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What Loan company will take over my federal student loans when the loans are in default?

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What Loan company will take over my federal student loans when the loans are in default so I can go back to school?
My loans are government loans from Saillie Mae. I owe them under $5000.
I heard about this company that will take over your school loans from them but I don’t know the name of the company.

I am at the point where I can't get a federal student loan until I pay this off.

When your federal educational loans are in default, you have several options:

You can repay the loan in full.
You can negotiate a new payment plan with your lender.
You can “rehabilitate” your loan.
You can consolidate your loan.

Obviously option one is rarely attractive or possible for defaulted borrowers.

Option two (renegotiate) should be investigated fully – most borrowers skip this step, but it’s probably the best option for most people. Call your lender and ask to speak to someone in the “Workout” Department. Explain your situation to them (there’s nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your repayment plan, a few regular payments will get your default status removed, and the new plan may be easier for you to keep up with.

Option three (rehabilitation) is really a specific form of a workout agreement. It probably won’t help you much in your situation, because it requires an agreement between you and the lender that will allow you to make 9 consecutive on-time payments of some agreed-upon amount.

Option four is everyone’s favorite, but you must absolutely understand what a consolidation loan will do. To keep this utterly simple – a consolidation loan is a brand new loan that will pay off your old, defaulted loan. A consolidation loan MAY lower your monthly payments, but understand how this works. A consolidation loan never lowers your payments by wiping away some of your debt – a consolidation loan lowers your payments by stretching out the length of your loan. If you pay less every month, you’ll make many additional monthly payments, and – in the end – you’ll pay far more back than you would have paid on the original loan.

As an example: Suppose I lent you $100 and you agreed to pay me back in 2 weeks by paying me $50 a week. You came back a few days later and explained that you weren’t going to be able to afford to pay me $50 – is there something else we could do? “Oh, absolutely,” I’d say, gallantly. “Instead of paying me $50 a week for 2 weeks, how about if you only pay me $10 a week for 17 weeks?”

See – in the end, you’ll pay me back $170 instead of $100 – that’s how a consolidation loan works. But remember – we’re not talking a $100 loan for a couple of weeks – by the time you pay that $5000 loan of yours back over many years, you’ll pay a few thousand more than you might have paid if you didn’t consolidate that loan.

I’ve attached some information about consolidating from the Department of Education – take a few minutes to read it over. If you do choose to go this route, be sure to consolidate with a reputable lender (or directly with the government) and not with some fly-by-night operation that you learn about from some pay-per-click site shilled on Yahoo! Answers.

Good luck to you!

How many credit cards is too much to affect your credit score?

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I am going to ask another question regarding which CC should I add to my credit card profile to add to my rewards. I have excellent credit, pay my balance in full each month, and I use my CC to pay for everything I can to rack up points/miles etc.

I am at a point where I want to increase my points and miles so there are some options. The question is, what is too much. I basically share a VISA with my wife, and have an older VISA that i keep. I realize that you should keep older credit cards for history. I want to add at least one AM/EX either the Starwood points, or the Delta Miles. I also might switch our Cap1 card to the signature to get 2 points for every $1 spent, instead of 1.25 for $1. That is a new card, not a switch. And recently, I have received letters for UNITED miles (20,000 bonus) and AA Miles (21,000 Bonus). I would love to use those just to add to my miles on those flights. Could I add 3-4 cards without hurting my excellent credit? I will not rack up debt.

You could have 50 cards and as long as you kept them in good standing, low utilization, no lates, etc. they won't hurt your scores – you would take small dings for inquiries though.

If you are adding 3-4 cards, and you already have a good card portfolio that has fairly good history, the inquiry dings should be small. After 6 months the inq's will be less of a significance on your scores and at one year they will have no impact at all.

Available credit is not debt.

I can see only one card that you currently have that is probably keeping your scores from actually being higher than they are now. That would be the Cap One card.
Cap One is notorious for not reporting credit limits, they only report high balance – that makes it look like you are over utilizing the account.

What is accounting cycle? How the accounting transactions pass through various books of accounts before?

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What is accounting cycle ? How the accounting transactions pass through various books of accounts before they get reflected in the final accounts ?

It probably starts with you placing an order for some goods. When the goods arrive, you need to pass a journal entry in the purchases journal to record the purchase of merchandise inventory. This will find its way subsequently into the general ledger (GL). In the course of business, you'd need to make payments to other vendors and employees. These entries will be in the cash book and subsequently into the GL. When you make a sale, you need to pass journal entries too. These will be in the sales journal which will again find their way into the GL. When your customers pay you, these are again cash book entries, again ending up in the GL. From the GL you extract your trial balance, then pass adjusting journal entries, then you'll have your adjusted TB from which you can prepare your income statement and balance sheet. This is as brief as I can make it.

