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50 good things about being debt-free

August 25, 2006 by Leave a Comment

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

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Filed Under: Debt Relief

How to avoid late fees

August 25, 2006 by Leave a Comment

I found this article on ExineArticles. It’s titled How to avoid late fees. I have one simple full proof method, pay on time!! No need to read this article, just pay on time. However if you want to read it you can.

Everyone hates late fees and being late will cost you dearly these days. For some credit cards today, if you are late, you will have to shell out as much as $40 each time. This can put a nice sized hole in your pocket really quick.

How to Avoid Credit Card Late Fees

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Filed Under: Credit Cards

Respond to Debt Collection Letters

August 25, 2006 by Leave a Comment

BankRate.com has posted two really good form letters you can use when dealing with debt collectors. It’s best to arm yourself with knowledge before you take on the likes of a collection agency.

Getting out of debt requires an aggressive plan, especially when dealing with collection agencies. Proactive measures can save you money and time, as well as help you avoid drastic consequences, such as a lawsuit or wage garnishment. These letters will help you take control of the situation.

Responding to a debt collector
Debt collectors ringing your phone off the hook for a debt you don’t owe? This letter will set them straight.

Negotiating with debt collectors
When you’re ready to get a debt out of collections, it’s in your best interest to get the best deal possible. This letter will get your negotiations started.

Form letters for debt collector problems

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Way out of Debt

August 24, 2006 by Leave a Comment

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

 

 

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Los Angeles Living, Without a Car

August 24, 2006 by Leave a Comment

Living in L.A. with out a car! Wow this is hard to do. I live in L.A. and can’t believe how much this city depends on the car. I grew up and was raised in the east coast where we all took the subway and buses. It was just a way of life… Anyway if you are looking to save a lot of money get rid of the car. Listen to this NPR clip and see how he does it.

Chris Balish is the author of the forthcoming book How to Live Well Without Owning a Car: Save Money, Breathe Easier, and Get More Mileage Out of Life. He talks with Renee Montagne about how to live without a car, even in Los Angeles.

NPR : Los Angeles Living, Without a Car

Filed Under: General News

Consumers Are Suing Credit Bureaus

August 23, 2006 by Leave a Comment

This is really big. The courts are backing the consumer on accurate credit reports. This is a big win for the consumer. What is shouldn’t mean is we go an sue as soon as something is inaccurate, but rather us as a last resort.

Last month, the 5th Circuit Court of Appeals ruled that the credit bureaus are ultimately responsible for the reinvestigation of disputed information in their systems and cannot shirk that responsibility by blaming another group for the false information. Morris v. Equifax Information Services, 2006 WL 2043567.

More and More Consumers Are Suing Credit Bureaus

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Filed Under: credit repair

Debt to Wealth on $10 a Day

August 23, 2006 by Leave a Comment

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.

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Filed Under: Debt Relief, Uncategorized

IRS uses private debt collectors

August 23, 2006 by Leave a Comment

The AP reports The IRS will use private debt collectors to get back taxes. Isn’t that the job of the federal governement? Anyway we should keep an eye on this so the recovery tactics do not get out of hand.

Internal Revenue Service prepares to implement a new program that sends private debt collection agencies after delinquent taxpayers, critics — including several lawmakers and the employee union at the Treasury Department — are gearing up to protest it.Opponents say that the IRS will pay private debt collectors more to do what government-paid employees could do and that the agency is not doing enough to let the public know about the new program, set to launch in early September.

Associated Press Business News: IRS Moves Ahead on Debt-Collection Plan – MSN Money

 

 

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Filed Under: Collection Harassment

Rapid Rescore

August 22, 2006 by Leave a Comment

Ever wonder how mortgage companies can re-score your account in days to see if you can qualify for a loan? Check out this site below. Very interesting…

What is rapid rescore? Rapid rescore is a way of improving your credit score quickly, by correcting items and then having your credit score “rapidly” corrected. With rapid rescore, things such as charge offs and collections can be corrected. If you pay off a balance on a credit card that can also be taken into account, and can improve your score. Unlike with your typical credit report where changes in your score can take months or even years, rapid rescore makes those changes to your score in days.

Rapid rescore: Increase Your Credit Score Quickly – Associated Content

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Filed Under: credit repair

Credit repair in an hour

August 10, 2006 by Leave a Comment

Sounds super fishy to me!!! Has anyone used these guys? If so let us know…

Preferred Credit Solutions provides personalized credit consulting. They review all three credit reports and identify all negative items (derogs) and errors. After the complete review, they create a 2 page credit analysis and action plan detailing exactly what steps need to be taken to improve the consumer’s credit and raise their credit scores. This is all done over the phone and normally takes one hour. The cost is a one time fee of $179. Preferred Credit Solutions offers an unconditional money back guarantee and will refund all $179 if the consumer is not completely satisfied with the service. After the initial credit consultation, Preferred Credit Solutions will also answer all future credit questions for no additional charge.

mmdnewswire.com – New Service Announces 1 Hour Plan to Improve Credit Scores

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