Debt Reducer Expert's BlogDebt Reducer Expert's BlogThis blog provides free information on credit and personal finance issues Articles
Are Credit Problems To Blame For Plummeting Stocks?
2007-08-22 12:41:00 Hi All, I had remove the article taken from the credit.about.com site. Apparently the article is copywritten. If you would like more information about the article "Are Credit Problems To Blame For Plummeting Stocks ?" please visit http://credit.about.com. I apologize for any inconvenience. Please stay tuned for more credit repair tips and information. Thanks.
Are Credit Problems To Blame For Plummeting Stocks?
2007-08-22 12:41:00 If you tuned in to any news source yesterday, you heard about the Dow's 387 drop. Well, it dropped another 133 points this morning, according to Associated Press. Stock markets all over the world are taking similar turns.The culprit for the plunge? U.S. consumer credit problems.The largest U.S. mortgage lender, CountryWide Financial, is experiencing higher-than-normal delinquency rates with subprime and prime borrowers and expects results to be effected because of it. MSN reports more than 20 subprime lenders have shut down as a result of increased delinquencies and mortgage defaults. The surmounting problems in the mortgage industry led to a French bank's halt in investing in U.S. subprime mortgages, which, in turn, led to the Dow's drop.Elizabeth Weintraub, Guide to Home Buying/Selling, talks about why the subprime market is crashing. She lists lending to consumers with low FICO scores as one of the reasons.Foreclosure rates continue to increase, yet, interestingly, so does con... More About: Stocks , Credit , Problems , Blame , Lame
In Debt We Trust Documentary
2007-08-12 00:37:00 IN DEBT WE TRUST is the latest film from Danny Schechter, "The News Dissector," director of the internationally distributed and award-winning WMD (Weapons of Mass Deception), an expose of the media's role in the Iraq War. The Emmy-winning former ABC News and CNN producer's new hard-hitting documentary investigates why so many Americans are being strangled by debt. It is a journalistic confrontation with what former Reagan advisor Kevin Phillips calls "Financialization"--the "powerful emergence of a debt-and-credit industrial complex."While many Americans may be "maxing out" on credit cards, there is a deeper story: power is shifting into fewer hands.....with frightening consequences.IN DEBT WE TRUST shows how the mall replaced the factory as America's dominant economic engine and how big banks and credit card companies buy our Congress and drive us into what a former major bank economist calls modern serfdom. Americans and our government owe trillions in consumer debt and the nat... More About: Documentary , Debt , Trust
In Debt We Trust Documentary
2007-08-12 00:37:00 IN DEBT WE TRUST is the latest film from Danny Schechter, "The News Dissector," director of the internationally distributed and award-winning WMD (Weapons of Mass Deception), an expose of the media's role in the Iraq War. The Emmy-winning former ABC News and CNN producer's new hard-hitting documentary investigates why so many Americans are being strangled by debt. It is a journalistic confrontation with what former Reagan advisor Kevin Phillips calls "Financialization"--the "powerful emergence of a debt-and-credit industrial complex."While many Americans may be "maxing out" on credit cards, there is a deeper story: power is shifting into fewer hands.....with frightening consequences.IN DEBT WE TRUST shows how the mall replaced the factory as America's dominant economic engine and how big banks and credit card companies buy our Congress and drive us into what a former major bank economist calls modern serfdom. Americans and our government owe trillions in consumer debt and the nat... More About: Documentary , Debt , Trust , Rust
Federal Minimum Wage Increased
2007-08-12 00:35:00 On July 24, 2007, the Federal minimum wage increased to $5.85, a 9.3% increase over the current minimum wage. A employee paid the new minimum wage rate working full time will now earn approximately $12,618 annually. More About: Minimum Wage , Minimum
Minimum Wage Increased
2007-08-12 00:35:00 Minimum Wage Up, Keep Credit Balances DownOn July 24, the Federal minimum wage increased to $5.85, a 9.3% increase over the current minimum wage. An individual working full time earning the new minimum wage, will earn approximately $12,618 annually.After getting an increase in income, many people are compelled to spend more money. Be careful, though, that you don't increase your credit card usage. At that level of income, your "bad debt" payments shouldn't exceed $105 each month and payments for all debt shouldn't exceed $315. Anything over those amounts will put a strain on your monthly budget. I'd even argue that you should keep your debt levels at $0 to stay on the safe side.Remember, bad debt is used to purchase items that go down in value as soon as you purchase or consume it, like clothes, good, cars, and vacation. Good debt is used to purchase items that tend to go up in value, like a home or an education.Taken from http://credit.about.com/.Harrine Freeman CEO, H.E. Freem... More About: Minimum Wage , Ease , Minimum