How much of banking history reality is following?

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The bank on the corner, which since interstate bank ownership that idea may no longer exist. Mean commercial bank that accepts deposits with FDIC insurance. By law where they not prohibited from getting into speculative investment banking, so investment banks were created, which were to go bust if they did not work. The risk they took for deregulation. At one time there was law that prohibited deposit accepting banks from exposure to investment banks. Sear could not start bank because of insurance business. What happened to that law? When Bank of America goes belly up why should tax payers come up with one cent.
Should slogan to big to fail be replaced by– To risky to save.

Whoa. Your question is a bit hard to read and it sounds like you’re pretty P.O.’d. I think you are referring to the Glass-Steagall Act, which was repealed by Bill Clinton’s administration in 1999.

What happens to a second mortgage when a home is purchased at a foreclosure auction?

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I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second of $70K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that I will own additional money to the second mortgage or just the first mortgage and back taxes?

When a senior lien forecloses, a junior lien is wiped out.

So if the first mortgage holder forecloses, the second trust deed goes away. If the second forecloses, you'll still owe the first.

Oftentimes, if a senior lien forecloses, the junior lien holder will send a representative to the auction to defend its interests by making sure the property goes for enough to pay the junior lien as well. Or they buy it themselves with the idea of reselling. Costs money, yes. But better than losing their whole investment.

How long can the bank hold the funds for a check I deposit?

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My bank, Washington Mutual, where I've been banking for 2+ months, continues to hold funds on every check I deposit for a minimum of 4 days, up to 2 weeks. The 4-day rule is for a check from a local bank. The 2 week rule is for non-local checks. They are very uncompromising about these excessive hold times, and get testy when challenged about them. My previous bank never held checks for so long. I have no adverse banking history that would require WaMu to be so careful.

Please don't tell me only what your bank does; I would like to hear from those who actually know what the Federal regulations are on this matter. I've made a few phone calls about this and looked online, but I can't find reliable, up-to-date information. Thanks for your help.

I believe the bank can hold your check until the funds are physically in their possession from the bank the check is drafted on.

That being said in my experience most banks will work with business customers and only hold checks over a certain value or only hold checks from banks you do not have in your regular deposits. If this bank will not work with you my suggestion is to go to one that will.

Recipe using chicken stock, to take advantage of good homemade stock?

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What is a recipe that uses chicken stock, that will take advantage of the flavors of a good homemade stock?

In reading discussions of homemade vs store-bought stock, ppl say they use homemade for "delicate" soups and other recipes. For non-delicate recipes such as braises which would overpower the stock, store-bought is fine.

So what would be a good "delicate" recipe? Is butternut squash soup "delicate"?

Butternut squash soup isn't really delicate, but would probably taste great made with homemade stock.

I'd say, make whatever you want with it, homemade will taste better than store bought and its probably better for you.

If you really want to taste the stock, make your own chicken noodle soup with big chunks of chicken, carrot, and celery and egg noodles.

Also, risotto might be a good use for the home made stuff.

How do I make money online without spending money?

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I’m looking for ways to make money online without spending any money therefore I do not have any money to spend.So if you have any good ideas feel free to give me your answers. Thanks!

Other than selling stuff (like on eBay or Amazon), most “make money online” sites are a scam, and a waste of time. I’ve looked into some of them, and every one is the same. This is no different than playing the lotto – you want to make money without putting forth any effort or money. You want a way to quickly and easily make a bunch of money without any effort or thought. Just stop trying – you’ll save a ton of time, and possibly avoid a few dangerous scams.

Most people I know (myself included) would love to magically get a bunch of money, because most jobs suck, and we as a society are dependent on money to buy our happiness. I’m not criticizing you, because I’ve wanted exactly what you’re looking for many times. But I’ve learned that it’s not going to come. Other than rare occasions, money doesn’t just fall into your lap, and when it does, it’s not from any “get rich quick” schemes – it’s pure chance and you cannot expect it or make it happen. If it does, great, but it probably won’t.

If you want to make money – think of an idea that no one has thought of before, and market it, or something like that. Or take something that already exists, and find a new use for it, or think of something that would be nice if it existed, and make it a reality.

Also, don’t focus so much on money – it’s a complete illusion anyway. It’s colored paper that is only worth what everyone says it is, and with the economy like it is, you shouldn’t put too much value in it right now.

