Debt Collection Statute of Limitations
Debt Collection Statute of Limitations In the game of Debt Collection, Knowledge is King. The more educated you are about your legal rights and what your creditors can and can not do if you are unable to pay them, the better off you will be. If you are dealing with older debt, it is very important to know the Debt Collection Statute of Limitations in your state. The Statute of Limitations...
Read MoreCitigroup increases clients debt by raising interest rates!
A few days ago Citigroup sharply increased their rates on about 15 million of their card holders. Could the reason be because starting next month there will be laws in place to prevent them from doing this? Nah, couldn’t possibly be the reason. Citigroup claims the rate hikes where merely part of regular account reviews. What do you...
Read MoreChase forcing more consumers to turn to Debt Settlement or Bankruptcy
As the recession drags on and consumers are struggling to keep their heads above water, JPMorgan Chase is throwing out bricks to many of their customers. About 15 million Chase credit card holders are going to get an unpleasant surprise in August when their minimum payment jumps from 3% to 5%. If you have a $10,000 balance on your chase card, instead of the typical $300 payment, you may be...
Read MoreHow The Debt Snowball Method Works to Pay Off Debt Fast
A Quick and Simple Method to Pay Down Debt. The Debt Snowball is one of the most talked about methods for paying off debt, although there’s some disagreement about one of the basic premises of the Debt Snowball – whether to start paying off the smallest debt first or the one with the highest interest rate. I tend to prefer the method of starting with the highest interest rate first...
Read MoreFun with Financial Calculators
Ok, so you can’t really have much fun with them, but a very insightful and valuable tool. Knowing a few functions on the financial calculator will go a long way toward learning the true cost of debt and why it is essential that you get rid of all consumer debt as quickly as possible. In this video I quickly outline the true cost of carrying $50,000 dollars of credit card...
Read MoreFinancial Advice from our Grandparents
Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser. This recession has many of us wishing that we would have listened to our grandparent’s financial advice. You know, when they told us to spend less than we make, save more and don’t take on debt. No,...
Read MoreJamey Johnson – The Dollar
This song from Jamey Johnson is one of my favorite songs. As the father of two young boys myself, it really puts in perspective the things that are important. Debt freedom is really time freedom. Time to do the things you want and enjoy. Most of us are taught to trade time for money, and the more debt we accumulate, the more time we have to trade to pay for it. Pretty soon many of us find that...
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