Credit Card Debt Reduction Strategy

Credit Card Debt Reduction Strategy - A Simple 3 Step Mantra
By Gary Worthington

Sometimes, you know things are quite uncontrollable. Einstein was once asked by someone as to what according to him was the greatest force. And in his humor, he had replied, Compound Interest. Now that is precisely what hinders, and to a great extent pulls you down in your attempts to formulate and execute any credit card debt reduction strategy that you think is your "damnedest best"!

No, I do not mean to sound like that, but the thing most people do not understand about debt reduction solution is that your efforts to reduce the credit card debt or pay them off is seriously devastated by interest on your balance. If you don't know how to proceed exactly, you will find yourself deep in debt - even if you had tried very hard to divorce your credit card!

One of the main reasons people don't succeed in paying off credit card debt is inconsistency and impatience. Aside from that, in many cases, I've found that people are not especially calculative about their debt reduction strategy. Here's a plan that works wonders when you follow it seriously...

I call it the 3E formula. Estimate, Enumerate And Execute.

1. ESTIMATE
Number one thing you need to do before you actually start - and if you wish to have a great start - is to estimate the total debt, the APR or the EAR (rates of interests), and other such trivial and important details. That is the first and best part of any debt reduction strategy or plan. Once you estimate and understand your position, you will know how long you need to be patient and put-in the effort.

Remember, no debt is non-eliminateable - if that word exists. You can eliminate every debt, but by constant efforts. Estimate.

2. ENUMERATE
This is a number game. Supposing there's an amount of balance that seems frightening, we tend to move away from it - and in the process, do not pay up at least (and even) a part of it. What happens then is that as Einstein said, compound interest increases the balance and in the end, you have got a terrifying amount. If the initial balance was frightening, this one was terrorizing!

What you need to do here, is to find out an approximate percentage of the balance - say about 3-8% - and pay that every month. That way, you decrease the balance for which the interest is calculated and thereby, the percentage of amount you pay also decreases! And by the end of an year or so, who knows? You might just become a debt-free man or woman!
Enumerate!

3. EXECUTE
This is where most of the credit card debt services tend to lose their reputation. Psychologists say, you need to be motivated bluntly to get you started in the actual process of "credit card debt pay off". I do not completely agree with them, but I think sometimes they are wiser. So, here I am, forcing you plainly, screaming in your face bluntly, GO AND DO IT.

Start your game today, and you will be debt-free soon. Think about doing it tomorrow, and you are lost. Which do you wish to be? A Winner or A Loser?

Gary is a debt-management freak - who loves to help people solve their debt-problems. He is so "freaky" that he has a personal blog on paying off credit card debt where he frequently rants about credit card debt reduction strategies. Visit his blog to know more about credit card debt pay off.

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Getting Rich - Two Strategies for Wealth That Work!

Getting Rich - Two Strategies for Entrepreneurial Wealth That Work
By Lynnelle Bianco

Everyone wants to be rich. By that I mean we all want to live the lifestyle we want without worrying about finances, whether that means working at something we love or not having to “work” at all.

Because the lifestyle you want might be different from the lifestyle I want or the next person’s, what rich means to you, me and the next person differs. Therefore your strategy will be different from mine, theirs, etc. That being said, there are really only two basic tactics for growing wealth. Most of us entrepreneurs, especially those of us “knowledge” entrepreneurs, use a combination of both of them.

The Savings and Investment Strategy This strategy is pretty simple. You make money and you save and invest as much as you can.

One way to think about it is to mentally divide the money you make – before paying any expenses - into three piles.

The first pile is is the largest and is for living expenses. This pile is about 75 to 80% of your income. You then need to live within your means. Yes, you can.

The second pile is for savings. This is 20 to 25% of your income until you build up long term savings equal to six months of living expenses. Yes, you can. Yes, this will take a while, but as entrepreneurs it’s critical to have that cushion for unexpected market or personal “bumps”. Then allow yourself a short-term savings stash. This money is for vacations, gifts and other things you can plan for.

After you have the 2nd pile full, the 20 to 25% (or more - as much as you can put away) of income goes into the third pile which is for investments. Income from investments stays in the investment fund; out-of-sight / out-of-mind.

The hardest part of the Savings and Investment Strategy for most people isn’t lack of cash flow – it’s lack of discipline. Yes, it's hard to save a huge chunk of your income. Few wealthy people will tell you it was fast and painless. The next time you hear yourself saying "just this once" or “it’s only $xxx” stop yourself and think, “Will this make me wealthy?”

