ISSN 1538-6740
August 24, 2005 Issue 105

Tools for financial success! A Free Email Newsletter from DebtSmart Online and Press One Publishing.

Publisher: Scott Bilker

Cool Quote

"Control your destiny, or someone else will!"
--Jack Welch, CEO of GE

Quotes from all previous newsletters

Letter from the Publisher 
by Scott Bilker

Hi,

A few items for this issue...

ATTENTION newspaper editors, website owners, and fellow ezine publishers. I've developed a new method to deploy the DebtSmart Columns and articles. They are available for you to use for FREE on your website, in your ezines, and in print. Click here to sign up right now!

Well, I guess you can tell that it was time for a new photo. My wife insisted I get new frames to diminish the George Costanza-look I had with the old glasses. Hope you like it!

Click here to listen online to my latest interview with Gerri Detweiler on her wsRadio Show, EveryDay Wealth. We talk about my article, 10 reasons to hate your credit card bank, negotiating with banks, and more. Gerri is not only a great host, she's also an accomplished author, consumer advocate, and wonderful person who truly wants to help people understand money!

Regards,
Scott 
PS: If you are interested in advertising with DebtSmart.com, please complete the form here.

Cutting Up Credit Cards
by Scott Bilker

Hello,

My wife and I have a lot of credit cards. WE would like to cut them up so we don't use them. Should we notify the company's first to cancel them? We are having trouble paying them. Thanks for your help.

Richie

Finish Reading Article

"We managed to get $34,000 of debt relieved by using your techniques."

"Scott,
 I just had to thank you. I'm still not sure how we ended up with $129,000 worth of credit card debt. Yep that's right, $129,000! We don't have a boat. We don't have cars. We haven't been around the world. We did have four cards with over 24% interest with massive balances and after my husband was unemployed for 8 months I slowly started unfolding what a financial mess we were in. (Still are to be truthful.) BUT, I saw your book, "Talk Your Way Out of Credit Card Debt" and bought it. What an investment! We managed to get $34,000 of debt relieved by using your techniques. Okay, with still many thousands hanging around our necks the road ahead is not an easy one, but you started us on the road to recovery. It was the best $19.95 I've spent in my entire life! Thanks!"
--Sara V. Olds, UT

Read about special offer for all three of Scott Bilker's best-selling books

Household Math™: True Rate of Transfer Offer
by Scott Bilker

You're offered a balance transfer from one of your current credit lines. The offer is for 4.99% fixed with a one-time 4% transfer fee. You transfer $5,000 and pay $100 per month until the loan is repaid. What is the true APR for this loan when you include all interest rate charges and fees?

Answer this problem

Featured Credit Cards Can Save You Money Now!
by Scott Bilker

Your best defense against any one bank is to have credit options--to be able to transfer your balance to a lower rate. That's your only real power against high fees. That's how to be DebtSmart®! Make the banks fight for your business! Be sure to add this web page to your favorites list so you can keep applying for new credit when you need it. Which credit card is right for you? Select from the list below and apply online right now!

Choose from the list of featured credit cards

 
How to save money on your phone service within minutes!
by Scott Bilker

For a limited time, I'm going to throw in a free download of my DebtSmart Loan Calculator ($9.95 value) when you sign up for this prepaid phone service. Both the calculator and the phone service are worthwhile or they wouldn't be here. I personally wrote the calculator software and stand behind it.

I always use everything I recommend to make sure that it's good! Ready for this...their claims are 100% true! Great service! Great price! I signed up for $25 and got the free minutes. So the total time I received was 1,578 minutes! That's 1.58 cents per minute!

The online reporting was instant and accurate! This is all I'm going to be using for a while. If you let them know what numbers you're calling from, and call their local access number, you get the lowest rate and you only have to enter the PIN to make the call. It's easy to use, cheap as can be, clean connection, organized online, and simple. Works just like you would want and expect!

My phone service is getting me for 10 cents per minute for in-state calling and 7 cents per minute for long distance! What a rip! I can't believe I've been overlooking this big potential savings. I'm going to easily cut my phone bill by two-thirds! I figure that I'll save $1,000 per year with this new service.

Read more about phone savings

Second Mortgage Rate and APR
by Scott Bilker

Scott,

Why is it a different price for the quoted loan interest rate, my mortgage company Quicken Loans, quoted me 6.55 on a second. Then when I get the papers to sign, the APR fair credit paper states 7.1 for the interest rate. Is the mortgage company trying to be dishonest and not really give me the rate quoted? I don't understand; please help me. Thank you!

Pam

Finish Reading Article

DebtSmart® Help Center 
by Scott Bilker

Hi,

Helping you with your debt is very important to me personally! If you've been reading my articles, you know that I always encourage self-help as a first step. However, being buried in debt can be very overwhelming, which is why you may want to explore other options.

One of those options is professional, ongoing help with credit counselors. I've started to personally check out certain companies so I can recommend the ones that are worth considering!

If you would like to speak with a representative from a...

Read More at the DebtSmart Help Center

Equity Issues
by Scott Bilker

Scott,

We have been upgrading our fixer upper and are interested in continuing the process. 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. We are hopeful our "sweat equity" will be sufficient to borrow against. I am not so keen on this approach but my husband is in the building trade and feels our only way is up as far as property value is concerned. What to do?

Alison

Finish Reading Article

DebtSmart® Books, software, reports, in-print and downloads

Archive of DebtSmart® Email Newsletters online

FREE DebtSmart® Column for in print publication, ezine, or web site

All recipients of the DebtSmart® Email Newsletter signed up voluntarily for the newsletter via our website.

SUBSCRIBE to this newsletter

Please contact comments@debtsmart.com with any comments, problems, or concerns.

The author(s), Press One Publishing, and DebtSmart.com shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this email newsletter and/or at the DebtSmart.com web site. The information, methods and techniques described may not work for you and no recommendation is made to follow the same course of action. Every effort has been made to verify the accuracy of all content contained herein. However, there may be mistakes; typographical, mathematical, or in content. This email newsletter and the DebtSmart.com web site have been created for your entertainment only. You must always seek the proper professional advice before taking any financial or legal action. You have been warned.

Copyright ©2005 Press One Publishing. All rights reserved. Please do not reprint, or host on your web site, without explicit permission. However, if you found this newsletter helpful, we grant you permission, and strongly encourage you, to e-mail it to a business associate or a friend. Thank you.