Archive for June, 2012

Originally posted 2010-02-28 22:54:39. Republished by Blog Post Promoter

The best way for you to avoid consumer debt is to hide your credit cards. According to studies, credits are one of the main reasons why Americans accumulate thousands of consumer debts every year. Consumerism is very much alive in the country and the media is relentless when it comes to promoting all types of good and services.

Since credits care widely accepted in all types of establishments including those that are found online, a lot of people do not hesitate to purchase anything that caught their fancy. If you are one of those people who cannot control their spending, you better put that credit card of your under lock and key. The sooner you put a clamp on your spending habit, the better.

Buy Only What You NEED

Every week, different manufactures all over the world introduce new gadgets, clothing styles and other into the market. Every now and then we see different products being advertised on TV and on the net. These advertisements could be very persuasive that if you are not really very careful, you will end up being swept along. However, you dont really need to buy new things every week or even every month for that matter.

If you still have an MP3 which you bought a few months ago, there is really no point of buying an MP4 just because your friend, you officemate or the guy sitting beside you in the subway has it. Buy only the things that you need to avoid over spending. There is no point of accumulating hundreds of dollars in consumer debt simply because you want to have all the latest toys. Control your impulses. Never mind what the media has to say about being hip and cool, you will never feel hip and cool once your credit score starts crashing down. Think about all the headaches and sleepless nights you will have trying to figure out how to pay for your debts if you live beyond your means.

Consumer Debt Elimination

If you are already have a lot consumers debts, make a schedule of payments to help you determine how and when you will be able to clear yourself of debts. Take out all your credit card billing statements and evaluate them. In case you have more than three credits cards and all of these card are already near their limits, you might want to consider applying for debt consolidation and give up some of your credit cards. Always remember that it is easier to keep track of all your expenses if you only have two or three credit cards. Once you have your debts consolidated, you will only need to keep track of a single account and it will be easier for you to get things under control.

If you are afraid you simply cannot control yourself with credit cards, consider handing them over to a trusted family member. Instruct them to only give the cards back to you in an emergency situation. You will find that youll spend much less trying this trick.

James Copper is a writer for

Article Source: ArticleSpan

Fair Debt Collections Act

Originally posted 2009-10-30 01:33:29. Republished by Blog Post Promoter

The Fair Debt Collections Act is actually a foreshortened version of a federal law called the “Fair Debt Collection Practices Act”, often abbreviated as the “FDCPA.” The exact name of the law of course is not all that important. What is important is the protection offered to consumers by the FDCPA.  In essence, this law provides protection against harassment and abuse by debt collectors.

Fair Debt Collections Act – Protections

The law was created to prevent debt collectors from using old school, old world tactics for collecting debts. I’m talking about the stereotypical strong-arm debt collection tactics like making mob-style threats to induce you to pay, claiming to have you arrested if you don’t pay, or claiming to sue you. (A debt collector i.e. collection agency, cannot sue you over a debt – only the original creditor can sue you.) And keep this in mind; Verbal abuse, and generally any form of debt collector harassment, is strictly prohibited by the Fair Debt Collections Act.

Fair Debt Collections Act – Provisions

Many people are unaware that this law actually exists, and of the protections it offers them. There is actually a tightly defined code of conduct that debt collectors have to abide by in the course of carrying out their debt collection efforts. Besides those already mentioned, did you know that debt collectors may not call you outside of the hours of 8 a.m. to 9 p.m. in your local time zone? And one of my personal favorites: debt collectors may not call you at all, at home or at work, if you tell them not to. In other words, the FDCPA provides a cease and desist provision for consumers.

This is going to music to the ears of anyone experiencing excessive calls, threats, and demands for payment on their home, mobile, and office phones all day long. The rationale behind this provison of the Fair Debt Collections Act is simply that you have the right to tell debt collectors that you do not want to communicate by phone with them and that they must put all communication in writing – and they must comply with that request, by law.