Maxed Out Documentary
2007-08-12 00:31:00 Maxed Out shows how the modern financial industry really works, explains the true definition of "preferred customer" and tells us why the poor are getting poorer and the rich getting richer. By turns hilarious and profoundly disturbing, Maxed Out paints a picture of a national nightmare which is all too real for most of us.Maxed Out reveals the secrets of the new bank. John Ballew, a Midwestern banker whose neighborhood bank has been merged so many times he's lost count, tells us why suggestive selling is the primary qualification for working at a modern bank. Bud Hibbs, a well-known consumer advocate and the collection industry's enemy number one, explains why banks want us to be late. Liz Warren, a Harvard Professor who conducted the largest study of why Americans are going broke?at a rate higher than during the Great Depression?debunks the conventional wisdom that only "bad apples" declare bankruptcy. Liz's study proves that the bare necessities, not Prada shoes, are killing A... More About: Documentary , Maxed Out
Maxed Out Documentary
2007-08-12 00:31:00 "Maxed Out " is a feature-length documentary about the financial industry, directed by James Scurlock.If I hadn't already sworn off excessive credit card debt, "Maxed Out" would have been the thing to make me do so. The movie is the financial industry's Fahrenheit 911 equivalent.Review"Maxed Out" takes an inside look at the financial industry, revealing the industry's drivers and the effects excessive debt can have on consumers.What "Maxed Out" does very well is showing viewers the cunning and underhanded tactics that credit card companies and debt collectors use to make profits. These companies are portrayed as merciless predators, preying on the unsophisticated, irresponsible, underprivileged, or all of the above.When credit card companies are urged to screen customers who are least likely to pay and more likely to cause bankruptcy losses, the response is "Why would we cut out those people? They're our most profitable."Two mothers talk of their college-aged children, desperate ... More About: Documentary
10 Ways for Single Parents to Save Money
2007-08-04 04:24:00 In 2006, according to the US Census Bureau, there were approximately 14 million single parents in the United States, and those parents are responsible for raising 21.6 million children. Eight three percent of single parents are mothers and 30.3 percent of all single parents receive public assistance.Child care subsidies and public health insurance can help with closing the gap between low income and what it takes to make ends meet. Not all low-income families receive the benefits for which they are financially eligible. Families who receive multiple work supports can lose assistance before they reach self-sufficiency. Single parents often struggle with buying basic necessities and paying bills and usually live paycheck to paycheck. Single parents often do not have any savings and are in debt. Here are 10 easy ways for single parents to save money:1. Buy a Used Car. Buy or trade in your current car for a used car with a cheaper note. This will either eliminate your car note or save y... More About: Money , Save Money , Parents , Save
10 Ways for Single Parents to Save Money
2007-08-04 04:24:00 In 2006, according to the US Census Bureau, there were approximately 14 million single parents in the United States, and those parents are responsible for raising 21.6 million children. Eight three percent of single parents are mothers and 30.3 percent of all single parents receive public assistance.Child care subsidies and public health insurance can help with closing the gap between low income and what it takes to make ends meet. Not all low-income families receive the benefits for which they are financially eligible. Families who receive multiple work supports can lose assistance before they reach self-sufficiency. Single parents often struggle with buying basic necessities and paying bills and usually live paycheck to paycheck. Single parents often do not have any savings and are in debt. Here are 10 easy ways for single parents to save money:1. Buy a Used Car. Buy or trade in your current car for a used car with a cheaper note. This will either eliminate your car note or save y... More About: Money , Save Money , Parents , Save
My Book Expo America Experience
