tag:blogger.com,1999:blog-153655822024-03-07T04:39:23.493-05:00Debt Elimination Programs ReviewedThe debt elimination programs, reviews, tips and articles, listed here, will help you to easily and quickly make your new years resolution to get out of debt, A Success!
At <b>Debt Elimination Programs</b>
, we review and then list some of the very best debt elimination, programs, software and books available online!Black5ohhttp://www.blogger.com/profile/16226563674653660749noreply@blogger.comBlogger107125tag:blogger.com,1999:blog-15365582.post-1162771096128701502006-11-05T18:53:00.000-05:002006-11-05T18:58:16.180-05:00Learn The 15 Debt Elimination Steps You Must Take Immediately!What Everybody Needs To Know...Learn The Truth About Debt Elimination! <br /><br />Here`s how we have been taught to charge, charge, charge and promised Easy monthly payments by advertisers who seduce us into debt. So its no accident that the credit, finance and loan companies end up with most of our money, while we end up with all of the bills. <br /><br />Debt Elimination tips shows how Millions of Americans are living on the edge of financial disaster surviving only on the hope of next week's paycheck. The average American is dying under a load of debt, with little or nothing building in the bank or in investments. <br /><br />Debt Elimination Tips, shows how we've been misled! <br /><br />See for the first time how the entire way our economy works, is designed to make you work yourself to exhaustion--simply to accumulate wealth for the companies you do business with--Not For You. <br /><br />The most staggering example of this is a home mortgage. Say you bought a home with a 30-year conventional or adjustable rate mortgage, you will pay for that loan about THREE TIMES. Just multiply out your payment times 360 months and you will see that the total is about 3 times the value of the money you borrowed. <br /><br />Say you buy a $250,000 home, with a $200,000 mortgage; you will end up paying about $600,000 over 30 years. This means that you will pay nearly $400,000 dollars in interest! Just for the privilege of using their $200,000. <br /><br />That means that two-thirds of that total is interest. Interest is the profit the Mortgage Company makes for lending you the money to buy the house. And they feel that you should pay them back THREE TIMES. That's 200% interest! <br /><br />Debt elimination tips -- Now let these words soak into your mind and heart: You will have to work...week after week...year after year...to earn FOUR HUNDRED THOUSAND DOLLARS---Just so you can give it to the bank to make them rich! <br /><br />Debt Elimination Tips, Show's how bad it really is to use credit cards and to make only the minimum payments! <br /><br />Suppose you bought $2,000 worth of furniture on a typical (19.8% interest with a $40 annual fee) credit card, and you paid only the minimum monthly payments requested by the credit card company (here's why they only ask for a minimum payment), it will take you 31 years and 2 months to pay it off. <br /><br />Plus--In addition to the original $2,000 cost of the furniture-- you would have paid $8,202 in interest,(if you make the minimum payments) just for the privilege of using their $2,000! That's five times the furniture's value! Long after you had thrown the furniture out, you would be draining your wealth away paying for it. <br /><br />Banks, finance, creditors and credit card companies have encouraged indebtedness. <br /><br />According to a study by the United States Department of Health and Human Services, 96% of Americans never achieve financial independence. They end up depending on charity, family, government welfare or they're forced to keep working just to survive! <br /><br />Debt Elimination Tips, Why turn your hard-earned money over to the credit card companies? When you don't have too. Follow a proven debt elimination plan! <br /><br />A new survey by the American Bankers Association found that 45% of credit card holders with incomes between $50,000 and $100,000 never pay off their balances. Many others don't even make the minimum payments and fall behind on the interest. (Palm Beach Post, Oct 7, 1998) <br /><br />Debt elimination tips shows how the average American will make over $1,000,000 in his or her working lifetime, and will have as much as 67% to 80% of their money Legally Stolen from them in the form of many different types of federal, state, local taxes and interest on borrowed money! <br /><br />Are you tired of living paycheck-to-paycheck, month-to- month, making minimum payments, with little hope of ever getting ahead? <br /><br />Debt elimination tips You Can Start Using Today! <br /><br /><br />1. Begin eliminating all debts. <br /><br />2. Write down everything you purchase, determining where your money is going is half the battle on your road to becoming debt free and critical to your future financial success. Seeing it in black and white can give you a new perspective. <br /><br />3. Pay cash whenever possible. <br /><br />4. Cut up and cancel all your credit cards, Using a debit card instead of a credit card gives you all the convenience of a credit card but withdraws money immediately from your checking account, so you can not dig yourself back into debt. <br /><br />5. Never fall into the habit of making only minimum payments. <br /><br />6. Pay the most you can afford. <br /><br />7. Put money-saving tips into practice, when possible shop at outlet malls, wholesale clubs and take advantage of coupons. <br /><br />8. Avoid the trap of thinking in monthly payments. <br /><br />9. Consider the total cost of purchasing goods and services on