You probably don’t want to be a wage-slave and work at McDonalds, or even in some cubicle for the rest of your life, even if it pays well. If you do want income (which is rather handy, admittedly), get a job that you enjoy – try something different. If you don’t like it, quit and try something else. Never keep a job just because you feel like you “need the money” – don’t sacrifice your happiness for colored bits of paper – life’s too short for that. But don’t expect free handouts or quick riches – that’s not how things work. Just be happy, and trust that things will work out if you want them to. Be willing to work for what you want, and don’t sacrifice your happiness to an illusion.

Is investment in Jomtien (thailand) condos among very good investment options in Asia ?

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I am exploring investment in Jomtien (Pattaya, Thailand) condos. I like to know if Jomtien is possibly among the very good real estate investment destination and can i expect 30% appreciation per annum. I hear them some of the Thailand's highest towers are being built in jomtien beach. I would like someone to also list top 3-4 condos schemes for investment in 2008, and some websites that give comparison of multiple schemes and most updated information.

sir
In India there are lot of opportunities where you can invest your money ,if you are sincere please just drop a line,
I shall be here to reply your queries

How can I get required financial work experience to become a Certified Financial Planner while still teaching?

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I’m interested in becoming a Certified Financial Planner, but I’m facing something of a “Catch 22.” In order to complete the requirements for the formal certification as a financial planner, a person has to have 3 years of financial work experience. I’m currently a full-time high school social studies teacher, and would like to make the transition to the new career as quickly as possible after I retire from teaching (in about 10 years). What can I do while I’m still a full-time teacher to get the financial work experience I need so that I can make the transition to a Certified Financial Planner without having to spend 3 years getting this experience after I retire from teaching? Thanks in advance for your time, ideas, and information.

That's tough, since I'm sure you have a busy schedule. Contact Life/ Health insurance agents and financial planners in your area and see if any of them have summer positions open. Maybe some of them are open on Satudays? (Long shot.) Maybe you'll find someone who will take you under their wing in a mentor/ mentoree relationship.

You could always get your life and health insurance license and start selling annuities (considered a financial product). From there you can get your Series 6/63 and/or 7 licenses so you can sell variable interest products. You can do all of this on your own, working for yourself.

Perhaps you can ask other financial planners how they got their start?

Best wishes.

Barack Obama on Small Business Loans: Toledo, Ohio

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Barack Obama spoke about small business loans in Toledo Ohio on October 13, 2008.

Duration : 0:1:27

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How to hack RFID-enabled Credit Cards for $8 (BBtv)

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A number of credit card companies now issue credit cards with embedded RFIDs (radio frequency ID tags), with promises of enhanced security and speedy transactions.

But on today’s episode of Boing Boing tv, hacker and inventor Pablos Holman shows Xeni how you can use about $8 worth of gear bought on eBay to read personal data from those credit cards — cardholder name, credit card number, and whatever else your bank embeds in this manner.

Fears over data leaks from RFID-enabled cards aren’t new, and some argue they’re overblown — but this demo shows just how cheap and easy the “sniffing” can be.

This episode is part of our ongoing series of interviews with some of the thinkers, hackers, and tinkerers at the O’Reilly Emerging Technology conference this year.

For more episodes of Boing Boing tv, visit tv.boingboing.net.

Duration : 0:3:23

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The basic accounting equation

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The fundamentals of accounting explained in a couple of minutes

Duration : 0:2:14

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1. Corrupt Banking System – Cartels Robbing the Public

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__Expand to see INDEX__

This highly informative and easy to understand film covers just about everything that isn’t taught in school regarding the corrupt banking system. It explains how these institutions get away with robbing the unsuspecting public by creating monetary policies designed to enslave society, while keeping the system in a perpetual state of rising debt.
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1. Corrupt Banking System – Cartels Robbing the Public

http://www.youtube.com/watch?v=cy-fD78zyvI

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2. Corrupt Banking System – How “Money” is Created

http://www.youtube.com/watch?v=hfXavRTM4Fg

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3. Corrupt Banking System – Money is Debt

http://www.youtube.com/watch?v=_yvRZoM-2r8

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4. Corrupt Banking System – Monetary Reform

http://www.youtube.com/watch?v=f0p8LepIuVM

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5. Corrupt Banking System – Warning About the NWO

http://www.youtube.com/watch?v=PzXZ_Hs1g6U

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Additional keywords (tags):
tyrranyofsouls tyrannyofsouls

Duration : 0:10:56

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sub-prime mortgage blues

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lyrics and slide show by gregg somerville music by chris conti

Duration : 0:7:19

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50 Cent – Straight To The Bank MUSIC VIDEO

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50 Cent – Straight To The Bank MUSIC VIDEO

http://www.50cent.com

GET THE RINGTONE! Text FIFTY6A to 30303

Duration : 0:3:33

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Gene Kelly Summer Stock Dance

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Gene Kelly Summer Stock Dance

Duration : 0:5:1

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Pink Floyd – Money

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Pink Floyd
“Money”
Dark Side of the Moon

Duration : 0:6:12

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PERU: Opportunities for Investment

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Opportunities for Investment in Peru. Oportuniades de inversion en Peru.

