2006-12-18T19:28:54.197-08:00This week, I'd like to share some customer experiences with one of the mostpopular new strategies in debt consolidation refinance. Over the last fewmonths, a select few in the mortgage banking industry have developedprograms which allow borrowers to accomplish the 3 greatest goals of debtconsolidation: Get Cash to Pay Off High Interest Debt, Lower the OverallMonthly Minimum Payment, and Boost Cash Flow to allow borrowers to save upmoney in a short amount of time. The benefits are nearly indisputable:Higher Credit Scores, Lower Monthly Minimums, and Greater Flexibility. Butone of the biggest criticism of debt consolidation is that borrowers whoconsolidated their debts were still not saving enough money after therefinance, and needed to tap into home equity repeatedly to achieve theirfinal goal. What if I told you that there is a new loan product availabletoday which allows you to do all of these things, but also allows you toMake No Payments for 90 Days, with 0% interest due over the introductoryperiod? David in California said what many of you just said, that's too good to betrue! If you can do that, sign me up! David had a typical SouthernCalifornia situation, he works in sales, makes a decent living, has a youngfamily of 5 and about $30,000 of credit card and other debt, which costabout $1100 a month in minimum payments just to cover the finance charges onhis revolving debt. But David, like a lot of people in California, has seensolid appreciation year after year in the real estate market, and his home,which he purchased for about $350,000 in early 2003, was appraised for over$500,000 a bit more than 3 months ago. He owed $300,000 on the house, on atraditional principal and interest mortgage with a minimum payment of $2100a month. Because of the relatively high level of consumer revolving debt,David's credit scores had gone down to about 630 even though he was makingall of his payments on time. When David called us, his loan officer walked through each of David's creditcard bills a with him, and together they determined that David was payingand average interest rate of over 27% on his credit card payments, becausehis credit card companies had raised his rates as his overall debts hadincreased, which had hurt his credit scores badly. To make matters worse,David, like a growing number of Americans, wasn't saving any money. If hegot sick, had a slow quarter, or was otherwise unable to work for anymeaningful amount of time, he would be at risk of financial ruin. We looked at the whole situation, and used this new debt consolidationmortgage refinancing strategy to show David how he could pay off all $30,000of his revolving debt and take out an additional $20,000 or so to provide asmall cushion, partially to be used for value-adding home improvement.Remember, David's old minimum payments were: $2100/month for the mortgage +$1100/month for a total of $3300/month, his credit was getting worse eachmonth and he had no cash in the bank. After refinancing, David's new minimummonthly payment was consolidated and reduced to Less Than $1300 per monthTotal! And he now had $20,000 in the bank which he wisely put into a highyield savings account earning 5.25% until he needed it. This monthly minimumpayment being $2000 a month lower is amazing in and of itself, however whatmakes this product revolutionary is that for the first 90 days, David hadZero Percent Interest and No Payments due, allowing him to save substantialmoney each month. He socked it away each month for3 months, and now 90 days after his debt consolidation he's managed to savean additional $10,000, which combined with the $20,000 he cashed out meanshe went from almost nothing in savings to over $30,000 in the bank earningsolid interest. But what about David's credit? Now, it's only been a bit more than 90 dayssince the refinance closed, but I am happy to say (as is David!) that histhree scores are now 667, 684, and the high score is 703! Why? His debtratio is down, and his debt to income ratio is way down too. Combined with alitt[...]
2006-12-18T19:28:37.611-08:00I know you're looking at that plasma TV and thinking of buying yourself a
About The Author: Robert Carlton writes essentially for
http://www.debtania.com , a website on money management and assets. You can
come across his publications over at
http://www.debtania.com/managingcreditcard.html and many different sources
for managing credit card debt tips.
2006-12-18T19:28:21.377-08:00If you have credit card debt it is important to take its measure from
About The Author: Deanna Mascle shares more tips about Credit Card Debt and
Credit Repair in her blog at http://answersaboutcredit.com
2006-12-18T19:28:06.901-08:00Generations past used to enjoy tax benefits on their interest payments on
About The Author: For more information on Home Equity Loan, check out
Susan's site at http://www.quickhomeequityloan.info
You can read up on more Home Equity Loan articles at
2006-12-18T19:27:51.393-08:00A mortgage is nothing but the usage of property as the security to pay any
Home Loan Refinance:
People always find it very difficult to deal with higher interest debts. One
easy and good way to lower your interest rates and even lower your payments
is to go for debt consolidation. If you are suffering from a high interest
rate mortgage then you can get your debt consolidation by means of home loan
If you have a bit of real equity in your home, it indirectly means that you
have made enough payments to gain that equity and as the time passes by the
value of your home may also raise. If that equity is quite substantial you
can easily use for debt consolidation.
