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Simple Trick: Should I Pay Off My Mortgage in Half the Time? Comparing 15-Year Mortgages and 30-Year Mortgages. Debt Card Safety Tips Steps to take if you lose your Debit Card Can a Debit Card Help you Build Credit? Have your Government Benefits put on a Debit Card
 
Simple Trick: Should I Pay Off My Mortgage in Half the Time? Comparing 15-Year Mortgages and 30-Year Mortgages.

Simple Trick: Should I Pay Off My Mortgage in Half the Time? Comparing 15-Year Mortgages and 30-Year Mortgages.

Pros of a 30-Year Fixed Mortgage With interest rates at a historical lows, consumers are racing to refinance their homes. In many cases consumers reach for the traditional 30-year mortgage. This loan locks in the incredibly low rates we see today for thirty years and in most cases gives the consumer a much lower payment […]

Debt Card Safety Tips

Debt Card Safety Tips

Do you know where your debit card is? It is essential to your overall financial security that you keep your debit card in a safe place at all times. Safety, above all else, is of utmost importance. If you are careless with your debit card it is only a matter of time before it backfires on you. What does it mean to be safe with your debit card? Well, this means different things to different people. To give you an idea of how to improve the safety of your card, follow the tips below. 1. If you lose your debit card do not wait too long to call your bank. The biggest mistake you can make is thinking that you are going to find your card in the near future – just to learn that this never happens. It is better to be safe than sorry. Call your bank, explain that your debit card is missing, and have them cancel it at once. Sure, it is an inconvenience but you will receive your new card in no time at all.

Steps to take if you lose your Debit Card

Steps to take if you lose your Debit Card

Did you recently lose your debit card? Did you have a scare that makes you think this could happen to you in the future? Losing your debit card is a big deal for many reasons. Although this may never happen, it is good to be prepared for the worst. Here are several steps to take if you lose your debit card: 1. Call your bank as soon as possible. It is common to wait a few days, hoping that your card turns up. While this could happen, it is better to be safe than sorry. Remember, the longer you wait to report your debit card missing the more chance there is that somebody will use it in a fraudulent manner. Are you really willing to take that risk?

Can a Debit Card Help you Build Credit?

Can a Debit Card Help you Build Credit?

Can I use a debit card to build my credit? This is a common question, especially among younger individuals as well as those who have had credit issues in the past. Most people are aware of the importance of an above average credit score. While this may not sound like a big deal, the higher your score the better chance you have of securing a loan in the future. Along with this, it can help in many other aspects of your life, such as when applying for a job.

Have your Government Benefits put on a Debit Card

Have your Government Benefits put on a Debit Card

Did you know that you can have your government benefits put on a debit card? This has become very popular over the past few years, as more and more baby boomers reach retirement age. Even if you do not opt for this method, you should consider the process as well as the benefits. If you are interested in having your benefits put on a debit card, the following advice should be useful: 1. Do you know what a government debit card is? This is nothing more than a card that is preloaded with cash from SSI, Social Security Disability, or retirement Social Security. In addition to the convenience that they offer users, the government is interested in this program because it helps reduce paper usage while saving them money.

Are You In Trouble With Debt?

Are You In Trouble With Debt?

28 April 2009

People often don’t recognize that they are in trouble with debt until it is too late. Ask yourself these questions to see whether or not you are in trouble with debt. People often don’t recognize that they are in trouble with debt until it is too late. Ask yourself these questions to see whether or not you are in trouble with debt.

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Posted in Bankruptcy, Debt Consolidation0 Comments

What Happens When I Don’t Pay My Bills?

What Happens When I Don’t Pay My Bills?

28 April 2009

For a variety of reasons, there are times when you can’t make the payments on your bills. What happens when I don’t pay my bills? During the current economic crisis, it has become more and more common to hear of people who can’t pay their monthly bills. This may happen when one person in the family loses a job or gets a pay cut. It may happen when the interest rate on a variable mortgage payment rises and the payment is now higher, leaving less money for other bills. For a variety of reasons, there are times when you can’t make the payments on your bills. What happens when I don’t pay my bills?