credit and compare that with cash savings. You'll pay cash every time. <br /><br />10. Compare the interest charged on your debts with the interest earned on your savings and investments. You'll find it makes more sense to resolve all debts before beginning a savings or investment program. <br /><br />11. Debt consolidation loans: be very careful your monthly payments will be lower, but you may lose in the long run, because those lower monthly payments will be spread over a longer period of time. If you don't change your spending habits Now, you could easily end up in worst trouble down the road! <br /><br />12. Bargain for a better deal: Don't be afraid to negotiate with your creditors many will be willing to Freeze your interest on your outstanding balances in return for automatic monthly payments. <br /><br />13. Avoid the Quick-Fix companies. Many will charge you a lot of money Up Front, but very few will genuinely help you in the long run. <br /><br />14. Don't promise away your future income by cashing out part of your retirement savings early to pay down your current debt. You will have to pay Current federal and state taxes, Plus an early withdrawal penalty on that money. You are borrowing against your future, just to pay your current debts and to continue Living a lifestyle beyond your means. <br /><br />15.Avoid filing for bankruptcy. <br /><br /><a target="_new" href="http://www.debt-elimination-program-reviews.com/ezinearticles">http://www.debt-elimination-program-reviews.com</a> is run by Vincent Dail. They review and then list some of the best debt elimination, programs, software and books available online!<div class="blogger-post-footer"><TABLE align="center" width="336">
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You can go to your public library and get books<br />that will guide you through the steps of repairing your credit.<br />Most libraries allow you to copy and print forms that you must<br />fill out and then send to your credits. <br /> <br />There are systematic guides at your local library that has the<br />tools for instructor debtors how to write letters to creditors.<br />Letters are probably better than phoning creditors, since some<br />creditors could care less about your situation and may threaten<br />you. Another good reason for writing letters is that (copy in<br />writing) is more valuable in a courtroom than a conversation on<br />the phone. If something is said or an agreement is reached and<br />the creditor later denies his or her claims then you can<br />present this to any courtroom and they will listen to you<br />first. Any documents that pertain to your credit history should<br />be stored in a safe area. If you send letters to your creditors<br />keep a copy of each letter sent and store it in a safe area. If<br />you notice any errors on your bills or credit, reports make sure<br />that you contact the appropriate professionals and dispute the<br />charges immediately. If you have credit cards and used the card<br />to purchase an item or use a service and this person sold you a<br />defected item or else provided bad service, you DO NOT have to<br />make payment toward the charges. You do however have to dispute<br />the charges with the services or stores that sold you the<br />product or service. If the sources refuse to give you an item<br />usable, or else reimburse you for a service or product you have<br />the right to deny payment. <br /> <br />Once you have disputed the charges with the sources you will<br />then contact your card provider and let them know what<br />occurred. If you are lucky enough to have a credit card with<br />bad credit, use the card to repay your debts and then meet the<br />monthly installments on the credit card each month. Ironically,<br />you are getting out of debt while going in debt deeper. It is a<br />solution when all else false. In other words, if you use the<br />card to pay your debts each month and then payoff your credit<br />cards the following month and then turnaround and uses the card<br />to pay that month bills.. <br /> <br />Now you see where I am going. Credit cards have interest rates<br />so the bills each month on the card will increase. <br /> <br />No, Credit.No Problem <br /> <br />I do not need a credit line or credit card; I pay all my bills<br />each month with money. Is this you? Well then, you have the<br />obvious answer, but what if. <br /> <br />In today's world, we are moving into an era that requires us to<br />have at least one major credit card. When you phone any business<br />where you have debts, they will first ask you to pay with a<br />credit card. If you go apply for a job, apartment, mortgage,<br />car loan, or any other credit line you most likely will get a<br />rejection notice in the mail. Most lenders will not give credit<br />to anyone that has no credit history. The reason is that we are<br />expected to establish a credit line when we are teens, and if<br />we do not the lenders are often suspicious. The lenders do not<br />have an idea and can only base their judgments of you on<br />assumptions. Can I assume this person will make monthly<br />payments on time? Has this person taken for granted a loan from<br />a friend or family member in the past and there are no records<br />available for me to see if it is true? There are many reasons<br />that lenders will refuse you a loan if you do not have a credit<br />history. The best solution is starting up a line of credit now,<br />pay off your dues on time and avoid making purchases on items<br />you do not really need. Staying out of debt means regulating<br />your money each month and paying your bills on time.<br /><br /><br />About The Author: Son Ngo is the editor at<br /><a href="http://www.vkhowto.com">http://www.vkhowto.com</a>, a community shared "How To" website on<br />everyday tricks and tips. You can share your expertises and<br />experiences to the world by submitting your article at the<br />website.<div class="blogger-post-footer"><TABLE align="center" width="336">