Another great provision of the Fair Debt Collections Act is that when you document a debt collector violating any aspect of the Fair Debt Collections Act (i.e. record them engaging in verbal abuse, or keep records of phone calls received outside of acceptable hours) you can sue the debt collector for $1000 per violation. That can add up quick, and the debt collectors know it, which is why having a working knowledge of this law can provide you with immense power to stop debt collector harassment.

Originally posted 2012-02-01 23:05:42. Republished by Blog Post Promoter

Trust deeds are a highly appealing choice for Scots who find on their own unable to repay their spectacular debts. Designed and backed with the Scottish federal government, trust deeds entail transferring one’s legal rights to their personal assets to a professional trustee who negotiates with lenders within the debtor’s behalf. By managing your own personal assets, the trustee has the authority to liquidate sure assets to be able to fulfill creditors’ obligations. The benefit of securing a trust deed is that lenders are lawfully obliged to stop collections things to do, and so are not permitted to speak to you for purposes of securing cost.

Definitely, this is certainly a very good circumstance to the debtor. Furthermore, in contrast to the personal bankruptcy approach, there is absolutely no obligation to spend time in courtroom, and issuance of Trust Deed Scotland is not printed in newspapers.

The trustee serves to barter directly with lenders on behalf on the debtor. Presented this duty, trustees are necessary to fulfill quite a few requirements. Firstly, professional trustees are professionals that are controlled by Scottish law. Whilst debtors are no cost to pick their trustee, he or she needs to be appropriately accredited and needs to be a member of the qualifying insolvency agency. Quite a few trustees cost a payment for his or her service, a sum that’s the duty on the debtor. The amount billed is set with the trustee as well as the recommendations of their sponsoring membership agency.

Of the different types of trust deeds accessible, safeguarded trust deeds would be the most beneficial and in depth. With voluntary trust deeds, lenders are not necessarily obligated to honor the doc. Underneath a safeguarded trust deed nevertheless, all lenders are lawfully bound to the instrument and must honor its conditions, leaving the debtor no cost of harassing mobile phone phone calls, letters, together with other selection attempts. All cost and collections negotiations are completed concerning the creditor and trustee. Basically, the trustee can be thought of like a “middle man” concerning lenders and debtors. The debtor’s only obligation will be to fulfill the trustee’s requirements. So long as this is certainly satisfactory, the debtor does not have to appear in courtroom for virtually any reason.

The key disadvantage of the safeguarded trust deed is that it won’t be able to halt selection things to do initiated by lenders prior to the issuance on the deed. Having said that, at the time the deed is processed, all debts and accruing interest are frozen, stopping additionally accumulation of spectacular repayments. Beneficiaries of safeguarded trust deeds have their very own credit score frozen during the deed’s phrase, and credit score rating is impacted negatively to get a minimal of 6 many years. Thinking about the numerous benefits of safeguarded trust deeds, although, these factors need to be of modest concern to the debtor.

Trust Deeds Scotland is definitely the nation’s foremost safeguarded Trust Deeds Scotland enterprise and, in contrast to several trustee businesses, fees no get started up payment for his or her service. Additionally, Trust Deeds Scotland will help debtors create off up to 90% of their spectacular debts, leaving the remaining 10% to get paid off about a time period of three many years. Without concern, this respected enterprise need to be your to begin with resource when thinking of safeguarded trust deeds.

Originally posted 2010-03-22 08:30:59. Republished by Blog Post Promoter

Wouldn’t you love to be able to convince your money guzzling auto insurance company into paying off your debt? That’s exactly what some SUV owners out in California thought, and they successfully managed to use their auto insurance companies to pay off their debt. It was great-until they got caught! Here’s what happened out in California and why insurance fraud just isn’t worth it.

What Happened

Several years ago the economy began to droop-but then again, you already knew that! What you might not have known is that drop in economy left hundreds of SUV owners holding "upside down" bank notes stating that they owed more on their lease or current car loan than their truck was worth. They were struggling to make their payments while still keeping their SUVs insured, and many of them turned to GAP insurance to make up the difference between their auto insurance coverage and their vehicle loan if disaster struck.

