tag:blogger.com,1999:blog-37235502935632892232023-06-20T22:09:32.968-06:00Finance SourceFinanceSource.net offers a wide range of financial services and solutions. Consolidate debt, finance a home remodel, buy a new home, invest in real estate, buy a new car and much more.Bigado Networkshttp://www.blogger.com/profile/05202475488868831551noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3723550293563289223.post-11217019689073472332009-05-24T11:51:00.000-06:002009-05-24T11:53:26.531-06:00Using The Internet To Get Bankruptcy InformationUsing the Internet to get Bankruptcy Information<br /><br />Whether you are looking for chapter 13 bankruptcy information or any other type of bankruptcy information, at least you can rest assured knowing that you have tons of great options here. However, the best resource of all to you here is going to be is the Internet. With the Internet you are able to not only get the best, most up to date bankruptcy information, but even better, you can get it free.<br /><br />There are various different websites and online banking and other financial institutions offering bankruptcy information that you can check out.<br /><br />Hoyes Michalos<br /><br />This is definitely one of the best online companies that you can check out if you want to get bankruptcy information. You can even talk to an expert right online, who will speak to you one on one and offer you the detailed, personal information that you are looking for. <br /><br />They have offices located all over Canada, and they are always updating their information so you can keep checking back and make sure that you are up to date on everything to do with bankruptcy.<br /><br />They have a long list of answers to frequently asked questions, and this is the easiest way to find what you are looking for if you have a question that you think may be commonly asked.<br /><br />Bankruptcy Canada <br /><br />Another company that you can check out for bankruptcy information is Bankruptcy Canada. They are strategically aimed towards Canadian residents, to offer them information on the process of filing for bankruptcy and what the pros and cons are.<br /><br />They feature a trained qualified staff, a member of which will talk with you and assess your current financial standing. From this they will be able to properly determine whether or not bankruptcy is really the only option that you have here and if so, they will tell you what steps you need to take next to get the process going.<br /><br />Although bankruptcy can certainly be helpful in some cases, you need to realize that it is not just a golden ticket out of your financial trouble. You may not have to deal with all the debt and creditors as you did before, but you will have a huge hit to your credit and you will have most if not all of your assets away, and this includes any businesses that you may own and any credit cards that you may have. It will also stay on your credit report for up to seven years.Bigado Networkshttp://www.blogger.com/profile/05202475488868831551noreply@blogger.com0tag:blogger.com,1999:blog-3723550293563289223.post-39873466039238186932008-05-27T08:03:00.000-06:002008-05-27T08:04:00.462-06:00Drowning in Debt - Get Out NowFeel like you are drowning in debt? It's time to do something about it. <br /><br />First, rest assured that you are not alone. There are many, many people who are deep in debt. <br /><br />Second, more than likely you can pay off your bills and change your spending habits to fit your income. There is example after example of families who were deep in debt and were able to not only pay it off but who ended up in better financial shape than before. <br /><br />For instance, there was one family who found themselves in such debt (over $100,000) that they had to move in with the wife's sister. She let them live in her basement. <br /><br />They worked hard paying off the debt and creating a home business and are now worth over a million dollars. This is a true story. <br /><br />If they can do it, you can too. Even if it means moving in with family temporarily, or downsizing your home, you can get out of debt. It is entirely up to you, though. <br /><br />The first thing you need to do is take a close look at how much you spend each month and how much you make. Add up all of your expenses in one column and your income in the other. <br /><br />Check to see if there is any spending you could reduce, such as not eating out, forgetting about going to the movies for awhile, or any unnecessary purchases. <br /><br />Once you figure out what you need for expenses each month, if there is any extra income left over put it all towards paying off the smallest credit card debt. Once that is paid off, put all the money you were putting towards that credit card towards paying off the next smallest bill. <br /><br />Continue with this until all of your credit card and other debt are gone. <br /><br />If, after adding up your expenses and