The Product-ize Strategy Most of us knowledge professionals sell services and we have to show up to make money. We can make good money, but we have to show up to do it. There is a limit to the number of hours we can put in and the number of clients we can physically see in a day. The product-ize strategy finds ways to create income streams that don't require us to show up.

Here's how one entrepreneur used this strategy. She made most of her income doing leadership training and coaching, primarily for small banks. She started developing information products for the people and organizations she trained. Therefore, her training was also her market research.

She now sells all kinds of products; a partial list includes books, e-books, forms, slide sets, training outlines, workbooks and reminder products. These were sold through various outlets but primarily online. Most of the income from sales of these information products and from licenses to reproduce these comes in whether she works or not.

The most difficult things about the Product-ize Strategy are:

1. Setting aside time to develop the products, and
2. Doing the separate work of marketing them.

We're already so busy with our service business that it's difficult to set aside time and learning the additional expertise to pursue this strategy. But guess what this requires as well? Discipline. Funny how that word keeps popping up. Action Steps

• If you're not saving regularly, take some time this week to analyze your current expenses and set aside something to save. Start with any amount. Getting started is the important thing. Discipline to continue and increase that amount is key.
• If you're already saving, find one way to increase the amount you put in investments.
• Based on your expertise, think about how you can “product-ize” your expertise. Decide on one information product that you can develop for your market.
• Produce an Action Plan - including specific tasks and dates for completion - for producing that product.

Lynnelle Bianco is owner of Bold Vision Consulting, a business coaching and growth consulting firm. She runs coaching programs and peer groups that help business owners, entrepreneurs and professionals become better leaders and build bigger, more profitable businesses. Contact Lynnelle at http://www.BoldVisionConsulting.com or call 207-221-3492.

Lynnelle brings over 20 years of professional, corporate and retail working experience to clients. Having held senior positions in marketing, new business development and client service for global institutions — as well as owning and operating her own small businesses — Lynnelle brings real-world experience and forward looking perspectives to helping today’s professionals and business owners achieve breakthrough success. …and remember; Be BOLD! Success starts with a vision.

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Think Like An Entrepreneur!

Think Like an Entrepreneur!
By Gary Ryan Blair

There was a time when being the biggest, most experienced corporate
kid on the block guaranteed success and dominance. However, in the
new economy, organizations that lack the commitment and capacity
for leveraging size and experience strategically will see these
attributes as vices instead of virtues.

The new economy will require an entrepreneurial mindset. Competition
will come from anywhere at anytime. Technology will empower smaller, nimbler competitors dramatically.

The days of sitting back, waiting, and depending on corporate size and reputation to attract business are effectively over.

To be clear—the relationship between size and entrepreneurial
behavior doesn't have to be an inverse one. People like Bill Gates
have already demonstrated convincingly that huge companies like
Microsoft can be as proactive and aggressive as the most
entrepreneurial start-up. In fact, entrepreneurial behavior can no
longer be the exclusive preserve of just the young start-up.

Everybody has to get in on the act!

Entrepreneurship is a bit like dieting: Everybody's in favor of it in
principle, but only a few have the intestinal fortitude to do what it
takes to reap the rewards.

In my view, the major source of the problem is cultural and is rooted in our fear of failure.

The new economy calls for a far more entrepreneurial corporate
culture, one where experimentation, risk taking, and even failure are
not only tolerated, but also actually celebrated. After all the only
real alternative to experimentation and risk is decay and decline.
The essence of risk is the possibility of failure.

Honor your errors. To advance requires a new frame. But the process
of going outside the conventional method is indistinguishable from
error.

Evolution can be thought of as systematic error management.

Scratch a successful entrepreneur and what you'll find is someone who failed a time or two or... get the idea?

The emerging rigors of the new economy leave us little choice. We
must experiment, and experimentation carries with it the near
certainty of at least occasional failure. In a truly entrepreneurial
culture, failure tends to be regarded as a learning opportunity, a
necessary pre-condition to eventual success. The status quo is simply
not a viable option any longer. You can stand still if you like, but
your competition certainly won't.

One other critical point about entrepreneurs. They are above all men
and women of action! Entrepreneurs instinctively understand the
importance of real-world experimentation, trial and error, and speed.
Experimentation, feedback, failure, learning, adjustment,
action—that's what successful entrepreneurship is all about.

Entrepreneurship, like innovation, is a profoundly relative concept.
At its core, it implies a willingness to risk challenging
conventional wisdom and prevailing approaches.

A company may employ you, but you work for yourself! Two defining
qualities of an entrepreneur are an appetite for risk and a strong
bias towards action. For many years, business conditions operated
strongly against the entrepreneur.

