How to Legally Settle Your Personal and Credit Card Debt for Pennies on the Dollar: Without Filing Bankruptcy
How to Legally Settle Your Personal and Credit Card Debt for Pennies on the Dollar: Without Filing Bankruptcy
The current economic climate is dim for many Americans it forecasts potential recession, trouble for homeowners, and increasing personal and credit card debt. According to Federal Reserve estimates, that credit card debt is already in the trillions of dollars and rising each year. So, what can you do about it without immediately resorting to bankruptcy eliminating the entirety of your finances for years to come? It s a tough question to answer and one that many are faced with regularly, but there are ways to handle these debts legally without reaching for the extreme, final measure that we all dread so much. This book was written to provide every individual who is standing at the precipice of too much debt with the tools they need to settle that debt legally without ruining themselves forever. You will learn everything you need to know about the basics of debt, including what the various kinds secured, unsecured, personal, business, and tax debt entail and how they affect you. You will learn what happens to you when you don t pay, both legally and socially, and what your first steps should be on the road to repairing your debt. You will learn how to assess your overall risks and what your options are with your creditors. You will learn what vulnerabilities your debt collectors have legally and what you can do to legally challenge the validity of your debt. You will learn how to deal with bill collectors and how to create a line of communication that is two ways and not reliant solely on them making demands. Top financial experts, bill collectors, and one-time debt owers have been contacted and interviewed for this book and their interviews have been included here to provide a complete outline of what you can expect when you try to settle your debt. You will learn how to start negotiating settlements with your creditors and what specific things you can and cannot do when dealing with them. You will learn the variety of debtor s rights that exist and why they are never told to you, including details about the Fair Debt Collection Practices Act and how this act is legally enforced. For anyone who has ever spent the better part of their life dodging calls from creditors or trying to figure out how to pay those bills next month, this book will be the tool you need to understand how to tackle and deal with your debt.
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How many bank accounts and credit cards should I have?
Question by Pepper: How many bank accounts and credit cards should I have?
I am currently a college student with 2 checking accounts (Wamu- 3 years & BOA- 1 year) and 1 credit card (Citi- 1 year). I have always met the requirements for my checking accounts and paid all my credit card bills on time. As for loans, I do have about $ 10,000 of student loans in debt. I was wondering if it is okay for me to get another credit card. Also, many say that having a lot of credit cards are bad for you. What is the reccomendation of how many bank accounts and credit cards should I have so that my credits would not go down? Thanks in advance!
Best answer:
Answer by Smoovy Loco
It’s not uncommon to have multiple bank accounts with different banks, from my past and current experience, I primarily do all my business with one bank if possible. I’m going to list the types of accounts that you should have in order to prepare yourself financially:
1. Checking account- This is the primary tool to not only monitor your finances, but to pay all your bills on time.
2. Savings account- This should be used as a primary reserve that should be used in the event of emergencies and as a backup reserve to your checking account.
3. Traditional/Roth IRA- This should be your primary retirement account. Anytime that you have a 401K,402g, or 403b plan, and plan to switch employers, this would be the account to move or “rollover” your retirement savings to.
Now as for credit cards, You should have 2 major credit cards and 1 department store card. Some people have more credit cards, but actually fewer cards established for a longer time, should be all that’s necessary. The longer you establish credit by making payments on time and managing your available credit responsibly, the credit limit can and usually is increased to where that will be all you need. Some people have multiple credit cards for whatever reason, but the 2 most important things to remember when using them is to pay on time and manage your available credit.