comparing it to your income, you find that there is no extra money to put towards paying off debt, you have some tough choices to make. <br /><br />Perhaps you need to sell your home and get a smaller, cheaper residence. Even if you need to rent for just awhile, it will be worth it in the long run. It is better to pay off your debts than declare bankruptcy. <br /><br />You might need to get a second job. Perhaps your wife could start a business at home. Perhaps you and your wife could start a home business together to bring in some extra money. <br /><br />Perhaps you need to find a financial counselor who can help you figure out a budget and how you can pay off your debt. There are many to choose from. <br /><br />There are options available to get out of debt. Whether you sell your home or start a home business you can do it. Do not let it ruin your life. Do not get so stressed that it wrecks your health or your marriage. <br /><br />The important thing is to start today before it gets any worse. Then be patient and consistent in paying back what you owe. See it as a time to grow and learn money management. It isn't hopeless. You will become debt free.Bigado Networkshttp://www.blogger.com/profile/05202475488868831551noreply@blogger.com0tag:blogger.com,1999:blog-3723550293563289223.post-70633655173613134362008-01-14T22:35:00.000-06:002008-01-14T22:37:30.062-06:00Are Debt Collectors Harassing You? How to Make Them Stop!If you've been a victim of job loss, medical emergency or other cause of income loss, you may be one of the millions of individuals facing a pile of debts that you cannot cover. Miss one or two payments and you can expect to get a call from a debt collector.<br /><br />Calls from debt collectors trying to find you at your place of employment can be humiliating. You may already be screening your calls, your chest tightening as you realize it's them - again.<br /><br />While not every debt collector is unsympathetic and berating they likely do have to steel themselves for many of the sad stories given to them as explanations for past due debts. They are also frequently rewarded for their efforts in collecting the debt with a commission based on the amount obtained. It is easy to see why it is not uncommon for individuals who are already in a desperate state to fear encounters with the more aggressive collectors who are determined to get their fees.<br /><br />"What Are They Allowed to Do?"<br /><br />Debt collectors are allowed to contact you by in person, by mail, by telegram, by fax and by phone; at home or at work - unless they know your employer would disapprove. They may also not contact you before 8 a.m. or after 9 p.m. unless you have agreed to the contact at that time.<br /><br />They must contact your attorney unless you don't have one. They may then contact other people to find out your telephone number, work place or address, but in most cases they are not allowed to inform them that you owe money or contact them more than once.<br /><br />"What If I Don't Want to be Contacted?"<br /><br />Whether or not you actually owe a debt you can write a letter to the collector telling them to stop contact. They may then contact you only once to inform you that they will make no further contact or to tell you what action may be taken against you.<br /><br />Stopping contact will not clear the debt. If you do not believe you owe the debt make that clear in your letter.<br /><br />"What Can I Do If I Am Harassed?"<br /><br />The FTC (Federal Trade Commission) has a Fair Debt Collection policy to protect consumers. Knowing your rights will put off even the most determined collector since they already know the law and are pressing you on the assumption that you don't.<br /><br />Debt collectors are NOT allowed to harass, abuse or oppress you or other individuals on your behalf - that includes obscene language, threats of violence or repeated calling in an effort to annoy.<br /><br />They are not allowed to misrepresent themselves as government agents, attorneys or representing a credit bureau if they are not. They cannot imply they are sending legal documents if they aren't or that you've committed a crime, if you haven't.<br /><br />They cannot imply legal action, including seizing property or garnishing wages unless they are legally allowed and intend to do so.<br /><br />You can find out more about your rights from the FTC. If you want to report an agent you can do so by contacting the FTC or your Attorney General. If they are breaking the law you have the right to sue.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-3723550293563289223.post-61634019541497039112008-01-02T16:53:00.000-06:002008-01-02T17:01:52.702-06:00How to Save Thousands of Dollars on Your Mortgage!