Size, stability, and industry experience were the only commodities recognized as having value in the business world; without them you could forget about making an impact. That's changing.

The business landscape of the new economy will be more hospitable to the entrepreneur than any we've seen before. The volatility and unpredictability of global competition have completely devalued most existing corporate currencies and virtues.

What good is size if your organization is too slow and muscle bound
to capitalize on new, fast-moving opportunities? What use is lengthy
industry experience if your most ferocious competitor is likely to
come at you from out of an entirely different sector? What's the
point of conducting exhaustive market surveys if the market changes
so fast they're obsolete before you've analyzed them?

Under these kinds of conditions, what counts is the willingness and
ability to take risks, get real-life feedback and react quickly. In
short, the ability to be entrepreneurial.

As a genuine entrepreneur, either inside an organization or
independent of one, you should prove to be ideally adapted to the
evolving imperatives of the new competitive environment.

Emboldened by its competitive dynamics and liberated by new
technologies, entrepreneurs will build not only bridges to the new economy but castles on the other shore!

Everything Counts!

Gary Ryan Blair is President of The GoalsGuy. A visionary and gifted conceptual thinker, Gary is highly regarded as a speaker, consultant, strategic planner, and coach to leading companies throughout the globe.

He helps business owners, corporate executives and sales professionals manage their time, set their priorities, and stay focused so they can achieve their goals, grow their business, and sustain a lasting competitive advantage. Learn more at http://www.personalstrategicplan.com

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6 Tips To Becoming A Millionaire Thinker

Six Tips to Instantly Master Your Finances by Becoming a Millionaire-Thinker
By Melanie Strick

What’s the fastest route from where you are today to your ideal financial status? Becoming a “millionaire-thinker”. Now you may think this means you have to be a millionaire – you don’t! The truth is many people don’t aspire to that level of financial success – and there is nothing wrong with that.

But what does happen is entrepreneurs often feel stuck, confused and held-back from the level of wealth and freedom they deeply desire. And they turn to my coaching team to break through that barrier. What if just a few little shifts in your thinking could cause you to start creating the freedom you’ve always dreamed of?

I’m going to share with you six tips to help you transform your “stinkin-thinkin” into “millionaire-thinking” but first, we need to address three common issues that come up for every entrepreneur I know.

“Your money zone is equal to your comfort zone.”

One of the laws of wealth is that you must be willing to stretch, take risks and be bold in your vision to make the big bucks. Why? Because doing what you have always done will get you what you’ve always got. Need I say more? Yes? Ok, let me share with you a personal a-ha …

My biggest personal breakthrough in the wealth game was when I first sat down and projected my revenue. I had envisioned having an income of $200,000 the next year and when I looked at how many hours I could feasibly work, plus how much I was charging per client (back then it was $400/month), I was exasperated! I would have to coach at least 40 people each month to make my goal. That just wasn’t realistic for me. To reach my financial goals, I had to stretch beyond my comfort zone and play REALLY big. By being willing to stretch and grow, I found myself creating programs like my Business Accelerator Mastermind Program, live workshops and the ULTIMATE Wealth & Success Circle.

Going beyond my comfort zone also positioned me to help my clients in new ways so that they can catapult forward faster too. In other words, everybody wins.

“You attract the amount of wealth that your ‘container’ can hold.”

Many people walk around with damaging beliefs about money. “I’m not good enough,” “Money causes greed,” or my personal favorite, “I’m not good with money.” Hence, your money container becomes a very small espresso cup. Or worse yet, some people are like a sieve (a container with lots of holes in it.) Your money container must be big enough and a complete whole to allow massive wealth to flow in it or else it just spills out.

“Easy come, easy go.”

Unfortunately many people lose their first big money windfall because of poor accounting, broken work flow systems or lack of proper money management knowledge. When the money is there but the foundation isn’t it will just as easily leave your bank accounts.

This week I just coached one of my clients around this very issue – a broken system caused them to miss their insurance renewal and lapsed their Corporate filings and the government shut them down. Talk about a financial mastery wake up call.

Financial mastery is crucial to achieving the dream of wealth, success and freedom.

Here are six tips to align your mindset, your habits and your behaviors NOW with financial mastery.

Surround yourself with others who have it (or are getting it.) There is a saying that the money you have is the average of the five people you spend the most time with. That’s because you adapt to their thinking, their beliefs and their attitudes. Wealth breeds wealth. If you want millionaire results, start hanging out with people who have it or are creating it.

