Road Signs for self help and personal development |
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Dealing with DebtOff we go to jobs we may or may not love, afraid to leap out on our own and follow our bliss, because we are servicing debt - the car payment, the house payment, and the credit cards. Here are some warning signs and some helpful signs to guide you to safety. Don't let debt rob you of your peace of mind, your time and your wealth. |
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HomeTruth About CreditRoad Map12 steps to being Debt FreeBest Advicedealing with debt,Learn All You Can
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I got this caution theme from www.truthaboutcredit.org "The Truth about Credit" page from PIRG, subtitled "A Road Map To Avoiding Credit Card Hazards"A Road Map To Avoiding Credit Card HazardsA guide for getting a credit card, avoiding credit troubles and clearing up your credit problems...
As a result, the average credit card debt for Americans who carry balances reached an all-time high of $5,610 in 2000, an increase of one-third since 1995. As consumers struggle, credit card companies are making bigger profits than ever.
[to read the
rest of the article, click
http://www.truthaboutcredit.org/roadmap.html ] |
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12 Steps to becoming Debt Free; a special report by Michael Angier for Success Net.
1. Become Sold
on the Value and Possibility of Being Financially Independent "Becoming debt free is not only a possibility, it should be a primary objective - even a responsibility - for everyone." To read the full article, sign up for a free Guest Membership at
Success Networks International |
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Best Advice:
2. Pay off all balances in full every billing period, or pay as large a portion of the remaining balance as possible, making the largest payments toward the card with the highest interest rate. Always pay more than the minimum, if possible! dealing with debt - from the SingleMomz web site:http://www.singlemomz.com/money/debts/dealingdebt.shtml Tips on Dealing with Debt
Cardweb.com, Inc.: 800-334-7714,
www.cardweb.com
Federal Trade Commission: Publications Division
National Foundation for Consumer Credit Counseling
Copyright C 2001 Clark Howard and Mark Meltzer |
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Learn all you can before you get a credit card, use a credit card, or try any of the debt consolidation services.Federal Trade Commission Facts for ConsumersThe Federal Trade Commission Bureau of Consumer Protection has a ton of great information on credit, debt, and getting out of debt. Ask for their brochures "Knee-Deep in Debt," "Fair Debt Collection," and "Credit Repair: Self-Help May Be Best." The subject of the last one is "any thing a 'credit repair company' can do for you, you can do for yourself for free." Find them at www.ftc.gov or call 1-877-FTC-HELP Federal Trade Commission Bureau of Consumer Protection, Office of Consumer & Business Education. (back to top)
Besides a trip to the library, or checking out the Internet for tips and advice, you can consult certified credit counseling or debt management agencies. These non-profit firms provide expert advice on how to manage your debt. For people with extensive debt, these organizations will help you formulate a debt management plan. One of the largest is the National Foundation for Credit Counseling (NFCC), a national nonprofit network of 1,450 centers across the U.S. Among the other leading agencies are American Consumer Credit Counseling and Consumers First. (back to top)
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Seek credit counseling as soon as financial problems arise. To locate a free or low-cost credit counseling agency near you, call 1-800-388-2227 or visit www.nfcc.org. For one-on-one counseling over the phone, call 1-800-680-DEBT, or visit www.myvesta.org on the Internet. A true non-profit agency will not demand large "set up fees" up front, and fees for services, if any, will be minimal. Although most commercial services claim to be not for profit, guess again. (back to top) |
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Truth About CreditRoad MapFTC infoDo it YourselfCredit Card Hell
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Too Late? Already in Credit Card Hell?
In May 2002, I began using a debt
consolidation program. They had great ads on t.v. about "working with your
creditors" to get the finance charge, interest rate, and monthly payments reduced. I wasn't behind in my payments; they had just gotten so
large that it had become overwhelming. I was really scared and I was
getting tons of offers from "debt relief" programs. I thought I could get
help to repay the debts and still have a life.
It was a terrible mistake.
Credit Counseling Services:First-Ever Study of Credit counseling finds high fees, bad advice, and other abuses by new breed of "Non-Profit" Agencies --Credit Card Company Practices Have Helped Create Counseling Crisis-- "As more Americans seek assistance for serious debt problems, the National Consumer Law Center (NCLC) and Consumer Federation of America (CFA) unveiled Credit Counseling in Crisis, a report detailing the severe threat to consumers from a new generation of credit-counseling agencies. The comprehensive study found that, unlike the previous generation of mostly creditor-funded counseling services, these new agencies often harm debtors with improper advice, deceptive practices, excessive fees and abuse of their non-profit status." Read the report at http://www.consumerfed.org/040903ccreport.html
Deanne Loonin, NCLC, 617-542-8010 |
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Truth About CreditRoad MapAccident AheadBest AdviceLearn All You Can
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The Twelve Steps of Debtors Anonymoushttp://www.debtorsanonymous.org Based on the successful AA twelve step program, this
one focuses on debting. Click here:
http://www.debtorsanonymous.org/help/steps.htm You may think you
do not have a debt problem, certainly not a compulsive problem but you
will be surprised when you read the "Signs of Compulsive Debting." For example, difficulty in meeting basic financial or personal obligations, and/or an inordinate sense of accomplishment when such obligations are met - that doesn't sound so bad, does it? Living from paycheck to paycheck - that's all of us, isn't it? In our society we are encouraged to see debt as normal. When we think of "debt" we think of credit cards, maybe even the car payment, but do you consider your mortgage when you think of debt? How about your tax bill? Take a good long honest look at the level of debt in your life and ask yourself, "How can I change this?" Reduce the debt in your life. Be Free.
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Mandatory Arbitration:You probably received a notice in very small print that your credit card has adopted a mandatory arbitration clause. You either have to accept this clause or pay off and close the account. You have very little choice. However, these clauses have been found to be a violation of your rights in several courts. What it does is prohibit the consumer from seeking redress of grievances from the government in court. Public Citizen: http://www.citizen.org/ “Arbitration clauses are achieving their intended purpose of undermining consumer protection, civil rights, and other laws that level the playing field between big businesses and individuals. The individual is left with no choice but to waive these rights, because arbitration clauses are presented on a take-it-or-leave-it basis.” Public Citizen. |
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1.
Carry only one or two major credit cards, and avoid using the full
available credit line. Remember that credit card
purchases are more expensive than cash or check purchases once interest
and other fees are included. Use credit cards sparingly and wisely.
Contact information and disclaimer.
Please use anything you can from what I offer. If it is on this page, I found it useful. But that doesn't mean it will work for you. Any problems or complaints with any thing here will be between you and that company. I am not guaranteeing that it will work for you or be right for you. If you have questions, you can ask me.
A personal web site by Sharon Walls – contact me at Sharon@swroadsigns.com
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Well Being |
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Affirmations |
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I AM ALWAYS ADDING AND UPDATING. PLEASE VISIT AGAIN SOON AND REMEMBER,
WE ARE ALL EXACTLY WHERE WE NEED TO BE, DOING EXACTLY WHAT WE NEED TO BE DOING.
SENDING YOU LIGHT AND LOVE. SHARON