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UK had unsecured debt of more than £10,000 (approximately<br />
$16,000). As you can imagine most of this debt is held on Store<br />
and Credit Cards, which are quite often the most expensive form<br />
of unsecured debt an individual can acquire. <br />
<br />
How manageable this debt is, is often down to the individual's<br />
circumstances. One thing for sure is that when borrowing you<br />
want to aim to reduce the amount of interest that you pay on<br />
any outstanding debt. Here are a few tips to achieve this. <br />
<br />
1. Pay off expensive debt first <br />
<br />
Unsecured lending is by far the most expensive borrowing and if<br />
you have a number of cards, some probably charge higher interest<br />
rates than others. If you are not paying off the full balance of<br />
your credit card each month, aim to pay more off the most<br />
expensive cards. <br />
<br />
2. Transfer expensive debt to cheaper cards <br />
<br />
There's a lot of competition out there. Many credit cards have<br />
introductory offers with either low or zero interest rates.<br />
Transfer your balances from your old card to these new cards.<br />
Remember to close your old credit card accounts to remove<br />
temptation. It is a well known fact that many people don't<br />
close their old accounts and then rack up more debt on both the<br />
old and new accounts. <br />
<br />
3. When you've cleared some debt, try not to borrow more <br />
<br />
When you've cleared your credit card balances, try to get into<br />
the habit of only spending what you earn. Stop using the cards<br />
and to remove temptation cut them up. It pays to disciplined.<br />
Remember you're trying to reduce debt. The best thing to do is<br />
to create a budget for yourself and pay for everything with<br />
cash. <br />
<br />
Obviously this isn't an exhaustive list, but if you follow<br />
these tips it will be a positive move in the right direction.<br />
<br />
<br />
About The Author: Ian Walsh is the webmaster at information on Finance,<br />
Gambling and Self-Help.<div class="blogger-post-footer"><TABLE align="center" width="336">
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</table></div>Black5ohhttp://www.blogger.com/profile/16226563674653660749noreply@blogger.com0tag:blogger.com,1999:blog-15365582.post-1146001086574428122006-04-25T16:36:00.000-05:002006-04-25T16:38:06.600-05:00What Is A Judgment Lien?A judgment lien is a court ordered lien that is placed against<br />the home or property when the homeowner simply fails to pay a<br />debt. This doesn't seem like a big deal, but when the homeowner<br />has a judgment lien against his or her home and wants to sell<br />it, the judgment lien has to be paid in full before the home or<br />property can be sold. Judgment liens can be placed against the<br />property for a variety of reasons such as unpaid credit card<br />bills, utility bills, department store bills, landscaping or<br />home improvement bills, and just about any bill that the<br />homeowner has failed to pay in a reasonable amount of time. Any<br />bill that can cause one to end up in court can result in a<br />judgment lien. <br /> <br />A judgment lien is different than a trust, in that the judgment<br />lien holder cannot foreclose on the home or the property as<br />trust holder can. Judgment lien holders can demand payment, but<br />ultimately they must wait for the homeowner to sell the property<br />before they can expect to be paid the money that they are owed<br />according to the judgment. Luckily for the judgment lien<br />holder, the court will typically assign an interest rate to<br />these liens so that the lien holder is compensated for their<br />waiting as the interest will continue to accrue until the debt<br />is paid in full. Because the majority of people will live in<br />their home for quite some time, the interest can make a<br />judgment lien grow, and grow, and grow over the years so that<br />it is quite large. Imagine what a lien of just $3,000 would<br />grow to over the years if the interest rate were 15% annually<br />and that would be an even bigger amount if the debt were $5,000<br />or $10,000! <br /> <br />Of course, judgment liens require court action. A creditor will<br />take the homeowner to court where the judge will determine if<br />the homeowner does in fact owe the creditor any money. If the<br />court decides that the creditor is owed the money, and the<br />homeowner will not or cannot make payment, the judge will order<br />that a judgment lien be placed against the property. The<br />judgment lien will then be entered into land records offices<br />for the city or county so that the home cannot be sold without<br />repayment of the debt. Once the lien is filed with the land<br />records office, the judgment lien is said to be attached to the<br />property, meaning that it cannot legally be sold without paying<br />off that lien. If the judgment lien is not listed at the land<br />records office, then it means that the debt or lien is not<br />legally attached to the property and does not need to be paid<br />off to sell the home. <br /> <br />A home or property can have numerous liens against