Wednesday, October 24, 2007

Wipe out all your Credit card debt

Be informed and find out the best way to reduce all of your debt. Having too much debt can bring crisis to you and your family.

Here is interesting articles that make us realize that not only individuals are in debt but public companies and countries around the world.

Get Debt Help

Sunday, September 30, 2007

How to Improve your Credit Score

There is a five step process to improve your credit score.

1. Get a copy of your credit report.
2. Correct any errors on the report if any.
3. Pay off all your credit card debt.
4. Stop using your credit cards.
5. Be patient.

This takes time and a disciplined person to achieve this almost unattainable feat.

There are many credit card debt solutions such as consolidating your debt with a debt consolidation company or using a credit card debt settlement company to wipe out your debt if you are having trouble making your payments.

I always urge people to take action as soon as possible to avoid falling deeper in debt. At least find out all your options so you can sleep better at night.

Parents Control Debt

It is interesting to note that parents are helping kids understand the importance of budgeting and controlling credit card debt

How parents can reduce student debtThe Observer, UK - 23 hours agoThis is what debt advisers do with their clients, but teaching your children to understand basic budgeting in this way could stop them getting into ...

Saturday, September 29, 2007

Debt Consolidation VS. Credit Card Debt Settlement

What is the difference in Debt Consolidation and Debt Settlement?

Understanding this topice will save you thousands of dollars.
Debt Consolidation
This is used less often today because its main purpose is to consolidate all your debts into one low payment at a lower interest rate. The way this happens is you pay a company closing costs and fees to take out a home equity loan or another secured loan which pays off all your existing credit card debt. Sound good?

Credit Card Debt Settlement
Just in the last few years, this method is becoming widespread.
You don't just consolidate your debt - you actually cut your credit card debt balance in half.
Debt settlement offers lots more advantages than debt consolidation. You reduce and eliminate your debt. You save alot more money with debt settlement since this service cuts your debt by over 50%. There is NO credit card check.

Only some dedt settlement companies have attorneys working with them. This assures you that the system is working for your. The attorneys simply contact ALL your credit card companies and give them all the legal mumbo gumbo and negotiate your debt with each company one by one. And there is no charge for the attorney service. AND you can call the attorney directly and ask them any questions. They can stop the hassling creditor phone calls by issuing a cease and desist order. The attorneys work on your behalf and literally save you thousands of dollars.

Many companies out there will GUARANTEE that with their attorney negotiating for you that they will cut your credit card debt outstanding balance by over 50%.

In order to qualified for this special program, you must have a hardship which means if you have had a few late payments, then you definitely have a hardship.

And these debt settlement companies usually have a free debt consulation and analysis.

One company that I usually recommend that will tell you the whole truth about how you can easily get out of debt is credit card debt settlement.

If you qualify for this program and you don't jump as quick as you can then you have got to be plumb crazy.
So don't wait any longer - it's free - and come back and tell your story of how much you saved.

Sunday, September 23, 2007

Articles on Credit Card Debt Solutions

Understand your credit card debt situation and how to control and track it.

This article on credit card debt settlement points out that over 66% of young people are in debt and worried about how to solve the problem.

Credit Card Debt Settlement Article

Young people struggle to deal with kiss of debt
By Mindy Fetterman and Barbara Hansen, USA TODAY
Thirty years ago, the "generation gap" reflected the cultural gulf between World War II-era parents and their children. Parents then just didn't get sex, drugs and rock 'n' roll.
Today, the gap is about debt.

This generation of twentysomethings is straining under the weight of college loans and other debt, a crushing load that separates it from every previous generation.

Nearly two-thirds carry some debt, and those with debt have taken on more in the past five years, according to an analysis of the credit records of 3 million twentysomethings that Experian, the credit-reporting agency, did for USA TODAY. Their late payments are rising, and they're more likely to be late than other Americans are.

Nearly half of twentysomethings have stopped paying a debt, forcing lenders to "charge off" the debt and sell it to a collection agency, or had cars repossessed or sought bankruptcy protection.