Spend it. No, I don’t mean go into debt. I mean begin to vision how you will put your wealth to work for you. How will you invest in your business? How will you give back to charities or through tithing? What rewards will you create for yourself, your family and your world? Being crystal clear about this step will make creating wealth mean something much bigger than just making money – it aligns wealth building with your values.

Conquer your inner money demons. If you have lingering issues with money, then you must resolve them in order to truly create freedom. I highly recommend doing the inner work to know that you deserve money. This is one of the areas we address for the members of The ULTIMATE Wealth & Success Circle.

Think bigger than big. Napoleon Hill states in Think and Grow Rich that great leaders became great because they developed the faculty of creative imagination. When you tap into your true creativity, big ideas, plans and goals will intuitively come to you. Be willing to play bigger (and more focused) than you ever dreamed of.

Have a system to manage it. Wealth thrives with order. Having proper systems such as a good accountant and bookkeeper, proper business structure (LLC or Corporation), and software such as QuickBooks can make a big difference as a millionaire. Can you imagine having all that money and not knowing where it is going? Yikes!

Be a millionaire-thinker now. What if you just started thinking and behaving like a millionaire would RIGHT NOW? Millionaires make decisions, focus their time and enjoy a lifestyle that supports their success. Start acting as-if you are a millionaire thinker now and attract more of that kind of success instantly. I know it works because I’ve done it.

Whether it is your dream to be a millionaire or not, I encourage you to adapt to the “millionaire-thinking” mentality. You will notice instantly that people begin to respond to you differently, that you attract into your life significant results, and people will want to know you because you will emanate success. Have fun with it – because hey, that’s what it is all about anyway!

About the Coach:

Melanie Benson Strick, The Entrepreneur’s Success Coach, teaches entrepreneurs how to stop feeling overwhelmed so they can create more money, more freedom and more prestige.

If you’re ready to stop working in your business and start working on your business, go to http://www.virtualteambuildingsecrets.com to learn the secret to growing your company to a six and seven-figure success without employees or a 90-hour work week!

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Wealth Building Tips

Wealth Building- Formula to Wealth
By Luke Blaise

There are lots of formulas to wealth. Just by looking in the newspaper or magazines we see that there are lots of ways that people have gotten rich. If you recognize what these people did and how they did it you can find your own formula to wealth.

For the average American their formula for wealth is to save money and budget, which is one of the worst ways to get wealthy. For most people, they will never get truly wealthy in their lifetimes.

In order to get wealthy, look at the newspapers and magazines. Are the wealthy people featured in these articles rich because they saved and budgeted their way there? Probably not, they got their wealth by creating, and that is what you need to do is create.

By creating extra income through a business or other cash generating machine you are able to quickly increase your net worth. This is the way to get wealthy.

So is there a perfect wealth formula out there? The wealthy are not hiding any secret to becoming wealthy; there is no perfect wealth formula. If there is any secret to becoming wealthy is that it is to take action, and lots of it.

Look around you, you probably know people who are wealthier than you, but who you consider not as intelligent as you are. So how did these people become wealthy? Through action.

Start today, by picking out a business that you can do part-time on the side that will allow you to start generating extra cash.

Let's get rich together: Fierce Personal Finance

Its not crowded at the top, climb over the masses.

Visit my money making blog.

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Sell Your Structured Settlements

Sell Your Structured Settlements - Why, When and How!
By Hunt Robert

With a structured settlement, you do not simply get money at a regular interval to cover your basic living costs and other expenses like medical costs; you also have the option to sell the right at any point of time to get a lump sum amount to meet up sudden needs.

At the same time, you can also settle for periodic payment options to cover occasional costs like education, marriage if you have other means to support you in regular life. In reality, a structured settlement offers you enough flexibility to plan your income depending on your financial conditions.

To add to this, the amount you receive on a regular interval is completely free of federal or state tax. Whereas if you had taken a lump sum amount and invested them otherwise to earn a monthly income, you would have ended up in paying a big part of your earning as tax. For the last comment, we assume that the concerned person have invested the amount wisely.
These are reasons enough that people in general love to get a secured structured settlement instead of a onetime lump sum amount.

Nevertheless, here comes the crux – why, when and how do you sell your settlement in an urgent need! Say, you settled with your company for a monthly coverage option but all of a sudden, you got yourself deep in soup and needed some liquid cash urgently.
What would you do if you do not have any other option to support yourself with a lump sum amount! If this is not enough, you may find some people who sell their settlement to get lump sum amount to start their own business or to build their portfolio.
If there is no option left, you can sell the right of your structured settlement and Government allows you the provision to do so.