Duration : 0:7:24

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The Financial Crisis…Simplified

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Hank (and Hank and Hank and Hank and Hank) give an extremely simplified account of how we got into such a terribly gigantic financial mess in America.

Duration : 0:4:1

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What You Should Know About Those Debit Card Overdraft Fees

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I know that there are times that I would rather use my credit card to make a purchase but my conscience tells me to use money that I have, not spend money that I don’t have. For the most part I listen to my conscience. I have like most people experienced a few overdraft fees in my life time because of it. You would think that, just like a credit card if you don’t have the funds, the card would be declined. All the banks use that card to their utmost advantage by letting you spend money that isn’t there. They happily cover what you don’t have and then charge you those large overdraft fees.

Unfortunately for the bank customers this is a very common practice all across the U.S. That may change in California soon due to some recent class-action lawsuits. This is what normally happens. You have a set amount of funds available in your bank account, you then use your card multiple times throughout the day and spend more than what you have. Instead of the bank issuing one overdraft fee for the overall money they will now charge you an overdraft fee of ALL the purchases you made that put your bank account into a negative dollar situation. The real question here is, does this make any sense? You OBVIOUSLY didn’t have the money in the first place but the bank has the nerve to charge you MORE MONEY (that you don’t have) to make the situation even worth.

Bank of America, Wells Fargo, and Citibank are the three banks that are under suit in California. Citibank states that the law suit is without merit. All the banks spend vast amounts of money on advertising campaigns designed to draw us into their bank as a “Valued Customer”. If we are, as they tell us a “Valued Customer” then why did they allow us to spend more than we had available. It would seem to me that the cost to their profits is the real reason why they seem unwilling to do anything about this situation.

Debit Cards are a great way to stop us from over spending and budgeting all we now need is for the banks to do what is RIGHT for us. Lets hope the law suit in California forces the banks to rethink this policy.

Paynet Systems – Efficient Credit Card Processing and Merchant Services

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Paynet Systems is a registered Merchant Service Provider of Wells Fargo Bank, NA, that caters to the growing need of electronic processing of credit cards and Merchant accounts. Providing sophisticated services to merchants, businesses and banks across America, Paynet Systems has come to establish a loyal customer base, creating a comfortable niche for itself in the payment systems industry. Experienced professionals and industry experts at Paynet Systems make work in this complex and volatile industry, progressive, competitive and fruitful!

Paynet Systems located in Atlanta, Georgia, continues to service every kind of business, be it retail, wholesale, restaurant, hotel, professional, internet businesses or mail order. Committed to provide valued services, Paynet Systems individually designs programs best-suited for every merchant. These tailor-made services lead to high levels of customer satisfaction, making for a financially strong and faithful merchant base!

Opening an account with Paynet Systems is simple, and has its perks! For instance, get an approval within 24 hours, wholesale equipment prices, no long-term contracts and no annual fee. Besides, Paynet Systems accepts all major credit cards including Visa, MasterCard, American Express, Carte Blanche, Diners Club and Discover. Also, the Credit card processing and merchant accounts services provided by Paynet Systems are reliable, secure and immediate! For more information, read the privacy policy of Paynet Systems. Our customer testimonials provide you an in-depth insight into our work culture, ethics, and professionalism!

Paynet Systems is the best solution for your Credit Card processing needs. There is no monthly minimum requirement, no annual membership fee, no daily batch fees nor cancellation fee! For further details and information visit www.paynetsystems.com or call toll-free at 1-800-809-1989 .Our customer service executives will answer all your queries and put to rest your concerns, twenty four hours a day, seven days a week! All our customers are valued! Sign up with Paynet Systems to be one of them!

Basics About Stock Trading

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New investors are often understandably confused by how stocks are priced. The bewildering truth is that in many cases there are two prices, mysteriously called the bid and ask. The discrepancy results from the fact that stock is always being bought and sold. From the investor’s viewpoint, the bid is the price when selling, and the ask is the price when buying.