This meant they were still paying extra every month and struggling to make ends meet. Something had to be done.

Who They Turned To

Many SUV owners contacted the Southern California dealer (names are not being revealed at this time) to see if they could trade their SUV in and purchase a cheaper model-like a nice four door, gas friendly sedan. Their dealers shifted them over to another department, who had a better proposition for them. They would connect them with a ring of arsonists who, for $300, would torch their SUV, allowing them to claim the loss through their insurance company.

Fraudulent arsons take place every time the economy takes a dip. One arson investigator not so fondly recalls the night he was called out to thirty two vehicle fires in a single evening. What most of these drivers didn’t know was that cops are good at identifying fraudulent vehicle fires. Really good. Why? There are a few tip offs that are impossible to fake. First and foremost, in most vehicle fires the owners are still standing nearby. When a vehicle is alone and burning the cops always start asking questions.

Anticipating this response many of these drivers had the foresight to declare their vehicles stolen, which only raises more eyebrows. And then there’s the little matter of accelerant. For an SUV to burn enough that the auto insurance provider will declare it totaled before the comps and the fire department arrive the arsonist is almost always going to use an accelerant. Most drivers assume that because cars use gasoline anyway no one’s going to notice if a little gasoline burns.

News Flash: There’s not usually gasoline INSIDE the cab. And yes, arson investigators notice these things.

How They Got Caught

Eventually the wheels of justice started turning and the police caught wind of the scam. They set up a sting, contacting the dealer and making arrangements with the arsonists to torch a vehicle fully equipped with cameras and a fuel switch. When the arsonist climbed into the cab, picked up their money and tried to drive away the SUV locked down and the firebug was trapped until the police arrived. This sting led to the arrest of seven other people and the end of the arson ring.

It just goes to show that no matter how well insurance fraud might pay, it’s always a bad idea.

Mike McDonough is a National Account Representative for For more information on auto insurance and auto insurance fraud visit them on the web at

Article Source: ArticleSpan

Originally posted 2012-02-12 23:25:42. Republished by Blog Post Promoter

There are many people easily available who are truly particular based on the volume of area they have within their house and they will be generally considering room addition San Antonio to possess a much better home. If you’re one of them folks, then you certainly should know the benefits of an additional room and the way it can get you to definitely feel really convenient together with your new house.

To begin with, you have to think about the type of vicinity that you might want to include. There are numerous types to pick from and you will make use of the one which you believe provides you with speedy and useful effects. You might offer to each one of these choices so you may select one that’s ideal for your home.

A really popular variation of these enhancements would be the family room that’s thought to be the ideal selection for just about any place even when it’s turned into one more bedroom. You will see that such edition supplies a great deal of advantages for your loved ones.

When you’re prepared to have such certain portion of your house, ensure that you have classified items effectively. It will help make sure that your ideas rhymes with no problems because clumsy system will provide numerous potential problems afterward.

The efficient use of this sort of region can be a space of enjoyment for the entire residence, or perhaps an expansion of the household room to enhance much more places. Regardless of the points, there are lots of types of applications that will allow you to definitely execute a volume of choices within the growth and development of one more place. This excellent procedure often leads anyone to decide on that which they believe might complement their property and needs.

There are plenty of benefits that may be experienced every time a property owner chooses room additions then one of the most popular benefits is it could make your home less congested plus more spacious. For those who have kids in your own home, I am certain they would prefer to stay and revel in a lengthy pr large house.

Debt-credit 101

Originally posted 2010-03-13 22:17:27. Republished by Blog Post Promoter

Many americans are in debt – some quite deep. Statistics show that the average American carries an average of $15,000 on their cards . That’s a lot of money! We are an instantaneous society meaning we want what we want when we want it. So when a consumer has a card, it’s often easy to just whip out the piece of plastic and charge purchases.

It’s not that we don’t intend to pay the bill – at least most of the time. Most people have good intentions when it comes to their credit card debt. They’ll pay the bill when they get their next paycheck, they’re expecting a cash windfall and they’ll pay the balance in full then, or they figure they can always make payments. But sometimes life happens and circumstances step in preventing people from paying down their card debt which is how many people get into trouble.