The whole process goes like this: Now, go ahead and get a home loan
refinance for the amount which your home worth now. You can pay your old
home loan by using a part of your new home loan. You can pay your other
debts by using the money left over from the home loan refinance.
Money Saving Benefits:
There is a variety of money saving benefits which you enjoy when you do home
loan refinance in California. The main reason for this is, there are several
alternatives to your current home loan.
You can save very heavily on the interest rates, if you use home loan
refinance in a proper way. For example, if you use your money left over to
pay your credit cards debts (which always have very high interest rates)
then you save very heavily. Likewise you can use this loan quite
intelligently to reduce your interest rates.
Home loan refinance can also help you in reducing your payments. With home
loan refinance, you have cleared all your multiple debts and you are left
only with one home loan, which is always going to take lesser payments.
Hence, not only that you save good amount of money in interest rates, but
you also enjoy good amount of money in your pocket every now and then.
With all the above listed benefits it is always a better idea to go for home
loan refinance, especially in California.
2006-12-18T19:27:34.988-08:00Americans generally have one thing in common - debt. Were you expecting
About The Author: Johnathan Bakers publishes for the most part for
http://www.debtania.com , an internet site with information about investing
and debt relief. You can come across his articles over at
and other sources for how to eliminate credit card debt information.
2006-12-18T19:27:17.972-08:00Are you looking at that amazing new plasma type television in your
About The Author: Jack Blacksmith pens primarily for http://www.debtania.com
, a web publication with topics around investing and debt relief. Writing
for works (e.g.
http://www.debtania.com/howtoeliminate.html on eliminate credit card debt )
he showed his expertise in the field.
2006-12-18T19:27:01.132-08:00The interest only loan that you have available to you today, is the same one
About The Author: Focusing on news and information about managing money,
Peter J. Wilson is publishing almost entirely for http://www.debtania.com .
His writings on consolidate debt are found on
http://www.debtania.com/personalloan.html as well as other web pages.
2006-12-16T22:40:41.171-08:00Eliminate credit card debt from your life, and you will eliminate a lot of
About The Author: Focusing on informating about investing, Johnathan Bakers
writes articles principally for http://www.debtania.com . You can find his
articles over at http://www.debtania.com/howtoeliminate.html and other
sources for eliminating credit card debt knowledge.
2006-12-16T22:40:20.675-08:00People who have debt problems very often give in to unsupported myths andhearsay without ever taking the time to truly understand the law, and theimplications of bankruptcy. So those people who have huge debt need to beaware of a couple major factors before running off to file bankruptcy on awhim. It's common to hear that bankruptcy will affect your chances of getting aline of credit. In this market, many lenders are willing to take just aboutany chance due to the fact that the market has become so competitive.Naturally, the interest will probably be much higher, and the amount ofcredit much lower, but regardless, it is possible. As for the chance at owning a home, it's been known for lenders to approve amortgage in as little as 18 months after a person has filed for bankruptcy. Here's how your bankruptcy can affect you and your money. Most of thesavings and pensions are exempt in bankruptcy from your estate. Thereforethese accounts are safe and will not be liquidated. If you have tax liensthat are not paid, those are usually not forgiven. This is something thatyou should think about before filing for bankruptcy. You should look for a a good financial adviser or credit counselor to helpyou form a financial planning strategy. It's not easy to decide to file for bankruptcy. You've probably gone througha lot just trying to avoid it at all costs if you're like most people, butthere comes a time when even trying to consolidate debt does not work. Afterevery other option seems to be exhausted, it may be time then to find a goodbankruptcy lawyer. The best way to find a bankruptcy lawyer is through a referral.Perhaps from family members or friends who have done the same.They should be able to give you a good recommendation since they've gonethrough it themselves. If you have seen first hand through these people howthe lawyer has conducted himself competently, then you can probably feelgood about obtaining him for his services. If there is nobody that you know to recommend a lawyer, or if you just don'tto go asking around, then the local yellow pages under 'attorney' shouldhelp you find someone in your area rather easily. Be sure that the lawyeryou choose can handle your case without the burden of an already tightschedule and heavy case load. Once you schedule a consultation don't be afraid to ask him questions. He'sthere to help you, not scold you as it sometimes feels. Give he or she thedetails of your case, let him address the questions you might have, and findout what his fees are. Now you're on the road to fixing your financial situation. If you don't have a bankruptcy lawyer in mind, you may want to consult theyellow pages in your phone book. Bankruptcy lawyers are listed in a specialsection under "attorneys". When choosing a bankruptcy lawyer, you need tokeep a few things in mind. You want to choose an attorney who does not havesuch a heavy case load that he can not handle your case. Try scheduling aninitial consultation. When you meet with your potential bankruptcy lawyer,make sure to ask questions. Take time to discuss your case, address anyquestions you might have, and discuss his rates and fees.About The Author: Focusing recent findings in credit consolidation, ClintonMaxwell works first and foremost for http://www.debtania.com . You can learnabout his writings over at http://www.debtania.com/negotiatesettlement.htmland other sources for negotiate debt settlement tips.[...]
