Paying Up

Hi fellow consumers:

Credit is a danagerous tool to have but it can benefit you.  In these trying times, credit has proven to be a great benefit when you subscribe for new services.  Most of the services like phone service, internet, water services, electric service etc. use your credit history to determine the amount of deposit or installation fee they charge a subscriber.  This is a good thing because I have saved money on my services. There has been as little as no deposit to as much as a couple hundred dollars. This break is helpful after you have spent several hundred dollars relocating.

On the other hand, consumers must wise-up and become familiar with consumer rights.  Many of these services have become very innovative in there fees.  These companies have so much latitude that the fees never stop coming (equipment rental fee, equipment insurance, processing fee , HD etc.).  Many fees are hidden behind the discounts.  Companies advertise strip-down low service prices to make a package seem attactive to a consumer.  If subscribe to a service, the subscriber usually come away spending more money than was budgeted for a service.  Don’t get pushed above your financial limit. 

Remember, many of these services have a long term contract attached. Many contracts are going from 12 months to 24 months.  The companies method of entrapping you is to offer you a multitude of products before they let you hang up.  If you are an impulse spender, its you they are searching for. Do your part!

This uncontrol practice will continue upward and consumer salaries will follow slowly.  Our new president has his hand full trying to slow down this run away economic train. The president stress that the people must do their part.  The consumers part is to control their spending.  The consumer confidence is what is needed but continuing out of control spending will make the previous stimulus ineffective.   

~The Debt Survivor~     

Hi consumers:
How is your economic spending plan working out?  There is a lot to think about. Statistics say that consumers are spending less.  The ones that are spending less are old school.  The new generation or the young people have not missed a beat.  

Don’t get caught up in trying to save money that you forget to keep your eyes on your credit record.  You should check your credit record at lease twice a year.  You should understand that information is actively entering and being removed from your credit history.  If you have not checked your credit history this year  now is a good time.

Get one free report from all three agencies at www.annualcreditreport.com so take advantage because you paid for it.  When you find incorrect information be sure to dispute/correct it.  Many people are being tricked into buying a montoring service.  Spending seventy or more dollars a year on this service is a waste of good money.  Stay alert because today anything can happen before you know it.  Be smart.

~The Debt Survivor~  

Hi guys,
2009 is a dangerous year.  Everyone better be careful with the money.  Every deal is not a good deal.  All the ads and commercials are designed to make you spend money you don’t have.

Banks are still increasing their rates this year and next year.  Try not to lock yourself into longterm deals. Lookout for the cancellations fees.  All wireless connection are not mean’t for you if you are trying to save money. Be aware that businesses don’t tell you everything so be sure to ask the most important question. 

Example is: what additional equipment or service do I need to purchase?  Is there a monthly rental fee for the HD equipment? Be dollar wise and make the best in these days.

~Debt Survivor~

Hello American Citizens:
You should be receiving your W2 witholding Form very soon if you don’t have it yet.  Many of you can’t wait to run to the tax preparer (H R Block etc.). Many of you have spent your expected refund.  Before you do something stupid and useless you need to step back and look at your debt situation and your income. Now is a good time to make a budget and stick with it through the rough times.

It is time to file your taxes. Some of you can’t wait to get to the tax filing office.  You can start by investigating your tax preparer.  Some of these companies are offering RAL or loans based on your returns.  If you don’t get back as much in refund as antisipated you have to pay the money back with high interest. Click on this link http://www.nclc.org/issues/seniors_initiative/information.shtml and download the brochure “Don’t Pay to borrow your own money”.  This brochure is in the pdf format. 

Time is getting hard, money is getting tight; people are losing jobs; others are receiving unemployment, and debt collectors are getting business.  Do yourself a favor and take notice because recession is here and will stay for a while. Bob Bee, advicing you to set yourself free of all the stress.

~Debt Survivor~     

Happy New Year!
We have made 15 days into a year where there is sure to be rough sailing ahead. There is very much in the economic pot until if we pick one topic the other issue seems to be more important. 

Surely, we can’t forget the bills we just made for christmas. Though sells was down last year this year could be worst if something don’t start happening quickly to turn around this economic mess.  Many people have lost there job and unemployment is worst than ever with over 7 percent unemployment.  Fear is hubbering all over this country but spending money is still top of the list.

Top of importance issues is tax season 2008.  Many people will use the tax refund to erease the christmas purchases.  You should be receiving your W2 forms next week.  Be wise with this opportunity use the refund to get control of some of those bills you been pushing aside.  File your taxes early. IRS wants you to send in your returns early because there is not much to work with in February and March.  Take advantage of this time. Oh! some of you can save 35 to 50 dollars if you complete the returns yourself.  Just read the instruction.

More home foreclosures are ahead, 2.6 million in florida alone.  Homeowners take the time to call around and ask some questions. You may be able to shake this bug.  If you act early, an attorney maybe able to get you a TRO (Temporary Restraining Order).  Call HUD this a good resource for free advice.  Talk to one of its counselors and get referrals and honest guidance.  When we get desperate, we open our self up to be victumized.  The commericals sound extremely tempting.  Many people will be taken advantage of.