it, which<br />may present a problem when the home is to be sold. Fortunately,<br />the law says that liens will be paid off in the order that they<br />were attached to the property, meaning the first lien will be<br />paid first, the second will be paid second, and so on. This is<br />a law that was basically developed for when a home is<br />foreclosed on. If a foreclosed home is auctioned it will first<br />pay off the first lien, then the second, and the third until<br />there is no money left to pay the debts that are still attached<br />or associated with the home. Of course, all trusts against the<br />house, such as mortgages and home equity loans, would be paid<br />off before the judgment liens, so it's not uncommon for these<br />liens to simply go unpaid because there is no money remaining<br />to pay these debts after the trusts are paid. If there is not<br />enough money to pay for all of the judgment liens and trusts on<br />the home or property, they are then wiped out and can no longer<br />be collected on. Of course, the auction will usually attempt to<br />pay for all of these debts, and they are paid for until there is<br />no money. The reason for this is that the new owner will not be<br />able to get any home equity loans or second mortgages with<br />judgment liens already on the home. If there is money left over<br />after everything is paid off, the remaining amount would go to<br />the foreclosed homeowner as all debts are paid. <br /> <br />You can look for judgment liens at the land records office,<br />though you will typically not find them listed with trusts.<br />Investors or homeowners looking to sell their home will have to<br />look into both trusts and judgments, as they are listed in<br />different areas. Investors can often be caught off guard when<br />they realize how much debt is attached to the home, and sellers<br />are often startled at old judgment liens that they had forgotten<br />about and don't want to afford to pay off in order to sell their<br />home. It's a good idea to go over all of this information before<br />one bids on a home or attempts to sell it or put it on the<br />market. <br /> <br />Judgment liens are not something that anyone wants put against<br />their home, but they are common enough. There comes a time for<br />many people when they simply cannot pay a bill, and a judgment<br />lien is ordered. Making a continued effort to pay down the debt<br />is a great idea so that you don't acquire large interest fees in<br />addition to the initial dollar amount of the lien. The homeowner<br />does not have to wait until the home is sold to pay off the<br />lien, instead they can be paid off as soon as possible. The<br />judgment lien is simply put in place so that the home cannot be<br />sold without the debt being paid, and when you look at it from<br />the creditors point of view, this is a great tool to ensure<br />that you'll eventually be paid the amount you are owed in<br />addition to an interest fee that will pay you for waiting.<br /><br /><br />About The Author: Visit http://<a href="http://www.theforeclosuresinfo.com">www.theforeclosuresinfo.com</a> and<br />http://www.stateof-california.com<br /><br />Please use the HTML version of this article at:<br />http://www.isnare.com/html.php?aid=46104<div class="blogger-post-footer"><TABLE align="center" width="336">
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Unfortunately, so is<br />getting into debt or financial trouble. <br /> <br />But just because you've had some money problems does NOT mean<br />you can't get a mortgage and buy a house. There are all kinds<br />of loans: <br /> <br />. loans for first time homebuyers <br />. loans for people with bad credit <br />. loans for people with perfect credit <br />. and loans for people without a lot of money for a down<br />payment <br /> <br />So, most people can get a loan these days. The question is, HOW<br />MUCH will you pay in the long run for higher fees and interest<br />rates? <br /> <br />A lot of people think that if something bad goes on your credit<br />report, that it must stay there for 7 years, or longer. But<br />that's not always true. Credit repair can work, if you know how<br />to do it. <br /> <br />And, you can do it yourself. <br /> <br />For example, I had lots of debt (from a business idea that did<br />not work) and got a lot of bad credit listings while getting<br />myself out of debt. <br /> <br />And within 6 months of paying off my last credit card bill<br />(remember, even if you have some debt you might still be able<br />to get a house loan) I repaired my credit to the point that I<br />got both a car loan and a mortgage. More importantly, I got the<br />LOWEST POSSIBLE interest rates, which over the life of a 30-year<br />loan could save me tens of thousands of dollars! <br /> <br />How did I repair my credit? <br /> <br />I got a copy of all my credit reports, and kept writing letters<br />asking the credit bureaus to remove the bad credit. <br /> <br />So it CAN be done. (And I had some pretty bad stuff on my<br />credit reports.) The worst that can happen is that the credit<br />bureaus can say "no" to your request. The best that can happen<br />is that your credit score will improve, and you'll pay a lower<br />interest rate, get a bigger mortgage, or both! <br /> <br />So, how do you clean up your credit report? <br /> <br />The first step is to get a copy of your credit report from the<br />3 credit bureaus, listed below. You might have to pay a few<br />dollars, but it is well worth it. If you moved, changed jobs,<br />and had any other personal info change