Credit card companies like this and they constantly deluge us with offers of low financing rates with high credit limits all in the hopes that they will run up a debt and then have to pay finance charges which is how they make their money. And those offers are coming to people at younger and younger ages.

It’s not uncommon for a new high school graduate to get a offer that they send in for. Many of these young people love the feeling of being able to charge merchandise without having to pay for it at the time. Many of these young people are also not financially savvy and the debt piles up rather quickly.

If you find you have gotten yourself into a problem with credit card debt, it’s important for you to take steps right now to take care of it. That means you need to pay down that debt as quickly as you possibly can until you can achieve a zero balance. Probably the best idea to get out of debt is to cut up the plastic and then make the largest payments you can for as long as you can to help take care of the problem.

Credit card debt is a fact of life for many Americans and it can affect credit ratings which can cause denial of a loan for a car or a home. Get out of debt as soon as you possibly can. It will reflect well on your credit report and make potential future lenders trust you more as a good credit risk.

College students are running up an alarmingly large amount of debt these days and it is only increasing with the passage of time. The average undergraduate student carries $2,500 in credit card debt and by the time they graduate from college, they are beginning their new lives in the "real world" with debt that they can’t pay.

Students figure: I’ll live like I want to now and then when I get a job it will be easy to pay it back. This is often not the case. Lower-than-expected salaries, plus higher-than-expected living expenses and hefty student loan payments, make handling debt all the more difficult for students and recent grads.

And the worse part about college students having so much credit card debt is that it takes so long to pay it off. Even if they are able to make the minimum payments, by sticking to minimum payments it would take a student more than 12 years and $1,115 in interest to pay off a $1,000 bill on a card with an 18 percent annual rate. If students fall behind in their payments, they get slammed with high late fees. And it’s easy for things to get out of hand.

Of course, there are two sides to this story. Most college students start out with little and even no credit, so having plastic seems like a good idea so they can start building a credit history in anticipation of owning a new or better car and even, someday their own home. Except for if they haven’t been warned of the dangers of using credit cards or are especially naïve, this could be a bad move.

Credit card debt for college students affects many, many aspects of their college lives. They can’t pay their bills regularly and find themselves short of cash. Plus, it can affect their ability to secure a student loan which can be crucial with ever-rising tuition rates. And parents should beware of putting their college student on their own credit card as an authorized user as the same debt can pile up under the parents’ names and cause some serious credit problems.

Armed with the right information, many students are able to establish credit and steer clear of card debt. Even though college students do carry credit card debt, 54 percent of college students pay off their credit card balances every month. Most tend to be responsible and use the card wisely.

However, some of them don’t and they’re getting into trouble. If a person makes it through 18 years of life without any financial wherewithal, it’s very difficult to change their behavior and that’s why it’s so important that parents speak to their children about money management. To keep a college student out of credit card debt, the key is teaching students money management skills before handing them a credit card.

Alphonso Smith has long advocated more personal savings nationaly and less global debt. He has written several books and numerous articles on personal finance. These days he is advocating more help for the middle class, who are the back bone of the economy. For a free 7 lesson e-course that will give your credit more muscle: Click on link below.

Article Source: ArticleSpan

Facts To Know About Debt Management

Originally posted 2010-02-05 02:01:03. Republished by Blog Post Promoter

Debt management refers to an unofficial procedure of negotiation with the creditor in order to get a cutback in the rate of interest taxed or to decline contractual repayment. The negotiation procedures involve offering testimony to the creditor that the debtor does not have sufficient funds to meet up all the obligations.


This is the most appealing criterion of debt management. It is universal and open for the entire population. Anyone can take the benefit of it. No matter what your current financial status is, whether you have good credit or a bad credit or filing a bankruptcy, debt management works for everyone.

Debt management helps every debtor in improving the credit score by facilitating him responsible to a single low payment on a monthly basis. With the help of effective negotiation policies, debt management companies make the creditors understand about the existing financial condition of the debtors and work out to resolve the condition.