2007-07-19 01:09:00 I just wanted to share with everyone my experience at Book Expo America . My first day there in New York NY on May 31, 2007 I attended a luncheon where I met Blair Underwood and got an autographed copy of his new book Casanegra. Later that evening I had the privilege of meeting and taking pictures with the supermodel Alek, Randall Cunningham and Walter Mosley. I also met Zane and talked with Lynnette Khalfani, author of Zero Debt and Zero Debt for College Grads. I also received advance copies of several books and releases of new books not yet on the market. June 1, 2007 was the highlight of my trip. I caught up with my dear friend Heather Covington, NAACP Image Award Finalist for Literary Divas: The Top 100+ Most Admired African American Women in Literature. I had the pleasure of meeting Tony and Yvonne Rose owners of Amber Communications Publishing Company, Troy Johnson, Founder of AALBC, Dante Lee founder of blacknews.com, blackpr.com and blackstudents.com, Bernadette Standis, Th... More About: Experience , Peri
Support HR2269 to help cut college costs on 7/12/2007
2007-07-11 14:38:00 Call Your Representative to Ask for a Yes Vote on HR 2669Thursday morning July 12, 2007, the United States House of Representatives will vote on HR 2669, the Coll ege Cost Reduction Act of 2007.Among other things, this legislation will cut interest rates on subsidized student loans in half over the next five years, limit the percentage of income students spend repaying loans, and expand both the eligibility and size of the Pell Grant program. These reforms make the College Cost Reduction Act of 2007 the single largest investment in higher education since the GI bill.Help turn HR 2669 into Law: Call the House Todaywww.yda.org/callthehouse Already, thousands of Young Democrats have responded to our call to write letters to Washington asking for college affordability reforms. Now, as this vote hits the floor in the House, we need to add your voice (yup your actual voice) to our lobbying efforts.Large private lenders and their Republican supporters will stop at nothing to kill this ty... More About: Support , Costs
2.3 Million Consumer Financial Records Stolen
2007-07-03 18:53:00 MSNBC.com ----------------------------------------- ---------------------------------------2. 3 million consumer financial records stolen Former Fidelity National Information Services broker sold informationUpdated: 10:29 a.m. ET July 3, 2007JACKSONVILLE, Fla. - Fidelity National Information Services, a financial processing company, said Tuesday a worker at one of its subsidiaries stole 2.3 million consumer records containing credit card, bank account and other personal information.The employee sold the information to an unidentified data broker who sold it to several direct marketing companies, but the data were not used in identity theft or other fraudulent financial activity, Fidelity said in a statement.About 2.2 million records stolen from Certegy Check Services Inc. contained bank account information and 99,000 contained credit card information, Fidelity said.?As a result of this apparent theft, the consumers affected received marketing solicitations from the companies that boug... More About: Financial , Consumer , Stolen , Million , Finan
7 Tips For Summer Vacation
2007-06-22 20:44:00 Every loves to travel during the summer. The kids are out of school, the work load is not as high, and airlines compete for your business. If you work hard all year you deserve take a vacation even if it is just a mini-vacation. Here are 7 tips to save money when planning your summer vacation.1. Plan ahead. Plan at least one year in advance for vacations especially if you in debt, recently getting out of debt or live paycheck to paycheck. This way you can save enough money to go on vacation without going into debt to pay for it. 2. Find deals. Shop around to find the best deal. Visit websites like www.hotwire.com, www.priceline.com, www.orbitz.com, www.cheaptickets.com or www.hotels.com to find cheap rates for hotel, airfare and cruises.3. Talk. Talk to friends and neighbors about their current or past vacations and find out how they planned their vacation, i.e. ask about any discounts or sales they know about, inexpensive restaurants, shops, etc.4. Move fast. When you hear a... More About: Summer , Tips , Vacation
Fair Isaac Moves to Protect Lenders from Fradulent Manipulation of Authoriz
2007-06-06 16:21:00 Fair Isaac Moves to Protect Lend ers from Fraudulent Manipulation of Authorized User Credit Card AccountsCompany?s Newest FICO Scoring Model Will Ignore Authorized User Accounts When Calculating Classic FICO Credit Risk ScoresMINNEAPOLIS--(BUSINESS WIRE)--Fair Isaac Corporation (NYSE:FIC) today announced that it will adjust its FICOŽ scoring formula to ensure the continued reliability and predictive power of FICO scores. This action is intended to protect lenders and FICO scores from abuse of authorized user credit card accounts by a new kind of credit repair service that sells consumer credit card histories to credit applicants in order to purposefully misrepresent the applicants? own credit history to lenders and other businesses. The adjustment removes authorized user accounts from consideration by the scoring model in FICO 08, the newest version of the Classic FICO credit score which Fair Isaac expects to become available to lenders starting in September.?We will do whatever it t... More About: Fair , Thor , Ender
