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American Credit Builder

September 23, 2006 by Leave a Comment

I found this review of AmericanCreditBuilder.com. It’s very interesting and well worth your read. I really enjoy it when someone reviews a product or a service for the sake of information and not to use it to sell you the product.

Nice job Chuck Jaffe.

American Credit Builder helps members build their credit rating by making sure nontraditional payments are part of the mix. Credit bureaus normally focus on charge cards and consumer loans, but American Credit Builder gets them to look at utility payments, rent and other regular expenses. Reporting these payments to more than 175 credit bureaus is supposed to help establish a responsible credit history.

Hard to tell what fix is in with this credit-repair service – MarketWatch

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Filed Under: credit repair

Real Estate Down turn

September 22, 2006 by Leave a Comment

As fast as it came it seems it will go away just as fast. Housing boom is over. For some it means they will have to hold on to their homes longer than expected or sell for a lower price. For others it will mean a financial hardship. Check out the audio story from NPR.

The real estate market has made a surprisingly quick downturn in some parts of the country. The change in direction has left many homeowners holding property they can’t sell at the price they would like, or need, to get.

NPR : Speed of Housing Downturn Surprises Homeowners

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Filed Under: General News

Credit Doctor in trouble

September 21, 2006 by Leave a Comment

Looks like the Texas AG is going after “The Credit Doctor” for fixing credit reports with out a license and other charges… if you read the story is sounds more like the state of Texas didn’t get paid so they went after this guy…

The Credit Doctor has been in business for seven years, but now he may have to shut down. The AG’s office is suing him for fixing credit reports with no license and advertising help he cannot deliver.”He’s claiming to have restored credit for thousands of people. He claims to be operating within all state and federal regulations. And, we know that to be blatantly false,” Spokesman for the Attorney General Tom Kelley said.

KXAN.com – Texas AG Suing Austin Credit Doctor

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Filed Under: General News

Credit Scores

September 21, 2006 by Leave a Comment

Texas has the lowest average credit score, 650, but as the article points out that score is not that bad. Read on for more details.

A lower score leads to higher interest rates on everything from credit cards to mortgages, Orman saidA score of 850 is the highest one possible, and an ideal score is around 760 or above, according to Orman. Anything below 700 will leave consumers with high interest rates, and anything below 600 will take at least three years to repair.Repairing credit scores starts with paying off credit cards, starting with the one with the highest interest rate, Orman said.”Keep paying the minimum on all the rest,” Orman said. “As you keep doing that, you roll it down and roll it down and guess what? Before you know it, you’ll be out of credit card debt.”

nbc5i.com – News – Good Credit Scores Vital

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Filed Under: credit repair

Federal Reserve Rates

September 21, 2006 by Leave a Comment

With Fear the economy is cooling the Fed’s are not touching rates. It is thought the next time they do address rates it will be to lower them.

It is looking more and more like it could be 17 and done for theFederal Reserve. There is a growing view that after 17 consecutive rate increases, the longest stretch in Fed history, the central bank will keep rates steady for the rest of this year.

Experts: Fed could be done raising rates – Yahoo! News

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Filed Under: General News

Payday Loans Suck

September 21, 2006 by Leave a Comment

Dave Ramsey tells us why…

People gripe about 29 percent interest on credit cards, but the rates that these yahoos charge can get up to 650 percent! That ain’t how smart money works, jack. If you need extra cash, get an extra job. But if you use these payday joints, you’ll make your deep money hole even deeper. You’ll be digging your own financial grave, one advance at a time.

Debtective.com: Using Credit? Get A CLUE! – Blog

Up 50%! There should be a law against this!

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Filed Under: General News, Payday Loans

Even the Rich Budget

September 19, 2006 by Leave a Comment

I would argue that Millionaires are probably some of the best at budgeting.Golden rule: If you can’t measure it than you can’t manage it.

A personal budget is among the most important concepts of personal finance. In a personal or family budget all sources of income (inflows) are identified and expenses (outflows) are planned with the intent of matching outflows to inflows. There are a wide variety of personal budgeting methods and tools that can be employed to help individuals and families with the budgeting process.

Personal Finance Blog – » Even Millionaires Need to Budget

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Filed Under: Budget

Gas is down.

September 19, 2006 by Leave a Comment

Here in L.A. gas was down to $2.66 a gallon which is about 44 cents lower than the summer high.This was a very nice surprise. We filled up both cars…

Gasoline prices have fallen more than 40 cents over the past two months. But that sharp decline hasn’t received nearly as much attention as the big run-up in gas prices earlier in the year. The slide has everyone asking if it’s a long-term trend, or just a brief respite from higher prices.

NPR : Oil and Gasoline Prices Drop Quickly, Quietly

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Filed Under: General News

work your way up

September 18, 2006 by Leave a Comment

I agree 100%! You have to be willing to work and learn to get to the top. The only way you walk right into the corner office straight out of college is if your dad owns the business!

Working your way build character!

Seems like some people nowadays have forgotten what it means to earn your keep, baby. Lots of up-and-comers want to walk out of college and into the corner office and a big-time position in the Fortune 500 company. It doesn’t work that way.

Debtective.com: Using Credit? Get A CLUE! – Blog

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Don't mess with the IRS

September 18, 2006 by Leave a Comment

A very good friend of mine owes some back taxes… With the announcement that the IRS will now use private debt collection agencies, gives my friend a real incentive to start to pay it off.

If anyone else is in the same boat and feel it’s time to get rid of the IRS, then check out this blog post on about.com regarding how spot fraud and see IRS’s tips on protecting consumers…

Don’t Get Scammed By Debt Collectors Claiming to Be Collecting for the IRSToday is the day the IRS’ program to refer collection of back taxes to private 3rd party debt collectors will kick off, and with that kick off will come an increase in scams and phishing attacks from people pretending to be collecting on behalf of the IRS.To combat this possibility of fraud, the IRS has published some simple tips to help protect consumers from these types of scams.

Credit/Debt Management – Tools and Advice for Managing Credit and Debt

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Filed Under: Collection Harassment
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