recently, you can send<br />it to the credit bureaus, and request a free copy. <br /> <br />NOTE: You are now entitled to one free credit report each year<br />from http://www.annualcreditreport.com. <br /> <br />The next step is to circle or highlight the bad credit items,<br />and write a letter to each credit bureau asking them to remove<br />the item. If you have a lot, focus on one or two at a time. <br /> <br />Then, wait a month or two, and ask for another one or two items<br />to be removed. <br /> <br />It might take a few tries. <br /> <br />But if you keep trying, eventually most (or all) of the items<br />will be removed. <br /> <br />In the worst case - even if you only get a few removed - it<br />might still improve your credit score, reduce your interest<br />rate, and lower your monthtly payment! <br /> <br />So don't give up. <br /> <br />It might take a little time to repair your credit - especially<br />if you've had quite a few money problems. But every little bit<br />helps your credit score, your interest rate, and the amount of<br />money you can get. <br /> <br />Then Pay Off As Much Debt As Possible <br /> <br />I know, when preparing to buy your new home money is real<br />tight. But if you have any extra money - any at all - try to<br />pay off as much debt as possible. This will help you: <br /> <br />. Be more likely to be approved for a mortgage <br />. Be able to borrow more money <br />. Have one (or more) less bill to worry about once you start<br />having to pay a mortgage every month. <br /> <br />If you can't pay off your debt, you might want to consider<br />waiting before buying your new home. Or, look into a debt<br />reduction program that can help you get out of debt faster. <br /> <br />There are no rules that say you can't have some debt and still<br />buy a house! <br /> <br />But think very carefully about your financial situation. And<br />TRY to pay off as much debt as possible before buying a house.<br />There is enough to worry about as a new homeowner, without<br />having to worry about paying your credit card bills. <br /> <br />At the very least, if you do have any debt, MAKE SURE you can<br />comfortably afford to pay your credit card bills as well as<br />your mortgage, before getting started!<br /><br /><br />About The Author: Kris Bickell is the owner of<br />HouseBuying-Tips.com, a site that helps first time home buyers<br />avoid the costly mistakes that many new homebuyers make. For<br />more tips on buying a house, getting a mortgage, finding a<br />realtor, and getting out of debt, sign up for the free "How To<br />Avoid These 10 Costly Mistakes When Buying Your First Home"<br />email course at: http://<a href="http://www.HouseBuying-Tips.com/course.html">www.HouseBuying-Tips.com/course.html</a>. ©<br />2005 HouseBuying-Tips.com<div class="blogger-post-footer"><TABLE align="center" width="336">
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</table></div>Black5ohhttp://www.blogger.com/profile/16226563674653660749noreply@blogger.com1tag:blogger.com,1999:blog-15365582.post-1132834465566398102005-11-24T07:08:00.000-05:002005-11-24T07:18:47.036-05:00Repairing Your CreditWe live in a consumer society where it seems like more<br />attention is paid to your credit record than to your criminal<br />background. Credit has been elevated to a position where it<br />permeates every factor of a person's life and has even crossed<br />over into the realm of being a moral question. Have you ever<br />been made to feel guilty or embarrassed because you can't get a<br />loan? What about having your credit card rejected at a<br />restaurant or department store? It's not just that you don't<br />have money readily available, it's that you suddenly become a<br />pariah in the eyes of some cashier. And, of course, to everyone<br />that is standing around within hearing distance.<br /><br />Nearly everyone has been in one of these situations one time or<br />another. And, it begins to weigh heavily on your psyche. Don't<br />despair! Having bad credit does not mean you are a disreputable<br />person AND there are very few credit situations that are beyond<br />repair. You just have to know what steps to take and what order<br />to take them in. If you are careful, payday loans can be an<br />excellent means of reestablishing your credit.<br /><br />There are several ways you can go about clearing up your credit<br />situation.<br /><br />Payday Loans<br /><br />A payday loan may be able to help you re-establish your credit.<br />The way it works is like this. Get the best loan deal available,<br />with the least fees. Make it small, say for $100. If you can<br />find a lender who only charges $10 per hundred, you will owe<br />$110 on your next payday. Even if you have to pay a $25 charge<br />for the $100 borrowed, the total payment is still only $125.<br />Pay it off on the due date, in full. Do not be tempted to roll<br />the loan over because it will just cost additional fees. Don't<br />borrow unless you know you will be able to pay back the full<br />amount on the date due and do not borrow from multiple lenders.<br />Repeat this process several times to build a good reputation<br />with the company. Payday transactions are ones that may or may<br />not be reported to credit agencies, but you can generally add<br />good reports to your own credit profile. It may cost $2-$3 per<br />lender and you must ask the lender before proceeding.<br /><br />Credit Cards<br /><br />According to the Credit Repair Institute, a Visa or MasterCard<br />are the best credit references you can establish.