How To Pay Off Your Debts Quickly March 20, 2008
Posted by Vedis in : Credit Cards , add a comment
If you’re facing debt, then you need a plan. Until you do something about it, your debt is going to continue to pile up, just on the interest alone. However, with a little ingenuity and some simple disciplines, you can turn your debt around, and have a positive income to debt ratio in no time.
First, before repairing your debt, you have to stop accumulating debt. This means getting rid of those pesky credit cards! Or at least, create a strategy to use them less. One way to do this is to analyze how much debt each month you currently are taking on. Let’s say each month you charge $100 on your credit card, and you only pay $10 of it back. This means you average $90 of debt per month. (more…)
To Get Yourself Out Of Debt: Debt Consolidation, Debt Settlement Or Credit Counselling Service ? February 16, 2008
Posted by Vedis in : Credit Cards , 1 comment so farDebt is very limiting. It limits your earning potential by taking away from the money that you can invest and save. Debt will constantly hang over you. The only way to get away from debt is to pay it off and stop using credit.
Here are a few ways to get yourself out of debt:
1. Make a Debt Payment Plan. Many people avoid making a plan, because it involves adding all of your debt together, and the numbers can be depressing and scary. However, knowing that you are doing something about your debt helps to relieve those fears and the nagging worry that you may be experiencing.
2. Consolidate All Your Debts. A debt consolidation loan could be helpful if you ran up your credit cards while you were in business school, or if you have a number of high interest installment loans such as student loans, car loan, etc. This will allow you to roll this high interest debt into one manageable payment.
When you consolidate your debt, you take out a loan to pay off several other debts. This allows you to consolidate the money you owe into one payment.
If you have an easier time making your payments, you can avoid late fees, extra charges, and the bad credit that will inevitably result when you can’t afford to pay regular bills.
Generally this debt consolidation loan will move unsecured credit card debt into secured debt (a home equity line). So if you fail to make payments, you may be in danger of losing your home.
3. Look For Up Credit Counseling Service. Consider consumer credit counseling which will allow you to enter into a debt management plan with your creditors. There’s a possibility to reduce your monthly payments, but you’ll still be able to pay your balance in full. As long as your payments continue to be made on time each month, consumer credit counseling does not hurt your credit.
4. Consider Debt Settlement. You may have read about debt settlement as an alternative to bankruptcy or a solution to your debt.
Debt settlement reduces your debt by negotiating with your creditors. You give the names of the creditors and the amount you owe. The debt settlement company then gives you an estimate for reducing your debt along with a new, lower monthly payment.
Buy Cheap DVDs: Maxed Out (2005) December 26, 2007
Posted by Vedis in : Buy Cheap DVDs , add a commentHere is a good film about a bad problem. Cheap DVD: Maxed Out (2005)
In this Cheap DVD: Maxed Out (2005), one mother explained in tears that her kid had no job and 12 cards, each one maxed out with $1,000 of debt. Her friend recalls how she and her husband both worked thirty years ago but were denied cards.
Adjustable rate mortgages, minimum monthly payments, zero down loans, no payments for a year, and interest free transfers help explain why the average American has $9,205 of credit card debt and will fork over $1300 a year on interest alone.
The national debt is about $9 trillion and increasing by more than a billion dollars per day. Your family’s share is about $100,000. To make its own minimum monthly payments the government has raided Social Security reserves, until those too vanished in 2005.
Cheap DVD: Maxed Out (2005)
Carnival of Credit Card #9 April 12, 2007
Posted by Vedis in : Personal Development , add a commentI have been showered with tremendous good news these few days.
Firstly, my 5 Simple Debt Reduction Method to Blog Carnival was included in Carnival of Debt Reduction # 82.
Then, my FIRST PPP of Make Money With Ja Kel Daily dot com was accepted.
And now, another post submitted to Blog Carnival was successfully included in Carnival of Credit Card # 9. My post is 5 Signs That You Are in Debt Trouble. This carnival was hosted by Credit Card Lowdown. 12 entries about credit card, debt and personal finance were selected.
More news here !
1. My brother-in-law lent us $5,000 to settle our credit card debts. We offered a 10% interest rate to him as we are paying 18% to banks at the moment. However, he turned down our offer. His condition is simple - return the money to him after one year. We are so glad that we can save the 18% interest on the debts, plus the interest on the interest owed!
Has my brother-in-law’s money been used discreetly ? YES ! We used it to pay off one of the credit cards which carried $2,800. The remaining sum of money was channeled to other credit cards.
2. I got a call from my bank which offers 9.88 % on a $2,000 loan ! Once we get the money, it is for sure that this $2,000 will be used to settle another credit card. Wait for my update.
By the way, my hubby has cut off 5 out of his 6 credit cards. He only keeps one. I am happy that he only keeps one credit card as he loses control whenever he spots a new watch. He is a watch maniac.
As for me, I still keep 3 out of 7 cards.
Our thoughts are absolutely creative. Each thought tends to manifest itself in our lives.Thoughts of riches, achievement, success, provided you do not deny them subsequently, come forth after their kind. You answer your own prayer because it is done unto you as you believe.