Many companies purchase the structured settlement rights at a discount price. The amount you can get depends on your attorney’s negotiation skills and market reputation of your previous employer and other conditions. Often the settlement purchaser demand for a higher discount rate not only to cover all the risks involved in the process but also to draw a bigger profit margin.
There is a common misconception that you must sell all the annuities at one go. However, here you have all the flexibilities to sell your annuities partially and thus you can sell only as much as needed to overcome the immediate expenditure. The rest can be left, as it is, to cover your regular expenditure.
The first thing you need to do is to hire a professional financial advisor and/or an attorney to get the best

deal for you. An attorney can guide you further through the legal procedures like court oversight, consumer protection statutes and legal approvals for selling structured settlements.

Robert W. Hunt is a financial advisor by profession. For more
information on structured settlements, he recommends you to visit http://www.structuredsettlements.bz

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Start Building Your Savings

Where To Start With Building Savings
By Jennifer Tannehill

When I began getting my finances in order, I couldn't wait to get started but I was perplexed. Where should I start? Some experts say, "Pay yourself first" meaning retirement, some say get your debt paid down, while other suggested beginning with an emergency fund. And, those are just the top three, there are many other schools of thought. I asked around. No one agreed on any one method. I read Suze Orman's new book Women and Money. It was a great book, but it could not answer this question to my satisfaction.

I did a lot of research on the net and I came up with my own plan. Here are the steps and my reason for putting them in the order that I did.

1. Start a small emergency fund. I will start by paying the minimums on my credit cards until I have socked away around $500 to $1000. I think this is the best first step because without some free flowing cash I will have no choice but to use plastic if I have any unexpected expenses. I am limiting it to just $1000 at most because I figure that would cover an ER visit, a replacement appliance, or car problems. I just hope I don't ever have all three at once!

2. Begin paying off the credit card debt. One note here, if you are already paying into retirement keep doing so unless you are not able to pay off your existing debt. In paying off debt, almost everyone agrees- you must pay more than the minimum balance due on your cards. However, there are two methods to choose from. The first is to pay off the card with the highest interest rate first. This makes sense because that is the one that will end up costing the most in finance charges. But, if you are anything like me, you like to see progress. Another way to go is to throw the most money at your smallest debt first. That way you see $0 balances sooner giving you a little pick-me-up on the long road to debt repayment. Whichever you choose, pay the minimums on all but the card you are trying to pay down first. Put more money toward that card, but once it is paid off keep putting the same amount toward your debt. In other words, if I am paying $200 on my high rate card and I pay it off, I am to put that money toward the next card. Then repeat the same process until all the debt is paid.

3. SAVE. It is a good rule of thumb to have several months of income saved up in the event that you are laid off, become ill, or cannot work for one reason or another. At this point you can start putting more money into your emergency fund. Once you have that built up, begin saving for retirement if you are not already doing so. How you choose to save is up to you. Step three really requires its own article. Briefly, if you get an employer match on your 401K at work fund it to get the full match, hey, that is FREE money. If you don't get a match or once you have funded up to the match, try to max out an IRA. The type and amount you can invest depend on your income and your age respectively.

I hope this has given you a starting point in getting your finances in order. When I began looking I just wanted a simple plan to follow. I ended up having to make my own. Try it, tweak it, but do something. The worst mistake you can make is to do nothing. Know that no matter where you begin, taking small steps toward dealing with debt and saving will eventually turn into a change for the good.

Jennifer Tannehill maintains a personal finance blog at http://picturewealth.blogspot.com
Please check it out!

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Vehicles, Debt Consolidation Eating Up Personal Loans

Vehicles, Debt Consolidation Eating up Personal Loans
By Erika Anaya

You cannot always buy everything out of your limited income. You need to set out your preferences and plan accordingly. This is perhaps the best way to get more out of your limited budget.

A recent research says from Alliance & Leicester says that nearly 37 per cent of personal loans are taken out to help Brits buy a vehicle. Actually, this is also beneficial for the customers to seek personal loans for buying a vehicle as the finance deals offered at most of the car showrooms are too expensive to help the customers.

The research also shows that the second-biggest reason to take out personal loans was to allow for consolidation of debts. With 34 per cent of the loans used for this purpose and other 20 per cent to carry out home improvements, personal loans are surely helping Brits fulfill their small dreams.

personal loans are basically unsecured and do not require your home as collateral. It means that even tenants can take out such loans. Brits are quite used to taking out these loans and using them for varying purposes. The usage also include cosmetic surgery, payment of tax liability, funding of shopping expenses, holidaying, wedding expenditure, purchasing an engagement ring, etc.