<br /><br />At first glance, this may not seem like a great solution<br />because you are thinking that you probably can't possibly get a<br />credit card. However, there are banks and other lenders out<br />there who will issue limited value credit cards to people with<br />bad credit, on a couple of conditions. First, you will probably<br />have to pay a fee to get the card in the first place. Then, it<br />will probably be limited to a small amount, say $200. Pay the<br />fee, get the card (making sure that it doesn't charge huge<br />interest) and use it very, very wisely. In other words, go make<br />a small purchase on the card instead of paying cash for<br />something that you already intend to buy and have money for.<br />Then, use the cash you already had set aside to pay the credit<br />bill, before the due date, so there are no additional interest<br />fees. Repeat the same process several times, over several<br />months. Always make sure you are not buying something extra<br />that you may not have money to pay for, just use the card to<br />establish good credit.<br /><br />Other banks issue secured credit cards for which you deposit a<br />particular amount, for example $200. Make the deposit, get the<br />card, and then make several small charges on it - again ones<br />that you know for certain you can pay back in full before the<br />due date so that you don't accrue any extra interest fees. Shop<br />around for the card and make sure you get the best deal<br />available in terms of annual fees, annual percentage rates,<br />grace periods and any surcharges that may be attached. Secured<br />cards are nearly as good a means of bolstering credit as<br />unsecured ones.<br /><br />Get a Loan<br /><br />That sounds like crazy advice, but if handled the right way, it<br />can quickly rebuild your credit. According to the Credit Repair<br />Institute, this is a fast and reliable method, and can be done<br />with as little as $400. It involves opening a savings account<br />at a local bank with about $400. After the account is<br />established, ask the bank for a loan and tell them you want to<br />secure it with the savings account. They are likely to grant<br />you at least 70% of the money you have in savings and, in some<br />cases, up to 100%.<br /><br />Take the money from the loan and deposit in a savings account<br />at a second bank, get a loan against that and deposit that in a<br />third bank. The money borrowed from the last bank can help pay<br />the first few payments on the others. Make certain that you<br />make payments on time and as agreed. Also make certain that the<br />banks report your payment history to the three major credit<br />bureaus, monthly.<br /><br />According to the Credit Repair Institute, this is the quickest<br />way to rebuild credit quickly. In the meantime you will be<br />paying for it by paying interest, but the good news is that the<br />interest earned on the funds deposited in savings will partially<br />offset the interest payments you will be making back to the<br />bank.<br /><br /><br />About The Author: Max Hunter is the author of many credit<br />related articles. If you are looking for help with Payday loan<br />or any type of faxless loans please visit us at<br /><a href="http://www.paydayloanchoice.com/">http://www.PaydayLoanChoice.com </a><br /><br />=========================================<br /><br />For More Infomation Visit: <a href="http://www.credit-repair-specialist.com">Credit Repair<br />Specialist</a> For The Very Latest Reviews, Articles And<br />Tips On Complete Debt Elimination amd Credit Repair On Any<br />Income!<div class="blogger-post-footer"><TABLE align="center" width="336">
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You<br />will be required to file a list of all of your outstanding<br />debts and a complete list of your <br />assets. This is done with the help of your lawyer thru the<br />Federal Courts. <br /> <br />To make this process easier to understand, your "Assets" fall<br />into two categories. <br /> <br />They are: Exempt and Non-Exempt <br /> <br />Exempt assets are the property or belongings that you do NOT<br />have to use to pay off the debts you have incurred. <br /> <br />In other words, exempt assets are off the table, (not in play)<br />and may not be touched by your creditors. <br />In most instances this includes a certain amount of equity in<br />your home, and some of the equity in a vehicle. For the most<br />part, your clothing, and other personal items are deemed<br />exempt. This does not include the expensive jewelry, furs and<br />the big boys toys. <br /> <br />Next, you will be assigned a "trustee" by the Federal<br />Bankruptcy Court to administer the payment of your debts. <br /> <br />Your debts also fall into two categories. <br />They are: Secured debts and Unsecured debts. <br /> <br />A Secured debt is one in which the creditor retains a "security<br />interest." Most often it is the same property that was purchased<br />with the credit that creditor extended. <br />Secured debts occupy the first position. This means they enjoy<br />priority over non-secured debts, and must be satisfied first. <br /> <br />If you are unable to pay off secured debts, the creditor has<br />the option to repossess that property and sell it. If there is<br />any "short fall", that remaining debt is now considered<br />unsecured. It doesn't go away, it has only changed from secured<br />to unsecured. <br /> <br />Once you have filed for protection, the court will issue an<br />"automatic stay". This stops your creditors in their tracks.