Archive for December, 2008
Make 2009 the year of common sense – StarPhoenix
Make 2009 the year of common sense StarPhoenix, Canada - 3 hours ago Now in debt , many blame the credit card companies. But the reality is, if used responsibly, access to credit can revolutionize self-sufficiency. …
How Can I Lower My Interest Rates or Eliminate or Consolidate My Credit Cards? – Anna
Anna wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form . I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty . If you would like to help me to help others, there are easy and free things you can do, click here to learn how you can help . “Dear Steve, I own a t-shirt printing/embroidery co. I used credit cards to expand because I couldn’t get the money I needed for cash flow. I was doing well and seem to be turning around but last year was difficult and I fell behind on a few payments & had late pays. I am collecting things to sell also making my lists of “to do”. We are changing our biz. strategy for 09. But I feel like I am going in circles just paying interest and late fees. I would liquidate my company but I have a lease obligation that I can not get out of (3 more years) and I have a great client base and staff. I’ve been paying at least the minimum and a few hundred more on each card when possible. I have mistakenly paid the wrong card at the wrong time (I have 3 AMEX cards) making 1 a late pay. I now only use 1 card and I pay it off each month. How can I lower my interest rates, and or eliminate or consolidate my credit cards, I am not behind but I’m paying high rates on a few cards. Anna” Dear Anna, Being a busy entrepreneur it is easy to mess up juggling the bills. It happens to a lot of people in the same position. Don’t beat yourself up over it. I’m wondering if you could sell your company and let the new owner take over the lease obligation, with the consent of the leasing company of course? A thought you might want to explore with them. Ask them if they will consider transferring the lease if the new owner qualifies with the leasing company. I’ve seen it happen before. Lowering your rates isn’t as easy today as it once was. In the past you could call up your credit card company and ask your current company to lower your rates, and they would. These days, in these uncertain economic times, the credit card companies appear to be doing more to turn customers away than want to retain them with lower rates. You can always call American Express and ask them if you are eligible for lower rates and see what they say. It won’t hurt. Now depending on your credit report and credit score , you can still get some decent balance transfer deals. Click here for credit card deals and see what is currently available. I just took a quick look and there are some interesting offers that will allow you to transfer the balance at 0% and then charge you a low rate of interest moving forward. Since your primary creditor is AMEX and they are usually the most difficult to deal with in a debt management program , I think you’re better of switching two of your cards over but keep the one AMEX that you’ve had the longest so the length of credit boosts your credit report . Big hug. Steve Source: How Can I Lower My Interest Rates or Eliminate or Consolidate My Credit Cards? – Anna Other Related Articles to Read Ed Is Scared But Courageous In The Face Of His Debt Fred Owes AMEX $40,000 And Can’t Pay American Express Back Bank of America Hit With Class Action Suit Over Credit Card Fees And Charges Chloe Ruins Credit of Daughter With American Express Valerie And Her Vanishing American Express Card Business Account
More economic pain seen in 2009 – ReportonBusiness.com
More economic pain seen in 2009 ReportonBusiness.com, Canada - 3 hours ago … at least early 2009, and more sleepless nights for everyone from central bankers to consumers struggling to pay off mortgages and credit card bills. …
Culinary tourist eats around the world in and around Los Angeles – CBC.ca
Culinary tourist eats around the world in and around Los Angeles CBC.ca, Canada - 53 minutes ago The international noshing left Galuten with $4000 in credit card debt , which he hopes to erase by writing a book about his experiences. …
Mortgage Matters: More Risk Tolerance – Opinion250 News
Mortgage Matters: More Risk Tolerance Opinion250 News, Canada - 2 hours ago That’s fine as long as you don’t have any other debt . Credit cards, lines of credit, vehicle loans, student loans, etc. Prior to 1970 credit card debt was …
The year in words: 2008's most overused clichés – CTV.ca
The year in words: 2008's most overused clichés CTV.ca, Canada - 2 hours ago By comparison, a "bailout" is something which parents extend to errant children who rack up credit card debt . If there was one news story that will define …
A year for getting past gloom – Waterloo Record
A year for getting past gloom Waterloo Record, Canada - 4 hours ago Before his plans collapsed under a mountain of debt , Arlan Galbraith, the so-called Pigeon King, claimed he was saviour of the family farm. …
Sally Mae and the Student Loan Swindle – MWC News
Sally Mae and the Student Loan Swindle MWC News, Canada - 3 hours ago Even the powerful credit card industry can't get past bankruptcy to garnish what's left of the graduate's assets. The student lending industry can even get …
Paulson's $6 Billion Foot In The Door Play – HoweStreet.com
Paulson's $6 Billion Foot In The Door Play HoweStreet.com, Canada - 2 hours ago GMAC joins more than 190 regional banks, commercial lenders, insurers and credit-card issuers seeking funds from the Treasury’s bailout program for …
I’m So Far in Debt I Don’t Know What to Do – Gloria
Gloria wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form . I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty . If you would like to help me to help others, there are easy and free things you can do, click here to learn how you can help . “Dear Steve, I have gotten behind in mortgage vehicle and monthly payments. I have so many collection agencies contacting me that I don’t even know how far into debt I am. I have credit card debt that is above $10,000. My husband is laid off of work. I am being garnished . i just don’t know what to do anymore. the company I work for filed chapter 11 bankruptcy so don’t know from week to week if I will still have a job My question is: Is filing for bankruptcy my only recourse.? We don’t wanna lose our home and we need our vehicles to get to work Gloria” Dear Gloria, First, before we can make a plan we need to know what the reality of the situation really is. Only armed with the facts you can make good choices. I would suggest that you get a copy of your consolidated credit report to find out who and how much you really owe. I suspect that you’ll be surprised at how much you owe in total. But while that will be difficult to face, it will allow you to really come to terms about who and how much you really owe. I don’t want you to lose your home either but that isn’t really up to you and me. It is determined by your income. If you don’t make enough to pay the regular payments due, even bankruptcy won’t let you keep those items. If you’ve been garnished then this has been going on for a while now. This does not sound like a new situation but one that has been slowly deteriorating and now it is time to face it, once and for all, before it truly boxes you into a corner and leaves you unexpectedly homeless. Big hug. Steve Source: I’m So Far in Debt I Don’t Know What to Do – Gloria Other Related Articles to Read Shellie Had Cancer And Is Now Slowly Dying From Terminal Debt Kam Says “I Have Charged Off Debt In Collections And I’m Scared to Tell My Husband” Sohail Wants to Pay Off Old Debts to Improve His Credit What to Do if Your Creditors And Bill Collectors Make You Really Angry Complaints About Bill Collectors Rocket as Debt Collectors Get Tough