Debt consolidation

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Debt Strategies
2007-11-13 06:30:00
In any game, including debt, there are strategies that will help you win. One of the easiest strategies to master is “no new cards.” As convenient as they are, and even though they have helped most of us through some experiences we may not have gotten through without them, credit card debt should be handled with great caution. Remember, the maximum limit on each card with your name on it is the amount that goes in your indebtedness column on your credit report. In other words, let’s say you have four cards with a total maximum limit of $12,000. Creditors will look at that $12,000 as if you have indeed charged that much against them, even though you may only have a $250 balance on one of the cards. One common marketing approach is to offer you a credit card at a low rate if you will consolidate all of your cards onto that card. People who are behind in their payments of other debts often apply for several of them. The next time you get one of those offers in your ma...
More About: Strategies , Debt

Secure Debt
2007-10-30 06:28:00
Now that you’ve learned who the players are in the debt game, we’re going to discuss types of debt. Fundamentally, there are two types of debt: secured and unsecured. The type of debt you “play” with in the debt game may depend on a variety of factors such as your credit rating, the type of product you’re trying to purchase with debt, and regulatory limitations. When a person or institution loans us money, they want to know when they will get their money back, how much they will be paid for their faith in us that they will get it back, and what will happen if we don’t pay it back. If a debt is secured by something, the lender expects that if we don’t hold up our end of the agreement, they can go to the security or collateral on the agreement and collect what is owed them. If a debt is secured, it means you, as the borrower, will only receive the loan if you can offer collateral of some type to the borrower. In essence, if the lender expects ...
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Test Your Debt Savvy
2007-10-15 07:54:00
Okay, let’s see how you might play the debt game. Read the following situations and see what you’d recommend based on what you know about debt. (1) You need $4,500 now. It is an emergency. What will you do? What if it isn’t an emergency how might this change your strategy? Ideas: An emergency requires fast ...
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Credit Unions
2007-10-04 10:08:00
A credit union is a not-for-profit financial institution chartered by the state or federal government and owned by its members. Credit unions may be formed by any group with a common bond, such as teachers or farmers. It is governed by a board of volunteers who are elected by their fellow members, and can ...
More About: Unions , Credit Unions

Debit Cards
2007-09-11 13:49:00
Debit cards, as you know, look just like credit cards. The difference is the payment comes directly out of your checking account instead of increasing your credit card balance. When debit cards hit the scene, Cena was one of the first to trade in her old ATM card for the new, more convenient card. Her ...
More About: Cards , Debit Cards , Debit Card

Reviewing Your Credit Report
2007-09-01 08:01:00
You should examine your credit report at least twice a year. In examining your report, it is important that you be on the lookout for any erroneous listings on your credit report. While it is necessary to question any irregularities and contact the credit bureau with any challenges, it is a federal offense to ...
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Basic Strategy: Good Debt, Bad Debt
2007-08-23 14:07:00
Before we get into the players in the game of debt, you should understand that there is good debt and bad debt. What’s the difference? Simply put, sometimes it’s a good decision to go into debt if that debt will help you gain financially or in some other way. For example, getting a mortgage ...
More About: Strategy , Debt , Basic , Good , Rate

Credit Scoring Model
2007-08-11 09:03:00
To develop a credit scoring model, random loan customers are sampled statistically to identify characteristics that relate to patterns of repayment. Then, each of these characteristics is assigned a weight based on how strong a predictor it is of the likelihood of repayment. The higher the score, the lower the risk for the lender. ...
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Credit Cards
2007-08-01 15:28:00
Credit cards could be considered a staple among the financial tools at our disposal. Some experts consider them a requirement in today’s world. Today, you can’t buy a plane ticket, reserve a hotel room, or rent a car without a credit card. I suggest you view credit cards as a tool that can help ...
More About: Credit Cards , Credit , Cards

Commonsense Ways to Spend Smarter
2007-07-26 07:02:00
There are many ways to spend smarter in your life. It’s all about making minor adjustments in your behavior: Consider getting a roommate to split your expenses. If you have co-workers who live near you, carpool to save gas expenses and mileage/maintenance.  Do your own minor home improvements or repairs.  When making travel arrangements, check for discount tickets ...
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Start Yours Own Business
2007-07-19 06:23:00
Some business owners would chuckle to see a section like this induded in a chapter about earning more income. For many business owners, owning a company means not having an income for sometimes two or more years. Of course, if the business survives and makes a profit, the payoff will be worth it. If ...
More About: Business , Start , Sine

Understand Your Credit Report
2007-07-11 06:53:00
All games have scores. In the game of debt, the score is your credit report. You need to know what your score is and if it is accurate. Your credit report is also known as a credit file or credit history. Almost everyone has one, whether you know it or not. At one time ...
More About: Credit , Report , Credit report , Understand , Under

Money Beliefs
2007-07-03 08:17:00
Beliefs are our conclusions about what we have seen, heard, and experienced. They may be accurate or not, but they are still our beliefs and we build our behaviors on them. Our money beliefs or ” misbeliefs”govern our financial choices and patterns. Sometimes our beliefs are in line with those who have influenced us, like ...
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Rules of the Debt Game
2007-07-01 06:17:00
Rule #1: What you borrow, you pay back with interest. Once you’ve signed on the dotted line, you’ve committed yourself to repay that loan, and then some. According to Steve Rhode, creator of myvesta. com’s “The History of Money and Debt ,” an entertaining and enlightening online exhibit, the Sumerians were the first recorded culture ...
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Counteracting Your Money Personality
2007-06-30 16:46:00
The way to achieve (or move toward) “money harmony” involvesn “practicing the nonhabitual” or “being where you ain’t” or “doing what doesn’t come naturally.” Many of the most worthwhile changes in life involve practicing the nonhabitual. This leads to increased self-love and self-respect, more intimacy, more flexibility, and more choice . So how does each ...
More About: Money , Debt , Counter , Persona , Tera