Is Debt Necessary For Generating Income?
“Margie” writes in: My husband and I are pretty frugal, but we currently carry about $25,000 in credit card debt and a personal loan ... about $1,200 on each one of the the personal loan and two credit cards. This way we’ll be able to pay off ... ? First of all, it’s worthwhile to get a bead on how bad this debt actually is. Margie reports [more...]
Date: 2008-11-26 20:00:49
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Why Your Credit Rating Is Important
by Steve Collins Credit ratings, at their most straightforward, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain [more...]
Date: 2009-01-17 22:27:43
A Good Start
Chris Dodd’s plan: WASHINGTON (AP) — Judges could rewrite mortgages to lower bankrupt homeowners’ monthly payments as part of congressional ... including credit card debt or car loans — from any financial institution in the U.S. or abroad in order ... their bad assets on the government in the massive rescue would have to limit their executives’ pay [more...]
Date: 2008-09-22 18:18:39
The next meltdown?
So what is the next meltdown? This article in MSN suggets it’s credit cards. Definitely a possibility ... , but how are people affording credit cards, student loans, and car loans? Much like foreclosures ... . First, the average debt of consumers is $16k when averaged over people who don’t have credit cards, pay [more...]
Date: 2008-11-06 17:42:46
Why Consumer Debt Is Hazardous to Your Financial Health
You don’t have to look far to find a financial expert who will tell you that consumer debt is bad ... . But has anyone ever really explained what the problem with consumer debt like credit cards and car loans is? On the surface, consumer debt doesn’t seem so awful. After all, using these types of credit lines [more...]
Date: 2009-01-04 13:49:19
Is It A Good Or Bad Thing That So Many Companies Are Going Out Of Business?
What exactly will 2009 bring us in terms of businesses closing down for good? ... to the economy - which while sad for the workers is not necessarily a bad thing. We have consumed ourselves ... $2.56 trillion in consumer debt, with the average household’s credit card debt amounting to $8,565 [more...]
Date: 2009-01-06 14:00:00
Debt Management
Debt not only causes stress and worry, but it could also harm your credit rating ... only be used in the case of an emergency. If you find yourself having to use your credit card a lot ... of your credit card. Incessant spending is a form of mismanaging your money. This is what puts most [more...]
Date: 2009-01-16 20:45:59
Free Downloadable Suze Orman Book from Oprah
Here’s a quick reminder that Suze Orman will be on The Oprah Winfrey Show this afternoon to discuss jumpstarting your personal finances in 2009 ... within your means, rather than running up credit card and HELOC debt leaves you better able ... to topics like credit, retirement investing, spending, real estate, and “protecting yourself” [more...]
Date: 2009-01-08 17:53:44
Facing Debts after Wedding
After my personal experience in the difficulties I have faced when I was dealing with the debts after my marriage I have decided to share some ... . 3) Debt Collection Agency: So finally I just want to introduce this website which can be helpful ... much debt. The big amounts I was having was $15000 in credit card debt and 3 years on car payments [more...]
Date: 2009-01-15 15:04:28
Gresso's Grand Monaco gets wrapped in leather, credit card debt
Filed under: Handsets , Others , GSM , EDGE , UMTS Here's the problem with carbon fiber phones : they're not for everyone, especially those who aren't interesting in dropping over two grand on a midrange candybar. Don't sweat it, though, because Gresso's back at it again with a leather-clad version of its Grand Monaco called the Grand Monaco LE -- "LE" apparently stands for "Limited Edition," if the badging on the back of the phone is any indication -- available in your choice of red and black. [more...]
Date: 2009-09-30 19:42:00
Collection Agency calling from 571-431-1958 (Washington, VA)
Steve reported a Collection Agency (5714311958 from Washington area, VA) . The following comments were posted: AACC AACC AACC 5127689800 AACC 804-234-9056 assetacceptance.com Asset Acceptance is a leading purchaser and collector of charged-off consumer debt. Since 1962, we have provided credit originators such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. [more...]
Date: 2009-09-25 19:53:49
What Does “Late” Really Mean? Beware of Sneaky Credit Card Fees
I spend a lot of time watching and listening to financial news reports; and since we’re officially in a recession, ... debts low and paying bills on time. However, it appears that credit card companies have found a way to mess with their reliable, responsible clients. Credit card companies can pretty much bet [more...]