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Rich Dad’s Guide to Becoming Rich Without Cutting Up Your Credit Cards: Turn “Bad Debt” into “Good Debt”
Rich Dad’s Guide to Becoming Rich Without Cutting Up Your Credit Cards: Turn “Bad Debt” into “Good Debt”
Why cutting up your credit cards won’t make you rich A popular TV personality often says, “Take out your credit cards and cut them into pieces.” While that is sound advice for people who are not financially responsible, it is inadequate advice for anyone who wants to become rich or financially free. In other words, just cutting up your credit cards will not make you rich. What does make you rich is financial education…unfortunately a type of education we do not receive in school. If a person has a solid financial education, they would know that there are two kinds of debt…good debt and bad debt. A person with a sound financial education would know how to use good debt to make them richer faster…much faster than a person who only saves money and has no debt. Rich Dad’s Guide to Becoming Rich * Are you in credit card debt? * Is job security dead? * Is your financial security threatened? * Is a high-paying job the answer? * Is your money working for you? * Do you have good debt or bad debt? We all need more financial education. We need to know how to have our money work hard for us so we don’t have to spend our lives working for money. That is why we need more sophisticated financial education…not oversimplified and childish financial tips such as cut up your credit cards or save more money. If you are ready to increase your financial education and enjoy your credit cards, then this book is for you.
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Related Credit Cards Products
NO CREDIT CHECK LOANS: And other Options for People with Bad Credit
NO CREDIT CHECK LOANS: And other Options for People with Bad Credit
This book will teach you ALL that you really need to know about credit and various ways that you can still get money; credit; credit cards; cars; houses or anything else that you need to obtain on credit. You will learn that poor credit does not have to prevent you from doing ANYTHING that you need to do.
It doesn’t matter how poor or bad your credit may be, or even if you’ve filed bankruptcy, there are always alternatives and this book will teach them to you.
What is Credit?
Do you really care about your credit report?
Probably not.
Most people don’t truly care about the status of their credit report. Very few people go around overly interested in that topic. The only time that most people even give a thought to their credit reports is when they need to use their credit report status to accomplish some goal or objective. And even them, what people are really concerned about and interested in is being able to accomplish their objectives. When you are trying to borrow money; get a credit card; rent a nice apartment or house; qualify for a mortgage or home loan; buy a new car or get a job that requires…that’s when the status of your credit report becomes important to you.
But what if you could accomplish all of this and more regardless of the status of your credit report? In this eye-opening and revealing book you will learn a lot of little-known secrets and I shall show you alternative methods of accomplishing the same objective rather or not you have poor or good credit.
There are always alternative methods of doing things.
Can you legally create a brand new credit file? Yes you can. There is an illegal way to go about it …which is tantamount to fraud and then their is one totally and completely legal way to do it. I will teach you the legal way in this book.
I also will show you how to clean up a poor credit record quickly and easily …regardless of why it’s bad.
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Q&A: is there a difference between a cash advance credit card debt and a regular purchase debt?
Question by Nicolas R: is there a difference between a cash advance credit card debt and a regular purchase debt?
Like, if I owe a lot of money to 3 or 4 credit card companies (like 4k each) on cash advances I know the interest rates are higher by a lot but is there a difference if the debt was for regular purchases? will they come after me more than if they weren’t cash advances? Can I still file bankruptcy to get out of the debt?
Best answer:
Answer by Koku
Absolutely! Your cash advance debt is billed at a much higher rate, and your payments to each card will be applied to the lower debt rate.
Say, you cash advanced $ 1000 at 24.99% APR but had an existing balance of $ 3000 at 9.99% APR
When you get ready to pay the bill, and attempt to pay the total cash advance balance, you’ll be in for a rude awakening. The credit card will apply the $ 1000 (+ fees) to the lesser APR, and if you continue to take out cash advances, eventually all of your debt will consist of the cash advance rate.
Also, your cash advance fees are more than likely immediate– unlike carrying a traditional balance where you can avoid the finance charges if you pay before the bill date. Cash advances should be a very last ditch, emergency option. They will increase your debt tenfold if you’re unable to manage them.
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Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today! Reviews
Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today!
This completely revised and updated edition also includes an appendix of living expenses in twenty selected U.S. cities. Consumers can take financial control away from their creditors and put it back into their own hands–and start living debt-free today!
