eHow launches Android app: Get the best of eHow on the go.
Summary: If an individual needs emergency debt relief, he should look online into companies that can help put all of their bills together and call creditors to reduce interest rates. Find out how to use a home equity loan to get rid of debt with help from an experienced businessman in this free video on debt and creditors.
John Niemira is a professor of business at Stevens-Henager College in Salt Lake City, Utah.read more
"Hi my name is John Niemira. I wanted to talk to you today very briefly about emergency debt relief. If you're watching this video, you're at that point where you need some emergency debt relief. There are a couple of different companies out there, get online and take a look at some debt relief solutions. There are companies that can help you take all your bills and put them together, call your creditors for you and reduce your interest rates or eliminate your interest rates. Put it together as one monthly payment. Most of these services do not charge anything, they're non-profits, they will provide a package that you pay to them one monthly payment with reduced interest rates and they pay out to each one of their creditors. They contact your creditors for you, they help you out in this process. It is a slow process, but it's one way of getting it done. Another emergency relief might be taking a loan on your home on the equity in your home or on an insurance policy. A lower interest rate that way. Maybe borrowing some money from a family member just to help you get out of this emergency situation. If you need anymore information on this subject or any other subject in the business field, my e-mail address is jniemira@gmail.com."
eHow Article: Emergency Debt Relief
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.