Imagine the person you’re buying from. This person actually exists in the form of a market maker, a professional from whom investors buy and sell. A market maker is simply a product distributor, and stock is the product. Like any other distributor, a market maker earns money by marking up the cost of the product. Since market makers buy and sell this product all day, they price it differently depending on whether you are buying or selling. Obviously, they charge a higher price to buy stock from them, and offer a lower price for stock you want to sell to them.

The difference between the bid and the ask is called the spread. It is sometimes possible to beat the spread (buy stock lower than the ask price, or sell stock higher than the bid price) by placing a limit order between the two prices. In a volatile marketplace, the prices are always jumping around, but they remain tied to each other. In high-volume stocks, the spread is small, sometimes just 1/16 of a point which is .06

There is a thrilling moment of empowerment before you make your first online stock purchase. You are playing in the market right there alongside the big boys of Wall Street. Before you set the wheels in motion by clicking that on-screen button, there are some basic decisions to make.

Are you using a market order or limit order? Market orders direct the brokerage to buy and sell stock at prevailing prices as soon as you place your order. Limit orders define the price you’re willing to pay or receive. When placing a limit order, you must decide whether it should expire if not filled by the time the market closes (a day order, or good for the day), or should remain open until you manually cancel it (a good till canceled order). (Note: Most online investors use limit orders as a matter of course, never placing a market order into a volatile stock market. Limit orders should be strongly considered when buying volatile stocks, and can’t hurt when buying in calmer waters. Market orders, by contrast, can hurt very much if your broker executes your trade at a price much higher than you expected.)

Article was written by wallman Hot Penny Stocks

Mortgage Broker Careers

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Mortgage Broker

A mortgage broker is someone who arranges mortgage loans for individuals and businesses. He is different from a loan officer who is the employee of a particular lender. Mortgage brokers are the largest distributors of mortgage products in developed mortgage markets like the U.S., Australia, Spain, Canada and the United Kingdom. People tend to confuse mortgage brokers with lenders. A mortgage broker offers loan products from various lenders to borrowers. He actually works with a number of lenders, and therefore has information about various mortgage options that are available, and is able to advise and help the borrower in securing a mortgage loan.

The lender is the one who actually funds the loan. The mortgage broker does not have any funds of his own involved in funding a mortgage loan. As the role of a mortgage broker is of a vital nature, most people prefer to engage the services of a CMP (Certified Mortgage Planner) who is licensed, and has to undergo rigorous training and tests before receiving certification. CMPs work in concert with CFPs, or Certified Financial Planners, to ensure that the best products are available to the borrowers of home mortgages.

Functions

Nowadays, due to competitive market conditions, lenders have a plethora of offers at various rates. Since the general borrower is usually not conversant with financial products, a mortgage broker is able to advise the consumer on the best offers according to his needs. The broker also takes care of the entire procedure of securing the mortgage for the borrower, along with proper advice regarding the mortgage and the property offered against it. Mortgage brokers are especially useful for borrowers with poor credit records. Since they often find it difficult to secure a mortgage, the broker is usually able to obtain the required finance, as he is in touch with different lenders and is aware of their terms.

A summary of the work of a mortgage broker includes:

-Marketing for client generation
-Making as assessment of the borrower, based on credit reports and income documentation
-Recommending a suitable product, according to the financial standing and need of the consumer
-Making an application for a pre-approval lender’s agreement
-Compiling all documents that need be submitted for mortgage processing
-Correctly filling in the details required in the lender’s application form
-Clarifying and explaining the requirements of legal disclosures
-Forwarding completed forms and documents to the lender

The mortgage broker’s services are limited to providing assistance up to the closure of the mortgage loan. Once that is done, all dealings are thereafter to be between the lender and the borrower.

Earnings

The earnings of mortgage brokers are from commissions payable for bringing together lenders and borrowers. Generally, the borrower pays it in the form of additional loan points or closing costs, which is paid to the mortgage broker only after closure of the loan.

A career as a mortgage broker is very satisfying, and involves helping people obtain loans against their homes, at rates suitable for their requirements. A mortgage broker can also help homeowners sell or purchase property within their specified requirements, due to his vast connections with lenders and other borrowers of home loans. It offers handsome financial rewards for services rendered.

What Can you Do to Sky Rocket your Click-through Rates and Earn Extra Money Online?

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Welcome to the best ways to earn extra money online, and because this is the best way it is also the easiest way. Start to earn money from home now! Join our affiliate marketing program right now and MoreNicheâ??s team of experts will help you and guide you so you can start to make money online today!

This is the exciting world of internet affiliate programs youâ??ve heard so much about. When you search for the best ways to earn money from home, itâ??s us youâ??re looking for. We are sorry if you had any bad experience with other affiliate marketing networks, but you should always be on your guard and detect cheap scams before they can rob you of your hard earned money! After all, you want to make money online today, not to waste your time.