2006-12-16T22:40:01.240-08:00Your home is your biggest asset. It does not just provide you shelter; it
About The Author: If you want to secure a Home Equity Loan go to Susan's
site at http://www.superbhomeequityrate.info and
You can read more Home Equity articles at http://www.mynicheblog.info.
2006-12-16T22:39:44.967-08:00If you haven't heard, student loan interest is now a tax deductible item on
About The Author: Clinton Maxwell writes especially for
http://www.debtania.com , a website with topics around managing money and
finance. You might discover his work over at
http://www.debtania.com/personalloan.html and various other sources for
personal loan to consolidate debt knowledge.
2006-12-14T16:54:44.992-08:00Debt consolidation is a method by which all unsecured monthly bills are
About The Author: Concentrating on latest news in debt loans, John C. Baker
wrote essentially for http://www.creditenio.com .
Writing for reports like
http://www.creditenio.com/debtrelief.html ,the author proofed his expertise
on problems related to debt relief consolidation.
It's not hard to get yourself in a hole that requires bankruptcy to bail you
out these days. All of the expenses in our lives, plus the debts from loans
big and small, credit card bills, and other miscellaneous debts add up and
create a helpless stress. You feel like the only way out is bankruptcy.
Though it is an option, it should be a last option, behind managing credit
card debt, and practicing good money management habits.
There is also debt settlement plans to help you out of your situation as
well. This actually is a rather quick solution, helping you get out of your
problem in a relatively short period of time. Finding a debt consultant to
help you, you'll begin to feel a strong sense of relief when your balances
are cut down significantly through the process. However, this does not mean
you're in the clear, it's simply a way to help give you wiggle room.
The way this works essentially is that you'll contact a debt settlement
consultant with a lot of experience, and they will help you with all of the
forms and paperwork involved. He or she will also go over the details of how
such a program works.
Basically, besides settling with lenders on cutting your payments down, they
will also consolidate your debt and help you recover your original financial
standing, again within a pretty short period.
You will be evaluated to see if you're qualified for the program or not.
Your expected monthly budget will then be calculated to see what needs to be
placed aside for meeting the settlement payments.
This can obviously bring a huge amount of relief to your life.
If you can't see in front of your face because of all of the bills that lay
ahead, including your car payment, your medical bills, school loans, credit
card bills then this is the program that you should enroll in as soon as
possible. These loans that you're having problems with are unsecured, and if
they're not managed well, you've got a ton of problems ahead of you, as well
as your personal assets being at risk.
Money management is a skill that we should be taught very early on, however
this country seems to look the other way on this aspect of life, and just
throw us out to the lions. You can think of this as a life lesson, however
you only want to have to learn it once. It's easy to learn however when you
make use of your debt management consultant, and very soon your social and
financial status can be pieced back in place.
These plans can help you get out of trouble in as short as five years. How
long it takes actually depends on you, and your willingness to work hard at
getting yourself out of trouble.
It's so easy to resort back to our destructive ways that get us in so much
Choose your plan wisely and be responsible with your second, and perhaps
last chance of having a financial life.
About The Author: Concentrating on the area of money management, Jack
Blacksmith works essentially for http://www.debtania.com . From his reports
http://www.debtania.com/managingcreditcard.html on managing credit card debt
) he demonstrated his expertise on the topic.
Did you know that you can deduct up to twenty five hundred dollars from your
student loans interest? There are some rules to this however. Your loan is
only eligible for the deduction if you took out the loan only for a higher
education program that's qualified by law. This can be not only for
yourself, but your dependents and spouse as well.
The money for the loan must have been spent on expenses for college or
vocational studies such as your tuition, textbooks, school supplies, any
administrative fees, any type of equipment, your room and board, and
transportation to and from school.
The student must be in a qualified degree program, and they must be a
half-time student at least. As well, you'll be obligated by law to repay the
If someone else claims an exemption for the student, if you're not allowed
by law to get the loan, if the loan was obtained by a relative, or if the
student is married to the receiver of the loan, but they are filing a
There are some limitations on what can be deducted and it's best that you
obtain all of that information ahead of time in order to save yourself from
breaking any of the rules, ensuring that you get the most of your deduction.
As well, it's important that the student is managing money efficiently. If
debt is a major problem before going into the loan, then you may want to
consolidate debt with a specific loan or program to do so. This will lower
your monthly payments, and therefore lessen the burden on you in making your
student loan payments.
