Archive for January, 2011

Life After Debt

By Oliver Dalrymple  Jan, 31, 2011  

Paying off your debt is kind of like vowing to lose 50 pounds and then reaching your goal. Ta-da! It’s the moment you’ve been waiting for, but when it arrives you might find yourself thinking “Now what?”

First of all, awesome job paying off what you owed. It takes dedication and planning to pay off debt, and many people struggle with it endlessly, unable to make it happen. But not you!

It’s a new chapter in your financial life. A chapter where you are debt-free and devoted to not slipping into debt again. It takes dedication to stay within your budget and to spend less than you make, so remember not to get too relaxed and let your finances slip.

You’re also going to need a new financial game plan. This information and budgeting worksheet can help.?? Without deb

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International Travel: How to Budget Wisely

By Oliver Dalrymple  Jan, 27, 2011  

Last month, I shared with you how to tackle airfare, which is the most expensive item in most itineraries. In my case, Vietnam and Thailand are really affordable—flights accounted for 80% of the final trip cost. With my visa, immunizations and plane tickets in tow, I could then figure out the rest. In fact, because my destination was so affordable and the US dollar went a long way, I had a new challenge: how to spend wisely so I got the most out of the trip.

Here’s some lessons on planning an itinerary so you’re satisfied at the end:

• Stick to what matters to you. Narrow down your general idea of the trip—from “outdoorsy,” “urban,” or “eco-friendly,” to specifics. In my case, I narrowe

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Free Credit Check: Online access to credit scores

By Jasmine Pinschof  Jan, 26, 2011  

Credit score helps lenders and banks to determine your credit worthiness. After checking your score and report, lenders make the final decision whether you deserve funds or not. In United Kingdom, before lending you cash, credit card or mobile phone companies perform credit check to determine individual’s score. Are you looking for free credit check? There are three leading credit bureaus or agencies in UK. These agencies can provide you complete report within 24 hours.

These agencies have right to perform free credit check once in a year. As a result, consumers get right to get free credit score once in four months. In case, you are looking for instant and free result, then nothing can beat internet. To get instant free credit score, you can logon to computer. S

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Another Way To Protect Your Income Tax Refund When You File Chapter 7 Bankruptcy

By Jasmine Pinschof  Jan, 24, 2011  

At this time of year, many people filing Chapter 7 bankruptcy lose their not-yet-received income tax refund to the bankruptcy trustee.

The generally applied rule here in eastern Oklahoma is that if a person files his income tax return, then files Chapter 7 bankruptcy before he receives his income tax refund, the Chapter 7 trustee will likely demand turn over of the refund (except for any portion due to the earned income credit) when the debtor receives it if the refund is of a significant amount (generally $1,500 or more).

This is why I always make sure that my clients who expect to receive an income tax refund know that they need to get their refund in hand and spend it on reasonable and necessary expenses before filing their bankruptcy case.

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Americans Still Owe Billions to Credit Cards

By Michael McConachy  Jan, 24, 2011  

ATLANTA (Source: Equifax) - While Americans continue to pay off debts and reduce spending, Equifax (NYSE:  EFX), one of the leading nationwide credit reporting agencies, finds many households still carry a heavy debt burden – in some cases owing up to 17 percent of their income to credit card companies alone.No one region of the country is shouldering the credit card debt burden – Equifax found the top 50 metropolitan statistical areas (MSAs) hardest hit by credit card debt, as a percentage of income owed in 2010, are clustered in six states across the country: Florida, North Carolina, Ohio, Texas, Washington and California.

These states also have some of the highest total credit card balances for the country:

Equifax reports that while total consumer debt (mortgage, auto, credit card, etc.) has declined 8.2 percent from its peak of $11.5 trillion in October of 2008, 54 million American households still owe more than $800 billion in debt to credit card companies alone – irrespective of other debts such as mortgages or students loans.

“The good news is we’re seeing Americans paying off their debts and becoming more fiscally fit,” says Dianne Bernez, Equifax’s senior vice president for corporate communications. “However, the

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15 Cool Ways to Cut Back

By Oliver Dalrymple  Jan, 20, 2011  

Whether you’re feeling the pinch or you just like to cut back where you can, I challenge you to try at least 3 of these money-saving ideas right now:

1. Get your coupon on. If you’ve never cut out a coupon in your life, this is your chance to see what they can save you. 2. Turn down the heat. No need to make it arctic; each degree you lower the thermostat will help. 3. DIY housecleaners. You’ll find cheap and easy recipes here. 4. Freecycle. It’s a great way to get stuff that you need. 5. Switch light bulbs. You’re not still going the old-fashioned route are you? Fluorescent bulbs use less energy and last longer. 6. Go generic.

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Tips on Renting A Room For Extra Income

By Oliver Dalrymple  Jan, 20, 2011  

With the economy as it is and the job market in a bit of a slump, people are doing whatever they can to save a few dollars or make a few extra. Ebay, Craigslist, and similar sites are doing very well as people try to sell their belongings and long-kept valuables that are now antiques or collectibles. Hard times usually bring about creative means to make ends meet or to supplement regular incomes. One avenue explored by many homeowners is renting a room in their home; either to a friend or oftentimes a stranger. This can be beneficial to both parties or it could be a disaster for either or both parties.

There are many things to be considered for both the homeowner and the renter in this situation.

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The Truth about Credit Repair

By Michael McConachy  Jan, 19, 2011  

(Source: NCPW)- People with poor credit histories often are targeted by companies that promise to clean up their credit reports so they’ll be able to qualify for a car loan, a mortgage, insurance, even a job. Just as often, these “credit repair” companies say they need a fee of a few hundred – sometimes, a few thousand – dollars before they can go to work on your behalf. The truth is that no one can get accurate negative information removed from your credit report. It’s illegal.When negative information in your report is accurate, only the passage of time can assure its removal. A consumer

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