<span style="font-family:arial;">The dream of owning a home is becoming very allusive these days. Although everyone would like to have a home that is paid for free and clear, many people are forced to assume mortgages that will be paid over 25 or 30 years into the future. </span><br /><span style="font-family:arial;"><br />Everyone is constrained to a certain degree by their budget. Yet there is a way to pay off the existing mortgage on your home quicker and save money in the process.<br /><br />Almost all mortgages have built into them an Accelerated Payment Clause. This allows the borrower to pay more than the minimum amount of the monthly mortgage payment.<br /><br />To do this you simply remit more to the lender than the usual mortgage payment every month. The benefit to this is that every extra dollar paid against the mortgage will lower the outstanding balance of the mortgage. This increases the equity in your home faster over time. Also, by lowering your outstanding balance, you will save on interest charges.<br /><br />Here is a good example based on the scenario of an average family.<br /><br />If you are an average family of four making $50,000 a year, let us assume that you are saving annually at the same rate as most Americans. This rate of savings as reported by our government is about 4% of your income every year. This would mean that you are putting $2000.00 in the bank every year for future purposes. This comes out to around $167.00 a month.<br /><br />Right now you are probably receiving less than 1% Annual Percentage Rate (APR) on your passbook savings.<br /><br />Why not take $100.00 of this money that you would normally save and pay down the mortgage on your home ahead of time? The following example shows why this is in your best interest.<br />If you take out a mortgage on a house for $200,000 at a 6% fixed rate, and the contract calls for repayment in monthly installments over 30 years, your monthly mortgage payment would be $1,210.56.<br /><br />If you paid an extra $100.00 dollars per month toward the amortization of your mortgage, you would add $1,200.00 to the equity in your home every year.<br /><br />In this scenario, the total amount paid to buy your home over the life of the mortgage would be $435,798.89. When you add $100.00 to your mortgage payment every month you would save $46,360.13 in interest charges over the life of the mortgage. You would also be able to retire your mortgage earlier.<br /><br />You would be able to trim 38 monthly payments off your repayment of the mortgage. So the mortgage would be paid off 3 years and 2 months sooner if you use this repayment method.<br />In short, what this strategy does is shift your money from passbook savings only ($2,000.00 per year), to paying $1,200.00 on your mortgage, and saving $800.00 directly into your bank account each year.<br /><br />To sum up the benefits of using this method, the borrower in the example above saved $46,360.13 in interest on their loan, and accumulated $21,923.85 in passbook savings ( $67.00 per month X 1% APR X 322 months ). This equals $68,283.98 in accumulated savings over 26 years and 10 months (This is the actual time it would take to pay off the original 30 year mortgage).<br /><br />If the family would have put all of their money ($167.00 per month) in a passbook savings account only, they would have accumulated $54,646.35 over the same period of time.<br /><br />So this family would have actually saved $13,637.63 more by using this accelerated payment method. And they would have also paid off their mortgage 3 years and 2 months earlier than normal.<br /><br />This method can be used in any situation where the mortgage has an Accelerated Payment Clause built into it. It will work best if you are consistent with the amount that you pay on your mortgage every month. Any change in the amount of monthly repayment of the mortgage will affect the amount that you will actually save.<br /><br />Check with your banker to find out if your mortgage allows for Accelerated Payments. Then you can use this strategy to save a lot of money on your mortgage and own your home sooner. </span><br /></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-3723550293563289223.post-70742954344587196352007-12-10T15:40:00.000-06:002007-12-10T15:41:39.907-06:00Debt Consolidation Explained For the Rest Of Us<div align="justify"><span style="font-family:arial;">We've all seen the commercials touting that you can consolidate your debt, get out of debt, and have just one payment. To some people this doesn't mean much, however, when you are paying on more than three credit cards and the annual percentage rate keeps climbing on each of them, this starts to look extremely enticing. Detailed here, we will step through some of the processes that are entailed in this kind of program.<br /><br />First off, about the commercial that the prospective customer responds to, they are only a middle man. They will collect your debt information, contact information, and have you sign a preliminary contract. Following that, you will be forwarded to the actual entity that will be handling your accounts... so don't waste too much time asking the first contact your questions, as they are likely to tell you what you want to hear - just to get you into the program so that they can get their commissions.