Breaking the Consumer Habit-Living the Nothing Life
2007-05-20 02:07:00 Taken from Adbusters Magazine, www.adbusters.orgfrom Adbusters Magazine:Breaking the Consumer Habit: Living the Buy Nothing Life April 20, 2007San Francisco, 1951.A living room fills with warm laughter and the aroma of fresh-bakedgoodies. Suburban housewives walk around the room exchanging smiles,telling stories. It's like any other casual gathering, except for onetwist: this is a Tupperware party, everyone is here to shop.Painting over gray decades of war and depression with bright pastels,products like Tupperware ushered in a new era of prosperity, renewaland superabundance. Consumer goods like the television set and theCadillac became more than just necessities for life: for millions ofconsumers, they were the essence of life itself.Fast forward to 2005. A group of friends in the San Francisco Bay Areaare meeting over a potluck dinner. Disillusioned by the endlessconsumer rat race, they are here to discuss how to not shop, to put anend to needless consumption. Taking the concept ... More About: King
Bill in Congress May Reduce Credit Card Costs
2007-05-17 00:05:00 There are several credit card fees that are associated with a credit card such as:1. Over the limit fees2. Cash advance fees3. Late payment fees4. Finance charges5. Annual fees 6. Rate increase after a promotionThese fees can make paying off a credit card difficult. It can seem like you will never be able to pay off the debt. Purchasing an item with a credit card results in 112% the original cost of the item. Congress has heard our cries. A new bill has been introduced that will outlaw some credit card billing practices. If you have questions about any information in this article send me an email at hfreeman@hefreemanenterprises.com. See the article below or clink on title to access the article link for future reference. Bill Would Ban Some Credit Card ActionsBy MARCY GORDONThe Associated PressTuesday, May 15, 2007; 6:29 PMWASHINGTON -- Legislation proposed Tuesday would outlaw some credit-card billing and interest-rate practices that critics say confuse consumers and... More About: Reduce , Credit Card
8 Simple Ways to Pay Off Student Loans Debt
2007-04-20 03:12:00 I had student loan debt but luckily only ended owing $5,000 after I completed college thanks to family and scholarships. It took me forever just to pay that $5,000 due to all the interest on my loan. A recent study by the National Center for Education Statistics shows that 50% of recent college graduate have student loans, with an average student loan debt of $10,000. The average cost of college increases at twice the rate of inflation. Here are 8 tips to help with paying off student loan debt:1. Develop a plan. Develop a plan to pay off your student loan debt before you graduate. 2. Save your money. Each summer throughout your college education, get a job or internship. Save half the money in a high interest savings account such as www.emigrantdirect.com (5.05%) or www.ing.com (4.5%). After a few months, consult a financial advisor to earn the highest possible return on your money. After college, you can use the money saved during all 4 years to pay down your college debt.3. Us... More About: Student , Loans , Student Loans , Debt , Simple
5 Ways to Become Financially Empowered
2007-04-07 17:13:00 Wealth is defined as the value of everyone you own minus any debts. A wealthy person is described as someone who can live comfortably for a least 5 years without working. Not everyone during his or her lifetime may become wealthy but you can become financially empowered. Fina n cially empowered is being in control of your finances, spending your money responsibly, buy needs more often than buying wants, and setting goals for your future.Here are 5 ways to become financially empowered:1. Become a homeowner. Becoming a homeowner increases your credit score, proves that your are a responsible spender, provides a tax write-off, increases your financial worth, provides you with an asset that will appreciate over time which will provide you with equity.2. Buy insurance. Buy health, life and disability insurance. Many people get in debt from medical costs because they do not have life insurance. Life insurance is critical because medical costs increase by 10 to 20% each year. Disability insu... More About: Come , Ally
Do You Know Why You Are In Debt?
