Cost of paying the minimum

The true cost of paying the minimum on your credit card will suprise you, if not scare the day lights out of you. If you need a reality check please check out this very cool tool over at

Talk about motivation to pay off debts!!! And motivation is half the battle. Have a good weekend!

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Credit Score Scale.

this is a great graphic which will give you information on how your credit score is created.

Trying to build credit

Also found this video that will give you the same info:



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Spoof on Debt

Don’t buy stuff you can’t afford! While it’s a spoof, it’s very acurate! Enjoy then take steps to get out of dbt now!!

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A dollar saved

Every dollar you can save is a dollar you can use to pay off debts if you have them or add to your savings or investment accounts. Liz Pulliam talks about saving on insurance if you can afford d to pay it up front.

Let’s say you had a $1,200 annual auto-insurance bill and that your insurer would charge $2 a month if you opted to pay the bill monthly by automatic debit from your bank account. You would save $24 in annual fees by paying the entire bill in advance.

Bill-paying convenience — for a price – MSN Money

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Credit Scoring Schooling

Talk About someone who is passionate about Credit Scoring!! Read this article and watch John take Liz to school on credit scoring…

Ok, I realize that credit scoring is a complex thing. Sure, it’s not a recipe for spaghetti. It’s confusing, irritating and even infuriating sometimes. But, come on Liz…get some of it right.


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Late credit card payments up

We are all feeling the pinch of the summer gas prices. Be careful if you are late the Credit Card Company can raise your rates. So not only do you get hit with a late fee but an over all increase in monthly due to the credit company

Late payments on credit card bills edged up this past spring, when high energy prices were squeezing the finances of some people and making it hard to pay bills on time.

The American Bankers Association, in its quarterly survey of consumer loans, reported Wednesday that the percentage of credit card payments 30 or more days past due increased to 4.41 percent in the April-to-June quarter, up slightly from 4.40 percent during the January-March period.

Late credit card payments edge higher – Yahoo! News

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Starting a Business on Credit

Don’t do it!!! Listen to Dave! I made this mistake about 4 years ago and I am still paying off the debt from a business that failed before it got off the ground.

It rates as one of my dumbest action so far in my life. So listen to me and Dave and save yourself the pain.

Take it from a former businessman; credit ain’t the way to go to start a small business. More often than not, small companies don’t get off the ground. Most of the ones that do only go for a little while before they crash and burn, baby. Using credit is bad enough, but even worse is when your biz goes under; then you have mountains of debt and molehills to show for it. That’s double dumb. Using Credit? Get A CLUE! – Blog

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Tax to reduce debt

I found this article over at and I have to say it is right on the money. I personally have used my tax returns to buy “stuff” and never thought of using the money as a debt reduction tool. A very powerful one as pointed out in this blog.

This all changed about 2 years ago when the debt was too much and I need a way to really jump start my debt reduction. The first year I used most of the taxes to pay debt and i adjusted my W-4 so less would be with held. The next year I got less back at the end of the year and had more to pay off debt through out the year.

I still get money back at the end of the year so I need to adjust my W-4 again this year.

For anyone looking to really start to create a debt reduction “snowball” tax time is a great way to kick it off.

With the average American household carrying about $8000 in credit card debt, the average tax refund of approximately $2500 could eliminate over 30% of that household credit card debt. Unfortunately, many people view a large tax refund as a windfall and rarely spend it wisely.

Would You Like an Extra $200 Per Month? » My New Choice

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Credit Report Dispute Letter

This is really good information. You guys should check out this blog It’s really good.

Despite this prohibition, Consumer Data Industry Association (CDIA) stated in their May 22, 2006 comments to the FTC that “one of our members testified that more than 30 percent of all consumer disputes were generated by credit repair agencies, which commonly dispute accurate, derogatory information with the sole intention of having that information deleted from the file”. The Credit Reporting Agencies (CRA’s) response is the creation of an Automated Consumer Dispute Verification (ACDV) system that is designed to speedily handle a tremendous volume of disputes. Any letter that appears to have been sent from a credit repair agency (apparently more than 30% of all disputes appear so) may be labeled “frivolous” under a provision of the Fair Credit Reporting Act (FCRA). This labeling effectively ends the investigation process by the CRA’s on your behalf. Is it any wonder why the majority of credit repair companies have a bad reputation? Their form letters do not work. There is no magic form letter that will make bad credit go away. Imagine working in the dispute resolution department for a furnisher or a CRA. According to court testimony in Carol Fleischer v. Trans Union, et al. US District Court for the Eastern District of Michigan (Southern Div); Case No. CV 02-71301, Capital One employees processed approximately 4,000 disputes daily and each employee was responsible for processing thirty disputes per hour. With such a high volume of disputes viewed by these employees, do you believe that the repeated use of a credit repair companies form letter would go unnoticed? Of course it wouldn’t. Please note the following excerpt from the Fair Credit Reporting Act:

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House prices show first annual fall in 11 years

More bad news for people trying to sell their homes and more good news for people looking to buy homes. There is always two sides to a story…

The pace of existing home sales in the United States fell for a fifth straight month in August and prices dropped from year-ago levels for the first time in more than 10 years, a realtors group said on Monday.

The National Association of Realtors said existing homes sales slipped to an annual rate of 6.30 million units from a 6.33 million unit pace in July.

House prices show first annual fall in 11 years – Yahoo! News

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