Free Credit Report Repair Guide

I found this article over at mynewchoice.com 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

technorati tags:debt reduction “snowball, debt

One of the worest things about being in debt trouble is being afraid to answer the phone or open your mail. This list of 50 found on bankrate.com is inspiring if you want to get out of debt. For some reason 23-26 struck a chord with me. How about you?

23. Not screening for credit collection calls or letters.
24. Looking forward to opening your mail.
25. Never having to meet Judge Judy.
26. Reading a statement that reads “paid in full.”

50 good things about being debt-free

technorati tags:being debt-free

I found this great online stream on NPR about how to get out of debt. Some really important info is in this 30 minute online radio show. I know it’s hard to find 30 mintues in the day just to listen to a radio show but it’s worth it.

Here is a direct link to the radio show

Financial analysts and a collections expert discuss the process of debt collection and why some consumers who don’t know their rights end up more in debt than when they started.Guests:Walter Robinson, editor of The Boston Globe series called “Debtors’ Hell”; assistant managing editor of the GlobePeter Duffey, owns Double Helix Inc., a private investigation firm, which provides debt collection support servicesLiz Pulliam Weston, writes a twice-weekly column for MSN Money; author of the books Your Credit Score and Deal With Your Debt

NPR : In Debt, with No Easy Way Out

technorati tags:debt

Money guru Jean Chatzky knows her latest book, “Pay It Down: From Debt to Wealth on $10 a Day,” centers on a gimmick.

10 easy ways to stash away thousands - MSN Money

So what is the gimmick? If you just took $10 a day and saved it that would equal $300 a month, $3,600 a year, $18,000 in 5 years, this is all simple math with out factoring in interest. A gimick that works. The only probelem is it takes discipline to do it and not spend your savings on things versus paying off debt.

technorati tags:paying off debt