Keep in mind that if you are paying your student loans after 2002, the
"first 60 months" requirement on interest paid is discontinued, and
deductions are permissible for voluntary interest payments, rather than only
required payments as in the previous years. Also you take the deduction on
either Form 1040 or Form 1040A.
It is a great benefit, and should be availed by all families, especially
those families whose children aspire for higher education but cannot find
sufficient funding. A tax deduction like this can help their parents cover a
part of their requirements.
About The Author: Focusing on informating about managing money, Jack
Blacksmith is publishing normally for http://www.debtania.com . With his
detailed writings such as http://www.debtania.com/personalloan.html ,he
affirmed his know-how on things associated to personal loan to consolidate
A majority of us have yet to hear of as well as be aware of the concept and
practice of card debt consolidation. In fact I hadn't thought of it on my
own and wasn't aware of it until one of my friends and I were discussing
money and she expressed an interest in this action called credit card debt
After I showed surprise and intrigue, she explained that one merges all
balances on all credit cards into one credit card company or institution's
plan. This move means many things:
Firstly, card debt consolidation in short means one can let go of having to
"juggle" the bills, or of having to - as my mother would say - rob Peter to
pay Paul: instead of having, say, six credit card bills (with six different
interest rates, additional fees, etc.), you have just one (with one annual
fee, one interest rate, and one finance and processing charge).
Next, card debt consolidation also means saving time. As with the above
case, which more of us than not know all too well, the filing and figuring
time are reduced significantly. And if one pays online, that time it would
take to write checks, hit the mail box, etc. would shrink to a matter of
about two minutes.
Next, card debt consolidation usually means a major decrease of interest and
other rates generally. In fact I know this one person who has credit cards
with up to 29% interest charges on each card. Then another person who did
the wise card debt consolidation move and now has not only ONE single
interest rate to be concerned with but has that rate down to something like
And lastly, the card debt consolidation effort does not mean haggling and
hassling and humiliation. To a certain extent, depending on the government
and/or financial institution you choose to go with, the application process
takes approximately five minutes (or less, online, but one needs to be
careful to find a SECURED site and therefore to take a little time to find
out that the offer is legit in the first place).
So, in order to cut your payments down by 50 or 60 percent; cut your time to
almost nothing and shear years off your stress factor and therefore your
aging process.you come out happier, healthier (at least mentally), and
definitely better off financially. Now that I think on the offers for doing
card debt consolidation that I get in the mail, I understand, too, that one
could build up a better line of credit with one financial institution,
having all amounts owed on one card, and having, basically, a higher credit
limit overall.higher than one might have on each individual credit card. Of
course not that the purpose here is to amass more debt, mind you!
About The Author: Thomas B. Stevenson provides readers with up-to-date
commentaries, articles, and reviews for
http://www.first-finance-magazine.com as well as other related information.
In simple words, debt consolidation can be defined as a type of loan with
which you can condense all your debts into a single debt for which you make
payments out on a low interest rate.
You can get a debt consolidation loan irrespective of the type of
outstanding loans - secured or unsecured. The bottom-line is reduced
payments and saving money! Debt consolidation offers you several benefits.
First and foremost, it takes away the overhead and confusion of repaying
several loans in a month. When your loans get consolidated into a single
loan, the repayment process simplifies and becomes less cumbersome. Owing to
debt consolidation, you end up saving a decent amount as you pay a lesser
rate of interest on the loan. Debt consolidation also helps you bring in
stability and the much-needed peace that you need for financial planning.
Lenders cooperate because it assures them of at least partial repayment on
the loans, though at a reduced rate of interest. Debt consolidation also has
Though by consolidating your loans, you reduce your rate of interest, but
the tenure of your loan can go up. This way by consolidating loans by
choosing a long repayment period, you can end up paying a lot more than you
initially borrowed. In this way, debt consolidation turns out to be a quite
costly option. Another drawback is that the debt consolidation loans that
are used to consolidate debts are secured on either property or other such
assets. The best way to get a smart deal to perform a great deal of market
research before deciding which company you would want to assist you in your
debt consolidation process. Financial experts advice that if you are in debt
and are facing the severity of repaying them, as a first step you should
stop borrowing more money. The next step should be to consolidate your debts
using some sensible debt consolidation program to bring the life back on to
In the booming economy, there are various debt consolidation programs that
you can choose from. A consolidation program can be a paid program or it can
be a free service. With the growing popularity of the Internet, you can also
apply online for debt consolidation. There are several banks and financial
firms that provide online advice and debt consolidation services. Once you
decide on your debt consolidation company, the company will provide you with
a financial analyst or an expert counselor to customize a debt consolidation
program to suit your financial needs. Once the program is in place, the debt
consolidation company experts negotiate with your lending companies to get
you a lower interest rate and thereby secure a lower monthly payment option.