High debt loads are causing anxiety, too. A poll of twentysomethings by USA TODAY and the National Endowment for Financial Education (NEFE) found 60% feel they're facing tougher financial pressures than young people did in previous generations. And 30% say they worry frequently about their debt.

A budget can help young people cut their spending
By Mindy Fetterman, USA TODAY
Budgeting-Credit Card Debt Settlement Article

When twentysomethings, their education behind them, move into the real world for the first time, they can be shocked at how far and how fast their standard of living plummets.

Forty-three percent of people ages 22 to 29 who were polled by USA TODAY and the National Endowment for Financial Education said their living expenses turned out to be "higher than expected."

This is the time in life when young people may find themselves facing what may be a new word for them: budget.

Interactive budget: Keep track of your spending

"Budget ought to be a four-letter word," laughs financial planner Mark Bass of Pennington Bass and Associates in Lubbock, Texas. "That's how people treat it."

Calculator: What's it worth to reduce my spending?

But if your money seems to slip through your fingers, a budget can be a valuable tool. It can help you finally get a firm handle on how much you're spending.

Calculator: How much will my savings be worth?

"For anyone to say, 'I don't have a budget' or 'I don't want to bother' is like going to play professional football but saying you don't want to learn how to block," says Phillip Cook, a financial planner at Cook and Associates in Los Angeles. "You'll get killed on the field."

Here are a few ways to find out where you might be wasting money:

•Write it down. Use an Excel spreadsheet, or just a yellow legal pad, and write down everything you spent in the past month. Put spending in categories, such as rent, utilities, groceries, etc. Look at your bank statement, checkbook and ATM debit card records.

It's easy to track spending on set expenses, such as rent. But you can easily lose track of how much you shell out on lunch, or on drinks after work with friends — especially if you use cash.

"People don't think they're overspending," says Eric Hess, a financial planner at Alpha Financial Advisors in McLean, Va.

"They say, 'Oh, that was a special purchase' or 'That was a special date.' But those special things add up."

•Track what you spend over time. Use that same spreadsheet or notepad to track your spending activity each month. Are you spending more money on one category than you should? Consider using budgeting software, such as Quicken or Microsoft Money. They'll take your online bank statements, automatically fill in your budget and do the math. You can see quickly what you're spending where.

Of course, you have to believe what the programs tell you, Bass says. "People look at how much they spend eating out, and they say, 'Naaaaah. That's impossible. I couldn't have done that.' " You probably did.

•Pay bills online. Online bill paying is faster that writing out checks and mailing them off, and the money is taken out of your account more quickly. It will take a bit of time to set it up. But once you do, you can monitor your account online — daily, if you want — to find out how much money is in your account and which bills have been paid.

•Use only a debit card. You can keep track of money you spend daily if you use a debit card instead of cash or a credit card. The money comes straight out of your account, and your statement will then have everything you've spent money on. "It's pretty simple," Hess says. "When there's no more money, there's no more money."

•Avoid ATM withdrawals. You need cash in your pocket, but beware the all-too-easy "fast cash" button on ATMs; it's easy to lose track of how many times you've hit it. "Take out $100 a month and make it last all month," Hess says. "If you take out more, you'll just lose where those dollars are going."

•Avoid credit cards. Use credit cards only for major purchases and plan to pay those off with regular payments over a certain period — say, six months — Hess suggests. "Credit card companies survive on the fact that people forget what they've charged," he says. "They'll look at a $6,000 credit card bill and say, 'How did that happen?' "

•Cut spending by 10%. "Ratchet down" spending by small amounts at first, Bass says. That'll make it easier to make it a habit. "If you say you're going to run a marathon, you don't go out and run 26 miles the first day," he says. "You see if you can just run around the track one time."

•Pay off high-interest credit card debt. Use your savings first to make a dent in any credit card debt you have, Hess suggests. "If you pay off an 18% card, you're already 18% ahead on your money," he says.

