Newsalert That May Help Boost Your Financial Well-Being
From time to time we will report on news that could help solve financial problems. We scoured the net for such news and posted comments on those that may impact you. Those comments are here for you for easy access. Try to click on the link that will take you to the full story as soon as possible before the news provider deletes it. At any rate, if it should happen, the comment may still help you.
Got Debt? 5 Steps to Get out of Debt Faster
Those are good steps to follow to get rid of debt, no matter what size it is. We have seen them before but this author makes it sound simple and easier to follow. So I hope those on debt who truly want to become debt-free will follow these steps. To make sure this article gets the exposure it deserves, I will tweet it and put it on Facebook.
I believe the officials in Washington are working hard to put people back to work but everyone should try to help instead of trying to find out what's in it for them in the programs the government has set up for purposes of job creation. The author is right to say though that this is the worst of times since the great depression.
This is a sad story of the disappearing middle class. It is no wonder people are protesting during the G20 Summit. We do not have to be caught in this race. What we can do is refuse to get into the temptation to keep up with the next door neighbor and just live within our means.
This is an excellent article that anyone contemplating on hiring a debt settlement company should read and digest first to avoid joining any disreputable scheme. Otherwise, one could end up in worse shape than before. They should heed the advice the author recommended as it is the proper route to take when trying to solve one's debt dilemma.
This is an excellent article on the smart ways to consolidate one's credit card debt since it is after learning the lesson from the experience that led to the need for the consolidation. This is indeed a smart way to go about solving the debt problem for without learning the lesson, the debtor will just be caught in the chain of events that will just keep on repeating at the risk of jeopardizing one's health and the chance for peace and happiness.
This is something; the debt collector has found a way to collect the debt and that's with the help of the police and the justice system. Now they can put you in jail for uncollected debt where you will be asked to sign a form to disclose your financial data. They can then garnish your pay check for the amount you owe.
I find this post so important that I will tweet it and share it at Facebook. Too many people have been scammed that they need information such as explained in this article in order to help them find out which is legitimate and which is not. I therefore thank the author for this insightful article.
Debt Default: It Can Happen Here
Debt default is scary stuff despite arguments in favor like those of John Tamny which are pretty reasonable but where will this lead us? I say this probably will not happen because if I understand it right, we can always print some money (with dire consequences of course) unlike Greece who couldn't do it because of the euro thing.
Well, I will leave this problem to the experts like the author of this excellent article who should be on President Obama's cabinet especially so he won't try to solve this problem just to score political points.
This is quite an inspiring story. It just goes to show that persistence and determination can save the day and pay off that $70,000 debt. Readers who are in debt should study how this family did it for it can happen to them too. Being debt-free is a goal worth working hard for.
'Borrowing to Live' Weighs on Families, Firms, Nation
A debt hangover indeed and it's scary. Really, the solution is to live within our means. What money we don't have, we should not spend. Let's live the way our forefathers did. Mind you they had the great depression that taught them to do that. Still I like that this article didn't just focus on the scary stuff because it mentioned how people lowered their debt burden and started saving.
Dave Ramsay is awesome; he is truly a great help for debtors all over the place. However, I would like to point out that there are two schools of thought when it comes to paying off the debt.
The difference between what Dave Ramsay advocates and the other opinion is that it is better to start paying off the debt that incurs the most interest. I understand that starting to pay off the least amount has the psychological advantage but we cannot ignore the savings in the interest that the second opinion recommends.
Those 5 ways to crush the credit card will surely lead to the land of debt-free living. If only all of us had the discipline and determination to follow the trail Kerry Taylor so kindly shared with us, then we would surely be debt-free. But I guess if we focused on the goal, it might just work. This is such an important help for all the credit card debt holders out there, I am going to tweet it and put it in facebook.
Thank you for these early signs so people will be aware of the looming problem they are going to face unless they nip it in the bud during the early stages. These will be very helpful indeed unless those concerned will turn deaf ears to these alerts.
3 Reasons To Avoid Using A Debt Settlement Company
There you are: Another credible article against using the debt settlement companies. This time there's advice from experts on why consumers should avoid using them because there is nothing they can do that the consumers cannot do themselves.
I commend Dean Baker for his excellent article. However there is something I did not get here. He said that the deficit hawk gang gives misleading and false information but isn't it true that the health care system is broken? US spends more than any other country on health yet not all are insured, at least before the health reform was passed.
There are vehement arguments regarding the federal debt and the closing gap between it and the GDP by 2012 but we should not be too pessimistic to voice such misgivings for we have to expect turbulence. We did not arrive at these problems overnight so let us at least give it that length of time for the economy to recover.
Not All Debt Settlement Firms Are Scammers
I am glad to read that some settlement companies are not scammers for they are really getting a bad rap. However, I will keep Sherry's recommendation to deal with a nonprofit credit counselor instead because of the bad apples in this business. I feel for those who do legitimate debt settlement business though.
