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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
November 21, 2001 Issue 13
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

=> Your Comments

=> Thanksgiving Quiz

=> Giving Up Your Rights--Without Knowing It!

=> Car Salesmen: Here Come the Vultures!

=> Harassing Collection Calls

=> Cut Your Future Holiday Bills In Half

=> Happiness in Frugality

=> Review of "Living Within Your Means--The Easy Way"

=> 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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DEBTSMART EMAIL IS BROUGHT TO YOU BY THE FOLLOWING ADVERTISERS:

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COOL DEBT STATISTIC 
Source: Newsweek Article

In a 1977 survey, 27 percent of people said using credit cards was "bad" for consumers. By 2000, that number jumped to 51 percent, according to Fed research, and 41 percent agreed we'd all be better off if credit cards didn't exist.

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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

If you have a Capital One credit card I strongly urge you to read my article, "Giving Up Your Rights--Without Knowing It!"

I mentioned back in the 10/24/01 email newsletter that Craig Thor Kimmel, Esquire (lemon law attorney) would make himself available to answer questions and this edition features his first column, "Car Salesmen: Here Come the Vultures!" I asked the first question about how to deal with approaching car salesmen when you arrive at a dealership.

Interested in knowing more about Thanksgiving? Take our Thanksgiving quiz included in this email newsletter.

Speaking of quizzes, last newsletter we introduced our first, "General Credit Card Knowledge Quiz." So far, 54 people have taken the quiz with an average score of 64% on the 10 questions.

Here are the extremes: 96% of test takers got question #4 correct, "What is a secured credit card?" while 30% got #9, "Which of these is an example of a chargeback?"

The chargeback is very important because it gives us the power to police our credit card statements. When you discover a charge on your statement that you didn't authorize, you need to call the credit card bank so they can "chargeback" the merchant and credit your account.

In the last edition's survey we asked you how many credit cards you have, how many is too many, and what's your max. 60% of respondents reported having 1 to 3 credit cards, and 40% had from 4 to 10. 70% have available credit from 0$ to $20,000. Very interesting results...I thought those number would be much greater.

Thanks again for you wonderful comments about the email newsletter!

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Your Comments:

"Most of the websites who are allegedly there to help us with being debt-smart are ACTUALLY just trying to sell you something (such as yet ANOTHER credit card!). I have learned so much here at DebtSmart. You guys are the best!" --Pam

"I love the newsletter. It really has some good advice." -- Rebecca Newton

"Great Newsletter! The info is always timely and relevant to my credit situation, and I look forward to each issue. As to number of credit cards, in my count I've learned we have a total of 10, but most have not even been activated. Lately I've been an "intro-hopper", taking advantage of much-lower APRs, to get rid of CC debt(in 9/98 owed 29k, now owe 6.1k, so it won't be much longer). Snowballing, lowering APRs, transferring as credit score improves, all are working, and your advice always helps. Thanks!" --Dan E.

"I love it!!" --Anna

"I enjoy receiving your newsletter. It is always packed with useable, real-life information!" --Michelle Glanzer

"Love the newsletter, website and book. :-)"

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Thanksgiving Quiz

Thanksgiving is coming up fast. Check your knowledge of this favorite American holiday with our Thanksgiving Quiz!

Click on the link below to take the quiz:
http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?08&7428 

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Giving Up Your Rights--Without Knowing It! 
by Scott Bilker

If you have a Captial One credit card then I highly recommend you read this entire article!

I just received a letter from Captial One informing me that "enclosed is an important legal notice regarding arbitration" and I need to "read the entire notice to fully understand its implications" to my account.

This isn't the easiest reading by the way. It's a legal notice, written in legal language at the college graduate level. Quite different than the 6th-grade level credit offers they send me trying to get me to use my credit lines.

Here's an example from the arbitration letter: "The arbitration of any Claim must proceed on an individual basis, even if the Claim has been asserted in a court as a class action, private attorney general action or other representative of collective action."

Oh yeah, makes perfect sense to me.

Here's an example of the writing that's meant for me to easily understand (from a credit offer): "One of the attached Purchase Check...

Read the rest of this article by clicking on the below link: http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?15&7428 

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Car Salesmen: Here Come the Vultures! 
By Craig Thor Kimmel

Craig, Whenever I go shopping for a car, the salesmen are always on top of me like vultures! How do I handle the first contact with these salesmen so I don't look like an easy target? -- Scott

This is an excellent question. The overwhelming practice in the car sales business is for dealers to use different "programs" or tactics meant to control and manipulate the consumer from start to finish. Most of these focus on controlling people by asking question after question until you are weary, or disarming the consumer by appearing overly friendly and interested, or the dreaded tactic of subtly directing the consumers actions. For example, a customer who is approached by a salesman and finds himself following the salesman around the showroom or parking lot, usually at a fast pace, can consider himself under the influence of a program. It can be extremely subtle at first, but before you know it, Mr. Salesman has all the information about you he needs to separate you and your money!

The best suggestion I can make is to...

Read the rest of this article by clicking on the below link:
http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?09&7428 

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Harassing Collection Calls 
By Gary Foreman

Dear Dollar Stretcher, My husband and I have one credit card debt to the tune of about $3,500. I cancelled the account so we can't charge any more. We have been making payments of $100 every month, which is well below the minimum payments that the credit card company requests. They call nearly every day, most often more than once, hounding us for the rest of our minimum payment, which has reached in the neighborhood of $800 a month. Although we are not paying what they request every month, we are making a payment. Is there any way we can stop the phone calls? Are we breaking the law by not paying the entire minimum payment? We do plan on making a large payment when we can, but with 3 kids and one income, $800 is hard to come by. Thanks for any help. --Tina

Tina's not alone. In calendar 2000 the average U.S. credit card debt per household was $8,123 according to Cardfacts.com. The American Bankers Association indicates that 5.4% of credit card accounts were delinquent at the end of the year. Recent reports show that there was a surge in bank card delinquencies in the 2nd quarter of 2001. So a lot of people are falling behind in their payments and will be dealing with bill collectors. In fact, in 2000 the FTC received approximately 22,000 complaints about both 'in house' and 'third party' collectors.

To answer Tina's first question, yes, she can stop the collection calls. The Fair Debt Collection Practices Act prevents harassment by bill collectors. It is a federal law so it applies to all 50 states. Section 806 specifies that "a debt collector may not engage in repeated personal contacts with a consumer with such frequency as to harass him".

If Tina...

Read the rest of this article by clicking on the below link:
http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?10&7428 

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Cut Your Future Holiday Bills In Half
By Gregory Thomas

Most of us have a certain number of holidays that we celebrate each and every year. That means quite a number of extra "gifts" that will need to be purchased for family and friends.

In a bit, you will learn exactly when to get the best bargains on holiday merchandise, and how you can save quite a bit off your "gift" shopping bills.

Here's what happens...

Read the rest of this article by clicking on the below link:
http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?11&7428 

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Happiness in Frugality 
By Doris Dobkins

Are you speaking for real or is the title of this article an oxymoron? How could anyone be happy denying themselves all of life's pleasures and being frugal?

Take a moment to read the quote below:

"The three grand essentials of happiness are: something to do, someone to love, and something to hope for."

--Alexander Chalmers, Scottish writer

How does one tie happiness and frugality together? For me, the key to happiness in a life of constant frugality is...

Read the rest of this article by clicking on the below link:
http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?12&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:
http://www.debtsmart.com/cgi-pl/go/011121_en.cgi?06&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.