COOL QUOTE " The large print giveth, and the small print taketh away." --Tom Waits, singer-songwriter Quotes from all previous newsletters IN THIS ISSUE #131 Letter from the publisher Cool Quote Cheapest pre-paid phone rates Lower your credit-card APR right now! More credit card and debt statistics Blue Cash® for Business Credit Card "A Ray of Sunshine" Discover® Business Card Household Math™: What Happened to the Other Dollar? Blue from American Express® Discover® Platinum Wildlife Card Stop Debt Collectors Cold! The Credit Repair Kit plus bonus CD! Inherited Debts? More credit, more options! Free DebtSmart® Column for in print publication, ezine, or web site Books, software, in-print and downloads Archive of Email Newsletters online Advertising Update-Subscribe-Unsubscribe-Disclaimer Information Publisher: Scott Bilker Editor: Larissa S. Bilker Assistant Editor: Denise Troy ISSN 1538-6740 You can add DebtSmart® News RSS feeds to your newsreader pages. Note: RSS feeds are not a replacement for the email newsletter but a fast method of finding out what's new here at DebtSmart.com. Charged Off vs. Collected Of the $141 billion in bad debt charged off by private businesses in 2005, third-party debt collection agencies recovered about $51.4 billion. Subtract out the cut to the agencies, and $39.3 billion was returned to creditors. Most of that was collected on commission. Of the debt collected by agencies in 2005, just $2.3 billion was on purchased debt. Read more credit card and debt statistics Stop Debt Collectors Cold! Stop Debt Collectors Cold! Plus, for a limited time, 4 bonus 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. Read about stopping debt collectors The Credit Repair Kit plus bonus CD! What do you think of when you hear the words "credit repair"? I think of scam! That's because many companies have made promises to "fix" people's credit but then simply stole their money. However, there are still reputable sources for people to learn how to straighten out their credit reports. Your credit report is your financial résumé and everyone from lenders to insurance agents reviews it. It's vital that there are no mistakes shown, and if there are, that they're removed! There are many books on the subject but my personal favorite is The Credit Repair Kit. That's because Joe Sainz offers great practical advise for correcting errors. Plus, he includes a Credit Booster CD-ROM with the book! If you're having trouble getting the rates you deserve because of your credit report, then you must read this book! Read more about The Credit Repair Kit plus bonus CD...

Hi,

Giving is good. Helping people in need is worthwhile. The problem is that there are some con artists that take advantage of our kindness. That means the aid that you intend to reach those in need could land in the accounts of these thieves.

So how can you be a little more sure that your donation finds its way to those who need the help?

At the IRS website, click on "Charities & Non-Profits," then on "Search for Charities." Then, simply enter the name of the charity or its location. If you find it on the IRS-approved list, you know that the charity is legitimate. Direct link is here.

Next item...

Who is the "Reallionaire"?

I've run across a very motivational story about a young man that became a millionaire at age 14! Farrah Gray grew up in the projects on Chicago's South side. It is important to understand that there are, and will continue to be, new ideas, new businesses, and new angles for becoming wealthy. The next idea could be yours! You may have been thinking about it for years. Well, it's time to take action. You can read about Mr. Gray's story at ABC News or even on the well-known reference, Wikipedia.

Best,
Scott

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When was the last time you took a look at your credit card APR (Annual Percentage Rate)? You may think you know what the bank is charging you for the use of their money, but you might be surprised to find that terms have changed and you're now paying as much as 18 to 20%. The U.S. average is around 18%, and I believe that is much more than you have to pay--especially when you've been a good customer with that bank.

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Intro Rate: 0.00%, Time Period: 6 Months, APR: 7.99% (for life on transferred balances). The Blue Cash® for Business Credit Card, issued by American Express®, is designed for business owners with average credit who plan to take advantage of the cash back reward program. The cash rebate amount varies according to where the cardholder makes their purchases. Cardholders earn a cash back rebate of up to 5% at "OPEN Savings" locations and up to 2.5% for all other general purchases. It is important to understand that once the annual spending exceeds $15,000, the rebate for additional "Open Savings" purchases is 2%, and the rebate for all other additional purchases is 1%. "OPEN Savings" locations include FedEx®, Hertz®, 1-800-FLOWERS.COM®, and more.

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"A ray of sunshine: your books arrived! They are exactly what I hoped they'd be, and they tempt me to ignore all else, as I devour them. I'm starting with Talk Your Way Out of Credit Card Debt, and, although I ordered it to learn how to help my sister and brother-in-law, I'm finding information that I can use to help myself, too. You were right to 'guarantee' that your 'books will help.' To paraphrase you, I've gotten mad, I'm getting smart--thanks to you--and I'll soon pick up that phone! My only regret is that I didn't think to ask you to autograph the books before you shipped them. Perhaps I'll have the opportunity to meet you someday, and I'll remedy that omission. Now, back to your phone calls..."

Enthusiastically,
Anne

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Three men checked into a hotel room and were charged $30 for which they paid $10 each. The next day, the manager realized that the men had been overcharged since the real price is $25 for the room. The manager gave the bellhop $5 to return to the three men. On the way to their room, the bellhop decided to keep $2 for himself so he wouldn't have to make change. The bellhop gave $1 to each man. The three men had paid $9 each now, or a total of $27. This, plus the $2 the bellhop kept for himself, makes a total of $29. What happened to the other dollar?

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Intro Rate: 0.00%, Time Period: 15 Months, APR: 4.99% (for life on transferred balances). Blue from American Express® is an ideal credit card for those with good credit who already have an established credit history and are looking for a card with access to a reward program. Various American Express® services and benefits are provided with this card, such as purchase protection, auto rental insurance, a year-end financial statement, and various travel and emergency assistance services.

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Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%. The Discover® Platinum Wildlife Card, issued by Morgan Stanley, is designed for those with very good credit who are looking for a Cashback Bonus® reward credit card. Through the reward program, cardholders earn a full 5% in cash rebates for purchases made at select merchants, up to 1% for general purchases, and .25% for purchases made at select warehouse clubs and discount stores. Those who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a 1% rebate.

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Gary,

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 were divorced a few years ago. My mom is doing well because she is a saving queen. My dad 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

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More credit, more options!

Credit options are your weapon against the banks! The key to success is using your credit lines to save money--not to go crazy spending!

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.

Copyright ©2006 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.