Don't be Fooled: 'Law' Easing Debt Settlement Phony
I thank the author Liz Pulliam Weston for her insightful replies to the questions that have been worrying the credit card holders and debtors. Her answers certainly cleared up confusion and will enable these consumers to find solution to their challenges.
Those are all good recommendations from the Debt Diva except I have a concern about the one that pertains to Business Bureau because I used this in the past and didn't work as well. It is not BBB's fault but rather if the company one is checking does not have an issue with them, then it looks like clear sailing for the company in question even if it is engaging in something questionable but is not on record yet. So I am glad that the author said the service should have an A+ or A rating for then any firm without a rating would mean it has not been checked yet.
Cutting back on luxuries for a time to free up some money to go towards trying to pay off the debts is one good advice. There really is no need to pay monthly for a gym membership when one is paying high interest on the credit card debt. Exercising right in the comfort of your own home is a much better alternative anyway.
The situation is really bad for some. With the debt still unpaid and the unemployment still high, it is no wonder that some are under so much stress. At least the household debt is falling and people are saving more, proof positive that we have learned a lesson or two from the recession.
I love squawkfox period. I learn a lot of things from their posts. And now here it is again doing something fantastic for its readers, offering them six free budget software choices. I will try one of them to see how it works for me. I have Quicken but I like to know if any of the free softwares will do better than what I have now. Thank you so much for this.
I can understand how deeply people feel about their debt and getting stressed over it. It is good to know though that generally, the debt is coming down and people are saving more. So the lesson from the recession has been learned and is being put into practice.
Debt Relief: What Are the Alternatives to Bankruptcy?
It is good to know the alternatives to bankruptcy so people who are contemplating on this issue will have their eyes open to all the possibilities. If the alternatives will not offer the necessary solution, then it is best to file for bankruptcy but get good advice on this. You may need a lawyer to show you the options and to avoid making a bad decision. Make sure you know the fees involved and that the cases are not handled by the secretary or paralegal.
This is outrageous, doing this to a man who is fighting for our freedom. Texas homeowners' associations should be stripped of this power to foreclose on anyone without talking to the people involved in person. To think that the ones who did this are neighbors of this soldier is shameful especially they foreclosed it because of the $800 debt and then sold the house for $3500. I wonder if they sold it to their friends or themselves.
Tips on Budgeting – Good and Bad Debt
This article is an excellent one. If people will read it and act on the tips, their financial health will be in a much better place. There is always a solution to any problem as long as we work on it. Getting into debt may not be one's fault but not acting on solving the problem is.
Yes, we are not out of the woods yet. We were gaining for a while but the Greek tragedy stalled us again. I don't think it will ruin us in the long run as seen by the stock market regaining back the 5% of the 7% it lost. It is just that we have to deal with constant rise and fall of our portfolio. I feel for those who rely on this income to survive. I am just thankful that what I have in my portfolio is like play money.
It is really scary what is happening out there. Didn't the economists and other experts see this scenario coming? If so, why didn't they warn these countries the danger of the insurmountable debt they are accumulating? These countries must know that sooner than later, they will have to pay off the debt they are incurring.
I like the parallel the author made between debt and baking. I am not a baker but how true is it that yeast is needed for the bread to rise and in this case if the debt cannot be repaid, then we all know what happens. This article also made it clearer in my mind the difference between the public debt and the external debt with the US not in the list of 12 on the public debt but placed third on the external debt.
The National Debt and National Security
Bruce Bartlett fully explained how the defense budget cut will affect our national security concerns. With all the spending going around, it is inevitable that this will be done especially the US spends the most money to keep the world peace, more than any of its allies.
This is an excellent post with the pros and cons among Chapter 7, Chapter 13 bankruptcy, and debt settlement fully explained. It will be worthwhile for anyone in this predicament to read and understand this post before taking action because though bankruptcy and debt settlement leave one's credit record in some kind of mess, there are times when one is better than the other.
This is just another way of approaching the debt challenges. Why worry about them when you can get a consolidation loan and finally getting out of debt? But this is oversimplifying the problem. Really there's more to it than that. True, one should not worry about it but certainly face the music and do something about the debt.
Credit Card Debt Shrinks as Consumers Still Reel From Shaky Economy
It is not a surprise that the credit card debt is shrinking. The gloomy economic news and the high unemployment rate contribute to the shrinking of the credit card debt. And of course there are also the banks that are understandably more cautious in lending money.
The two-pronged strategy the author explained is quite a helpful way in dealing with spousal financial infidelity. When this financial mess appears on your doorstep, it is good to know what one can do to face this challenge. I think prevention is also key in avoiding the financial mess. It is good for both to deal with the financial matters anyway.
I am glad to have found this because it was an "aha moment" for me. Don't get me wrong for I knew all along that having all those tax cuts just benefits the rich and is contributing to the slowly disappearing middle class but then some people think otherwise just because they get a little bit of money out of the tax cuts, forgetting the big picture altogether. The aha moment for me was in the comment about Greenspan behind this too.