I met an old friend John last week at a school mate gathering. I have not seen John for the past five years after our last gathering.
John just been retrenched by his company beginning of year and without any income for the past 6 months. The only financial resources that John has are couple of credit cards and it has been burst. John cannot even remember how many bills have been outstanding. He has thought of seeking help on a bill consolidation exercise but did not know how to start.
Remember I did write about bill consolidation exercise before and the best option to turn to is resources from Internet, such as secureloanconsolidation.com. All these companies are very helpful and knowledgeable. Not only they advise you on the debts consolidation, they will also tailor made a complete package inclusive of refinancing, tax advice as well as bankruptcy procedure.
I hope John will take a bold move to face all this problems by engaging a professional company. Once the debts consolidation exercise is done, you will have a clear visibility of your debts and it is always easier to deal with a single debts account. Not only that, you might even get a lower interest rate in your new refinancing exercise, that means lower instalment and Interest payment.
There are thousands of new blogger everyday, everyone trying to make money from Internet especially during this economy downturn.
How to make money blogging ?
There are few ways of making money blogging:
1) You create a blog, create good content that is useful so that visitor will keep on coming for more information, when you have the traffic, you can start making money by putting in advertisement like Google Adsense.
2) You help others to create blog content, that means you are a ghost writer. You will get paid for every article written.
3) You write a review on a product and subsequently promote the product. If your visitors buy the product eventually, you will get paid from the product owner, we call this affiliate program.
Having to say all the above technique, the most important criteria to make money blogging is writing skill. But does it mean if you cannot write you will not be able to make money blogging ?
The answer is NO. There are a lot of individual or company offering writing services, you can order customized papers that meets your requirement and they will do all the job for you, the best part is you will get all the credit of the works.
I mentioned about choosing the right credit card in my last post, now I would like to talk about credit card consolidation or restructure.
It all happens when I received an email from a friend about RMCN credit service that she engaged months ago.
From: xxx
Sent: Thursday, July 30, 2009 1:26 PM
To: xxx
Subject: I improve my credit rating
July 30, 2009
First of all let me say that I am ECSTATIC about my credit repair progress. Vicky has been great ALL THE WAY, extremely efficient in all her efforts. I starting working with RMCN around May 11th, 2009 and just received my second credit score update today, overall between all 3 credit bureaus I have increased my score 86 points………………………………………………………………..
All the while I have been very conscious with my spending especially credit card, so I do not have much problem with my credit card payment nor it affect my credit rating. But after received the above email, I understand that a lot of people are in debts with credit because it is the most convenient way to spend money that you do not own, just a swipe with a signature and you are done, the problem will come at the end of the months when the payment due.
If you are having problem with your credit card payment and that’s affecting your credit score, you might want to have a look at various option that may help you to get back your good credit scoring so that you will not be penalized with higher interest rate in the future. You may get more information at www.repairmycreditnow.com on how to get back your credit scoring.
I received an invitation letter from a local bank offering me a “FREE” credit card. The credit card offer me interest free period up to 45 days, which is about 20 days more than a current credit card. Best of all, it is free, no annual charges at all.
It looks tempting to me as my current credit card charge me annual fees, even though I do not need to pay for it as my annual usage allowed me to waive the annual fees automatically.
Beside considering the free annual charges and longer interest free period, which does not sound attractive to me as both does not benefiting me, I am looking for more before I take up the offer.
I look through the offer letter and I notice that it did not mention about the amount that I need to responsible should I lost my card and report it within 24 hours. This is a grey area as credit card fraud case has been increasing daily as I do not wants to be a victim with tons of charges which I do not purchase anything at all.
I am very careful about using my credit card online, what I did was I had a credit card with maximum credit limit of $1000 specifically for Internet purchase. The is to assure that if there is any Internet credit card fraud happened case to me, my maximum lost is limit to $1000 only.
Debt negotiation is one of the most useful and cost-efficient methods to eliminate debt. Certainly, this is a debt solution that has garnered considerable popularity over the past few years. Debt negotiation is also known as debt settlement and it assures you that you can make a reduced payment than what you are actually obliged to repay.
How Does Professional Debt Negotiation Work?
When you communicate with a debt negotiation professional to assist you with debt settlement, it functions in an identical manner as debt consolidation. You no more make any payments to your creditors and the company you have employed is expected to do it on your behalf. You need to send money to this debt negotiation company. Under debt negotiation or debt settlement, your money is transferred to a specific account. You just need to make a single monthly payment.
However, your creditors are not paid by you directly. You cease making payments to your creditors and inform them that you are passing on the payments to the debt negotiation company. The debt settlement company tries to convince the creditor to settle on a particular amount for closing the account and name it “even”. This signifies that throughout the entire procedure, no payment is made to the creditor. You should remember that your credit would be damaged. When you have numerous creditors, it would be spoiled over and over again. Debt negotiation would spoil your credit in such a manner that it can require six to twelve months to mend your credit.
When a debt negotiation is contracted, the money from your account into which you have been depositing every month is utilized to repay your creditors one by one.
Why Does Debt Negotiation Succeed?
Creditors (particularly credit card companies) would agree to debt negotiation since they already have typically gained a profit from you. If your card balances are high and you have just been making the minimum payments for a number of years or simply somewhat more, there is a high probability that the credit card provider has got back the amount borrowed along with the interest. This indicates that the company is not essentially at a loss when it negotiates with you. It might not be a big amount. However, debt negotiation enables the company to receive something that they might not even receive if you file for bankruptcy.