When an agreement is reached between the experts and the creditors, you
start paying a consolidated periodic payment out to the debt relief company.
The consolidators will divide your payment among your creditors.
About The Author: Concentrating on news and information about credit
consolidation, Peter Mason wrote normally for http://www.creditenio.com .
You can discover his writings over at
http://www.creditenio.com/debtconsolidation.html and other sources for
consumer debt consolidation information.
There is no doubt about it; payday loans can get you some cash very fast,
especially with the no fax payday loans available online. The no fax payday
loan is the fastest way to get some cash because you don't have
documentation to slow the process down. The main requirement is an extremely
good credit score to justify the extra risk the loan company is taking.
These loans are, as the name suggests, designed to give you some quick cash
to last you until your next payday. The downside is that there is usually a
high interest rate attached, maybe $15 to $30 for every $100 you borrow.
Always try to check the lenders integrity and be sure to pay off your loan
by your next payday, because you don't want the money to start accruing
interest. Used like this, payday loans can be very useful. What makes the
payday loan dangerous is if you get so excited about getting this quick cash
that you don't pay attention to all the terms and conditions included with
There are loads of these payday loan providers on the internet and applying
for a payday loan is a fairly simple process.
With the help of the information super highway you can quickly apply for and
get a payday loan right from the comfort of your computer chair, as long as
you possess a phone line and have internet access. Most of these loan
companies can electronically deposit the cash you require directly into your
checking account within 24 hours. Some of these companies can operate even
faster. You will of course need to provide the respective company with your
checking account information.
When all said and done it would definitely be better to avoid the need for
one of these fast cash type of loans, and the higher interest charges that
they entail. This could be achieved by doing a bit of forward planning, not
always possible, I know. Just be sure you can pay back the loan by the
allotted time, otherwise taking out a payday loan may bring more problems
About The Author: James Hunaban is the owner of
http://payday-loans.jims-info.com/ a site full of Payday Loans information.
Sometimes it seems there's just no way out. Maybe your car breaks down, you
have an unexpected medical expense, or you just find your self coming up
short when you're shopping to put a smile on your kid's face for the
holidays. All of us have felt strapped financially at times, and the choices
we have are accruing more credit card debt, borrowing from friends or
family, or trying to get an advance from your boss.
In the past decade our communities have seen little money mart stores
popping up all over the place, fulfilling a need that many of us have when
we're strapped for cash. If you have a job and are just a little short of
cash, you might want to consider taking out a Payday Loan. Now you can get a
cash advance payday loan on the Internet approved with no credit check in as
little as 30 seconds, and they will deposit up to $1,500 electronically into
your bank account within 24 hours.
Payday loans, sometimes called cash advance or paycheck loans, fulfill a
real need for people that are forced to live paycheck to paycheck, have
little or no credit, or just need some extra cash for the holidays. Just be
sure you can pay the loan back and as quickly as possible - payday loans are
A short term cash advance payday loan online will charge you anywhere from
$15 to $30 for every $100 borrowed. When looked at as an annual percentage
rate this is huge, but the idea here is to pay the loan off, or at least
down very quickly. Therefore it is probably best to look at the charge as a
fee, or service charge.
Payday loans are not without controversy. Critics of the industry say that
the brick and mortar lenders tend to set up shops around poorer
neighborhoods and close to military bases, where people are often strapped
for cash and don't really understand the relationship between time, money,
and recurring payments. Some compare the lenders to loan sharks because of
exorberant interest rates that can reach in excess of 250% when annualized.
Most states have usury laws that put a cap on what an institution can charge
for a loan, but lenders can easily bypass that by funding the loan through a
bank that is chartered in a state that has no such law.
On the other hand, payday loans are not the only ones whose fees seem
excessive when annualized. A bounced check or a late credit card payment can
easily cost just as much or more. Think if you bounced a $100 check every
month for a year. With an NSF fee of $48, that would come out to a whopping
1,250 annual percentage rate.
The bottom line is that a payday loan can be a good thing if you're in a
bind, and are sure you will have the capability to pay it off quickly. If
you think you would have to pay it off slowly, you would be better off using
a credit card and making the minimum payment, if that is an option.
About The Author: Michael Talbert is an author that writes on a variety of
topics. Visit The Loan Station at http://www.Loan-Station.net for more
Debt consolidation refi loans reduce your debt sooner by lowering the
interest rate on your principal. So for the same amount you are paying now,
you can trim years off your payment schedule. At the same time, you can
further reduce your mortgage costs by finding low rate refinancing.
