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Excerpt
from Talk Your Way Out of Credit Card Debt
Everyone wants to get out of
debt, but few are willing to do the work it takes to make this goal
a reality. As it turns out, looking into all your credit options is
going to be one of the best paying jobs you'll ever have. That's
because the money you save more than compensates you for...
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Equity
Issues
 Scott,
Problem is, our 2nd mortgage is a LOC
and the APR is drowning us! We want to pay off the LOC and our
credit card debt and have some cash to invest in renovations.
We are a single income family and as far
as debt to income ratio is concerned, we're not looking so good.
What to do? Alison
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Applying
for credit cards
 Scott,
How often can you apply for credit cards? Does it look bad on your
credit report if you apply for many credit cards? My husband and I
have 5 credit cards. Our credit rating is good, so most of our
interest on our cards are between 5 and 7%. We owe $19,000 and I am
currently emptying one of our cards so that we can transfer the
entire $19,000 using their 2.99% life-of-the balance rate. Thanks to
your many tips in your newsletter! Maria
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Running
argument regarding credit card debt
 Scott,
My husband and I have a running argument regarding credit card debt.
He gets very upset when I look at the offers we receive in the mail
to see if the APR is lower then any of the cards we currently have
and even think about transferring the balance. I am always
interested in the 0% offers, but he says that creditors don't like
to see you transfer balances over and over to 0% because it shows
that you can't handle the balance "load". Tracy
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I
am horrified--they want to know what I am going to do with the
money!
 Dear
Scott, I play the zero percent game every year and never ran into
this one. Yesterday I did a balance transfer at zero percent to pay
down my house. They gave me $20,000, which I will pay back in a
year. I was horrified that they asked me what I was going to do with
the money. Why all of a sudden do they want to know what I am doing
with the money? Greg
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Pickup
Payments
 Mr.
Bilker, I really enjoy reading your newsletter and have gotten
several good tips from it. My problem is that I have a 2000 dodge
pickup on which I owe about $13,000 on and it is only worth around
$9,000. I am about halfway through a five-year loan and am paying
$524.00 a month. I married recently and am having a baby soon so I
need to find a way to either get rid of this pickup or lower the
payments. What would you recommend? Any advice would be appreciated.
Thank you. Tracy
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Thanks!
And a Question About FICO Scores
 Hi,
Scott, FICO scores seem like the king of the credit world, and the
scoring system is so secret and counterintuitive that it's
frightening to me to make ANY changes with my credit card
"portfolio". I'm eager to pursue more of your advice, but
am terrified of damaging my credit score (which is in the low-mid
700's)....Thanks again! Love your stuff. Judd
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Choosing
a debt counselor
 Scott,
I am interested in finding out about credit counseling...an overview
of what it entails and how to choose a person or organization.
Questions to ask and what to look for. I need outside, ongoing help
with changing my habits in regard to money. Your help is much
appreciated. Heather
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Calling
banks for my 82-year-old mother
 Scott,
I help my 82-year-old mother pay many of her credit card bills.
She's scared to call the credit card companies and I don't want to
be added as an authorized user or they will show up on my credit
report. Is there a service that she can give a power of attorney to
that will call the credit card companies on her behalf? Currently,
she is NOT past due on any credit cards--but that will change if we
can't reduce these interest rates. Thanks! Brian
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Good
credit rating but too much debt for low rates
 Scott,
I just found your website in a
book I am reading from the Rich Dad Series. I am in business for
myself for 8 years now. I have high CC debt all for the most part
business debt. We always pay our bills on time. Recently though the
CC companies started raising their interest rates on us and lowering
our limits dramatically. Some to the tune of 35%! What can we do? Bob
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