From the monthly archives:

February 2010

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Avoid Subprime Credit Cards

February 26, 2010

You don’t have to look far to find someone in the midst of some sort of financial crisis. Unemployment, divorce, unexpected medical bills and paycuts are the most common reasons that people fall on hard times, and they can happen to anyone. And most people will suffer damage to their credit rating as a result.  [...]

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How To Pay Off Credit Cards With Debt Snowball Method

February 25, 2010

Yesterday we talked about how to to pay off credit cards with minimal interest, and if you’re the type that’s motivated by paying as little interest as possible, then you’ll love that strategy. But there’s another credit card pay off strategy that some personal finance experts endorse which many consumers have had success with. It’s [...]

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How To Pay Off Credit Cards With Minimal Interest

February 24, 2010

The typical person has several credit cards and carries balances on them from month to month. And with ever-increasing interest rates, paying off your entire balance is more difficult today than ever. The current average interest rate for new credit card offers is climbing towards 20% and interest rates are certainly higher for current cardholders [...]

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How To Handle Creditor and Debt Collector Calls

February 23, 2010

No matter how many times third party debt settlement companies say they can stop creditor phone calls, they can’t. No one can.  Original creditors have the right to try and collect on debt owed them. The reality is creditor phone calls are an unavoidable part of the collections process. Anyone or any company that says [...]

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Credit Card Reform Is Here

February 22, 2010

Today is a very important day for all consumers who use credit cards and a big blow to the banks who issue them. Today is the day the Credit CARD Act of 2009 goes into effect. Congress passed this new legislation last year and it was signed by President Obama in May 2009. The idea [...]

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5 Tips For Managing Small Business Credit Cards

February 19, 2010

If you are a small business owner, you probably receive offers for business credit cards all the time. Business credit cards differ from personal cards and understanding the differences is important in utilizing them to your advantage and for full protection. Here are 5 tips you should always keep in mind when using credit cards [...]

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Using Credit During Debt Settlement

February 18, 2010

Using the do it yourself debt settlement approach doesn’t mean having to give up the use of credit cards entirely.  This is an important benefit of the debt settlement strategy compared to other debt reduction programs, which subscribe to an all-or-nothing approach to debt elimination. You should immediately stop using any credit cards that you [...]

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Why Most Debt Reduction Programs Fail

February 17, 2010

On the whole, about 3 out of every 4 debt reduction programs started by consumers, professionals and small business owners end up failing.  That is a staggering failure rate.  The reason is these programs are inflexible and don’t allow for the usual ups and downs that people experiencing financial difficulties typically endure. The most commonly [...]

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Difference Between Unsecured Debt And Secured Debt

February 16, 2010

Oftentimes consumers inquiring into debt settlement aren’t clear as to which of their debts are eligible for this strategy. Most types of unsecured debt can be negotiated making them eligible for debt settlement.  For this purpose, unsecured debt shall be defined as any loan, lien or other financial obligation of a client, which IS NOT [...]

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Wage Garnishment By Unsecured Creditors

February 15, 2010

Debt collectors are notorious for making it seem like wage garnishment is just a matter of time if you fall behind on payments on your credit cards and other unsecured debt.  While this is far from the truth, the mere thought of losing part of your income to wage garnishment can put a real scare [...]

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