<br /><br />The reality of it all comes clear once you've made contact with the law office that will be handling your case. They will go over the details of how much you owe and to whom it is owed. Once they get in touch with your creditors, the phone calls will begin. Your creditors will be contacting you trying to settle the debts without the new entity (usually a law office) being involved. And, you are told by the law office not to respond to the creditors. It's a hassling couple of weeks until the creditors realize they must deal with the law office instead of you. But, once they get the drift, the calls will stop pretty abruptly.<br /><br />Given time, your consolidated payment will accumulate into enough money for the law office to offer a settlement to one or more of your creditors. Once the settlement amount is reached for one creditor, the office will contact and ask you if you are ready to settle the debt. And then you begin the process of saving up the money again, to settle your next creditor debt. This continues until all creditors have settled for less than what they are owed... being happy that they got anything at all.<br /><br />One thing that sometimes is not explained up front, is that the law office is not working for free. They will be charging you a percentage of the amount they saved you, based upon the original debt you came into their program with.<br /><br />Overall, these programs will save you heartache and money. So, if you are in financial disparity, looking into debt consolidation programs may be well worth your while. Just be sure to change your spending habits to be sure the same debt problem does not happen again.<br /><br />The key is to live on less than you earn. It really is as simple and plain as that. Take the steps to fix what needs fixing.</span> </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-3723550293563289223.post-34859840758574679912007-12-10T15:33:00.001-06:002007-12-10T15:36:11.555-06:00Debt Stacking - Fast Track Out of Debt<div align="justify"><span style="font-family:arial;">You go to the mail box and scan - a couple fliers (nah), your magazine subscription (yes!) and bills (groan). Every month the bills show up and as you sigh and take out your check book you wonder if you will ever be free.<br /><br />Each month you pay the minimums and although you KNOW you've got a handle on it - you are not charging your credit card or accumulating new debts anymore - it seems that you will be paying the minimum fees forever.<br /><br />Did you know that HOW you pay your debts can affect how soon you will finishing paying them off - even if you keep paying the same amount for debt every month? Of course you might be able to get a consolidation loan, but if you're not eligible or are not interested then there are several other things you can do.<br /><br />It's not always the easiest to figure out the mathematics, but there are three steps to quicker debt relief - guaranteed.<br /><br />STEP ONE - Create a list.<br /><br />List your smallest debts first followed by your largest high-interest debts (credit card) and then your largest low-interest debts (Lines of credit and taxes).<br /><br />Plan to pay the minimums on all debts with these goals in mind:<br /><br />STEP TWO - Small bills first.<br /><br />They may not be the highest interest, but every bill that you are paying some interest on means you are usually only paying minimal amounts on the principal. Multiple debts are also a sure way to bring your spirits down. Paying off small debts first is a quick way to start checking them off - and freeing your mind.<br /><br />STEP THREE - Move the payments along.<br /><br />When one debt is paid add the funds to the next debt. For example, say you're making $75 payments to a small debt. When the debt is cleared add the $75 to the next debt on your list. If the next debt had a minimum payment of $100, you will now pay $175 until it is paid off. When that one is finished, take the $175 and add it to the next payment and so on.<br /><br />STEP FOUR - Save the cash!<br /><br />Don't forget that when your debts are cleared you have set yourself up for a better financial future. The best way to take advantage of your new situation is to use all the money you were spending on debts and start investing or saving it every month.<br /><br />With this strategy your debts will clear faster meaning you will pay less interest, you will see progress as you clear small debts first, and you will not be tempted to use the funds for personal use instead of debt repayment.<br /><br />It is a worthwhile goal to get out of debt. Seeing that goal come sooner and teaching yourself discipline sets you up for a brighter financial future. You OWE yourself that!</span> </div>Unknownnoreply@blogger.com0