Your credit history is important year around.  Get a copy of your credit report and check you credit history.  It is easy to get your free credit report http://www.annualcreditreport.com. You may call the bureau it only take ten minues per call.  In this economic recession many thieves are seeking way to steal your Identity.   Don’t be sorry you did not heed my advice.  Once someone steal your identity it will take you six months to one year to put it back in order.  Don’t put yourself in double jeopardy.  Here to wishing you prosperity in the year 2009.

~Debt Survivor~
Bob Bee

 

Tis the season to be jolly then comes the new year and the struggle with those debts.  The good part of the new year for some people is the tax refund.  However, the tax refund will not be there for six months.  In the mean time, can you meet those payment?

Well this should not be an issue, after all you got a lot in return.  Debt never goes away regardless of what you do because we all have to live in this world.  The most important issue is how you handle your debt.  Have you over-extended your self?  Did you use cash or credit?  

If you use cash, you have to replenish your stash.  If you use credit, you have to worry about paying the money back with interest.  What remains to be seen is how much of the cut in interest will be passed down to the consumers.  The banks interest rate is less than one percent therefore banks can drop there lending rates a lot to get your business (fifteen or more points).  

Will this happen - probably not?  Consumers are in control of the economy now.  Will the desire to spend money continue or will the consumer say give me better service?  We are now entering into year 2009.  Will this be a good year for you?  You may need to make a budget and stick to it for a while.  Times are about to change and you need to be aware of your habits. Remember, you have a lot of fixed debt (rent, car note, insurance, etc).  

Bob Bee reccommends looking at your varible debts (groceries, electricity, clothing, gas, etc.) and cut back on those expenses. Avoid getting into any new unnecessary debt.  You will find a lot of good deals in the coming year so donot be hasty to rush into every tempting deal you find.  Compare each deal with what your budget can stand. Survive the time and survive your debt next year.     

~The Debt Survivor~

Happy Holiday to all and to all a Happy New Year:

Lenders all over America are encouraging people to use credit cards.  There is several sides to this marketing ploy. I will try to stay on the topic Companies popping up all over the place promising to clear bad credit from your credit history for good.

Our country has gone poly-corrupt it may be possible to work a deal to remove credit information..  Only desperate individuals really fall in this trap.  Only time can remove incorrect or bad history from your credit reports. There is no secret to removing bad information. You can do it yourself.

First, all three major Credit Bureaus are authorities of and for the Federal Government.  The bureaus must follow their rules.  Consumers credit get bad when other companies report unpaid debt to the bureaus.  This information is required by LAW to remain on your record for at lease seven years.

This information changes daily. Think about this.  Only you know if the information in your credit history is correct. The company reporting this information has to be reached before the report is made to the credit bureau or afterwards.  Then someone would have to pay them to write the credit bureau to report that the information is incorrect.  You are the only one who can dispute the information in your credit history.

Then, the Federal Law requires the credit bureau to investigate your dispute within 30 business days.  Once the investigation is made the bureau must confirm or deny the information.  There are many more regulations the bureau must follow this is the main consumer  protection law.  Visit  the  FTC   http://www.ftc.gov and get the facts. If credit counseling is what you need visit the national consumer law information site: http://www.consumerlaw.org/issues/credit_counseling/index.shtml and use your time and money wisely.

Don’t get in over your head.  You can use the money you pay the credit repair company and pay your own debt.  You can also direct deposit money to let the bank pay your bills for you. Don’t get caught up in a sting or give away money you can use to pay your debt.  Nothing is free.  Trust me.

~Bob Bee~ 
 

Do you plan to consolidate your bills? Is that what is best for you?  How do you know?  Debt consolidation sounds great.  You should always give this method much thought.  Some loans are secured and others are non secured.

This means you should not consilidate the two types of loans.  Under our system of relief some loans can not be dismissed. The law will wipe out the non secured loans when you filed for bankruptcy.  Bankruptcy is our process of relief.  Lenders don’t like the word bankruptcy but businesses use bankruptcy when their debt overwhelms them.  This method  is also for the everyday consumer. 

Once upon a time I thought bankruptcy was a bad word.  Aggressive lenders do anything  to collect their money.  Some people are too proud to file bankruptcy.  There is the CHAPTER 13 & CHAPTER 7.
Neither is favorable to the lender. CHAPTER 13 GIVES YOU MORE TIMES TO PAY OFF YOUR DEBT.  CHAPTER 7, CLEARS ARE DISMISS MOST IF NOT ALL OF YOUR UNSECURE LOANS.

Bankruptcy should be your last resource. Because lenders fround on bankrupcy.  However if you pay your bills on time for two years, some lender is willing to take the chance.  Your Interest rate may prove to be higher than normal.  Don’t be to hasty but survive debt.

~ The Debt Survivor ~