<br />They may not take additional action against you beyond the<br />bankruptcy. <br /> <br />This allows you to avert impending repossessions and<br />foreclosures. <br /> <br />Chapter 7 <br /> <br />In Chapter 7 Bankruptcy you are in fact liquidating your<br />assets. This means that you are only permitted to keep "exempt"<br />property. The remaining non-exempt property will be sold to the<br />highest bidder. The proceeds of the sale are applied to the<br />outstanding debt. The shortfall or amount left unpaid by the<br />sale is then discharged. <br /> <br />In Chapter 7 Bankruptcy there are a few debts that are not<br />dischargeable. They include taxes, back child support, DWI<br />fines and student loans. <br /> <br />Chapter 13 <br /> <br />In Chapter 13 Bankruptcy you are trying to regroup, recoup and<br />get back on track. It is commonly known as the "reorganization<br />bankruptcy for individuals." <br /> <br />Individuals who want to pay off their debt over a period of<br />three to five years file Chapter 13 bankruptcy. <br /> <br />Chapter 11 <br /> <br />Chapter 11 Bankruptcy is commonly used as the reorganization<br />tool for businesses. This kind of bankruptcy is attractive if<br />you own "non-exempt" property that you want to protect. <br />Chapter 11 will also help you to catch up on bills that have<br />fallen into arrears. It effectively blocks an impending<br />repossession or foreclosure. <br /> <br />Not everyone is eligible for a Chapter 13 bankruptcy. You must<br />have a reliable source of income that is sufficient to pay your<br />reasonable everyday expenses and still have an amount of<br />positive cash flow with which you begin paying off past due<br />bills. <br /> <br />If you file a Chapter 13 you are required to submit a plan to<br />repay your debts that includes a set timeframe and set amounts<br />to be repaid. Upon approval of the bankruptcy court, both<br />parties (debtors & creditors) are obliged to accept the terms<br />of the order <br /> <br />What To Do Now <br /> <br />Choosing your bankruptcy lawyer is an important decision. <br /> <br />This beginning process allows you to evaluate and determine<br />your best course of action. This discussion is also your<br />opportunity to satisfy yourself that the Jersey Justice<br />sponsoring attorney's fees are reasonable for your type of<br />case. <br /> <br />Am I Making The Right Decision? <br /> <br />In all likelihood you are stressed and feeling the pressure to<br />seek professional help with your finances. <br />Your decision to look for an experienced bankruptcy attorney<br />may be the best financial decision you have made in a long<br />time. <br /> <br />Even taking the beginning steps to consult with an attorney<br />takes enormous courage. You may even be thinking about<br />struggling through all the mess on your own. That could be a<br />very lonely path. <br /> <br />Before you make the decision to go it alone, ask yourself a few<br />questions. If two or more of these are you, then it could be the<br />perfect time to seek the services of a bankruptcy professional. <br /> <br />Are You: <br /> <br />receiving harassing or threatening phone calls from people you<br />owe? <br /> <br />paying the minimum payment possible on your credit cards? <br /> <br />taking out Payday Loans? (which by the way are illegal in NJ) <br /> <br />begging for loans from friends and family? <br /> <br />about to lose your job? <br /> <br />behind in your taxes? <br /> <br />receiving foreclosure notices? <br /> <br />behind in child support or alimony? <br /> <br />gambling to try and make ends meet? <br /> <br />sick and unable to even go to work? <br /> <br />If your answers indicate that you are in financial deep water,<br />bankruptcy may be your best solution, but you will never know<br />for sure until you get the advice of an attorney. <br /> <br />How Will Bankruptcy Effect My Life? Your Bankruptcy Attorney<br />will be able to explain some other very important<br />considerations. <br /> <br />What happens after bankruptcy? <br /> <br />What will my life be like? <br /> <br />Will I ever be able to get credit again? <br /> <br />How do I live within a budget? <br /> <br />How do I start all over? <br /> <br />How do I rebuild my credit? <br /> <br />If these nagging questions are on your mind, then a bankruptcy<br />attorney is right for you. <br /> <br />It is true. A bankruptcy can be a persistent source of<br />blemishes on your credit report for up to 10 years. <br />The good news is you are able to start re-establishing your<br />credit the moment your case is closed. <br /> <br />How good is your present report? It is probably already<br />suffering the consequences of late payments, delinquencies and<br />every other known credit report disorder. <br /> <br />Think about this. Your credit score could actually improve due<br />to the elimination of most of your debt. Lenders actually<br />believe that you are a better credit risk now since they know<br />that you may not file bankruptcy again for another six years. <br /> <br />At about 18 months to 24 months into your bankruptcy you will<br />even be able to qualify for a new home loan if you are able to<br />come up with a minimum down payment backed up with proof of<br />income that supports the debt service. <br /> <br />Auto loans are available to individuals upon discharge of your<br />existing debt. And believe it or not you will start receiving<br />offers for credit almost immediately. But "caution" is the<br />watchword at this critical point in time. <br /> <br />The offers of credit could have been what got you into trouble<br />in the first place.<br /><br /><br />About The Author: Tony Merlino is webmaster and legal marketing<br />consultant at <a href="http://www.JerseyJustice.com">http://www.JerseyJustice.com</a> ,a legal information<br />and marketing portal for clients and their lawyers in New<br />Jersey.<div class="blogger-post-footer"><TABLE align="center" width="336">
