Sunday, November 05, 2006

Learn The 15 Debt Elimination Steps You Must Take Immediately!

What Everybody Needs To Know...Learn The Truth About Debt Elimination!

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.

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.

Debt Elimination Tips, shows how we've been misled!

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.

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.

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.

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!

Debt elimination tips -- Now let these words soak into your mind and heart: You will have to work...week after week...year after earn FOUR HUNDRED THOUSAND DOLLARS---Just so you can give it to the bank to make them rich!

Debt Elimination Tips, Show's how bad it really is to use credit cards and to make only the minimum payments!

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.

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.

Banks, finance, creditors and credit card companies have encouraged indebtedness.

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!

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!

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)

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!

Are you tired of living paycheck-to-paycheck, month-to- month, making minimum payments, with little hope of ever getting ahead?

Debt elimination tips You Can Start Using Today!

1. Begin eliminating all debts.

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.

3. Pay cash whenever possible.

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.

5. Never fall into the habit of making only minimum payments.

6. Pay the most you can afford.

7. Put money-saving tips into practice, when possible shop at outlet malls, wholesale clubs and take advantage of coupons.

8. Avoid the trap of thinking in monthly payments.

9. Consider the total cost of purchasing goods and services on credit and compare that with cash savings. You'll pay cash every time.

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.

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!

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.

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.

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.

15.Avoid filing for bankruptcy. is run by Vincent Dail. They review and then list some of the best debt elimination, programs, software and books available online!

Sunday, August 27, 2006

Building Credit Ideas

There are several ways that we can build credit. If you are
tired of collectors hounding you, or if you are frustrated that
no one will loan you money because you never had credit, it is
time to learn how to build your credit. First, and foremost
never purchase items you do not need. If you 'want', do not let
your wants wear you down and get you deeper in debt. If you are
searching to build credit and have no history at all, make sure
you have your priorities in order.

Bad Credit Building Credit

If you have, bad credit get a DO-IT-YOURSELF-Kit and gets the
balls rolling. You can go to your public library and get books
that will guide you through the steps of repairing your credit.
Most libraries allow you to copy and print forms that you must
fill out and then send to your credits.

There are systematic guides at your local library that has the
tools for instructor debtors how to write letters to creditors.
Letters are probably better than phoning creditors, since some
creditors could care less about your situation and may threaten
you. Another good reason for writing letters is that (copy in
writing) is more valuable in a courtroom than a conversation on
the phone. If something is said or an agreement is reached and
the creditor later denies his or her claims then you can
present this to any courtroom and they will listen to you
first. Any documents that pertain to your credit history should
be stored in a safe area. If you send letters to your creditors
keep a copy of each letter sent and store it in a safe area. If
you notice any errors on your bills or credit, reports make sure
that you contact the appropriate professionals and dispute the
charges immediately. If you have credit cards and used the card
to purchase an item or use a service and this person sold you a
defected item or else provided bad service, you DO NOT have to
make payment toward the charges. You do however have to dispute
the charges with the services or stores that sold you the
product or service. If the sources refuse to give you an item
usable, or else reimburse you for a service or product you have
the right to deny payment.

Once you have disputed the charges with the sources you will
then contact your card provider and let them know what
occurred. If you are lucky enough to have a credit card with
bad credit, use the card to repay your debts and then meet the
monthly installments on the credit card each month. Ironically,
you are getting out of debt while going in debt deeper. It is a
solution when all else false. In other words, if you use the
card to pay your debts each month and then payoff your credit
cards the following month and then turnaround and uses the card
to pay that month bills..

Now you see where I am going. Credit cards have interest rates
so the bills each month on the card will increase.

No, Credit.No Problem

I do not need a credit line or credit card; I pay all my bills
each month with money. Is this you? Well then, you have the
obvious answer, but what if.

In today's world, we are moving into an era that requires us to
have at least one major credit card. When you phone any business
where you have debts, they will first ask you to pay with a
credit card. If you go apply for a job, apartment, mortgage,
car loan, or any other credit line you most likely will get a
rejection notice in the mail. Most lenders will not give credit
to anyone that has no credit history. The reason is that we are
expected to establish a credit line when we are teens, and if
we do not the lenders are often suspicious. The lenders do not
have an idea and can only base their judgments of you on
assumptions. Can I assume this person will make monthly
payments on time? Has this person taken for granted a loan from
a friend or family member in the past and there are no records
available for me to see if it is true? There are many reasons
that lenders will refuse you a loan if you do not have a credit
history. The best solution is starting up a line of credit now,
pay off your dues on time and avoid making purchases on items
you do not really need. Staying out of debt means regulating
your money each month and paying your bills on time.

About The Author: Son Ngo is the editor at, a community shared "How To" website on
everyday tricks and tips. You can share your expertises and
experiences to the world by submitting your article at the

Wednesday, May 17, 2006

Reducing Your Unsecured Debt

A recent survey showed that more than 2 million people in the
UK had unsecured debt of more than £10,000 (approximately
$16,000). As you can imagine most of this debt is held on Store
and Credit Cards, which are quite often the most expensive form
of unsecured debt an individual can acquire.

How manageable this debt is, is often down to the individual's
circumstances. One thing for sure is that when borrowing you
want to aim to reduce the amount of interest that you pay on
any outstanding debt. Here are a few tips to achieve this.

1. Pay off expensive debt first

Unsecured lending is by far the most expensive borrowing and if
you have a number of cards, some probably charge higher interest
rates than others. If you are not paying off the full balance of
your credit card each month, aim to pay more off the most
expensive cards.

2. Transfer expensive debt to cheaper cards

There's a lot of competition out there. Many credit cards have
introductory offers with either low or zero interest rates.
Transfer your balances from your old card to these new cards.
Remember to close your old credit card accounts to remove
temptation. It is a well known fact that many people don't
close their old accounts and then rack up more debt on both the
old and new accounts.

3. When you've cleared some debt, try not to borrow more

When you've cleared your credit card balances, try to get into
the habit of only spending what you earn. Stop using the cards
and to remove temptation cut them up. It pays to disciplined.
Remember you're trying to reduce debt. The best thing to do is
to create a budget for yourself and pay for everything with

Obviously this isn't an exhaustive list, but if you follow
these tips it will be a positive move in the right direction.

About The Author: Ian Walsh is the webmaster at information on Finance,
Gambling and Self-Help.