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Huge Debt Gone Fast

November 13, 2006 by Leave a Comment

Pay off $49,000 in [tag]credit card debt [/tag]in 5 years.

Have you seen commercials and internet advertisements offering to eliminate your debt in just a couple short years? No matter how much debt you have? Does it seem to good to be true? So what is the deal? Well there are two methods that can achieve this type of radical debt pay off.

The First method is debt settlement:

[tag]DEBT SETTLEMENT[/tag] or [tag]DEBT NEGOTIATION[/tag]:
“You make an offer to your lender to pay off 30% to 50% the current balance you owe. This is pre-collection agency. This process can take 6 months or more and it’s not for the weak of heart.”

This method can work to get you out of debt but it will trash your credit. It’s a trade off and some see it as an alternate to Bankruptcy.

The Second Method:

[tag]DEBT SNOWBALL[/tag] or [tag]DEBT ROLL-UP[/tag]:
“The overview for this program is you pay more a month than your monthly minimum on one debt while you stay current on all your other debts. You start applying the extra money every month to the smallest balance, and once that balance is paid off you apply all the money from that debt to the next largest balance. This will create a snowball effect in paying off your debt.”

This method is championed by the likes of [tag]Dave Ramsey[/tag] and [tag]John Cummata[/tag].

If you would like to read a real life story about people who got really motivated and paid off large amounts of debt in a short period? Check out this article and get a bit of motivation.

Filed Under: Debt Relief

Drowning in Debt

November 10, 2006 by Leave a Comment

Are you [tag]Drowning in Debt[/tag]?

What do you do if you find your self drowning in debt? Swim like hell! I mean it! You must do everything in your capacity to swim your hardest to get your head above water. I know the weight of debt can feel so heavy, like a concrete block attached to your feet. You fear the weight will pull you to the bottom of the ocean

It does not have to be that way. I know. I have been there. With a little education, a game plan and a lot of [tag]motivation[/tag] you can get your head above water. It takes consistent action and time.

Many before you have been in the same situation and have found a way to over come their financial troubles. So, if [tag]debt[/tag]is crushing you take a deep breath and start to fight back. Little by little you will start to crush your debt.

Read as much as you can on debt and [tag]debt reduction[/tag]. Make a plan and get really motivated to set yourself free. Take daily actions to make your freedom happen.

Hope everyone has a great weekend.

Filed Under: Motivation

Good News About Credit Cards

November 9, 2006 by Leave a Comment

In 2006 for the first time [tag]debt card[/tag] usage outpaced [tag]credit card[/tag]. People used their debt cards to purchase

26.6 billion dollars while at the same time they spent 24.4 billion dollars on credit cards.

Is this a new trend to pay now and avoid paying for it later? Let’s hope so. It means more people are [tag]paying[/tag] cash

for things rather than put them on credit. Still 24.4 billion is way too much in credit but if this trend holds the American

consumer are getting themselves in a better position.

One troubling trend is more people used [tag]home equity lines[/tag] to pay off [tag]high rate interest cards[/tag]. Many

people will use this method to successfully pay off their debt but it does come with its own very serious risks.

When you use home equity to pay off [tag]unsecured credit card debt[/tag] you have basically tied the debt to your house. What happens if you are unable to make your payments? A loss of the job, etc… Now your house is at risk.

I personally get great satisfaction in pushing the debt card button and not the credit button when I buy things. It sounds like

Americans are also is felling the same satisfaction in using [tag]CASH[/tag]!

Filed Under: General News

Virginia Senate Race

November 8, 2006 by Leave a Comment

[tag]Virginia Senate Race[/tag] [tag]Election 2006[/tag]

If the Senate race goes for the [tag]democrats[/tag] will this mean America will face higher taxes? This was the Republican battle cry during the 2006 campaign. Let’s take a look.

There is no real clear answer and only time will tell. But here are couple things to think about. I believe the Democrats will not renew any new tax cuts for the upper class. Upper class defined as anyone making over $200,000 a year. Some would see this as a tax hike, your call?

[tag]Nancy Pelosi[/tag] did say they are looking at [tag]tax cuts[/tag] for the middle class? Ok, but what about an increase. Not likely, thanks to checks and balances we have in our government. [tag]Bush[/tag] would never sign off on any new taxes. He needs to recover his party as much as possible in the next two years.

One thing is for sure congress will tighten up its belt on spending and start to find a way to work down the enormous national debt we have created in the last 6 years. The combination on [tag]9/11[/tag] and the wars abroad have taken its toll on the [tag]national debt[/tag].

So what does that mean for you and me? Probably not much, but just like congress, the [tag]American family[/tag] needs to pay more attention to its spending and find ways to quickly eliminate debt. If we want a strong country we need to have a strong financial health of the American family.  In the end we are all Americans and we all want the best for our families.

So let’s put the elections behind us and get back to Crushing Debt!