Cashing Out Equity Can Save You Money
By securing your debt consolidation loan with your home's equity, you
qualify for some of the cheapest financing available to you. So you can
trade in your double digit credit card rates for single digit mortgage
rates. To get the most out of your cash out refi, decide if you want one or
By refinancing your original mortgage, you qualify for lower overall rates.
But if you have good rates now, it might be better to take out a second
mortgage. Even with higher rates, having separate mortgages could be cheaper
Selecting The Right Refi Terms
Terms are just as important as rates when trying to reduce your debts.
Ideally, you want a short term loan to get out of debt sooner. This doesn't
necessarily mean higher payments though.
With lower rates, you can select a loan years shorter with the same monthly
payment. Adjustable rate home loans also offer low payments, but there is
the chance that your rates could increase. Fixed rate loans provide security
of knowing what your rates and payments will always be.
Lenders Make The Difference
Not all lendering companies are created the same. Each financing company has
their own formula for determining loan rates and closing costs. To make sure
you are getting the best refi deal for your credit circumstances, ask for a
loan estimate. Within minutes you can receive dozens of offers from several
lenders. You can then make side-by-side comparisons to select the best
option. This is just another way you can save thousands on your loan's cost.
When you are ready, you can complete your loan application online for speedy
approval. In less than two weeks, your loan's paperwork can be completed,
and you can pay off your other bills.
About The Author: View our recommended lenders for
2006-12-10T18:08:59.786-08:00Everybody seems to be just itching to get hold of a low interest creditcard. Who would not be? These low interest credit cards definitely offer alot of major advantages over normal credit cards. Aside from the lowinterest, other fees like annual fees might also be waived. Low interest credit card means you won't be paying more for a credit cardpurchase. Since there are several low interest credit cards available in themarket, it'd be better to first understand how these interest rates work. Some credit card companies might entice you to sign up for their credit cardby offering a low introductory interest rate.This could even be as low as 0%. This rate could go on to up to a year. Whenthis introductory period is over though, you would have to pay the normalinterest rate, which in most cases is referred to the purchase APR. Customers might find these low interest credit cards very much appealing.True enough, these low interest offers could definitely help lower yourcredit card debts. With these offers, consumers can just transfer balancesto whoever has the lowest interest rates. Fortunately for consumers, banksare in stiff competitions with each other. Low or even 0% interest offerscan last to up to a year, in a bank's effort to keep the customer'sfinancial portfolio. Not everyone might be able to avail of these low interest credit cardsthough. Banks usually require that you have an excellent, or at least goodcredit score. If you do, it is likely that banks would offer you lowerinterest rates. Banks find it less risky to offer better deals to those whoare known to be able to payoff their debts. Those who have a great credit have good chances to obtain interest rateswhich are lower than a normal credit card. This could range from 9% to 15%.So if you have a good credit card, you might want to shop around some morefirst in looking for a better deal. Having qualified for low interest credit cards, you'll surely get betterintroductory offers. Usually, this could be delayed APR for up to a year. Ifyou have this card, you'd be able to payoff credit card balances at noadditional interests. This makes it highly profitable. Low interest credit cards rarely come with annual or enrollment fees. Thosewho have perfect credit are surely able to take advantage of all thesebenefits. High interest credit cards with annual fees are usually intendedfor high risk cardholders, specifically those with bad credit. However, it should not be forgotten that banks are for-profit organizations.Some low interest credit cards may come with a catch. Some companies mightrequire customers to spend a minimum amount on their credit cards or else,additional fees might be imposed. Also, the moment your low interest rateperiod is over, which you might not notice pass, the normal and exorbitantinterest rates would apply. These are just some of the ways banks earn tocompensate for their low interest rates. Low interest credit cards could really work for you but before committing toany card, be sure you have understood and read the fine prints. Usually, itmay stipulate additional fees or conditions. It is best to be familiar witheverything about the card first to be able to effectively weigh it againstother low interest credit cards offered in the market.About The Author: Mario Churchill is a freelance author and has written over200 articles on various subjects. For more information checkouthttp://www.supercreditcardoffers.com andhttp://credit-card-offersonline.info.[...]
