Prisoner in Paradise Seeks Lifeboat
by Scott Bilker
Aloha Scott! I have about $20,000 spread over five cards (in three years time) in non-frivolous, "survival" debt racked up from rough times lately and inconsistent work, yada, yada, yada. I've been making minimum, never late payments and the occasional "transfer dance" to take advantage of lower interest rate offers. But man! Am I tired of the Dance!! --Roland
Follow up to "Jenni the Bill Collector"
by Scott Bilker
I received many responses to the last article, Jenni the Bill Collector. As you may guess, the negative remarks about the article came from bill collectors and the positive article comments from people harassed by bill collectors (the majority). But one response stood out so much that I had to share this with everyone.
Household Math™: What does Jenna owe?
by Scott Bilker
Jennafer read Scott Bilker's, Talk Your Way Out of Credit Card Debt and called her credit-card bank in the hopes of reducing her interest rate. Armed with the techniques from the book she was successful at reducing her rate by 5 percent to 9.9 percent! After doing the math she calculated that she would pay the debt back one year faster and save a total of $3,012! How much does she owe the bank--what is her balance now?
Jenni the Bill Collector
by Scott Bilker
I am a bill collector. What a lot of people forget is that what we do is our job. We do not come to your office and cuss you out because you wanted an 8:00 meeting. Under the FDCPA (Fair Debt Collection Practices Act) we are legally allowed to call from 8:00 am until 9:00 pm your local time.
Household Math™: Debt Snowball (Myth or Magic): Paying Back Lower-Balance Cards First
by Scott Bilker
David Sheepsley has two credit cards with balances. Card A has a balance of $8,000 at 19.8% and minimum payments of $160 per month. Card B has a balance of $6,000 at 5.9% with minimum payments of $120 per month. David has a total of $400 per month to use for repaying his credit cards. What's the better plan for David?
Saving for Your Child's Education: Can using a credit card today help you to avoid debt in the future?
by Rebecca Lindsey
Here's a news flash: children are expensive. Never mind diapers, food, clothing, computers, MP3 players, trips to the mall, etc. One of the biggest expenses your child(ren) will incur is college tuition. The cost of further education is ever on the rise, and even with scholarships the costs can be staggering.
Adventures of the Debt Daredevil: Car on Credit
by Scott Bilker
Car on Credit In his first mission, the Debt Daredevil takes on the evil used car salesman by helping his friend understand her financing options.
Getting Out of Debt
by Scott Bilker
A general question, for starters: I personally know folks who have high credit card balances, car loans, and other debts that are quite high. They're not in bankruptcy, but they feel so hopeless about ever getting out that they just can't stand to think about it. What would you say to such people? Is it as difficult as it seems? Why or why not?
Debt Under Construction
by Alyice Edrich
Warning: Americans are filing for bankruptcy at an alarming rate. Spending is out of control. Arguments over finances are destroying families. Financial stresses are among the top five reasons couples divorce.
Penalty Rates
by Scott Bilker
Scott, My interest was raised to 28% after "a few" (honestly) late payments. They told me they would review my info in 6 months. Do you think I have a chance of getting them to lower my rate? --Paula
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