2007-04-05 00:58:00 In the past few weeks, I have had several conversations with clients and other experts in the personal finance industry. I have come to some conclusions about debt: 1) many people do not know how they got into debt; 2) many people are in denial that they are in debt; 3) many people do not know how to get out of debt; 4) many people believe that it is normal to be in debt or that you are supposed to be in debt for the rest of your life.Unfortunately only 3% or Americans live debt free. First, let me say you don't have to be in debt no matter what some company or creditor tells you. Many people are living debt free lives with good credit, some people have even paid off their mortgage before the 30-year loan date! The only bill I have is my mortgage. The balance on my mortgage decreases each month because I send additional money towards my principal.Now, the first step to getting out of debt is admitting that you have poor spending habits or that you are in financial trouble. This may... More About: Debt , Know
Make this Your Year to Become Financially Free
2007-03-26 00:46:00 Yesterday I was a panelist at the 2007 Tour for Success Conference. I was delighted to be amongst many entrepreneurs and would be entrepreneurs.One thing that you should start applying to your life, which one of my co-panelists spoke about, is you should have at least 2 people in your inner circle who are doing better financially than you are. If you are the friend who is doing better financially than all of your friends or family stop paying the bill all the time and stop loaning everyone money.Don't get rid of your current friends, just get new ones who can provide valuable advice on how to reach your financial goals or who can help you reach goals you would never have imagined.If you are struggling with deciding how to invest you money or what to do with your money, even if it is a small amount consultant a financial advisor like Charles Schwab or Smith Barney who are experts in the field.Make 2007 your year to become financially free by reducing your expenses, eliminating your ... More About: Free , This , Come , Finan
Why You Shouldn't Get a ContactLess Credit Card
2007-03-04 04:55:00 There is a new type of credit card that is available developed last year called a contact less credit cards that allows consumers to charge items using their credit card but without actually signing a credit card receipt. The technology called RFID or Radio Frequency Identification allows scanners to use radio signals at various distances to read personal information regarding your credit card on a computer chip. The new credit cards can transmit your name, credit card number and expiration date to anyone that is located relatively close to you with a scanner.The RFID technology has been used for years for tracking shipments and storing inventory. The contactless credit cards can be scanned without having to remove them from your wallet or pocket. The Visa contactless credit cards use an encrypted security code to verify a transaction that is supposed to protect against certain types of fraud but doesn't protect against someone getting your name and credit card number. New version... More About: Card , Credit , Contact , Edit , Credit Card
Cush City 2007 New Author Awards Please Vote for Me
2007-02-28 05:21:00 2007 Cush City New Author Award - Please Vote For MeHi All, please vote for me for the Cush City 2007 New AuthorAwards . Thanks.Nominations: January 8-February 28, 2007Send an email to: nominations@cushcity.com. In the SUBJECT OF THE E-MAILMESSAGE, PUT THE NAME OF THE AUTHOR YOU WISH TO NOMINATE PLUS "BESTNEW AUTHOR AWARD." (EXAMPLE: John Doe - Best New Author Award).All nominations must be submitted via e-mail. DO NOT send anyattachments with your nomination.To see the list of current nominees, click here http://www.cushcity.com/displaypages/nomi nees.htmHarrine FreemanEzine Article ExpertCEO, H.E. Freeman EnterprisesAuthor of How to Get Out of Debt: Get an "A" Credit Rating For FreeUsing the System I've Used Successfully With Thousands of ClientsISBN 1933949430 More About: War
Why Items Stay On Your Credit Report for 7 Years
2007-02-19 14:44:00 Did you ever wonder why a negative item has to stay on your credit report for 7 years. This question has been circulated for many years and no one was able to give an answer other than that is what is stated in the Fair Credit Report ing Act (FCRA). I always wondered what the answer was myself but was never satisfied just knowing that someone just decided to use the magic number 7.Well upon research I think I found out why creditors, banks and other companies you do business with keep an item an your credit report for 7 years . This is taken from the bible:[ The Year for Canceling Debts ] At the end of every seven years you must cancel debts. Deuteronomy 15:1 (This law was put into effect to help the poor)This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed.Deuteronomy 15:2In the year of our forefathers,... More About: Item , Edit , Credit report