Filed Under: General News

Video of Kirstie Alley on Oprah

November 7, 2006 by Leave a Comment

Here is the video everyone is looking for: [tag]Kirstie Alley on Oprah[/tag]

What does this have to do with [tag]debt reduction[/tag]? Read this post.

[youtube]I5rngKHibrM[/youtube]

Filed Under: Motivation

Kirstie Alley in a bikini

November 7, 2006 by Leave a Comment

We were watching the news coverage of [tag]Vote 2006[/tag] this morning and in between races coverage a story about [tag]Kirstie Alley[/tag] aired. Alley had made a deal with Oprah she would come on her show wearing a [tag]bikini[/tag]. So what’s the big deal? Well a year ago Alley weighed in over 220 pounds. She had let her weight spiral out of control.

A year ago she was eating over 8,000 calories a day! That’s more than 4 times the recommended daily intake for a woman of her size. She did not exercise. She smoked. She ballooned past 220 pounds. Forget the vanity aspect of gaining that much weight, it’s just plain unhealthy to eat like that. You are putting yourself at a great health risk.

Once Alley realized she had let her weight get completely out of control, she decided to do something about it. It was time for a change. A very big change. She set a goal of getting into a bikini in a years time and doing it on the [tag]Oprah show[/tag]. This means she would have to shed over 70 pounds in less than a year’s time.

To do this she needed a game plan. So she drastically cut her caloric intake and made smart food decisions. She hired a personal trainer to help her stay motivated and teach her the right way to work out.

Let’s fast forward to this week. She is now 145 pounds, stopped smoking and feeling great. I forgot to mention she is 55 years old!

So what does this have to do with getting rid of debt? Everything! Being deep in debt is much like being 220 pounds over weight. To gain that much weight you had to have some very bad habits. To be deep in debt you also have to have bad habits or unfortunate circumstances.

Loosing 75 pounds in a year takes a couple things. Look how Alley did it:
First you have to realize there is a problem.
Next you have to make the decision you will get rid of the weight.
You make a game plan and get educated on how to loose the weight.
You take daily action to reach your goal.
You stay motivated. In her case she hired a personal trainer.
You celebrate the small victories as over time they will add up to one big win.

This is exactly what you need to do to get out of [tag]debt[/tag].
Realize there is a problem
Make a decision to change your financial situation
Educate yourself on how to reduce your debt
Take action
Stay motivated.

In time you can achieve your [tag]debt free[/tag] goal.

When I talk to people about debt reduction the two hardest obstacles to over come are finding accurate information about [tag]debt reduction[/tag] methods and staying motivated.

Please use this free blog to get accurate information and Motivation. Check out other sites I link to for motivation as well. I once was in a debt hole so deep I thought I would never get our but using the simple steps noted above. However overtime I have been able to crawl out of my terrible situation. It takes a plan, action, motivation and time.

I applaud Kirstie Alley for her courage and dedication! I truly take this as a source of motivation and inspiration in my life. See the video Here.

P.S. To day is [tag]Election Day[/tag] in the U.S.A so please go out and vote. Exercise your right as an American to vote. Today is a day we get to stand up and voice our opinion. When I was 18 my dad said to me; “if you don’t vote than you have no right to complain if the government does something you don’t like.”

Voting is patriotic. So get out and cast your ballot.

 

Filed Under: Motivation

Life Takes Visa

November 5, 2006 by Leave a Comment

I was watching TV this weekend and I saw numerous “[tag]Life takes Visa[/tag]” Commercials. I also see these billboards all over the city. If you haven’t seen the commercial the basic gist is as follows, life is too expensive and there are so many things we “want” to do and buy so we need a little help from your friends at Visa to accomplish these goals.

Using your Visa to pay for things you really can’t afford is one way to live your life or you could save money and [tag]pay cash[/tag]. It’s a free country so you make the choice.

But keep this in mind.

You will end up paying much more for the item than if you had just paid in cash. The amount of money you use to pay your Credit card minimums subtracts from the money you could put into a savings account or other investment accounts, which stops you from building true wealth and a secure future. If you amass too much debt the stress involved is enormous. This can take a hefty toll on your relationships with those you love. For this reason alone Visa should change there slogan to “Visa takes Life.”

Yes, life is expensive but just because you want it doesn’t mean you should have it right on the spot. I was once one of the legions of Americans who bought into the “Life takes Visa” way of life, but after creating a [tag]debt hole[/tag] so deep I thought I would never get out, my attitude changed real quick.

I changed my situation around by doing the following:
Realize there is a problem with your spending habits
Stop spending on [tag]credit[/tag]
Put together a budget
Put together a [tag]debt reduction[/tag] plan
Take action
Stay focused

You will be [tag]debt free[/tag].

 If you are in the same place as I was years ago you can get out but you must get focused and change your attitude about spending, and you must do it now!
 

Filed Under: Credit Cards
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