Debtconsolidation-pro.com

Stress? Confusion? Helplessness? Consider debt consolidation. No bankruptcy, no sales pitches, no obligation, and no costs whatsoever. It's free and easy.

End Your Debt Problems!

Easily Consolidate Your Debt

This site provides general guidance and information. It is not intended as, nor should it be taken  to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions. This site as an affiliate represents the following sites above and is not responsible for their content.

Consolidate Debt Home Definition How it works How Non-profits are Funded Benefits of Debt Consolidation Consolidation vs Loans Identifying a Problem

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

Understanding Creditor Statements APR:Annual Percentage Rate Minimum Payment Due New Balance Finance Charge or Interest Grace Period Due Dates Credit Card Limits Types of Debt Secured Debt Unsecured Debt Good vs. Bad Debt National Consumer Debt Credit Card Debt Home Loans Student Loans Auto Loans Medical Bills About Credit Credit Reporting Credit Scoring Effects of Scoring Credit Repair Credit Card and Divorce Joint Accounts Names on Utilities Credit Cards Equity Credit Lines Other More Info from our sister site Resources

Finance Charge (Interest)       In general terms, a finance charge is the cost of credit. It is what you pay a lender for using credit. The finance charge on your monthly credit card statement is the interest you pay on the unpaid balance of your account. The calculation method used to determine the finance charge has an effect on the amount you pay in finance charges.      The most commonly used calculation method is the average daily balance. When this method is used, the average amount of debt you have in your account each day is used to determine the monthly finance charge. To calculate the Monthly Finance Charge using the Average Daily Balance: • Average Daily Balance x Daily Periodic Rate x    Days in Cycle = Monthly Finance Charge Or • $100 x .03288% x 31 Days = $1.02 Monthly    Finance Charge. Your Daily Periodic Rate is typically found near the bottom of your statement where the Finance Charges are explained.