How to Get Out of Debt With the Get Out of Debt Guy » credit card help

aviators

Steve Rhode — Tue, 07 Apr 2009 15:37:03 +0000

If you are feeling low and having a bad day, worried and stressed about your debt, then you might find a moment of humor out of reading the experience of the person below that had a worse day than you.

These real stories always make me shake my head and make me appreciate that while things might feel bad right now, they could always be worse.

Steve

“Today, I got back my math test. Instead of taking the time to mark the mistakes, my professor just circled the bottom half of the page and wrote “OMG.” “

Source: aviators

Myvesta Foundation
PO Box 96503 #80622 Washington, DC, 20090-6503 USA
contact@getoutofdebt.org • 815-301-3917

Read the full article at GetOutOfDebt.org, click here: aviators

Therapist: Financial Infidelity Can End Couples

Steve Rhode — Thu, 30 Oct 2008 17:26:36 +0000

From How to Get Out of Debt

This reminded me of my article on Sexually Transmitted Debt (STD). What You Need to Know. that I wrote earlier this year.

While most people know that infidelity in a relationship can cause it to end, one Valley therapist said that financial infidelity can be just as dangerous.

What is financial infidelity? According to family and marriage therapist Donna Wilburn, it is when partners lie or keep secrets from one another when it comes to money. It can be anything from keeping credit card debt a secret to hiding money from a spouse.

“I’d say finances and financial stress is one of the number one things couples argue about,” Wilburn said. “The whole idea of hiding money — of keeping a secret in a relationship — is a sign the relationship is unhealthy.”

In these tough economic times, money is on everyone’s mind and dishonesty when it comes to finances can be a catalyst for failure to any relationship, Wilburn said.

Therapist: Financial Infidelity Can End Couples Fox5 KVVU, NV - 41 minutes ago It can be anything from keeping credit card debt a secret to hiding money from a spouse. "I'd say finances and financial stress is one of the number one …

Click Here for totally free debt help, advice and answers.

Read the rest here: Therapist: Financial Infidelity Can End Couples

In this economy, layaway is in vogue

Steve Rhode — Tue, 28 Oct 2008 02:56:21 +0000

From How to Get Out of Debt

Experts who sounded the death knell for layaway were too quick with the eulogies.

The slumping economy has prodded many merchants for the first time in years to promote this form of installment buying, which dates from the Great Depression. Anecdotal evidence suggests layaway is gaining traction with tapped-out consumers.

Wal-Mart stopped taking layaway orders in 2006, citing an era of easy credit and the headaches of handling the goods. Well, guess what? Consumer credit is getting tighter at a time when rising joblessness, foreclosures and prices make it harder to pay off credit card debt.

“The American consumer didn’t vote to end layaway, only retailers,” said Michael Bilello, vice president of business development for eLayway.com, a three-year-old Tallahassee startup that handles layaway for 1,000 retailers and wants to be the PayPal of a revived industry. “People this year are wising up to their parents’ advice: If you can’t pay in full, try layaway.”

In this economy, layaway is in vogue Tampabay.com, FL - 2 hours ago Consumer credit is getting tighter at a time when rising joblessness, foreclosures and prices make it harder to pay off credit card debt . …

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Source: In this economy, layaway is in vogue

Green-eyed monster bothers ‘Ms. Right’ – Southtown Star

Steve Rhode — Thu, 23 Oct 2008 10:00:43 +0000

From How to Get Out of Debt

Green-eyed monster bothers ‘Ms. Right’ Southtown Star, IL - 4 hours ago Can you foresee whether or not we will be able to get out of debt ?

Click Here for Credit Card Debt Help

Source: Green-eyed monster bothers ‘Ms. Right’ – Southtown Star

Still Stormy? – Fort Worth Weekly

Steve Rhode — Wed, 22 Oct 2008 18:24:00 +0000

From How to Get Out of Debt

Texas Ballet Theater may be down financially, but it isn’t out artistically. Last weekend’s performances of Mozart’s Requiem and Stormy Weather at Bass Performance Hall showed the group to be in better shape than ever. One of the joys of …

Source: Still Stormy? – Fort Worth Weekly

Searching For a Debt Consolidation Loan or Credit Card Counseling Service

Steve Rhode — Tue, 21 Oct 2008 01:19:49 +0000

From How to Get Out of Debt

When faced with credit card debt and suddenly looking for a credit card debt payoff it is not unusual for people to search out solutions they feel might be able to provide debt consolidation for bad credit.

