Get Rid of that Debt ? Your Path to Financial Freedom
Millions of people in this country are stretched beyond their means, with multiple credit cards, 2nd mortgages, high fuel costs, etc. The stress involved has truly taken a toll on people when you see all the ads for anti-depressants, credit counselors, and bankruptcy attorneys. It is overwhelming to say the least.
Is there a way for the normal American to get out of this black hole of debt that we have dug for ourselves? Of course there is. But it will take some organization, focus, and a little bit of time. Follow along for helpful hints to get yourself out of debt.
1. Mortgages ? Shop around for a lower interest rate.
You can go online, or check with your local bank to see if perhaps your interest rate it too high and could be lower, possibly saving you thousands long term. Some people may realize that their home is too large now (empty nesters), and perhaps selling and going smaller could help to ease the pain of that monthly mortgage payment.
2. Credit Cards ? Just like mortgages, shop around for cards with the lowest interest rate available. Check to see if you can transfer one card's balance to the newer/lower interest card without paying any additional fees. A lot of new cards out there have a grace period of one year with 0% interest on transfers. If you can do this so that you are down to one card only, the amount you pay in the long term is MUCH lower than had you paid the 5 cards with 25% interest.
3. Taxes ? Make sure that you use those deductibles ? the interest on your mortgage payments, kids in school/daycare, any home office items, and church offering statements. It pays to keep your receipts year round. Should you get a refund from either the State/Federal Govt, take that money and either pay down your mortgage, or pay OFF those credit cards. Do not look at that refund money as an excuse to go shopping, no matter how tempting that may be.
4. Look at your cars/car payments. Are you driving a car that really isn't necessary? Do you have a truck that you don't use at all for hauling items, but only for driving? See about trading it in for an older model car, and take any additional money from the trade and put that towards your credit cards/mortgage payment.
5. Phone/Internet Bills ? With broadband phone service so widely available in most areas these days, it may be wise for you to see if your cable provider can add a broadband line to your bill, and cut out the monthly phone bill/long distance bill that you are paying now.
Most times you can save yourself between $30 and $60 a month.
6. Consolidation ? If you still have bills that don't seem to be dwindling or there are so many that it is hard to keep track of paying them every month, consider consolidating them into one monthly bill. There are dozens of firms out there who can help you with this process. Some can often contact the creditor for you and negotiate a fixed amount/no interest.
You can make a dent in your debt and still have money left for your personal enjoyment. Don't give up; just focus on what you need to get down, get organized, and slowly the debt will diminish.
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What is a Bank Foreclosure?
Bank foreclosure is a legal action where a property owner loses all rights to the property.
In simplest terms, the lender, usually a bank or mortgage company, files a lawsuit asking that the owner's rights be taken away.
Lenders use bank foreclosure to recover their money when the owner defaults, or fails to make payments, on the mortgage.
This is true both for mortgages used to purchase a home and loans in which the home was used for collateral.
There are two basic types of bank foreclosure: strict foreclosure and foreclosure by sale.
In a strict foreclosure, the judge will set what is called a law date.
Unless the mortgage is settled before then, the property owner loses all rights to the property on that date.
The title to the property is then transferred to the lender.
For a foreclosure by sale, the judge sets a sale date.
On the sale date, a court-appointed attorney auctions...
Debt consolidation > What is a Bank Foreclosure?
World Recession now Inevitable - Assume the Crash Position!
You can hardly have failed to notice the massive consumer-fuelled boom across most Western economies the last 5 years or so. In the wake of 911, decisions were taken at the very highest levels that a recession at this point would be disastrous, and so it was 'put off' with the panacea of low interest rates.Interest rates, in fact, have been hovering at or near 50 year lows since that time in most developed nations including the US and UK, and have only recently begun to rise back to historical norms in the face of worldwide economic pressures.The 'optimistic' among us seem to think the current situation can continue indefinitely, with a 'new paradigm' of low interest rates, easy credit, and massive house price inflation in what is otherwise a low inflation environment. They are, of course, wrong, as the key phrase 'new paradigm' should have alerted you. Whenever anyone says 'it is different this time' you can safely bet your very last dollar that it isn't!But why can't the current 'perfect'...
World Recession now Inevitable - Assume the Crash Position!
Debt consolidation > World Recession now Inevitable - Assume the Crash Position!
Credit Cards - Free Money for your Business (short term)
This money generating method was recently passed on to me by a member of my mailing list, it is important to stress that this method involves the use of credit cards and takes advantage of the options that they offer you. It is no way illegal and I am not recommending that everyone uses this method but if used correctly it can generate a short term source of income to help your business.What usually happens is that the 0% card is used to transfer the debt from your credit card that is charging you interest so that the payments you make pay off more of the debt on the new credit card as the interest rate is 0% for so many months. What you should be looking for is a credit card that offers the facility to balance transfer money into your bank account instead of just being able to pay off another credit card. The benefit being that you can then pay off other, non credit card related, debts. This process is going to be referred to as Adaptable Balance Transfers (ABT's), my terminolgy not...
Credit Cards - Free Money for your Business (short term)
Debt consolidation > Credit Cards - Free Money for your Business (short term)
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Race Cars Used In Movie On The Auction Block
(ContentDesk) November 13, 2005 -- Over 20 Race Cars Used in the Upcoming Movie "High, Wide and Handsome" will go across the auction block.This auction will take place this coming Tuesday, November 15th, at 10:00 AM. We will be auctioning from the former Robert Yates' Race Shop at 115 S. Dwelle St., Charlotte, located off Interstate 85, Exit 36.We will be selling more than 20 race cars that were used in the filming of the upcoming movie "High, Wide and Handsome" starring actor Will Ferrel. Filming...
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Debt consolidation > Race Cars Used In Movie On The Auction Block
Using Bargain Wines to Your Advantage
Using bargain wines is often preferable for occasions when it would be unwise to to invest a large amount of money in expensive wine. Do you really want to use top-notch red wine for making sangria or for serving up at parties, when friends have already had enough to drink? No, I didn't think so!Drinking Bargain WinesBlended wine is usually cheaper and a reasonable bet in terms of drinkability. As a general rule, Chilean blends are the cheapest option, although it's often worth paying that little...
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Debt consolidation > Using Bargain Wines to Your Advantage
Debt consolidation
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