Date: 2008-12-16 15:04:11
Showing Your Finances The Light of Day
This is a guest post from Scott Crawford. Scott is the CEO of DebtGoal ... ) but as we started to talk through their situation, I realized that it might not be as bad as they thought. It turned out to be fairly bad: they had $120K in credit card debt, another $70-80K in student debt [more...]
Date: 2008-11-25 16:13:00
Your Credit Rating And You
Credit ratings, at their most straightforward, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain? [more...]
Date: 2009-01-17 22:54:06
Camelback Displays Material Sell Online
Oye, New year is come on!Do you Think about your businesss now. I think you should start now. Do you want to decorate your office ... (1) My Splendid Weekend with PC Software (3) Credit Card Debt Consolidation (2) Internet Marketing/SEO Technology AT MarketingMule (0) Cheap Web Hosting at 4cheapwebhosting (1) Credit Card Application [more...]
Date: 2008-12-25 08:01:52
The Paradox of Thrift
Has the economy scared you into cutting back on your spending, paying down your credit cards, getting your budget in order? Good for you, but bad for the country’s financial health, the Wall Street Journal points out today ... couple profiled in the Journal story: Rick and Noreen Capp recently reduced their credit-card debt [more...]
Date: 2009-01-06 14:12:53
You Can Implement your own Credit Repair
by Rob Kosberg One day you realize that you are in a serious personal financial disaster situation ... of your salary that goes for necessities such as mortgage, car loans, credit card payments, utilities, other loan ... . This is the income you can devote to reducing debt. Next, decide which loans and credit cards [more...]
Date: 2009-01-14 23:27:42
Bankruptcy Advice You Might Find Helpful
Bankruptcy Advice You Might Find Helpful October 29th, 2008 Subscribe To Our Feed Bankruptcy advice varies, depending on who you ask ... accounts in collections. When you’re seeking advice from a credit repair attorney, be sure to double ... . A credit card debt reduction company might say that it’s better to just stick it out, settle [more...]
Date: 2008-10-29 15:56:01
Book Review: Frugal Living for Dummies
Okay another book review and another dummies book. The winner of the Personal Finance for Dummies is Cindy ... about cutting up credit cards and setting a realistic budget. It also says to track what you spend and really stick to a budget. My one issue with this chapter is it only looks at credit card debt as bad [more...]
Date: 2008-10-23 14:00:02
Friday morning links
TOP STORIES Rate cut from Japan, Barclays seeks funding - Reuters Nevada, Michigan, Florida lead 'underwater' list - AP Housing plunge: ... is more likely than many assume - MarketWatch Banks, consumer advocates urge U.S. to allow credit card debt ... it feels so bad - CNN/Money Economic data point to the start of a recession - LA Times Recession Ghost [more...]
Date: 2008-10-31 13:20:00
Do NOT Shred it and Forget it!
Public relations people often pitch products to bloggers like me. Most PR pitches tout harmless products, which I ignore. Until now ... you to shred your unpaid credit card statements to ignore creditors, to hide consumer debt ... with ease once all evidence of indulgences has been destroyed, thus keeping bills, credit card statements [more...]
Date: 2008-12-13 08:05:49
Consumer Credit Counseling
Consumer Credit Counseling January 17, 2009 at 5:00 pm · Filed under Credit Counseling Services div style=’float: right; width: 100px; padding: ... on financed loans and credit card debt can become onerous and when you add in penalties and late fees ... impossible for anyone to compete in today’s arena without the aid of a credit card. And that’ [more...]
Date: 2009-01-17 22:00:36
Mission and Recession
by Skye Jethani The financial talking heads are attributing the current economic crisis to a number of things: lack of regulatory oversight, ... rate and over $8000 in credit card debt. As Dave Ramsey says, we are not “acting our wage.” ... bad mortgage lending practices, and globalized market structures. But some of the more plainspoken [more...]
Date: 2008-12-10 17:00:51
Your Credit Rating Is Important
by Steve Collins Credit ratings, at their most simple, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain [more...]
Date: 2009-01-17 22:53:50
Medical debt adding to credit crisis and economic problems
For me this is one of the most disgraceful aspects of the Republican control in America ... led them to amass a pile of credit card debt and forced them to refinance the mortgage on their house ... where someone either went into debt or feared going into debt so opted for no health care or a bad [more...]
Date: 2008-10-30 05:57:01
How to Replace Bad Financial Habits With Good Ones
This is a guest post from Leo Babauta of Zen Habits. His first book, The Power of Less, was recently published by Hyperion ... full of things we don’t need, bills we can’t pay, and low balances in our checking and savings accounts ... situation? Some ideas: Impulse spending. Overuse of credit cards or other debt. Spending without tracking [more...]