Harrine Freeman to do Book Signing at Borders Books in Silver Spring MD
2007-02-19 00:24:00 If you live in the DC/MD/VA area please come out to my book signing at Borders Book s in Downtown Silver Spring , MD on February 24, 2007 from 1-5pm located at 8518 Fenton Street, Silver Spring, MD 20910.Hope to see you there!Harrine More About: Book Signing , Free
Credit Report Scams
2007-02-17 06:16:00 From Dave Ramsey's website.Credit Report Scam By Erica in Texas A couple of years ago my husband and I were finally able to start paying off some bad credit that both of us created before we met. So I saw a TV ad for the Free Credit Report website. I thought how wonderful, I could check to see who we needed to contact for our credit issues, and we could mend some old, bad habits.I went to the website to sign up for the "free" credit report. I read all the fine print - or so I thought. About 20 days later when I went to pay for some groceries, my debit card was denied. So embarrassing. I went home and called our bank. Come to find out there were charges from a company in California that exceeded $250!I was shocked and asked the bank for the company's information. I contacted them and found out that when I gave them my bank information, they signed me up for a credit watch. I was furious and demanded that they send me a contract showing I allowed them to do this. Several phone calls ... More About: Scams , Credit report
Beware of Advance Fee Loan Scams
2007-02-08 02:27:00 BBB Warns that Advance Fee Loan Scam s are Proliferating[Arlington, VA, January 25, 2007] ? The Better Business Bureau system today warned of a recent surge in advance fee loan scams.Consumers across the U.S. and Canada are losing substantial sums of money, sometimes more than $1,000 per victim, responding to TV, newspaper or Web site advertisements that ?guarantee? loans to people with poor credit.?People with the poorest finances are being victimized. They don?t think they have any other option,? said Steve Cole, president and CEO of the Council of Better Business Bureaus.Here?s how the scam works. The consumer calls a toll-free phone number listed in the ad. The person who answers ?takes? their credit application over the phone or says they?ll send paperwork to complete. They are told they have been approved for a loan (from $5,000 to $100,000), and will receive the money once they pay a fee.The ?fee? is allegedly needed to cover the first loan payment or for ?security and/or insu... More About: Beware , Vance
What Shall We Read For the Month of January
2007-02-03 07:12:00 My book is featured on the What Shall We Read Segment. See below.What Shall We Read? Part 1 on VimeoHarrine Freeman CEO, H.E. Freeman Enterprises Speaker, Author of How to Get Out of Debt: Get an "A" Credit Rating for Free www.hefreemanenterprises.com More About: January , Month , Mont
Free Credit Repair Seminar on 2/7/07
2007-02-01 12:37:00 If you live in DC/MD/VA, I will giving a Free Credit Repair Seminar at Martin Luther King Jr. Library at 901 G Street NW, Washington DC on February 7 from noon-1pm. Hope to see you there. Thanks.Harrine FreemanCEO H.E. Freeman Enterpriseswww.hefreemanenterprises.comAu thor of How to Get Out of Debt: Get an "A" Credit Rating For Free (ISBN 1933949430)Available at Borders, Barnes & Noble, Walden Books, Books a Million, Walmart, Target, amazon.com, booksamillion, ecampus.com, overstock.com More About: Edit
2007 Cush City New Author Award - Please Vote For Me
More articles from this author:2007-01-30 02:11:00 Hi All, please vote for me for the Cush City 2007 New Author Award s. Thanks.Harrine FreemanEzine Article ExpertCEO, H.E. Freeman EnterprisesAuthor of How to Get Out of Debt: Get an "A" Credit Rating For FreeUsing the System I've Used Successfully With Thousands of ClientsISBN 1933949430Nominations: January 8-February 28, 2007mailto:nominations@.... IN THE SUBJECT OF THE E-MAILMESSAGE, PUT THE NAME OF THE AUTHOR YOU WISH TO NOMINATE PLUS "BESTNEW AUTHOR AWARD." (EXAMPLE: John Doe - Best New Author Award).All nominations must be submitted via e-mail. DO NOT send anyattachments with your nomination.http://www.cushcity.com/displa ypages/2007bestnewauthor.htm (websitedetails)To see the list of current nominees, click here:http://www.cushcity.com/displaypages /nominees.htm More About: War , Vote 1, 2, 3, 4 |
 |
|
 |