Advice: Create a budget, reduce living expenses and earn more money

Advice on cutting your credit card debt
By Mindy Fetterman, USA TODAY
With $165,000 in student loan debt and additional debt on her credit cards, Heather Schopp is struggling just to pay the minimum payments each month.
"She's treading water, but getting further away from the shore," says Phillip Cook, a financial planner at Cook and Associates in Los Angeles.

PROFILE: Chiropractor works two jobs to chip away at $165,000 in school debt

It's time to focus on getting to dry land. And that means a "significant change in mind-set," Cook says. She needs to create a budget and stick to it, cut the interest rate on her credit card debt, shrink spending and generate more income.

"A budget will give her an exact understanding of where she's spending money and what things are keeping her from achieving her goals," Cook says. "Now she can ask herself: 'What's more important: shoes? Or my goal?' "

At Cook's insistence, Schopp is using an Excel spreadsheet to trace her spending. With it, she can see how much she's spending on clothes, food, time out with friends, rent and debt payments, among other things. The spreadsheet has three columns: projected spending, actual spending and the difference.

One month, Schopp has noticed, she spends a lot on clothes, the next month, nothing. "I'm looking at it and saying: 'What was this chunk of money? Do I even remember what I bought for that $150?' "

She's able to see that some months she "gets lazy" and doesn't prepare her own lunch to take to work. "You think you're just spending $5 or $6 or $7, but do it five times a week and suddenly you're spending $130 a month on random lunches!"

A budget will help her see "how every dollar earned is spent," Cook says. And that will help her funnel money from spending to paying off debt.

INTERACTIVE BUDGET: Keep track of your spending

Schopp already spends about 58% of her after-tax income ..........

Negotiate Credit Card Debt Rates

Can you really negotiate credit card debt rates?

The answer is yes but certain conditions must apply.

Just make sure that:
1- You have not made any late payments for the last six months.
2- You have not gone over your credit limit recently.
3- You have not asked for a credit limit increase in the last few months.

Then call your creditor and make the request. Remember that credit card companies make their money on high interest rates and late charges. But always feel free to search for a lower rate with another company and make sure and read the small print.

Wednesday, September 19, 2007

Stocks Surge on Rate Cut- Helps Credit Card Debt

Did you see the article:,0,3999412.story

So now that we have an interest rate cut, stock market surge to the largest one point rise in 5 years, low inflation, and the beginning of economic recovery, then what does this mean for the consumer and credit card debt solutions.

The article said: Meanwhile, the Commerce Department said new home construction fell for the third month in a row in August. New homes and apartments dipped last month by 2.6 percent to a seasonally adjusted annual rate of 1.331 million units, the slowest pace in 12 years.

I think that if people are not buying homes, then their money is scarce and they are probably borrowing more money.

The economy has to be in much better shape - more jobs, higher pay, and lower prices, before debt gets under control.


Wednesday, September 12, 2007

Consumer Credit Card Purchases Rise

I just signed up for Technorati, so check out my Technorati Profile . It is a great place to keep track of all your blogs. I will be writing more articles on debt over there so check me out over there.

In the meantime, I was reading an article in the local paper how people keep applying for credit cards and keep using them.

Credit card purchases are on the rise and consumers are using credit cards instead of home equity loans. The Fed reported that consure credit rose at an annual rate of 3.7% in July to $7.5 billion making a total for consumer credit card debt of 2.456 trillion. Now that doesn't even include real estate mortgages.

If anyone has any suggestions how to control this rising debt situation, then please comment.

Mortages are another topic altogether and the subprime woes are affected all of us so we will talk about that later.

Some People Have No Debt

Most people are deep in debt and will be most of their life, unless they make a conscious and determined effort to resolve the situation.

Others are fortunate individuals who either rich, inherited money, got a great job out of college, or received some large gifts. One savy entrepreneur person who I admire is Michael Arrington, who is the not only the founder of Tech Crunch , which reviews new hot Internet products , but also Edgeio, which is a search engine. He majored in economics, got a law degree, and easily got a job. In March 2007 he was named by PCWorld as one of the “The 50 Most Important People on the Web” by PCWorld in March 2007. Then in June 2007, CNN named Michael Arrington in their list of the top 100 business people and his company ,TechCrunch was named one of the 50 Best Business Blogs.

