Paying Up

Are you trying to purchase a car? Land? furniture? or home? No down payment once mean’t an opportunity to acquire something you wanted badly. Credit did not play a major issue in the price you pay or the interest rate you were charged. 

No down payment is just another way to get more money out of you. The real story behind no down payment is more money is financed. If you don’t have good credit, you are given a high interest rate. This rate is charged for a longer period of time or you pay a larger monthly amount.  At car dealers they require that you pay weekly or several times a month. In the end you pay two to three times what the property’s sale price.

The opportunity cost is too high and the transaction reflects a bad light on your credit for at lease seven years if you don’t pay the loan off. When you make a down payment you are financing a smaller amount. In fact if you can’t put a payment down, your budget maynot be able to handle the extra expense. If you can wait and do some looking around, you can find a better deal. How do you avoid this trap?

~The Debt Survivor~ 

Hi Citizens of America:  Gas prices are coming down are you happy.  Have you started changing  spending habits yet. The worst is yet to come. Is your credit bad or fair? Have you checked your credit file this year? Its time to check it again.

If your credit is bad you are prehaps running from the debt collector. Have you thought about debt settlement companies?  Their promises sound tempting, yes.  They promise to lower your interest rate or even eliminate it altogether. Can they really do that? They only bank your money in an account until they think youraccount can be settled. They may encourage to set up a special account yourself.

These companies are For - Profit companies. There are many agencies out there trying to make money off of desperate consumers having debt problems. They make claims that they can make your credit go away like magic.  These claims are geared to make you buy an expensive product it is selling and you will often get further in debt.

The road to financial recovery takes time and paying your debts.  I can verify this. Sometimes problems come out of left field. Do you know what to do? Reduce your stress and let a debt survivor work with you. Let us know what’s on your mind. Find more important advice and financial facts at http://www.debtsurvivor.org.