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Free Content Library |
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Negotiation persistence saves $21,000 (595 Words)
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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Student and credit cards (613 Words)
by Scott Bilker
Scott, I'm so lost! I'm about to obtain my first credit card, and I do not know where to start or even how many to take out. What deal is the best? Do I look at the APR or the nice rewards they have? I'm just trying to establish a good credit history, because I am aware that you need one if you want to eventually buy a house/car. Thanks so much for your help. Meri
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My spouse doesn't agree! (584 Words)
by Scott Bilker
Scott, I have debts that have different interest rates: 9 percent, 10 percent, 28 percent and 29 percent. I want to consolidate my debt at 16 percent interest rate. But my spouse doesn't agree! William
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Second mortgage rate and APR (510 Words)
by Scott Bilker
Scott, Why is it a different price for the quoted loan interest rate, my mortgage company Quicken Loans, quoted me 6.55 on a second. Then when I get the papers to sign, the APR fair credit paper states 7.1 for the interest rate. Is the mortgage company trying to be dishonest and not really give me the rate quoted? I don't understand; please help me. Thank you! Pam
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Cutting Up Credit Cards (371 Words)
by Scott Bilker
Hello, My wife and I have a lot of credit cards. WE would like to cut them up so we don't use them. Should we notify the company's first to cancel them? We are having trouble paying them. Thanks for your help. Richie
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Equity Issues (430 Words)
by Scott Bilker
Scott, Problem is, our 2nd mortgage is a LOC and the APR is drowning us! We want to pay off the LOC and our credit card debt and have some cash to invest in renovations. We are a single income family and as far as debt to income ratio is concerned, we're not looking so good. What to do? Alison
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I am horrified--they want to know what I am going to do with the money! (559 Words)
by Scott Bilker
Dear Scott, I play the zero percent game every year and never ran into this one. Yesterday I did a balance transfer at zero percent to pay down my house. They gave me $20,000, which I will pay back in a year. I was horrified that they asked me what I was going to do with the money. Why all of a sudden do they want to know what I am doing with the money? Greg
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Pickup Payments (589 Words)
by Scott Bilker
Mr. Bilker, I really enjoy reading your newsletter and have gotten several good tips from it. My problem is that I have a 2000 dodge pickup on which I owe about $13,000 on and it is only worth around $9,000. I am about halfway through a five-year loan and am paying $524.00 a month. I married recently and am having a baby soon so I need to find a way to either get rid of this pickup or lower the payments. What would you recommend? Any advice would be appreciated. Thank you. Tracy
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Thanks! And A Question About FICO Scores (638 Words)
by Scott Bilker
Hi, Scott, FICO scores seem like the king of the credit world, and the scoring system is so secret and counterintuitive that it's frightening to me to make ANY changes with my credit card "portfolio". I'm eager to pursue more of your advice, but am terrified of damaging my credit score (which is in the low-mid 700's)....Thanks again! Love your stuff. Judd
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Calling banks for my 82-year-old mother (261 Words)
by Scott Bilker
Scott, I help my 82-year-old mother pay many of her credit card bills. She's scared to call the credit card companies and I don't want to be added as an authorized user or they will show up on my credit report. Is there a service that she can give a power of attorney to that will call the credit card companies on her behalf? Currently, she is NOT past due on any credit cards--but that will change if we can't reduce these interest rates. Thanks! Brian
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