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Drop Debt: Surviving Credit Card Hell Without Bankruptcy
Drop Debt: Surviving Credit Card Hell Without Bankruptcy
You’re not alone in your struggle with crushing debt, and bankruptcy is not your only option. Drop Debt presents a way to start building a new, durable financial future.
As the former president of the National Consumer Council, author Harvey Z. Warren has helped thousands of families find relief from crippling debt. This book offers a continuation of his work, aimed at rescuing the millions of potential readers who are teetering on the edge of bankruptcy. This no-holds-barred examination of the American debt crisis reveals the inner workings of the personal debt industry, while presenting lessons and action plans for readers who want to reclaim a debt-free life. Readers will find relief in understanding that they are not alone in struggling with their financial problems.
With powerful first-person testimonies, well-researched background material, and a conversational yet authoritative tone, the book provides readers with the confidence and the skills they need to overcome the shame of debt, take control of their finances, and live a comfortable life well in the black.
List Price: $ 14.95
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Categories: Loan Products Tags: Bankruptcy, Card., Credit, Debt, Drop, Hell, Surviving, without
Bad Credit Loans
With tremendously bad credit, getting approved for loans tends to be harder, but it’s possible even with those who have extremely bad credit. The creditors of these flexible financing programs are available to help struggling individuals find credit they can’t get from conventional financial institutions.
Extremely bad credit can radically lessen your economic options. Loans and the like become harder to get and considerably more expensive. Credit card companies tend to charge despicable fees and penalties and make borrowing very expensive come payback time.
Lenders of bad credit loans are also put in a difficult situation since your bad credit score equals a higher risk. But just know there are heartless people who are out to take advantage of you being economically challenged. Truth be told, there are tons of creditors willing to give you a second shot and approve your loans albeit your bad credit records.
Your credit rating will gain benefit as you restore your credit reputation through responsible payments. Just have a disciplined approach in paying off your new loans and with enough effort and time, you will regain control of your finances once again.
When you are planning on getting loans with extremely bad credit score, it is always best that you shop around compare the offers of every creditor. You can even use an online loan broker to know your loan opportunities and find the best lender for you. Monitor your proposed loan agreement and you will soon be able to lessen the costs and borrow money with increased savings.
Tanya can help you improve Bad Credit, and get approved for fast loans or credit cards with no credit. Check out more free articles and bad credit loans and financing advice at Bad Credit Loans
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Categories: Loan Articles Tags: bad credit loans, Credit, loan for low credit score, loans
Personal Finance Tips : How to Get a Personal Loan With No Credit History
Our registered financial consultant will talk about loans. Tips will be provided to you on how you can have a loan with no credit history.
By having this video, you will be presented with solutions on what you can do to get that personal loan. Perspective coming from our expert will be your guide with steps you need to take so you can make your own savings into a loan.
You will definitely enjoy what this guy can provide you especially ideas on how to improve your personal finance using proper and well experienced way. After watching this video you will be educated on the techniques you can use regarding loans.
So I hope you can learn more and have fun with this video on personal finance tips: how to get a personal loan with no credit history.
Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis
Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis
- ISBN13: 9780470554654
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
An updated and revised look at the truth behind America’s housing and mortgage bubbles
In the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy.
Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. In it, authors Paul Muolo and Mathew Padilla reveal the truth behind how this crisis occurred, including what individuals and institutions were doing during this critical time, and who is ultimately responsible for what happened.
- Discusses the latest revelations in the housing and mortgage crisis, including the SEC’s charging of Angelo Mozilo
- Two well-regarded financial journalists familiar with the events that have taken place chronicle the crisis in detail, showing what happened as well as what lies ahead
- Discusses how the world’s largest investment banks, homeowners, lenders, credit rating agencies, underwriters, and investors all became entangled in the subprime mess
Intriguing and informative, Chain of Blame is a compelling story of greed and avarice, one in which many are responsible, but few are willing to admit their mistakes.
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