Our affiliates act as our middlemen, sort of shop windows for our prospective customers. And any conscious marketer wants its shop windows to look as neat and as exciting as possible. You want your visitors to enjoy your website and get them in an â??I-want-to-buyâ? mood when you direct them to our website. We need them that way to close the deal and help you earn extra money online. This is all you have to do when you join our affiliate marketing program if you want to earn money from home.

What can we do about it so you can start to make money online today? First of all if you already have a website and want to make money with it but you are not sure about the design our graphics our web designers can help you. They will design banners, they will advise you on a color theme and anything else you care to ask them.

Of course you may choose to have them build your website from the ground-up while you ponder more pressing issues of your emerging business. Truly our affiliate marketing program is the best on the internet!

This is a win-win situation for everyone. Our internet affiliate program is a winner: the customers get to browse fun and exciting websites, the affiliates earn extra money online and are rewarded for innovative ways to promote our products and we get a bunch of customers ready to try our excellent products!

Multiple Advantages With Debt Consolidation Loans

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Have you lately lost your sense of freedom due to piling debts?

Do you spend sleepless nights discovering ways to earn more to repay back all existing debts?

Do you have a bad credit history in addition to multiple debts?

Are you failing to make timely payback of EMI of several loans existing together?

If the road ahead seems dark and you are not sure how to proceed, then debt consolidation loan is just the way out.

What are debt consolidation loans?

Debt consolidation loans are loans that help you breathe easy. They are loans you can avail to pay off all your current debts and loans in one go. You can then do away with the multiple debts and pay the EMI for just one loan.

Why are they useful?

Debt Consolidation Loans are boons in disguise. They are loans that help you manifolds.

1.You need not pay the EMI for several loans each month. Your debt consolidation helps you repay all your lenders the full and final amount.

2.You just pay for one loan and the monthly instalments can be really low.

3.Debt Consolidation loans are available at very competitive rates.

4.You have a better financial history and can give it a good boost so that the next time you ask for a loan, you have more willing lenders.

5.You get your peace of mind back and do not have to keep avoiding your lenders.

You can go for online debt consolidation loans which are available at rather cheap interest rates. Low interest rates brings down the APR and therefore you pay only a minimum amount as monthly interest apart from the principal amount.

When is the time to go for debt consolidation loan?

-when you are paying high interest charges on your current loans and you want to go for a cheaper alternative.

-when you need to decrease the amount of your monthly pay backs.

-when you want to give your credit history and financial situation a better look.

Three Reasons Not To Believe Free Investment Advice

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How many times have you heard the old saying if it sounds too good to be true it probably is? Well the same goes for free. Free is nice but sometimes you get what you pay for so check out these three reasons not to believe free investment advice.

Of the three reasons not to believe free investment advice training is very important. The internet has changed how we do a lot of things including investments. We can buy and sell stocks all with just a couple of keystrokes. It’s very easy to open a business as an investment advisor for free.

But who says what kind of training they have if any at all. Are they just playing with your money and risking it all. After all they have nothing to loose right? If they offering their service for free be skeptical about their training and be wondering about agenda. Of the three reasons not to believe free investment advice this one really needs your attention!

Number two of the three reasons not to believe free investment advice is that they will often offer you free investment advice that points you towards a specific stock or stocks. The advisor may be pushing stocks that they might have a vested interest in or they making money off your buys which is how brokers get paid. What ever their motive there’s a good chance that you are no more than a pawn in a game and there’s a really good chance that you are not going to benefit from the experience which is of the three reasons not to believe free investment advice this could be the most important.

We said there were three reasons not to believe free investment advice so here is number three. What type of information are they asking for? Personal information? Credit card information? When someone offers up free investment advice make sure you know what the real cost is. Of the three reasons not to believe free investment advice this was has the biggest potential for damage to you personally.

There are plenty of other reasons other than these three reasons not to believe free investment advice but I’m sure you get the picture. Trusting your money with free investment advice is rather like trusting your life with an unlicensed doctor.

These three reasons not to believe free investment advice are probably the most important of all the reasons.

The Eight Stages of Debt and Financial Death

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In 1969, Elisabeth Kubler-Ross described the five stages that people pass through when dealing with grief and tragedy. These stages are typically thought of as only existing under the banner of death and dying but the loss of your financial position and social status can also bring great grief and similar emotions. I’ve modified her original five stages and added the additional stages of a financial death to create an emotional roadmap of financial death.

Denial – The “This can’t be real” stage. Often evidenced by feelings like “I can’t be behind on my bills, you must be mistaken” or “The payment can’t be late.”