Brits are very much cautious of their physical appearances. With technology and finance both available, many of them are deciding in favour of cosmetic surgery. Some popular reasons to go under the knife include shaping up the body parts, removal of extra flab, anti-wrinkle treatment, facelifts, rhinoplasty, etc. Taking out loans for meeting regular shopping expenses is another thing that Brits are very much used to doing.

The UK financial market is providing many attractive offers to the borrowers. You can rely on options like credit cards, store cards, personal loans, etc. You should first evaluate your financial requirements and then choose the type of loan that is suitable for your circumstances.

The author is a business writer specializing in finance and credit products and has written authoritative articles about Personal loans,
, unsecured loans , Secured loans. He has done his masters in business administration and is currently assisting Go4UKLoans as a finance specialist.

For more information please visit: http://www.go4ukloans.co.uk/

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Debt Relief for College Students 101

Debt Relief For College Students 101
By Kristi Patrice Carter

Debt is a huge problem. Most of the time, you will hear about debt associated with middle aged couples and families, however, many college students are in debt as well. College students today can be even as far as 20 thousand, 30 thousand, or 40 thousand dollars in debt. The problem is actually a lot worse for students. Every credit card company in the world wants to send 'student credit cards' out. Students who need things on a daily basis often just go and use one of their credit cards without even thinking about the bill and interest adding up. Another problem is, money can be kind of scarce for most college students, so paying the bills isn't always that easy.

The problem is becoming huge as college students are forced to put off more school because they have incurred too much debt. As a matter of fact, they have been pushed into taking jobs they normally wouldn't have taken because of the debt, put off buying a house, or getting married and having children because of the money they owe. This is without mentioning the worry they have frequently about their debt.

Finding a good debt relief program for students is a great idea. Debt relief programs will help students do several different things. Gathering all of their debt is important, as they will be able to track their debt, and establish a plan for paying it off. Making sure that all of the companies they owe are getting paid something will reduce the risk that their debt will be turned over to a collection agency, and then if still unpaid, go against their credit. Most likely, the debt will all be wrapped neatly into one monthly bill. This will give the student peace of mind, knowing that they pay one bill and all of their debt is taken care of for that month.

Another good thing about debt relief programs is that the bill the students will pay will be smaller than all of their original bills would have been. This is helpful as it will free up more money for the student to be able to use on other things that (s)he needs, such as books, food, gasoline, etc.

When student debt relief programs help students establish a payoff plan, the student has a clear view of what they're paying, how long they will be paying on the debt for, and when the debt will be paid off. This will help them be able to plan their actual lives better. They will have a clear understanding of what they can plan for, what they can budget with and this well help ease their mind as well. Debt relief programs will work with the student and see them through until the debt is paid off. This is immense help for someone who is trying to stay on the right track to getting their life on the right track and establishing good credit for themselves.

If you’re currently drowning in debt and are seeking a way out http://www.debtreliefarticles.info can help! Learn proven tips and tricks to become more prosperous and take control of your financial health. Visit http://www.debtreliefarticles.info today!

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Identity Theft

Identity Theft Vicitms - Immediate Steps
By Jason Louis

If you are a victim of identity theft, take the following four steps as soon as possible, and keep a record with the details of your conversations and copies of all correspondence.

1. PLACE A FRAUD ALERT ON YOUR CREDIT REPORTS, AND REVIEW YOUR CREDIT REPORTS.

Fraud alerts can help prevent an identity thief from opening any more accounts in your name. Contact the toll-free fraud number of any of the three consumer reporting companies below to place a fraud alert on your credit report. You only need to contact one of the three companies to place an alert. The company you call is required to contact the other two, which will place an alert on their versions of your report, too.

- Equifax: 1-800-525-6285; www.equifax.com; P.O. Box 740241, Atlanta, GA 30374-0241

- Experian: 1-888-EXPERIAN (397-3742) ; www.experian.com; P.O. Box 9532, Allen TX 75013

- TransUnion: 1-800-680-7289; www.transunion.com; Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790

Once you place the fraud alert in your file, you're entitled to order free copies of your credit reports, and, if you ask, only the last four digits of your SSN will appear on our credit reports.

Once you get your credit reports, review them carefully. Look for inquiries from companies you haven't contacted, accounts you didn't open, and debts on your accounts that you can't explain. Check that information like your SSN, address(es), name or initials, and employers are correct. If you find fraudulant or inaccurate information, get it removed. Continue to check your credit reports periodically , especially for the first year after you discover the identity theft, to make sure no new fraudulent activity has occurred.