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</table></div>Black5ohhttp://www.blogger.com/profile/16226563674653660749noreply@blogger.com0tag:blogger.com,1999:blog-15365582.post-1132368503995780272005-11-18T21:47:00.000-05:002005-11-18T21:48:24.253-05:00Building Credit IdeasThere are several ways that we can build credit. If you are<br />tired of collectors hounding you, or if you are frustrated that<br />no one will loan you money because you never had credit, it is<br />time to learn how to build your credit. First, and foremost<br />never purchase items you do not need. If you 'want', do not let<br />your wants wear you down and get you deeper in debt. If you are<br />searching to build credit and have no history at all, make sure<br />you have your priorities in order. <br /> <br />Bad Credit Building Credit <br /> <br />If you have, bad credit get a DO-IT-YOURSELF-Kit and gets the<br />balls rolling. You can go to your public library and get books<br />that will guide you through the steps of repairing your credit.<br />Most libraries allow you to copy and print forms that you must<br />fill out and then send to your credits. <br /> <br />There are systematic guides at your local library that has the<br />tools for instructor debtors how to write letters to creditors.<br />Letters are probably better than phoning creditors, since some<br />creditors could care less about your situation and may threaten<br />you. Another good reason for writing letters is that (copy in<br />writing) is more valuable in a courtroom than a conversation on<br />the phone. If something is said or an agreement is reached and<br />the creditor later denies his or her claims then you can<br />present this to any courtroom and they will listen to you<br />first. Any documents that pertain to your credit history should<br />be stored in a safe area. If you send letters to your creditors<br />keep a copy of each letter sent and store it in a safe area. If<br />you notice any errors on your bills or credit, reports make sure<br />that you contact the appropriate professionals and dispute the<br />charges immediately. If you have credit cards and used the card<br />to purchase an item or use a service and this person sold you a<br />defected item or else provided bad service, you DO NOT have to<br />make payment toward the charges. You do however have to dispute<br />the charges with the services or stores that sold you the<br />product or service. If the sources refuse to give you an item<br />usable, or else reimburse you for a service or product you have<br />the right to deny payment. <br /> <br />Once you have disputed the charges with the sources you will<br />then contact your card provider and let them know what<br />occurred. If you are lucky enough to have a credit card with<br />bad credit, use the card to repay your debts and then meet the<br />monthly installments on the credit card each month. Ironically,<br />you are getting out of debt while going in debt deeper. It is a<br />solution when all else false. In other words, if you use the<br />card to pay your debts each month and then payoff your credit<br />cards the following month and then turnaround and uses the card<br />to pay that month bills.. <br /> <br />Now you see where I am going. Credit cards have interest rates<br />so the bills each month on the card will increase. <br /> <br />No, Credit.No Problem <br /> <br />I do not need a credit line or credit card; I pay all my bills<br />each month with money. Is this you? Well then, you have the<br />obvious answer, but what if. <br /> <br />In today's world, we are moving into an era that requires us to<br />have at least one major credit card. When you phone any business<br />where you have debts, they will first ask you to pay with a<br />credit card. If you go apply for a job, apartment, mortgage,<br />car loan, or any other credit line you most likely will get a<br />rejection notice in the mail. Most lenders will not give credit<br />to anyone that has no credit history. The reason is that we are<br />expected to establish a credit line when we are teens, and if<br />we do not the lenders are often suspicious. The lenders do not<br />have an idea and can only base their judgments of you on<br />assumptions. Can I assume this person will make monthly<br />payments on time? Has this person taken for granted a loan from<br />a friend or family member in the past and there are no records<br />available for me to see if it is true? There are many reasons<br />that lenders will refuse you a loan if you do not have a credit<br />history. The best solution is starting up a line of credit now,<br />pay off your dues on time and avoid making purchases on items<br />you do not really need. Staying out of debt means regulating<br />your money each month and paying your bills on time.<br /><br /><br />About The Author: Son Ngo is the editor at<br /><a href="http://www.vkhowto.com">http://www.vkhowto.com</a>, a community shared "How To" website on<br />everyday tricks and tips. You can share your expertises and<br />experiences to the world by submitting your article at the<br />website.<div class="blogger-post-footer"><TABLE align="center" width="336">
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</table></div>Black5ohhttp://www.blogger.com/profile/16226563674653660749noreply@blogger.com0