Date: 2009-01-14 13:00:09
Loan For Bill Consolidation - An Attractive Alternative?
Many people in the US today are deep in debts that they are not in a position to repay ... . Many people to own several credit cards and bad debtors, usually would have bad repayment record with all of them. For such people a bad credit card debt consolidation loan could advisable to club [more...]
Date: 2009-01-16 17:50:56
Your Credit Rating And You
by Steve Collins Credit ratings, at their most simple, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain [more...]
Date: 2009-01-17 22:41:15
Identity Theft Leaves an Uncomfortable Sense of Nakedness
When identity theft occurs, the victim faces an endless paper chase contacting lenders and credit agencies. Even more so, these victims often feel violated, stripped of their privacy, left with an uncomfortable sense of nakedness. Their account balances, credit cards, debts and financial information are compromised and in most cases of identity theft, the thieves have run up bills into the thousands of dollars. [more...]
Date: 2009-09-01 20:35:17
We Are One Disaster Away From Financial Ruin. – Matt
Rollover USA-401K Rollover to IRA is a post from: Rollover USA-401K Rollover to IRA “Hi Steve, My wife and I have approximately $20,000 in credit card debt as well as an additional $20,000 in student loan debt. We’ve also wracked up $6,000 in dental bills recently. We are always on time with our payments but making ends meet has become a major problem and I only see it going totally [more...]
Date: 2009-09-30 18:45:23
Pawlenty on the Bailouts
Pawlenty on the Bailouts Jennifer Rubin - 12.08.2008 - 7: ... , the federal government of the United States is broke. They’re using credit card debt to pay off credit ... from reforming and fixing the problem because structurally it’s unsustainable. Those are the kinds [more...]
Date: 2008-12-08 12:53:34
Interest Only and Credit Card Debt
by Mary Bush Well, here is an example of the system that isn’t functioning as intended: a mortgage loan that encourages paying off one debt, ... as if to say, ‘You mean you can’t pay?’ What do these loan and credit companies think they’re going ... product, let’s give the bad credit crowd a chance to make an even worse decision, and finance a home [more...]
Date: 2009-01-01 10:19:52
Interest Only and Credit Card Debt
by Mary Bush Well, here is an example of the system that isn’t functioning as intended: a mortgage loan that encourages paying off one debt, ... as if to say, ‘You mean you can’t pay?’ What do these loan and credit companies think they’re going ... product, let’s give the bad credit crowd a chance to make an even worse decision, and finance a home [more...]
Date: 2009-01-06 08:22:54
Interest Only and Credit Card Debt
by Mary Bush Well, here is an example of the system that isn’t functioning as intended: a mortgage loan that encourages paying off one debt, ... as if to say, ‘You mean you can’t pay?’ What do these loan and credit companies think they’re going ... product, let’s give the bad credit crowd a chance to make an even worse decision, and finance a home [more...]
Date: 2009-01-05 15:03:54
Holiday Cheer: Reality is Not All It's Cracked Up to Be
I am currently on blog holiday, and am re-posting some refreshing concoctions from Christmases past.Life. It's deep, right? ... surrounding (i.e. Shaolin), that credit card debt and those student loans aren't mundane, they suddenly ... told, cash ruling everything around me. These geniuses accomplish the impossible: they make Staten [more...]
Date: 2008-12-29 16:00:00
After my personal experiencing the difficulties I have faced when I was dealing with the debts after my marriage I have decided to share some advice ... Collection Agency: So finally I just want to introduce this website which can be helpful ... . The big amounts I was having was $15000 in credit card debt and 3 years on car payments [more...]
Date: 2009-01-15 15:04:28
Smoothing Out Economic Wrinkles With… Botox
The economy may be in the tank, but some people are still willing to pay hundreds of dollars to look good ... , patients are reluctant to run up credit-card debt on a big ticket item like surgery. In a survey ... expenditure. As one dermatologist tells The Wall Street Journal: “Things are so bad that investments [more...]
Date: 2008-12-23 10:49:28
Confession Time Again
A reader tipped me off to an article (thank you!). The most interesting part of the article is a quote from a Christmas shopper: “This year, we’ve decided to just go for broke. Yeah, the economy might be in bad shape, and times might ... in credit card debt way back then. But the thing is - I still deal with those thoughts. Why [more...]