2. CLOSE THE ACCOUNTS THAT YOU KNOW, OR BELIEVE, HAVE BEEN TAMPERED WITH OR OPENED FRAUDULENTLY.

Call and speak to someone in the security or fraud department of each company. Follow up in writing, and include copies (NOT originals) of supporting documents. It's important to notify credit card companies and banks in writing. Send you letters by certified mail, return receipt requested, so you can document what the company received and when. Keep a file of your correspondence and enclosures.

When you open new accounts, use new Personal Identification Numbers (PINs) and passwords. Avoid using easily available information like your mother's maiden name, your birth date, the last four digits of your SSN or your phone number, or a series of consecutive numbers.

If the identity thief has made charges or debits on your accounts, or on fraudulently opened accounts, ask the company for the forms to dispute those transactions:

- For charges and debits on existing accounts, ask the representative to send you the company's fraud dispute forms. Write to the company at the address given for "billing inquiries," NOT the address for sending payments.

- For new unauthorized accounts, ask if the company accepts the ID Theft Affidavit. If not , ask the representative to send you the company's fraud dispute forms.

If the company already has reported these accounts or debts on your credit report, dispute this fraudulant information.

Once you have resolved your identity theft dispute with the company, ask for a letter stating that the company has closed the disputed accounts and has discharged the fraudulent debts. This letteris your best proof if errors relating to this account reappear on your credit report or you are contacted again about the fraudulent debt.

3. FILE A REPORT WITH YOUR LOCAL POLICE OR THE POLICE IN THE COMMUNITY WHERE THE IDENTITY THEFT TOOK PLACE.

Then , get a copy of the police report or at the very least, the number or the report. It can help you deal with creditors who need proof of the crime. If the police are reluctant to take your report, ask to file a "Miscellaneous Incidents" report, or try another jurisdiction, like your state police. You also can check with your state Attorney General's office to find out if state law requires the police to take reports for identity theft. Check the Blue Pages of your telephone directory for the phone number or check www.naag.org for a list of state Attorneys General.

4. FILE A COMPLAINT WITH THE FEDERAL TRADE COMMISSION.

By sharing your identity theft complaint with the FTC, you will provide important information that can help law enforcement officials across the nation track down identity thieves and stop them. The FTC can refer victims' complaints to other government agencies and companies for further action, as well as investigate companies for violations of laws the agency enforces.

You can file a complaint online at www.consumer.gov/idtheft. If you don't have internet access, call the FTC's Identity Theft Hotline, toll-free: 1-877-IDTHEFT (433-4338); TTY: 1-866-653-4261; or write : Identity Theft Clearinghouse, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington, DC 20580.

Be sure to call the Hotline to update your complaint if you have any additional information or problems.

THE IDENTITY THEFT REPORT
An identity theft report may have two parts:

Part One is a copy of a report filed with a local, state, or federal law enforcement agency, like your local police department, your State Attorney General, the FBI, the U.S. Secret Service, the FTC, and the U.S. Postal Inspection Service. There is no federal law requiring a federal law requiring a federal agency to take a report about identity theft; however, some state laws require local police departments to take reports. When you file a report, provide as much information as you can about the crime, including anything you know about the dates of the identity theft, the fraudulent accounts opened , and the alleged identity thief.

Note: Knowingly submitting false information could subject you to criminal prosecution for perjury.

Part Two of an identity theft report depends on the policies of the consumer reporting company and the information provider (the business that sent the information to the consumer reporting company). That is, they may ask you to provide information or documentation in addition to that included in the law enforcement report which is reasonably intended to verify your identity theft. They must make their request within 15 days of receiving your law enforcement report, or, if you already obtained an extended fraud alert on your credit report, the date you submit your request to the credit reporting company for information blocking. The consumer reporting company and information provider then have 15 more days to work with you to make sure your identity theft report contains everything they need. They are entitled to take five days to review any information you give them. For example, if you give them information 11 days after they request it , they do not have to make a final decision until 16 days after they asked you for that information. If you give them any information after the 15-day deadline, they can reject your identity theft report as incomplete; you will have to resubmit your identity theft report with the correct information.

You may find that most federal and state agencies, and some local police departments, offer only "automated" reports - a report that does not require a face to face meeting with a law enforcement officer. Automated reports may be submitted online, or by telephone or mail. If you have a choice, do not use and automated report. The reason? It's more difficult for the consumer reporting company or information provider to verify the information. Unless you are asking a consumer reporting company to place an extended fraud alert on your credit report, you probably will have to provide additional information or documentation when you use an automated report.