2006-12-10T18:08:26.096-08:00Cashless shopping is clearly convenient and it there's no doubt it comes inhandy whenever you don't have the cash to spare for those "unexpected"expenses or "must have" indulgences.Unfortunately, life is not that simple and just a few of those so-calledmust have impulsive purchases can, over time, lead to a huge credit carddebt and eventually the piper comes calling.At some point, you must face the fact that you have to put the plastic down,exercise discipline and get serious about finding effective ways to reduceyour debt. If you're reading this, you are probably up to your eyeballs with all sortsof debt. Ignoring them is wishful thinking and whenever you think about it(probably daily) you ask yourself, "how did I get myself into such a mess?" The good news is that you've made the most important step and that is you'verealized that you need to do something about it.Reality has finally come crashing down. Of course, your debt will not justmagically go away and so you have to find a good debt reduction plan inorder successfully manage the payments without living like a pauper for thenext 30 years. As with any type of credit card debt solution, one must be able to have theguts to finally say goodbye to his or her credit cards and focus on whatevertype of debt reduction options currently available. The next step is that you must cut all ties with your beloved credit cardsand get serious about debt reduction. Of course, the fact that you'rereading this article shows you've done just that - congratulations.Incidentally, if you're like most, you probably have some grand plan on howyou want to pay off our debt but as perfect a plan as it may seem in yourimagination, playtime is over and you must focus on real world solutions. You have to setup realistic goals when it comes to debt reduction - arealistic timetable of how much you'll be paying and for how long. Youdidn't acquire your debt overnight and you're not going to pay it offovernight either. It's important that your goals are manageable, as well asachievable. On the other hand, just because you're in debt doesn't mean youhave to eat bread and water for next 10 years, cancel cable and buyeverything at the Salvation Army just to meet your monthly payments. There is certainly no need for you to torture yourself even more. What youclearly need is a good reduction plan and you can certainly achieve this ifyou cooperate with your creditors when it comes to finally fixing yourfinancial life. And if you still want to keep a few of your credit cardsactive for emergencies and to help maintain a decent credit rating thenthat's ok. A good guideline on using credit cards is to keep two. Use one tobuy gas and groceries but then pay off the balance each month and use thesecond one only for emergencies. You should also set up a budget and track your expenses so you know exactlywhat it costs you to live each month an the setup a realistic debt reductionprocess based on that. You'll be amazed at how much you spend on frivolousand unnecessary items when you see everything in black and white. A good budget will also help you stop buying on impulse since this where somany people usually use their credit cards.Before buying anything, you really must ask yourself over and over if youactually need this product. If it's just a luxury or want look at yourbudget and perhaps every 3 or 4 months you can buy a little something extraif it fits into your debt reduction plan. In summary, I hope you've gotten some good ideas and usefu[...]
2006-12-10T18:07:52.943-08:00Do you have a hard time paying your credit card bills? Starting to getnotices from waiting creditors to pay? Worried that you might lose yourproperties like your house because of credit debt? Chin up: Dealing withcredit card debt is not as hard as you may think. More and more consumers today find themselves in the uncomfortable situationof only being able to afford the minimum payments on their credit cards. Or,even worse, not being able to afford even the minimum payments. In today'sworld, it is often easy to get in over your head and find yourself spendingmore than you make. It seems that everything is going up but wages, and itis all too easy to fall behind.Learn more ways to reduce debts today. There are numerous types of debt, including basic loans, syndicated loans,bonds, and promissory notes. Debt, especially large sums of debt, can alsobe secured through a mortgage or other security interest over some of thedebtor's property, in which case the creditor will have some rights overthat property in the event that the debtor becomes unable to repay the debtand defaults on the loan. Debt consolidation allows a consumer to present their financial case to alender who may be willing to take on the burden of paying off debts inexchange for one monthly payment made to the lender. A Closer Look at Bankruptcy Bankruptcy is a process of the federal court that is aimed at helping bothbusinesses and individuals in clearing up their debts and repaying under theprotection given by the bankruptcy court. There are basically two types:liquidation and reorganization. Liquidation bankruptcy, under Chapter 7 ofthe bankruptcy code, occurs when you plead the court to have your debtsdischarged. Some of your properties will then be liquidated or sold by thebankruptcy court, returns of which shall be divided among your creditors.This type of bankruptcy proceeding lasts for four to six months which isquite fast and only one appearance at the courthouse is necessary. It isvery convenient and doesn't require payments stretched over time. Chapter 7 bankruptcy isn't available to everyone, though. You may won'tbenefit from it if in the past six to eight years, you have benefited from abankruptcy discharge. Likewise, if after examination of your income,expenses, and overall debt, it was found out that the other type ofbankruptcy proceeding is more appropriate, then you can't insist on pursuingthis kind. Veterans who are now disabled and who incurred their debt at thetime of their active duty are almost automatically allowed to file. Inaddition, those people whose debts are caused by running a business arequalified as well. For those people not belonging to any of thesecategories, certain criteria must be met. The criteria has been affected by the new rules imposed on bankruptcy. Oneof the considerations is your current monthly income which in turn will becompared against the median income for a family of similar size in yourstate. This isn't your income at the time of your filing. Instead, it isyour average income for the past six months before filing. Social Securitybenefits like retirement and disability benefits aren't included in thecomputation. If your income appears to be enough to support the other typeof bankruptcy proceeding in spite of permitted expenses and payments forchild support, tax debts, and others, liquidation bankruptcy isunfortunately not allowed. A home equity loan literally allows an individual to borrow from a lenderbased on th[...]