Anger – The “Why me?” stage. Often this is evidenced by statements like “I’ve always paid my bills on time, how dare you pursue me for payment” or “I resent the fact you are a debt collector and contacting me for payment.”

Bargaining – The “If I do this, you’ll do that” stage. “If you give me just one more week I’ll have all the money together.” “If you let me keep the car I’ll pay you twice what it is worth in a year.”

Depression – The “Defeated” stage. “I’ve shamed my family and am not worthy to live.” “I am a failure and can’t face these financial problems.” “I’m ashamed and don’t want to tell anyone.”

Acceptance – The “This is going to happen” stage. The stage at which healing can begin to occur and the individual understands what can and must be done and it unable to continue to struggle anymore. Unless we can reach this stage there is not much hope of being able to return a healthy person to society and leave them in a position where they will be productive members again. They will otherwise be left emotional damaged and not whole.

Financial Death – The “It’s over” stage. That lowest most point at which the financial situation is so bad that it results in loss and often judicial intervention.

Resurrection – The “Time to move forward” stage. Every person that can pass entirely through the financial death stage can proceed to resurrect their new financial life from the ashes of their old one.

Rebirth – The “I’m doing better now” stage. After successfully passing through the stages of financial death a new financial life can open before the individual and allow them to rebuild their life.

Not all people pass neatly through all of the stages and the first five are not experienced in any neat order but people that live through a financial crisis do experience the majority of these stages.

Those of us that assist people with financial troubles will recognise the transition through these stages and understand that when consumers are in financial pain, they often lash out at those around them. It is just a normal and natural emotional function of the financial death process.

Report: Combined Consumer Education and Increased Security Measures Equal Reduced Identity Fraud

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While surfing the ‘net, I came across a report about the reduction of identity theft and identity fraud. Obviously, it caught my attention. Following, in part, is that report which was produced by Javelin Strategy & Research, and co-sponsored by CheckFree Corporation, Visa Card, and Wells Fargo & Co.

While identity theft remains a multi-billion-dollar problem for businesses, organizations, and individuals, incidents of the fraud dropped significantly last year, according to a report.

Identity fraud occurring in the United States declined in 2006 by 12 percent over the year before, from $55.7 billion to $49.3 billion, according to the third-annual survey by Javelin Strategy & Research. The survey, which involved 5,000 telephone interviews, estimated the number of victims dropped for the fourth consecutive year by about 500,000 to 8.4 million persons.

Researchers attributed the decline to better consumer education and awareness and increased use of online banking and financial sites that allow closer monitoring of accounts. “Businesses are doing a lot more, law enforcement is doing more, and so are consumers,” said James Van Dyke, president of Javelin, a research company in Pleasanton, Calif., specializing in financial services and payments.

Tena Friery, research director at the Privacy Rights Clearinghouse, a nonprofit consumer organization in San Diego, said she was surprised by the size of the decline but said there is much greater public awareness.

“We still have a long way to go,” she said.

According to the report, there was a significant reduction in fraudulent new-account openings, traditionally one of the most common kinds of fraud. It occurs when a criminal uses a victim’s personal data to open a new account.

The survey also found that it takes on average less time and expense to resolve a fraud case than last year. When fraudulent accounts are opened, the average fraud amounts dropped from more than $10,000 in 2005 to $7,260 in 2006. Resolution times dropped from an average of 25 hours in 2005 to five hours in 2006.

Van Dyke said one reason the numbers are down is that businesses are “screening account applicants much more closely.”

Individuals and consumer groups have long argued that extra screening was needed because conflicting application information, such as two addresses, could indicate identity fraud.

One group that isn’t doing better, according to the report, is 18- to 24-year olds. This age group was more likely to become a victim of identity theft than other age groups. (See sure to read my related article, Your Child’s First Year at College: Prime Target for Identity Theft?.

The report references offline criminal activities; however, I do believe that incidents of identity theft have remained unchanged online. One example is stated above, with cybercriminals targeting recent high school graduates and college freshmen.

Unfortunate victims, these graduates and college freshmen provide extremely lucrative opportunities for the cybercriminals to obtain their personal information. Even before they start their first careers, these graduates and college students will, most likely, be crippled by identity theft.

To protect yourself, you need an internet security team of experts making sure that you, your family, and your business computer are always safe and secure. The best protection you can have in today’s rapidly changing world of cyber-attacks is to have expert support for all your Internet security needs that will provide technical support without any hassles and without charging you extra fees. It will become even more critical than it is today as time goes on. You need to find your own personal team of experts to rely on. If you ever have a security problem, you will want to have a trusted expert you can call for professional help, without any hassles and extra costs!

