From time to time, I've included articles about
debt collectors at DebtSmart and in the email newsletter. And it's very
predictable who replies to the surveys in the negative-guess who? Yes, the debt
collectors themselves. They write to me and say that I'm not being fair to their
industry. That "they" (debt collectors) are good and that
it's the "deadbeats" who are the problem.
The reality is that there is so much evidence of
their abuse to consumers, as an industry, that I cannot say that there are any
good ones out there. The Washington Post ran a big
article at the end of last month outlining this industry's abuses.
Here are just a few:
1) Attempts to collect debts from deceased relatives
2) Calls at work with threats of job loss
3) Threats of jail time
4) Threats of violence
5) Improper bank withdraws
The bottom line is that if you're contacted by a
debt-collector, make sure they follow the law! If they don't then SUE THEM!
My recommendation for dealing with debt
collectors is to get a hold of Gerri Detweiler, John Ventura, and Mary Reed's Stopping
Debt Collectors Cold package. I highly recommend that you take a
look at this information so you're prepared to effectively deal with debt
collectors!
Final note: ATTENTION MORTGAGE BROKERS
If you can write mortgages nationally then I may have a unique advertising
opportunity for you! To find out more, please complete
this form and I'll get back to you with the details.
10 Reasons You Should Hate Your Credit Card Bank!
by Scott Bilker
Buying a house forces you into debt, going to
college forces you into debt, buying a car forces you into debt, if you don't
have a credit card then you don't exist because you don't have a credit history.
We just can't win.
And when you finally get some debt, the credit
card banks are right there to take advantage of us! I've had enough--I'm sure
you have too.
1. CRAZY HIGH-INTEREST RATES
Believe it or not my
friend recently received a credit card offer through the mail with a starting
interest rate of 35%. I can do better with almost any loan shark! Oh yeah, that
bank IS a loan shark--depending on your definition of "is."
"Your articles are easy to read and follow,
although they contain a lot of detail. You have a talent for being able to tell
people complicated things without making them seem stupid, or the goal
unattainable. I think most of us are financially lazy--we would rather keep on
in our rut than change--but then along come articles like yours that shock us
into motion. I love the links to other articles and sites. I also love the
calculation tables.
I have subscribed to your newsletter and used
your site for many months now. I find you to be "on the cutting edge"
when it comes to financial matters--I always end up pushing myself to do
something more when I have read your articles."
Household Math™: Cheaper Gas vs. Full-Service
by Scott Bilker
Jenny lives 30 miles from where she works. Her
car gets 22 miles per gallon. Jenny works 5 days a week, every week in the
year--no holidays or vacations; that hurts! Last year she added up how much she
spent for gas, which totaled $885.65. She likes to get gas at the full-service
gas station for convenience, but this comes at a cost of 5 cents more per
gallon. If she bought all her gas for the year at the lower-priced gas station,
how much would she save in one year?
Featured Credit Cards Can Save You Money Now!
by Scott Bilker
Your
best defense against any one bank is to have credit options--to be able to
transfer your balance to a lower rate. That's your only real power against high
fees. That's how to be DebtSmart®! Make the banks fight for your business! Be
sure to add this web page to your favorites list so you can keep applying for
new credit when you need it. Which credit card is right for you? Select from the
list below and apply online right now!
How to save money on your phone service within minutes!
by Scott Bilker
For a limited time, I'm going to throw in a free
download of my DebtSmart Loan Calculator ($9.95 value) when you sign up for
this prepaid phone service. Both the calculator and the phone service are
worthwhile or they wouldn't be here. I personally wrote the calculator software
and stand behind it.
I always use everything I recommend to make sure that it's good! Ready for
this...their claims are 100% true! Great service! Great price! I signed up for
$25 and got the free minutes. So the total time I received was 1,578 minutes!
That's 1.58 cents per minute!
The online reporting was instant and accurate! This is all I'm going to be
using for a while. If you let them know what numbers your calling from, and call
their local access number, you get the lowest rate and you only have to enter
the PIN to make the call. It's easy to use, cheap as can be, clean connection,
organized online, and simple. Works just like you would want and expect!
My phone service is getting me for 10 cents per minute for in-state calling
and 7 cents per minute for long distance! What a rip! I can't believe I've been
overlooking this big potential savings. I'm going to easily cut my phone bill by
two-thirds! I figure that I'll save $1,000 per year with this new service.
10 Reasons to Love Your Credit Card Bank
by Scott Bilker
Call me an extremist. A few issues ago I wrote to
you with 10 Reasons You Should Hate Your Credit Card Bank. In this issue I will
point out the other side. Boy, the banks are going to love me for this; too bad
they won't be sending me a check!
Love 'em, hate 'em, it's the same old story.
Credit cards themselves are not bad. There are advantages and disadvantages.
This time I want to take a look at some of those advantages...
1. Access to money
By being able to use your credit card you can actually save money! Here's an
example from my personal life. My dentist gives a 5% discount if you pay at the
time of service. Because I can pay with my credit card I get the 5%. Even if I
paid interest on this amount, at 10% APR I can still take 6 months to pay it
back and break even!
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...
"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."
Credit Card Binding Arbitration: When Ignorance Isn't Bliss
by Rebecca Lindsey
Few people want to go to court, but there are
times when it is necessary to preserve your rights and to fight unfair or
illegal treatment. Watch out for mandatory arbitration clauses in your credit
card agreements, which can prevent you from having your day in court.
Over the years, the phrase "read the fine
print" has become more important than ever. It's a battle cry-and sage
advice-used by consumer advocates that is well worth heeding, particularly when
it comes to credit cards.
As you read through your credit card terms and
conditions, beyond the usual definitions of rates, late fees, annual charges,
etc., you'll find some interesting things and probably learn some new phrases:
such as universal default clause and binding or mandatory arbitration.
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.
Subscribe FREE and start
finding new ways to save
money and pay off your debt.
"The DebtSmart Email
Newsletter is packed with
cutting-edge strategies for
solving credit problems. I
highly recommend it."--Gerri
Detweiler, radio host and
author of The
Ultimate Credit Handbook
