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DEBTSMART EMAIL NEWSLETTER - Tools for financial success!
A Free E-Mail Newsletter from DebtSmart Online and Press One Publishing.
ISSN 1538-6740
October 24, 2001 Issue 11
Scott Bilker, Editor and Publisher, mailto:publisher@debtsmart.com
Richard Crammer, Editor, mailto:editor@debtsmart.com
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For instructions to SUBSCRIBE, and DISCLAIMER, see bottom of this email.

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IN THIS ISSUE
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=> Advertisers

=> Cool Debt Statistic

=> DebtSmart Resources

=> Letter from the Publisher

=> Transfer Credit Card Balances

=> Mortgage Telemarketing--A Personal Story

=> Review of "Living Within Your Means", by Terry Rigg

=> Survey

=> Holiday Gift Giving Ideas

=> Inherited Debts?

=> Alice in Credit Card Land

=> Subscribe/Disclaimer Information
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We have done our best to ensure that all advertisers included in the DebtSmart Email Newsletter offer quality products and services. However, if you have any problems, please let us know by sending mailto:comments@debtsmart.com 

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LOVE OR HATE YOUR CREDIT CARDS?
Do your credit cards treat you like a king or a servant? Let the world know. Post your review at creditcardfreedom.com.
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EMAIL NEWSLETTER MARKETING! IT'S REAL, IT WORKS!
Are you looking for an effective way to reach people who are interested in your offers? If you have a product/service that is right for DebtSmart Readers, or just want to learn more, click the below link...
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COOL DEBT STATISTIC
Source: Kiplinger's Personal Finance, November 2001

Consumer Action, a nonprofit organization that surveys credit card issuers each year, found earlier this year that 69% of issuers jack up the rate--to as high as 29.99% in some cases- after just one late payment.

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DebtSmart Resources

How to advertise in the email newsletter:
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How to advertise in the online classifieds:
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DebtSmart Books, software, reports, in-print and downloads:
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Archive of DebtSmart Email Newsletters online:
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How to use DebtSmart articles FREE in your ezine or on your web site:
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Letter from the Publisher 
by Scott Bilker

As I started to write this letter to you I heard the following: "The terrorists thought they affected us but they only made this nation stronger."--George W. Bush, President of the United States of America, 10/17/01 2:59 PM ET

I know I haven't said much about what's happened...there just aren't any words that can express how I feel, I will say however, that I am very proud of our President and I am so thankful that he is our leader! As a martial artist I cannot think of a better situation than having a guy named "Walker" from Texas, being President at this time.

Next, I would like to thank everyone for their wonderful comments about the email newsletter!

Here are a few:

"It's sound advice"--Beth

"I love it! Keep up the good work! It comes at just the right time when I need a boost to keep working on our debt! Thanks."- Angela

"It's very educating and informative. I learned something as well!! Thank you!"--Lisa

"You are doing a great job."--José

"Love it! Keep up the good work."--Pam

"Very helpful and useful. Thank you!"--Christine

"GREAT!! VERY INFORMATIVE!"-- Randolph

"I LIKE THE NEWSLETTER AND THE INFO I RECIEVE FROM IT."-- Yvonne

"I love your newsletter, keep up the good work."-- Aimee

Financial Software Survey Results: 1) 77% of respondents said they used financial software. That's great! Using financial software is one of the best ways to get organized!

2) 70% of the respondents that use financial software use Quicken. No surprise--I personally think it's the best for entering transactions--I've tried a quite a few.

On October 15, 2001 I did another television show on CN8's "Real Life", hosted by Mary Amoroso. The topic was getting financially prepared in today's economic environment. Craig Kimmel, a lemon law attorney was also a guest on the show. Craig has offered to provide articles about consumer automobile issues. I'm looking forward to learning more about that topic!

You can see photos from the show by clicking below:
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Transfer Credit Card Balances 
by Scott Bilker

QUESTION:
My husband and I filed for bankruptcy in 1995. Since then we have established good payment records with high interest credit card companies. I'm ready to drop them and transfer my balances to a lower interest rate card(s). When I start looking on the net, I see introductory rates for first time applicants with good credit. I'm having a hard time finding cards with the transfer option.

I've had my existing accounts for several years (or more), plus we just bought a house, so I think we deserve better interest rates. I called my accounts personally, but they don't offer better rates, only a larger line of credit. I have enough credit already. --Penny

ANSWER:
First of all Penny I'd like that I agree, you do deserve a better rate!

As you may know, bankruptcy stays on your credit report for 10 years. That means that all the banks know that you've had problems in the past, but that's long ago at this point and I am sure there are banks that may be willing to give you a better deal.

The important issue now is how you've been handling your credit for the past few years. From what you said my feeling is that you've been doing a good job with paying on time. That being my assumption it's time for the banks to give you a better deal or you should take your business elsewhere!

So you've already called your current banks and they won't budge on the rates. Try this, call them back and explain it this way, "I've just received a transfer offer in the mail for 1.9% and I'm going to take it if you don't reduce my rate. I've been happy dealing with your bank but it's just getting too costly. I'd be willing to stay a customer, but I need some type of reduction in my rate or I'll just have to take my business to another bank."

If the first rep you get on the phone cannot help you then...

