Wow! It's been an incredibly fast year! I didn't even have time to write
about New Year's Resolutions. I guess my resolution will be to make some
resolutions next year. :)
What a historic year! (I guess you can say that about any year.) President
Bush won the election, Janet Jackson's "wardrobe failure," Iraq,
Michael Jackson, and the list goes on. The list is just as big on the financial
front. Dow Jones is up, interest rates are moving higher, home values still on
the rise, credit card banks raising their fees, and so on.
I do wish you, and your family, well this holiday season and hope that you
reach all your dreams in 2005.
Have a wonderful holiday and happy New Year!
Best Always,
Scott
PS: This will be the last issue for 2004. Next issue will arrive 1/12/05.
Stealing from people of faith
by Scott Bilker
Click-click-clicking through the channels...hmmm, what's on TV tonight?
Look at this, B.E.T. is running a show about God with Pastor Robert Tilton. He is
a fairly convincing speaker like many of his televangelist cohorts, but what's
his message? You may think it is the same message as the majority of these
charismatic "shepherds" however, this guy caught my attention when he
said to call for his free booklet titled, How to Pay Your Bills
Supernaturally.
Wow! I'd certainly like to pay my bills "supernaturally." Who
wouldn't? But how can this happen? Will I twitch my nose like Samantha from
Bewitched? Will I ask my wife to blink like Jeanie or, maybe some more current
supernatural assistance from the gals of Charmed?
No matter the theories, I just had to get this booklet, and I did. The first
thing I noticed...
Just got your books and was inspired to call my major credit card to ask for
a reduction in APR. The current rate is variable 12.74%; with a $10000 balance
that's costing more than $100 per month in interest. They reduced that rate to
9.9% with no discussion. (Not great, but better than it was.) Then I asked about
the 19.74% rate on cash advances. That balance is only about $500, but the rate
seems unnecessarily high. That one they refused to reduce.
But here's where I really benefited from having read your book: In talking
about that rate, the account supervisor told me they will wire cash advances to
my bank account for only 2.99% APR. They will provide as much as $10K per month.
So, I could reduce the 19.74% rate to 2.99% rate by having the money wired to my
bank and then writing a check to pay off the entire balance! (I have enough
credit available on the card.) Amazing--they told me how to save money.
So, I just wanted to say that I feel I've already gotten my $19.95 worth from
your books.
Here's my next step: The card, which dropped its rate for me is a frequent
flyer miles card (that's why I use it). They just charged me the annual $59
"membership" fee. I am going to ask them to refund the fee. I have a
2.99% transfer offer for another card, which I never use (so it has no balance).
I'm going to tell them I will transfer the balance from the "miles"
card to the 2.99% offer-card unless they drop the fee. After they drop the fee,
I might transfer anyway!
SURVEY RESULTS: More money for the holiday
by Scott Bilker
Hey, we all wouldn't mind having more money! Many people are doing extra
things this holiday season to earn more money. From working overtime to selling
stuff online, it seems there's always a need for more cash this time of year.
DebtSmart Readers responded to last issue's survey with their own strategies
for making some extra money. These impressive suggestions for earning more are
truly motivating as well as being quite effective.
Each week I receive dozens of emails from people being hounded by debt
collectors. These collectors are horrible! They can harass, threaten, and embarrass
their victims without regard for the law. There have been many articles posted at
DebtSmart by those attacked by these evil hounds.
Yes, that's strong language and I am sure that the "good" debt
collectors (if there is such a thing) are going to send me hate mail in about 10
minutes, but the truth is that the majority of these "folks" don't
care at all about your situation. They're out to suck as much cash from you as
possible.
In the past I've advised people of the techniques needed to deal with debt
collectors however, a comprehensive information package has been created that I
can recommend that will help--for sure!
It's been written by best-selling author, Gerri
Detweiler, attorney John
Ventura, and Mary Reed, personal finance author. Not only is this aimed at Stopping
Debt Collectors Cold but they also include four other great reports: How
to Get Collection Accounts Off Your Credit Report, How to Avoid Losing Your Home
In A Foreclosure, What to Do if You Are Behind on Your Car Payments, and
Confidential Interview With A Former Debt Collector.
I highly recommend that you take a look at this information so you're
prepared to effectively deal with debt collectors!
"CardRatings.com has been offering ratings of credit cards since 1998
and has been featured by Good Morning America, The Wall Street Journal, Consumer
Reports®, NPR, PBS, etc. Thanks to consumers like you, CardRatings.com has
become the most comprehensive free source for comparing credit card
offers."
Helping you with your debt is very important to me personally! If you've been
reading my articles, you know that I always encourage self-help as a first step.
However, being buried in debt can be very overwhelming, which is why you may
want to explore other options.
One of those options is professional, ongoing help with credit counselors.
I've started to personally check out certain companies so I can recommend the
ones that are worth considering!
If you would like to speak with a representative from a...
Credit Card Protection Insurance--Should You Get It?
by Rebecca Lindsey
A brand new year always starts off with new possibilities and opportunities.
For many, a new year offers a fresh start, and thousands will make a New Year's
resolution to get their financial matters more organized.
When sorting through various files regarding credit cards, many people may
happen upon information regarding credit insurance. In fact, many people may be
paying for this insurance and not even realize that they have it. Not a good
idea—fees can sometimes be as high as $25 to $30 a month.
What is credit insurance?
In a time when credit card debt is at an all-time high—up to $500 billion
last year—many people turn to...
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 to 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.
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highly recommend it."--Gerri
Detweiler, radio host and
author of The
Ultimate Credit Handbook
