If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a “debtor.” If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a “debt collector.” You should know that in either situation, the Fair Debt [...]
Goodbye Taxes, Hello Debt!
Tax Freedom Day represents the first day of the year the average American has worked to earn enough money to pay their taxes for the year… Tax Freedom Day for 2009 was April 13th. It is annually calculated in the United States by the Tax Foundation—a Washington, D.C.-based tax research organization.
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Before you can even get started in some kind of “get out of debt program”, there are some questions you need to ask yourself. There are some things you will need to know. You may not even be cut out for the most popular debt relief programs and finding out now will save you from major [...]
Lori was carrying a heavy debt load for a long time, over $94,500.00 of high interest credit card debt. Her average interest rate was 16%! This is actually lower than most folks I talk to everyday. (The average American today pays 18.9% interest. That’s insane!) Still… If she continued doing what she’d been doing, paying minimum payments of $2,835.00 a [...]
Startling statistics: (According to the Federal Reserve) • 49,000 U.S. Households now have between $50 million and $500 million in net worth. • 125,000 U.S. Households are between $25 million to $50 million. • Over the next 50 years the wealthiest Americans will leave behind roughly $27 trillion dollars. • The richest 1% of Americans control more wealth than 90% [...]
Debt settlement, also known as debt negotiation, debt arbitration or debt workout, is an aggressive approach to debt reduction in which the creditor agrees on a reduced amount, paid by debtor, as payment in full.
You’re deeply in debt, wondering which way to turn. You’re confused, worried, and so stressed out you can’t think straight. What do you do? Many people mistakenly turn to credit counselors. Often people struggling with serious debt make the dangerous assumption credit counselors are “the good guys” because they advertise being “not-for-profit”. Other times debtors lured [...]
Gut Check!
Who You Are In 5 Years Will Be Most Effected By These 5 Factors:
Here’s a magical message I found about 7 years ago, when I was going through tough times, looking for a way to turn things around. I saved it for myself then, but I’d like to share it with you now because there may be magic inside for you too. NOTE: I’m not sure where this [...]
Here’s a question a lot of people are asking: How can you settle a credit card debt without using a “credit counselor?” * In fact, this article has become the most popular “Debt Relief” article in the past 90 days on Ezine Articles, the largest article publisher on the web, with over 50% more views than [...]
The Big Idea
STOP Paying Interest, START Earning Interest!
There it is, the “big idea”… Think about it. “Stop paying interest and start earning interest.” Poor Formula vs. Wealth Formula: Earn, Spend, Borrow = Debt, Poor, Slave Vs. Earn, Save, Invest = Wealth, Rich, Free Which Will You Choose? Poor Formula – The poor formula is when you earn money, then spend it all, and [...]
Let’s not fool ourselves. If you are in debt and paying interest, you’re already a slave to debt. The real question is- What’s YOUR best choice to get out of debt? Here’s a quick game plan to help you make your best choice to be debt free ASAP… Use these tools to set yourself free from [...]
What is debt settlement? Debt settlement is the process of negotiating with your creditors to settle your debt for less than what you owe. One thing you need to realize is that this program works best for people that are soon approaching or already in a financial hardship of some kind. You don’t have to wait [...]
Back in the 50’s, the credit card industry got together to come up with a plan to cope with all of the people filing record numbers of bankruptcies. They were getting stiffed left and right, and they came up with Credit Counseling. After creating the idea, they lobbied to Congress to get the non-profit status for Consumer Credit [...]
Traditionally, if you’re not able to make minimum payments, you’re in a hardship, or you just find yourself in too much debt, what you do is file bankruptcy. You file bankruptcy and you pay zero. The creditors get nothing and it’s the ultimate move, the ultimate trump card that you’ve got as a citizen. Unfortunately, about [...]
If you can’t write a check, you don’t have the resources like a 401k or equity in a home to pay off your debt, what can you do? Most people out there are just making minimum monthly payments, exactly what the banks want them to do. The average client I deal with these days has around [...]
Instead of paying off your debt with a lump sum check, here’s another option which is the next best thing. If you want to get out of debt as fast as you possibly can without having any negative impact on your credit whatsoever, you must pay down and pay off your debt using an accelerated [...]
The first option you have is to whip out a check and pay it off, but if you’re reading this now that’s probably not an option you can pursue. There are possibilities you may not have thought of. You may be able to borrow against a 401k. You may be able to pull money out [...]
Credit Repair Credit repair is the process of using the Fair Credit Reporting Act to dispute negative items and get them removed from your credit report, resulting in an increase to your score. I work with my clients to show them how they can do this on their own or hire a low-cost law firm to [...]
Dan was a single guy living at home with his father and working in the family business. When he found out he was going to inherit a fortune when his sickly father died, he decided he needed a wife with which to share his fortune. One evening at an investment meeting he spotted the most beautiful woman [...]