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Posted in Bankruptcy, Debt Consolidation0 Comments

How Debt Management and Debt Settlement Companies Can Simplify Your Financial Life?

How Debt Management and Debt Settlement Companies Can Simplify Your Financial Life?

28 April 2009

Debt management or debt settlement companies can often save you time and trouble when it comes to debt consolidation. A benefit of using a debt management company is the ease of the transition from having many, smaller debts to having one larger one.

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Posted in Debt Consolidation, Debt Management2 Comments

What Happens When You File for Bankruptcy?

What Happens When You File for Bankruptcy?

28 April 2009

When a person or company is no longer able to pay its creditors, the individual or firm usually files for bankruptcy protection. Typically, a bankruptcy filing is initiated voluntarily by the person, who will declare him/herself unable to meet his/her creditors. The most common form of bankruptcy generally protects an individual or firm’s assets from creditors.

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Credit Bureaus: Who Are They and What Do They Do?

Credit Bureaus: Who Are They and What Do They Do?

28 April 2009

A credit bureau collects information from different sources about credit and payment information and then provides that information in an organized fashion to lenders. The three primary credit bureaus in the United States are Experian, Equifax, and TransUnion. Credit bureaus create credit reports for lenders that are basically a history of your borrowing and repayment habits. Companies who are trying to determine the creditworthiness of an individual typically request credit reports.

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Posted in All About Your Credit, Credit Score0 Comments

How to Read Your Credit Report

How to Read Your Credit Report

28 April 2009

A credit report contains four basic parts: identifying information, credit history, public records, and inquiries. It’s important to look closely at each section to determine whether or not the information contained in the credit report is correct.

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How and Why to Get Your Free Credit Report Every Year

How and Why to Get Your Free Credit Report Every Year

28 April 2009

Learn how to get a free credit report from each of the three credit bureaus every year and why it is important that you review your credit report on an annual basis. Under the Fair Credit Reporting Act, you are entitled to a free credit report from each of the credit bureaus (TransUnion, Equifax, and Experian) every 12 months. As a responsible consumer, it’s important to review your credit report on a yearly basis.

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Posted in All About Your Credit, Credit Score1 Comment

Mortgage Trouble? Short Sale or Loan Modification – Which Is a Better Option?

Mortgage Trouble? Short Sale or Loan Modification – Which Is a Better Option?

08 April 2009

This article describes the pros and cons of short sales and loan modifications. It offers some useful tips for deciding which would be the best option for you. When you agree to enter into a mortgage on a home, you are agreeing to abide by specific terms set out in a loan agreement. You agree to a payment schedule and a payment amount, based on the amount of the mortgage loan and the interest rate offered by the mortgage company. But what are your options when you find that you can no longer abide by the terms of the agreement? For whatever reason, if you find yourself unable to meet your mortgage payments, there are several options available.

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Posted in Foreclosure, Loan Modification, Short Sale, Your Mortgage0 Comments

Debt Consolidation: How To and Pros and Cons

Debt Consolidation: How To and Pros and Cons

08 April 2009

Are you unsure of how to consolidate your debt and whether debt consolidation is the right approach for you? When you consolidate your debt, you take out a loan to pay off several other debts. This allows you to consolidate the money you owe into one payment and manage your debt more effectively.

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Posted in All About Your Credit, Debt Consolidation, Tips and Tools for Improving Your Credit0 Comments

Sample Hardship Letter for Loan Modification

Sample Hardship Letter for Loan Modification

25 March 2009

Here is a specific example of a hardship letter you could use for a loan modification if you fall behind in your payments. For a little more detail on putting a hardship letter together see: Tips on How to Write a Hardship Letter for a Loan Modification or Short Sale A hardship letter is a letter written to your bank or mortgage company telling them why you can no longer afford to make the payments on your home. This letter describes your hardships and specifically what has happened that caused you to fall behind. Based on the current credit environment, hardship letters are being used as a tool to help homeowners avoid foreclosure on their homes. The result can be a modification of the loan or the acceptance of a real-estate short sale by the bank.

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Posted in Hardship Letters, Loan Modification, Tips & Tools for a Loan Modification5 Comments