Free Credit Report Repair Guide

I have a friend who I have personally lent $12,000 to in the last 5 years. He is my best friend as you can tell… Of the $12,000 dollars I have lent him, he has paid back about $5000. Not bad but not great. Before you guys jump all over me I stopped lending him [tag]money[/tag] about two years ago and have him on a monthly repayment plan. So far so good.

I really didn’t want to share this with every one but the fact is friends will ask for money and it can in many cases lead to the end of a friendship. I would highly recommend people learn from my mistakes.

Because my friend is on a monthly re-payment plan we are able to stay friends. If he just “shined” me there is no way we would still be friends today. Bottom line, think twice, three times and then thing again before lending substantial amounts of moneys to a friend. More likely than not [tag]lending money[/tag] to a friend who is not capable of paying back the loan will be the end of the friendship.

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]!

[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!