See if this sounds familiar, you wake up, in the middle of the night, worried about your debt problems. You know that the credit card debt is out of control so what is the first solution that jumps into your mind, credit consolidation or credit counseling. It’s a natural knee jerk reaction but is it the right way to get credit card debt reduction?

The Debt Consolidation Credit Card Loan Scam

The reality is that unless you have a good local bank that appreciates your business and a load of equity in your property, you might find it very difficult to find a lender that will actually offer you debt consolidation for credit card debt.

When you are deep in debt that is the least likely time that a lender will want to provid debt elimination help. It’s always when you least need the debt consolidation loan that the lenders are jumping at the chance to consolidate your credit card debt.

Chances are significantly higher that will will be scammed, the target of a scam, or encouraged to pay a fee up from with the promise that if you pay the up-front debt consolidation fee that a loan for debt consolidation for credit cards will be waiting for you. I’m sorry to break the news to you but if it sounds too good to be true, then in the debt consolidation or credit consolidation world, it probably is.

The reason I mentioned the equity situation and helpful local bank is because the exception to the rule is that if you owe little on your home, a local bank may lend money to you for a credit card loan to allow you to consolidate your credit. Local banks these days have more flexibility than the larger banks do to make small loans for local community customers.

The tremendous amount of equity in your property will protect the lender in case you should default. Sadly, there is a chance that even with the credit card debt reduction that you could find yourself right back in the same situation again. I know, I know, you’re promising yourself right now that you won’t. That’s what most people say.

What happens after the debt consolidation loan provides a payoff of your credit card debt is that unless you are vigilant and very self-aware, in about six months the cards that you got the pay off on will find their way out of the drawer and back into the wallet. If that happens you’ll then have a debt consolidation loan for your credit card debt and a whole new crop of fresh credit card debt on top of the credit card consolidation loan. It’s not a good situation.

Other than contacting your local bank you can try this link for a mortgage loan or this one to refinance your mortgage.

The Credit Card Counseling Service Scam

You will hear a lot from companies that will offer some sort of credit counseling service. These companies may claim to offer Christian credit card debt solutions, be a for profit company that charges a fee, or proclaim to be a nonprofit credit counselling service with credit counselors just standing by to help you consolidate your debt. It does not really matter what flavor the credit counselors come in, you need to watch out for the same issue from each.

The non-profit credit counselors and those that say they offer Christian credit counseling often lead people to lower their guard and trust them more. That’s not such a smart thing to do.

Credit counselors who are offering a traditional debt management program don’t actually negotiate with your creditors to put together a repayment plan that best meets your needs. They will tell you the payment the creditor will accept and then ask you if you feel you can afford that amount.

Consumers who enroll in a credit consolidation program often think they will be getting a debt consolidation loan from the counseling service for their credit card debt. That’s not what happens.

The credit card counseling service does not pay off your debt, they simply act as an agency of convenience between you are your creditors. What actually happens in a credit counseling debt consolidation loan program is that you will make one payment each month to the credit counselling service and they will in turn cut it up into smaller payments and send a portion to your creditors.

There is it is, debt consolidation for your credit cards, when in fact your individual accounts remain with each of your credit card companies and the credit card counseling service is just taking your single payment you make each month, cutting it up and sending it off for you.

Credit counseling services often charge a fee for their service these days. The fact that they charge a fee is not necessarily a bad thing as long as you feel you are getting a good service for that money.

Not-for-profit credit counseling services are getting paid by your creditors based on how much money they collect from you. They skim off a “fee” for collecting the debt, send the rest to the creditor and the creditor will credit the entire amount to your account. This hides, from you, the fee the credit counseling group got.

In this way the creditor claims the fee they paid was a tax-deductible contribution, the credit counseling agency is paid a collection fee for service and you feel like you are getting a bargin by not having to pay a fee to the credit counseling agency.

There is no free lunch, remember that, please.

How to Get Out of Debt With the Get Out of Debt Guy » credit card help

aviators

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