Debt Counseling

Debt counseling is an integral component of an effective debt management. A debt counselor guides the debtor about appropriate management of existing debt and helps the debtor to find out solutions to pay off the debts as soon as possible. Typically debt counseling may involve a wide range of techniques.

The first thing that a debt counselor suggests is to curtail expenditure on unnecessary things. The debt counselor also designs a budget that the debtor is asked to follow rigorously. If the debt has sustained for a prolonged period of time, appropriate arrangements are also advised during the debt counseling session.

Debt Consolidation Loans

This is another effective debt management tool. Debt consolidation loans facilitate a settlement of debt taken by the debtor. It focuses on making the repayment easier by minimizing the rate of interest. The debt consolidation loans help in securing the current debts of the borrowers along with a lowered interest rate.

Potential Benefits

Debt management strategies are designed by the expert debt management agents who have gained an in-depth experience in this field. It effectively aids the debtors in repaying the debts at an affordable and lowered rate of interest. Additionally, it helps in consolidating the unsecured debts to a single monthly payment.

You must be aware of the fact that a majority of debt management companies who demand huge charges against their debt management services. But certainly there are few companies who do the same job at a lowered fee.

For more information about debt management please visit my Debt Management website where you can find more articles and information about debt management

Article Source: ArticleSpan

The Great Credit Card Fraud

Originally posted 2012-04-14 22:17:03. Republished by Blog Post Promoter

In the face of surging bankruptcies, challenging times, and increasing credit card fraud you’d think the credit card industry could be on the ropes. But that’s far from the truth. The truth is, this past year the industry posted near record profits. How did they do that? Easy – by stealing you blind!

They run high-priced TV ads in the midst of January tempting you with white sandy beaches and warm tropical sunshine. Or they show a couple happily sipping champagne on the deck of their cruiseship stateroom in the sunny Caribbean. It looks mighty good every time a bitter winter storm is howling outside your window!

Their purpose is very simple: get you into debt and after that help you stay there for as long as possible while they bleed you dry with a toxic blend of high interest rates together with other hidden charges. The things they do should really be criminal since it clearly preys on the human weakness of desire. We’d like things for ourselves as well as for our family members. It’s only normal. They provide what we want and after that over time they charge us three to six times the initial price. But don’t expect the government to provide protection anytime soon. The charge card industry has considerably more influence over our law makers than we ever will. They make huge campaign donations so the government happily provides them with a license to steal and throws us to the wolves. Consequently the madness continues.

Where will all of it end? Personal bankruptcies will top 1.4 million this current year. Total credit card debt is currently more than two trillion dollars and headed towards the moon. Eventually this concern must be dealt with on a national level fo the time being – you’re completely on your own.

Fundamentally if you have a ton of credit cards and unsecured loans and if you’ve been late with a payment or two you can expect that a majority of issuers will notify the big three credit bureaus and you will end up getting one or two negative marks against your credit score. Though those marks will stay for around seven years, the good thing is that you can begin to rebuild your credit immediately. Just be sure to make all your minimum payments right on time.

Crizza Reyes
Crizza writes for many women’s blog sites and periodicals about issues concerning women. For more information about credit cards and unsecured loans please see more at our web site or on Amazon.

Originally posted 2012-02-17 00:33:58. Republished by Blog Post Promoter

Debt is a major concern for many individuals around the world. Even though there are many debts that can be prevented and can be paid with small payments, there are many people who are dealing with debt every day. Some individuals cannot even pay their debts. However, individuals can also make use of free debt management services to help gain insight into methods they can use to improve their circumstances.

A free debt management service is the most useful to individuals who do not have enough money to pay for other management services in their area. Because a large amount of your money may be devoted to trying to pay off your debts, it makes no sense to pay additional fees to debt management companies. Likewise, if you are one of the many people that cannot pay your debt at all, you likely cannot afford the fees that are associated with these services either.

