Hi,

Avoid being maxed out! Hey, you know that movie Super Size Me about the guy who ate at McDonald's until he nearly exploded? Well, there's another documentary movie out that is the "Super Size Me" of debt titled, Maxed Out. Director James Scurlock asked me about being interviewed for this movie around June 2004, however, I didn't make the final cut. I guess I couldn't sing as well as Sanjaya. ;)

It looks like a great movie (from what I've seen so far). You can see clips, and learn more about the film here.

If you're looking for a more "Christian Perspective" on debt relief, then check out Integrity Debt Solutions. They explain how debt forgiveness is linked to scripture and debt elimination. I find the site to be well done. Remember though, as with any service, you need to first get the free consultation and then compare that to other solutions for your specific situation.

Recently, I ran across a great consumer website where you can look up complaints from people that have been ripped off. From their site, "Unlike the Better Business Bureau, we do not hide reports of 'satisfied' complaints. ALL complaints remain public in order to create a working history on the company or individual in question; unedited."

DebtSmart reader, Diane Ayers, sent me this email message and it made my day! "I have to say DebtSmart is one of the best email newsletters I have ever subscribed to. Not only does it help me keep debt under control, it tells me how to make it shrink and keep going on with life without the worry of constant debt. Also, it expands on things that we do everyday. It just keeps getting better and better. My favorite part of the newsletter is seeing people really open up and ask for your help or suggestions, and you reply in a compassionate manner that is not seen today. Keep up the good work; your newsletter will always be #1 with me." Thanks, Diane!

That's all for now!

Best,
Scott

It's clear from the "DebtSmart Survey Results: Cutting Spending vs. More Income" that most people believe that cutting spending is the faster way to reduce debt. Of course, this is certainly true to some extent. My position is that there are three main points to be addressed when reducing debt, specifically: (1) Getting organized financially; (2) Becoming more efficient with your current debt and spending; (3) Generating more income.

Here are some suggestions to expand on number (2), specifically as it applies to spending.

1) SHOP ONLINE: If you have to make a large purchase; for example, computer, water heater, etc., ALWAYS check out prices online. Don't be tempted to get it at the local store without taking a look at competing prices.

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"I just recently started receiving your newsletter, and it has already made an impact on my life. I owe about $6,000 between Discover and Visa card; I was getting nowhere even paying extra. After your newsletter came, I went right down to the credit union and transferred my balances and got MUCH lower rates on my credit card. Duh! Don't know why I didn't realize I could do this before. Thanks."

Bobbie

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Susan just left her boyfriend Jim because he didn't want to get married. Susan originally planned to buy an investment property with Jim, but that plan is over. She decides to go ahead and get the house herself. She gets approved for a 30-year, 7% APR loan with payments (principal and interest) of exactly $800.00. Susan decides, after making the first monthly payment of $800.00, that starting the next month, and until the loan is complete, she is going to add one extra dollar bill to the monthly payment. So her next payment will be $801, then $802, and so on. How long will it take her to repay the loan?

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Gary,

I have a problem with my PMI. I have contacted the mortgage company on four different occasions to talk about canceling it. I want the extra money to start paying down the mortgage. On call one, I was told it was going to automatically drop that same month, so I did nothing. When several months had passed, I called again. This time I was told again it would be dropped in two months. So again I waited. When several more months had gone by, I called again. This time I was told it would automatically drop when the balance reached 75%. That was two months ago. Today, I called again and guess what, I now have paperwork I need to fill out, get an appraisal (which I pay for) and then it should be dropped.

Is this normal or am I just being BS'd again. I had read for a long time how difficult it is to get them to drop PMI. Now I know what they mean. What can I do to get it dropped? Are there any rules, laws or governing bodies I can talk to about this constant run around?

Keith

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If you don't already know, I'll be the first to tell you... banks, finance companies, bill collectors and credit card companies are some of the BIGGEST crooks in the world. If you don't know the secrets contained in the Credit Secrets Bible, you will pay tens of thousands of hard-earned dollars in extra bills, interest and fees, etc. Your money will be wasted (down the drain) for no reason other than you don't own the Credit Secrets Bible home study course.

Banks and other institutions who take your money, ruin your credit or deny you the money you need are very powerful. They make a business out of hurting people like you to make more money for themselves. And, the more they hurt you financially, the more powerful they become. But they won't be able to hurt you anymore! With the Credit Secrets Bible, I'll show you how to stop them dead in their tracks!

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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 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 ©2007 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.