Hopefully this article has provided you with some useful information. You can learn more about identity theft by visiting my blog at http://identitytheftissues.blogspot.com/

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Debt Consolidation on Student Loans

Essential Information On Student Debt Consolidation
By Mary Wise

Consolidating Federal Student Loans

Federal student debt consolidation is usually done through another federal student loan. This new loan combines the outstanding loans into a single loan and locks the interest rate. The benefits you can obtain by means of this type of consolidation are significant as all these loans are subsidized which implies low rates. If the rate is locked, this implies that you will have the same monthly installments for the rest of the repayment program while your income may improve.

Private Student Debt Consolidation

Private student debt consolidation is also done through a debt consolidation loan. However, this new loan will be a private loan. Though most of these loans are also subsidized, the interest rate charged may be higher than that of federal loans for students.

As to the requirements for approval, provided that you are up to date with the payments there won’t be a problem with approval as you are already showing that you can repay debt with higher monthly payments. However, if you have defaulted on a loan or have late or missed payments, you’ll have more difficulties during the qualification process.

Consolidating PLUS Loans

PLUS loans are awarded to parents and thus, these loans need to be consolidated separately from the loans awarded to students.

However, it is possible to consolidate them jointly if both co-sign the same consolidation loan.

However, this is not a common solution as the nature of the debts is different too and thus it is not always advisable to consolidate both debts simultaneously.
Nevertheless, it can be done and sometimes, either the parents or the graduated student, choose to consolidate through a home equity loan and unify all student debt and consumer debt into a single loan.

Joint Consolidation of Federal Loans And Private Student Loans

This is a particularly complicated issue. Private student loans can not be included in federal consolidation loans due to obvious reasons.

However, federal student loans can be included in private consolidation without difficulties.

However, is it advisable to do so? Generally, No. This is due to the fact that federal loans are subsidized loans and carry low interest rates while only some private student loans are subsidized and even those which are still charge a higher rate than federal loans. Thus, by consolidating, you would be turning an otherwise cheap debt into a more expensive one.

Higher Debt, Lower Payments

Of course, if what you need is to bring some ease to your financial life and would benefit from lower payments, private student debt consolidation offers better chances of getting longer repayment programs and thus, lower installments so your debt becomes more affordable.

Mary Wise, a professional consultant at Badcreditloanservices.com with twenty years in the financial field, prevents consumers from falling into the hands of fraudulent lenders.
In her website you will find more useful tips and interesting financial articles on this and many other related topics.

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Bankruptcy IS NOT The End

Guidelines For Buying Things After Bankruptcy Proceedings
By Wade Robins

There are special guidelines you need to follow when filing for bankruptcy. There are also things to remember about buying things after a bankruptcy. Can you get a loan? Can you Can you get a credit card? The answer is simple, do you want to get back into debt after getting out.

After bankruptcy, you may find it a little harder to obtain a loan or a mortgage, but it can be done. Many bad credit programs pop up everywhere and make it easier for people who had the unfortunate bankruptcy filings on their credit report to obtain financing for a loan or a mortgage, even a credit card.

More companies want to help people with bad credit obtain car or home loans and offer many different types of loans for this specific reason. Many people who want to purchase a car or a mortgage will want to check into the many different options. One reason people become qualified is that people cannot file for bankruptcy again for at least seven years after the first filing. This is all part of the guidelines for bankruptcy that you receive when you file.

Before trying to buy anything after a bankruptcy, you should work on building your credit score and watch any credit card balances to make sure that your total debt is not over fifty percent of your income. By adding positive credit history to your credit report helps to raise your credit score. You can apply for a credit card even if it is small as three hundred dollars for the limit, use it, and pay it off many times. This builds positive credit.

Knowing what creditors look for when giving out credit helps you prepare for obtaining credit. You might need to talk to creditors or a credit repair counselor to see what you might do to help your chances of getting a loan. Every lender has a different standard when it comes to dealing with people with poor credit reports and scores.

Two things you can count on them wanting are a down payment and income verification, but also they want you to wait at least two years after bankruptcy to apply for a loan. Of course, you need to make all payments you have for anything, on time, including your repayment plan.

If you need a down payment, you can borrow from family or friends or try a program for assistance for receiving a down payment. You might obtain a grant from these organizations and use that towards your down payment. Another way to obtain a down payment is by borrowing from your 401K plan as a way to provide you with a down payment.

You can also find more info on Chapter 11 Bankruptcy and Personal Bankruptcy. Filingpersonalbankruptcyhelp.com is a comprehensive resource to get help in Bankruptcy.

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