Because cybercriminals are becoming smarter and more sophisticated in their operations, they are real threats to your personal security and privacy. Your money, your computer, your family, and your business are all at risk.

These cybercriminals leave you with three choices :

1. Do nothing and hope their attacks, risks, and threats donâ??t occur on your computer.

2. Do research and get training to protect yourself, your family, and your business.

3. Get professional help to lockdown your system from all their attacks, risks, and threats.

Remember: When you say “No!” to hackers and spyware, everyone wins! When you don’t, we all lose!

© MMVII, Etienne A. Gibbs, MSW, The Internet Safety Advocate and Educator

Best Credit Cards – How to Find the Right Card for you

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On question often asked is “what’s the best credit card available?” The truth of the matter is that there is no one credit card available that is the best for everyone. Choosing the right credit card for you has more to do with your credit card spending and repayment patterns than anything else.

In order to find out which credit card is best you need to think about your credit card usage. For example, do you pay the balance in full each month, do you carry debt over and incur interest and so on. See which of the statements below fits your credit card usage.

“I don’t pay by credit card bill in full each month”

If you carry a balance over from month to month, you need to look for the lowest rate interest card available. Some cards charge high rates of 18% and upwards per annum, others charge less than 10% per annum. The interest rate makes a huge difference to the monthly minimum repayment amounts and also the ease at which you can pay down debt. A low interest rate is more important than a rewards program if you are carrying debt.

“I only use a credit card occasionally and normally pay it off each month”

If you are a light credit card user and tend to pay it off in full each month then the most important factors to consider will be the cards annual fee and the number of interest free days on purchases. Many credit card issuers have cards with no annual fees. They tend to offer less in the way of rewards schemes but as a light user you are unlikely to benefit from such schemes. Look for cards with a low or no annual fee offering instant rewards and discounts. These are partner offers that can be used at any time without accumulating points.

“I buy most things with my credit card and then to pay if off each month”

If you do most of your spending via your credit card and tend to pay it off each month then you may benefit from a credit card offering a rewards scheme. Often rewards credit cards have higher interest rates or annual fees than other types of credit cards. However, interest rates are not important so long you pay the bill each month and the rewards could well exceed the card fee. Frequent flyer credit cards are the most popular type of reward card. A spend of around $2000 per month can earn the equivalent of 4 short haul return flights per year with many airlines.

Other factors to consider when choosing a credit card

Interest free days:

When looking for the right credit card for you, you will find that there are two main types of credit cards: those that offer interest free days and those that don’t. Generally, those that offer interest days charge a higher interest rate after the end of the interest free period or charge an annual fee to compensate. Many credit card companies now offer to up to 55 days interest free on purchases. Cash advances normally incur interest straight away and often at a higher rate than purchases.

Late payment penalties: When evaluating which credit card is right for you, it is important to consider the late payment penalties. If a late fee is charged, what is it? Is an increased interest rate also enforced as a penalty? Some companies more than double your interest charges if you pay late even by one day.

Customer service: It is also helpful to consider a company’s track record in looking after their clients. Why not phone the customer service lines of your short listed credit card companies? Who do you want to deal with? Are you kept on hold for an excessive length of time before someone takes your call or are you answered quickly? If you can’t get good customer service from a company, you should probably forget them. Another important consideration is whether they are using overseas call centres that have access to customer’s private details. If you don’t have a problem with this, fine.

Conclusion

If you intend to use your credit card to pay bills and will pay the complete balance each month, look for a credit card that offers the best value in terms of interest free days and rewards. However, if you are going to be in debt from month to month, look for the lowest interest rate, lowest annual fee and fairest calculation of penalties (because things can go wrong sometimes).

If you are juggling a number of credit cards of varying interest rates and have overall high monthly payments because of credit card debt, then consolidating your credit card debt on one low rate interest card could be the answer you are looking for. By consolidating your credit card debt on one low rate card, you will dramatically reduce your minimum monthly credit card costs and improve your ability to pay down debt.

Debt consolidation, using a low rate credit card, can also provide more flexibility than a personal loan. If an emergency occurs then the credit is still there to use. The obvious risk to this, however, is using the credit and never getting out of debt. Debt consolidation with a credit card requires discipline and commitment to get out of debt.

Best Credit Cards Summary – The right credit card for you

Carry balance over each month = Low interest credit cards

High levels of existing debt to pay off = Low interest / balance transfer credit cards

Pay balance off in full each month / low credit card usage = no annual fee credit cards

Pay balance off in full each month / medium-high credit card usage = rewards credit cards

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