The point is that if your are in a similar situation, then you don't need to know all the credit card debt solutions. You are probably not in debt.

But if you are like the rest of use, then you are struggling to make your payments on time and drowning in a hole of debt.

If you are really in debt and have a hardship, then do youself a favor. Seek help.
Don't wait till it causes other problems. I know of families where it causes domestic violence, divorces, mental breakdown, and bankruptcy.

Make a decision to ask for help and find out your options. Call my friend Lenny who knows the busines and is a professional debt specialist.

Tuesday, September 11, 2007

Understanding Credit Card Debt Solutions

There are hundreds of topics to discuss relating to debt some of which are:

  • What is the difference in debt settlement and debt consolidation?
  • What risk are involved in incurring debt?
  • Are there any statue of limitations?
  • How does this affect my credit?
  • What is secured and unsecured debt?
  • What categories of debt apply to each of these programs?
  • Should I speak with the collection agencies?
  • Is it better to claim bankruptcy to get out of debt?
  • How can I stop creditor harassment phone calls?
  • Is it really possible to get out of debt in less than a year?
  • Is it really true that people can cut their debt balance in half?
Let me know what other topics you would like to put up for discussion concerning debt management and debt issues.

Being a debt expert for many years, I realize that each person that has debt which is just about everyone, is in just a little different situation than the next person. Having debt and having too many bills to pay, being late continuously on bill payments, late fees, penalties, and even cancellations fees give all of us a constant level frustration and anxiety.

Now it is time to fight back. Now consumers can use the credit card debt solutions that exist to reduce credit card debt legally without bankruptcy or debt consolidation.
This company , credit card debt solutions, offers a free debt consultation so you can discuss your situation and get answers to all your questions.

So if you want to ge the latest scoop on credit card debt topics, then subscibe to my feed.
You can learn all about the feeds and how it works over at Google.

Ted Walker
Debt Specialist

Monday, September 10, 2007

Jim Belushi to Headline Debt Symposium

Here is one example of an educational workshop designed to help individuals and business get information on debt.

On Sept 5-7, a Debt Symposium and Expo 2007 will feature Jim Belushi as the Tribute Award Host and Charity Auctioneer at the Thursday Evening Black Tie Tribute Awards and Charity Dinner. Here is the link if you are interested.

Events like this try to educate not just individuals but businesses and industry vendors about debt management and learning how to control their own business debt, but also provide individuals with credit card debt settlement solutions and products to help educate them how to avoid getting over their head in debt.

Although this conference may be geared more for businesses, I always encourage one to learn about the opportunities and educate themselves how to not get too deep in debt and if you are in credit card debt, then learn how to manage it or sign up for credit card debt solutions program which can literally wipe out all of your debt.

Credit Card Debt Solutions | Credit Card Debt Settlement

Hi folks,
Welcome to the Credit Card Debt Settlement Blog! My name is Ted Walker and I manage the Credit Card Debt Solutions website located in Ft Lauderdale and yes, you guessed right.. it is all about debt and how to get out of debt!

If you are deep in debt, have trouble making all your payments and want to take immediate action, then one option is to enter a credit card debt settlement program where a team of attorneys evaluates your account and then calls and negotiates directly with your credit card companies. The result is that your credit card balances and other unsecured debt balances is cut by 50%. It realy works and thousands are taking advantage of this opportunity. You can call the attorney assigned to your account and know the status at all times.

Call for your FREE Consultation. Ask for Lenny, the best debt expert I know.

If your not in a rush and just need more information, then at your leisure, you can jump on over to my web site at to check out what is new, but for now, spend some time on my blog... click on a few links... bookmark it... and check back so see how you can cut your debt in half and get debt free.

And please don't forget to leave a comment and chat about some of your debt problems and experiences.

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