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TOP STORIES
for Tuesday, January 6, 2009
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Debt smart credit card rules adopted by federal regulators
by Scott Bilker
I can't believe it! It appears that we consumers have received a major holiday gift this season.Government regulators adopted sweeping new rules for the credit card industry. Finally, rules that protect consumers! This is certainly a time for celebration, because it's the first time in decades that consumers have received protection from some of the most terrible practices of these banks. I am excited, however, these rules don't go into effect until July 2010. My only fear is that the banks will figure out a way to get around these changes by that time.
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Household Math™: Timing Is Everything
by Scott Bilker
Out-of-pocket cost versus payment timing; what is the effect? Here are three $2,000 loans that are paid off in exactly one year: (1) payments of $180 per month for 12 months; (2) eleven monthly payments of $100 and a final payment of $1,060; (3) monthly payments one through five are $100, the 6th payment is $1,060, and the remaining monthly payments are $100. Which loan is best (i.e. has the lowest interest rate)?
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Negotiation persistence saves $21,000
by Scott Bilker
Amy originally contacted me to let me know about her success in general. We corresponded a few times regarding her latest negotiation with her bank. She already was doing well, so I asked her to let me know what happens--and she did! I must say that I am very impressed by her success and want to share it with everyone at DebtSmart.com so all can see what is possible when you are persistent! Congratulations Amy and thank you for allowing me to share this with everyone!
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Fraud Alerts and Fraud Freezes
by Andy Jolls
An alert places a statement on your credit report so that if a fraudster attempts to obtain credit in your name, the creditor, in checking your credit, will encounter a statement that says something to this effect: “I may be a victim of fraud. Call me at my phone number before extending credit.” By calling you, the creditor ensures more security.
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Organize Your Children and Save Your Sanity
by Gregory Thomas
It may be difficult to relate saving money with organization but the two terms really go hand in hand. If you are able to organize right down to the smallest detail, then not only will you save yourself countless panic headaches, but you will have more time on your hands allowing yourself to be more productive and get more accomplished.
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Paying off debt is hard work
by Scott Bilker
Scott, Your advice on several topics lately has been about moving around debt to produce the lowest APR or the most savings to consumers. However, it does not cover anything about the hard work of actually paying off the debt. The point of this website should be to pay of your debt and not just pushing it around from one account to another. Joseph
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"We the people..." of Debt
(by IOUSA The Movie)
Wake up, America! We're on the brink of a financial meltdown. I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens.
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Household Math™: Coupon Shopping
(by Scott Bilker)
Which orange juice is the best deal? That is, which has the best price per unit volume? Hint: there are 128 fluid ounces in one gallon.
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Credit Card and Debt Statistics Database
(by Scott Bilker)
Do you want to know the average credit card debt for families? Want to learn who has the most credit cards and how many? Find the numbers, and the sources, for credit and debt! The most complete online database of credit card and debt statatisics.
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Rate jacked-up to 21.99 percent
(by Scott Bilker)
Last week my Bank of America American Express card took a major rate increase. I had a fixed 7.99% rate which I enjoyed for two years.
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You Cannot Afford To Say, "I Can't Afford It"
(by Michael Angier)
Every week I get emails from people thanking me for all the great stuff we send their way. But many of them also apologize for not buying some of our other products or the products and services we very selectively recommend to them.
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Ending the Paperwork Nightmare
(by Maria Gracia)
With all of the paperwork flowing into our lives day after day, it's easy for it to get out-of-control.
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How to profit from cash-back credit cards
(by Curtis Arnold)
A little extra cash in your pocket sounds wonderful, doesn't it? Maybe you could use it for a nice dinner out on your birthday, a movie night out with that special someone, a rainy-day shopping spree, college savings for you or your child, or even a way to help pay down your debt.
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Big Money Problems
(by Terry Rigg)
Are you scared, worried, unsure of what to do, frustrated, embarrassed and humiliated because you can't pay your bills and put food on the table?
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" |
Life will pay
whatever price you ask of it."
--Anthony Robbins |
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This
week's featured author |
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