Click the below link to read the rest of the article:
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Mortgage Telemarketing--A Personal Story 
by José Olivares

Scott, first I would like to thank you for all the good advice you have given me through your NEWSLETTER. In response to your question about our (readers) experience with telemarketers, I would like to share an experience that happen to me recently.

I, like many others out there, am looking to refinance my first mortgage at a lower rate than what I currently have. In my case, the loan is approximately $120,000 at 7.25% and also a second mortgage (home-equity loan) of $10,000 that I have at 12.25%. I decided to call a financial institution after receiving one of those infamous "you have been pre-approved" offers.

I spoke with a lady, who was very friendly, and she asked me if I could read the confirmation number on the right-hand side at the top of the letter. I gave it to her and she asked for some other information including my Social Security number.

I explained that I would be interested in refinancing with her company if they can beat the rates on my current loans. She said she would call me back with an answer.

About an hour later, she calls and tells me she has "good news" for me. They can combine both loans at a great APR of 9.48%. Stunned by what this lady is telling me I paused and asked her...

Click the below link to read the rest of the article:
http://www.debtsmart.com/cgi-pl/go/011024_en.cgi?13&7428 

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"Living Within Your Means--The Easy Way", by Terry Rigg 
Review by Scott Bilker

We all know Terry. He's written many excellent and informative articles for DebtSmart. Now he's released a new online book, "Living Within Your Means--The Easy Way."

I personally found the online book packed with great information! Terry covers many topics with an easy-to-understand approach. Some of the numerous topics covered include: (1) Organizing Your Bills and Files, (2) Good Spending and Saving Habits (3) How to Deal with Debt, (4) What to do About Big Money Problems, plus whole lot more.

Terry includes worksheets, links to helpful web sites, and even how you can become a stay-at-home mom!

This online book is good and certainly well priced. In fact, we added it to the DebtSmart product catalog!

The online book is only $10.00 and, as a special offer to DebtSmart readers, you also receive the DebtSmart Loan Calculator FREE when you order Terry's book, that's a $20.00 value for only $10.00! BE SURE TO USE OFFER CODE 432 to get this special offer.

Click below to read more about Terry's book:
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Survey

We've all been told to try to return to our lives and get on with our business. It's very difficult. I wonder how the events of September 11, 2001 are going to affect this upcoming holiday season. All the experts says the economy is going to take a pounding but I'd like to ask you about how you're going to spend this season.

Please take the survey at:
http://www.debtsmart.com/cgi-pl/go/011024_en.cgi?15&7428 

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Holiday Gift Giving Ideas 
by Gregory Thomas

It's that time of year again, time for traveling, decorating, holiday parties, family, friends, relatives and of course. . . . shopping.

How many of you simply whip out the credit card and start charging every gift you can find, only to dread the day when your statement arrives in the mail?

Or are you one of the few that save a little every month just to cover the holiday expenses when they come around? Before you spend your money on the latest, hottest, newest gadgets, take a look at...

Click the below link to read the rest of the article:
http://www.debtsmart.com/cgi-pl/go/011024_en.cgi?16&7428 

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Inherited Debts?
by Gary Foreman

Dear Dollar Stretcher, I've heard that when parents are in debt and they die the debts are left to the children to pay off. Is this true? My parents had gotten a divorce a few years ago. My mom is doing well because she is a saving queen. My dad had remarried two years ago. His wife does not work but loves to spend money. So now they have a $20,000 debt. If my father dies, his wife is responsible for the debt, right? What happens after she dies and there is still that debt? Also, what happens if she dies first, and then my father- who gets the debt? --Judy

Judy asks a question that comes up often. Can someone die and 'leave' their debts to you? The answer is...

Click the below link to read the rest of the article:
http://www.debtsmart.com/cgi-pl/go/011024_en.cgi?17&7428 

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Alice in Credit Card Land 
by Dr. Sam Vaknin

Your credit card is stolen. You place a phone call to the number provided in your tourist guide or in the local daily press. You provide your details and you cancel your card. You block it. In a few minutes, it should be transferred to the stop-list available to the authorization centres worldwide. From that moment on, no thief will be able to fraudulently use your card. You can sigh in relief. The danger is over.

But is it?

It is definitely not. To understand why, we should first review...

Click the below link to read the rest of the article:
http://www.debtsmart.com/cgi-pl/go/011024_en.cgi?18&7428 

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HOW TO SUBSCRIBE TO THIS NEWSLETTER

TO SUBSCRIBE to this newsletter click on the below link and complete the subscription form:
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Please contact mailto:comments@debtsmart.com with any comments, problems, or concerns.

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The author(s), Press One Publishing, and DebtSmart.com shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this email newsletter and/or at the DebtSmart.com web site. The information, methods and techniques described may not work for you and no recommendation is made to follow the same course of action. Every effort has been made verify the accuracy of all content contained herein. However, there may be mistakes; typographical, mathematical or in content. This email newsletter and the DebtSmart.com web site have been created for your entertainment only. You must always seek the proper professional advice before taking any financial or legal action. You have been warned.

Copyright (c) 2001 Press One Publishing. All rights reserved. Please do not reprint, or host on your Web site, without explicit permission. However, if you found this newsletter helpful, we grant you permission, and strongly encourage you, to e-mail it to a business associate or a friend. Thank you.