Date: 2008-12-04 02:39:48
Debt Relief Companies Under Investigation by Florida Attorney General
The Tampa Bay Business Journal reports that Florida Attorney General's Economic Crimes Division has launched an investigation or filed charges against 10 companies offering Floridians credit counseling, credit repair, credit card rate ... about any company that purports to have a "secret process" to reduce debt or cut interest rates. Credit [more...]
Date: 2008-10-18 14:48:20
Financial Forecast for 2009, Considering Resource Limitations
In this post, I consider some major issues contributing to our current financial problems, before making a financial forecast for 2009. These are 1 ... from the bottom: Layer 1. Household Debt (Mortgages, auto loans, credit card debt, student loans [more...]
Date: 2009-01-06 15:10:32
On community organizers and prisoners of war
A number of people seem perplexed by what Obama did in his years as a community organizer and why that experience would be relevant to the ... or how to pay off credit card debt. This is the sort of poverty that has no expectation of paying off ... for granted—like literacy or a work ethic or fathers or heat or legal jobs—may be missing entirely [more...]
Date: 2008-09-10 12:00:00
The Carnival of Personal Finance #178: Struwwelpeter Edition
I’ve been waiting for this chance to host The Carnival of Personal Finance for some time ... ? Before you wonder, please let it be known that this is not how I teach my kids our family values ... about forgiving credit card debt. In fact, if Congress changes the accounting rules surrounding credit [more...]
Date: 2008-11-10 05:46:25
The Bad Paper Chase
And the handout/buyout craze continues. The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt ... obligations from mortgage giants Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks ... also unveiled a new program to help unfreeze the market that backs consumer debt such as credit cards [more...]
Date: 2008-11-26 00:46:42
Bailout Gets More Costly Due to “Bipartisan” Deal; Foolish Limits on Foreclosure Should Be Removed
Liberal Congressional leaders have apparently reached a deal with the Bush Administration on the principal elements of a $700 billion bailout of the ... student loans, car loans, credit card debt and any other ‘troubled’ assets held by banks.” ... . Although it is being sold as a “bipartisan” — a buzzword often used to push bad policies – Republican [more...]
Date: 2008-09-28 20:34:55
Eliminate Debt
Most people,at some point of time in their lives are affected by debt and then lead a dejected and totally unhappy life ... in the web site.The web site also provides you information on how bad a credit card debt ... .It is very important that one finds a good debt consolidation service to eliminate [more...]
Date: 2009-01-13 22:44:46
Weekly Roundup: June All-Stars Edition
Hard to believe half the year is already in the books. Time flies when you are having fun! ... Dad Second Stimulus Check Frugal Dad Square Foot Gardening How to Get Out of Credit Card Debt Frugal ... . 50 Things Everyone Should Know How to Do. I need to add air conditioner repair to this list. Ours [more...]
Date: 2008-07-05 11:00:32
What Determines Your Home Mortgage Loan Qualifications
When underwriters consider your home loan application and credit history, they generally look for 6 basic factors ... in this requested home loan with previous loans (from credit cards, school, car, etc.), they’ll establish a debt ... is pulling the potential borrower’s credit record. This history shows not only the bad things [more...]
Date: 2008-12-30 15:28:20
Lastest News in Credit Card Debt - Oct 3, 2008
Ex-deputy city clerk given probation - Contra Costa Times 2 Nov 2008 at 12:41pm LONG BEACH, Calif.? ... to misusing a city-issued credit card while working for the city of Signal Hill. Vivian Munson ... to make credit-card transactions from device - Silicon Republic 3 Nov 2008 at 6:06am 03.11.2008 [more...]
Date: 2008-11-03 16:49:18
Fierce Financial Tips: The Carnival of Personal Finance #178, Struwwelpeter Edition
I’ve been waiting for this chance to host The Carnival of Personal Finance for some time ... ? Before you wonder, please let it be known that this is not how I teach my kids our family values ... about forgiving credit card debt. In fact, if Congress changes the accounting rules surrounding credit [more...]
Date: 2008-11-10 05:46:25
No, Bums Are Not Richer Than You!
A couple days ago, my buddy Neil Patel made a post claiming that bums are on the street are actually richer than the average ... . I would never run a Credit Card balance. That’s bad debt. However, I would have no problems going heavily ... and bad debt. He just said pay off your debt. Let me tell you something, no one has ever gotten [more...]
Date: 2008-12-20 14:00:18
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