2006-12-10T18:07:36.406-08:00Credit card debt is widespread amongst the average American household andseeking ways of consolidating debt usually means utilizing the equity inones home or seeking a personal loan to service the credit card payments.Using the equity in your home to apply for an equity home loan and directingthe funds towards debt management is an excellent method for getting yourhouse in order in regards to your finances. A personal loan without collateral may sound inviting but rest assured anyfinancial institution or broker is going to want a higher return for theadded risk. Using the equity in ones home has become a popular form ofliquidity to finance and consolidate existing credit card debt, however notwithout its risks. Be sure you read the fine print & beware of the risks ofdefaulting on any repayments when using the equity in your home for a equityhome loan as you could end up losing your family home to your creditorsshould you fail to meet the repayments!!! Consolidating debt for some means digging into their 401K for immediaterelief to the detriment of their future well being.Immediate relief from credit card debt and the high fees and interestassociated with such debts is a huge incentive for some to look for the 401Kalternative. The compromise to such action is that you are forgoing futuresavings and security for immediate relief, but if the timing is right andyou are confident of repaying the loan it certainly is a viable proposition.It is a very appealing short term debt solution which has its benefits aswell as draw backs. It is always wise to stack the advantages against the disadvantages inanything dealing with your finances and when formulating a wise debtmanagement strategy. Any unforeseen event which can disrupt your repaymentschedule could mean penalties due in the form of tax installments or thefulfillment of the principal on the borrowed loan. Tax perks when saving with a 401K account are reduced when borrowing offyour retirement, as you are reimbursing the account with after-tax dollars. Be sure to negotiate a better interest rate on any repayments with any loanwhether it be a personal or a home equity loan.The higher the interest rates, the higher the repayments, the lessdisposable income that is left for savings or other pleasures of life soensure you manage your credit card debts first as they carry the highestinterest rates of any form of credit. The rate you are able to negotiate your interest will be fixed for theduration of your personal loan and you will be required to make monthlyinstallments to service the loan which will be at a rate much lower than anycredit card debt you are carrying. Undisciplined habits of making late andoverdue credit card payments tends to incur extremely high fees and evenhigher interest rates which can become a major problem to most budgets. A savings account allows you the luxury of redirecting resources to areas ofdebt which have the potential to erode ones worth very quickly if leftunchecked!!! When you compare the interest rate you earn on a savingsaccount and the cost of credit card debt it makes little sense notredirecting funds from you savings account towards servicing debtselsewhere???Be smart and service your credit card debt before setting up any high yieldsavings account, you will be thankful you did in the long run.About The Author: http://www.accounttt.info: A site about using personal &home equity loans to service credit card debt[...]
I make my living selling people fast cash payday loans, and I have got to
tell you. People just aren't fair to loan sharks.
It's there, isn't it, even in the name. Loan shark. But really, what I do
when I hook someone up with a fast cash payday loan, is give another chance
to some poor guy who just does not have any chance at all without me. Sure,
I make cash off of the poor, but is that so wrong? I don't force anyone to
come to me and get their fast cash payday loan - they come to me themselves.
If what I was doing was somehow hurting them, then why would they go for it
in the first place. But you try telling that to the people picketing outside
of my fast cash payday loan center.
They assert what I am doing is usury, and I don't know anything about that,
but as my mama always said, you can't use anyone who does not want to be
used. Yeah, I do charge high interest rates, but it isn't like these people
are not already in debt. It's the routine, you know the drill.
Robbing Paul to pay Peter, or however the saying goes. And the significant
thing is that I provide these people with money now, which can hold off
severe legal trouble for a good six months. And you know what, for some
people, a fast cash payday loan can be enough to start to get their head
above water again. That fast cash payday loan which people tell me is so
unfair and exploitative, might be the only thing that stops some of these
folks from losing their homes.
And this is not some new fangled scam. I didn't open up some fast cash
payday loan racket on the internet overnight or anything, just catching on
to the latest craze. This here is a family business. We have been part of
this community for generations, helping people who need a fast cash payday
loan, and doing some business as a pawn broker on the side.
Now I am not proud of what I do, but I'm not ashamed either.
Everyone has got to make a living, and I do what I have to to make mine. If
there is something wrong with that somehow, it is lost on me. I help out the
destitute when they need a fast cash payday loan.
About The Author: Thomas B. Stevenson provides readers with up-to-date
commentaries, articles, and reviews for
http://www.financial-information-directory.com as well as other related