The great thing about these types of services is that they can help you by creating a free debt management plan. This will provide you with options of payments that can be made and various actions that you can choose to help you manage your debt in the meantime. Regardless of if you need to contact a credit bureau or work with the service to get your debt settled, you will discover that there are numerous options to choose from.

Many wonder how they can find these types of free debt management services in their area. You can find a lot of information by checking out some of the programs that are provided by your state or town. There are generally several programs that you can contact for guidance if you are having problems with debt. If there is nothing available in terms of government programs, you may want to check out the internet for more resources.

In most cases, you can find local programs that should be considered. It should be noted that not all of these options may be free. Despite the amount of debt that people continue to incur as time progresses, not every city or region has a free debt management program. You may have to contact a local debt management service and inquire if they would be interested in working with you more flexibly in consideration of your current debt situation. You can even contact debt management services that are outside of your city for guidance and information about what you can do to deal with your debt problem.

Overall, you do not have to allow your debt situation to control your life or destroy your finances. You will discover that there are many alternatives and solutions that exist to help you improve the situation. The key is to contact a professional service that can provide you with advice and guidance in consideration of your circumstances. Additionally, do not always assume that you will need to pay an expensive fee for these services; there is a wide range of free debt management plan that will help you for a smaller price or for free. By considering all of your options, you will greatly improve your chances of getting out of debt with less stress.

Follow These Tips To Repair Your Credit.

Originally posted 2012-02-23 00:44:01. Republished by Blog Post Promoter

A good credit score is extremely important in your everyday life. It determines whether you are approved for a loan, whether a landlord will let you lease his/her property, your spending limit for a credit card, and more. If your score is damaged, follow these tips to repair your credit and get back on the right track.

If you can’t get an unsecured credit card or loan, get a prepaid credit card (credit card debt relief) or secured loan instead. This is a great way to get your credit repair going by showing you’re a trustworthy borrower who will pay their bills on time. Don’t get a card with a huge upfront fee, though, as there are many options which are reasonably priced.

If you are going to check your credit report for errors, remember that there are three national credit-reporting agencies that count: EQUIFAX, TransUnion and Experian. Different creditors use different agencies when considering loan applications, and some may use more than one. The information reported to and recorded by these agencies can vary greatly, so you need to inspect them all.

An important tip to consider when working to repair your credit is the fact that your credit score will never remain the same. This is important to know because you should expect changes to it for the positive or negative and not be overly worried as long as your follow all of the basics for establishing good credit.

While patience is an important part of the credit repair process, you should always follow up on letters you send, no matter who the recipient is. It might be hard to believe but some credit bureaus and debt collectors use the ostrich’s strategy (i.e. burying their heads in the sand) to deal with debtor’s letters. Send more letters after unanswered ones until you get a reply.

Always keep your bank accounts, your tax payments and your utility payments in order and timely. The way in which you manage these necessities reflects strongly on your credit rating. Falling behind on your obligations and having overdrafts at the bank negatively impacts your daily life and makes it more difficult to get credit.

When you find errors on your credit report, dispute them to the reporting agency. About 75% of all credit reports contain some sort of error. It may be an item that should have dropped off your report. It may have been an account that was paid in full but is still showing as outstanding. Clear these items off to give your score a boost.

If you are trying to improve your credit score, be sure that you read your credit card statement every month. Only by reading your your statement will you notice if any unauthorized charges have been made or any unexpected fees charged. In most cases, you must report an authorized charge within a short period of time to have it contested.

Always remember to work well with credit agencies. In some cases, these agencies are just seeking some sort of collection, whether the full price or a highly discounted amount. If you are working well with these agencies, you could receive great discounts that could have been left out of the negotiation otherwise.

A great way to repair your credit is to hire a credit review company. These companies are experts in the industry and are well-versed in knowing what to look for and how to go about fixing the problem for how to avoid debt collectors. Once a review is complete, they will set you up with a sound financial plan that can help get your shaky financial situation back on track.

The world offers little sympathy for people who have bad credit, that’s why it’s so important that you take the necessary action to fix your credit score as soon as possible. Use the information you learned here to fix your score permanently and even get out of debt altogether.

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