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14 ways to handle your debts (1,222 Words)
by Scott Bilker
There is always much advice as to how to handle your debt. As with everything in life, there are pros and cons to each strategy. Picking the right path depends on your personal situation and of course, careful consideration of the costs. My feeling is that the best choice is the smartest financial choice. That means the least expensive strategy. That said, let's take a look at a few approaches to dealing with debt.
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Cash-out to pay off cards or keep debt? (735 Words)
by Scott Bilker
I have a 30-year home mortgage and $14,000 in credit card debt. My mortgage has 28 years to go to pay off and is at 5.875 percent. My credit cards are at 3.99 percent for the lifetime of balance to 10.9 percent--all fixed rates. Should I refinance my home with cash-out to pay the credit cards off then freeze them? I'm 57 years old and earn approximately $26,000 per year salary. Any advise for me?
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Refinancing your mortgage (2,335 Words)
by Scott Bilker
This document is the transcribed version of the video presentation. There are two streaming version available to view online. Both these version are in both the Windows Media Player format and the RealPlayer format. Additionally, there are two download speeds available for both versions for dial-up and high-speed Internet connections.
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Rising minimum payments (545 Words)
by Scott Bilker
Hi Scott!, I have really enjoyed reading all your great info about credit card debt. However, all this talk about rising minimum payments from 2 percent to 4 percent has got me worried. I'd like to plan for additional purchases like a new car before winter but I am unsure of my financial situation if my payments jump to 4 percent. I've called my banks for an answer but they have only told me they are in the process of determining whom these changes will affect. How can I find out what the future holds for me so I can move forward in my financial planning? Thanks so much far any assistance with this one! John
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Will a debt settlement adversely affect our credit rating? (592 Words)
by Scott Bilker
Scott, We are drowning in debt--over $80,000 in credit card debt, some at over 30 percent! We are taking a second out on our house to pay it off. Should we ask the credit card companies to lower our payoff amount for paying off the balance in cash? Will this adversely affect our credit rating? Even a 10 percent reduction would pay for a car for my son. Your advice is appreciated! Viola
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Balance transfer checks (465 Words)
by Scott Bilker
Scott, First of all your site is great! Received a blank check from my credit card company that can be used for either cash or purchases. It is a low 3.99 percent rate for life of the loan. The balance on my credit card has a variable 8.99 percent rate. Would I be able to write a check out for the balance on the credit card, deposit it in my checking account, and then turn around and send a personal check to the credit card company for the balance total thus lowering the rate from 8.99 percent to the 3.99 percent. Thanks in advance. MW
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5 Ways to Avoid Holiday Debt (1,152 Words)
by Scott Bilker
Between Thanksgiving and Christmas people are going to spend $121.4 billion using their credit cards! How are you going to pay for the gifts? Credit cards of course! I'm sure many people are going to criticize me for even suggesting such an idea.
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Problems with balance transfers (504 Words)
by Scott Bilker
Hi Scott, I have gone through the trouble the past few months to get a permanent, lower-interest credit card and also to get a promotional rate on the new card to transfer balances ($5,000 to $12,000). I go through the whole process and get approved for $1,000. I cancel the card immediately, because it's just not worth it. I canceled a card with $29,000 credit earlier in the year because I didn't want to support the company. What might be the problem? Seth
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Money books for kids (444 Words)
by Scott Bilker
Educating your children about money is one of the smartest, and most rewarding, financial moves for any family. It is in our childhood that we are conditioned to have emotions related to money. Many of these emotions, like fear of not having enough money, or having too much money, are not based in reality. These feelings can hold you back later in life so it's important to have an understanding about money from as early an age as possible.
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Balance transfer game (724 Words)
by Scott Bilker
Dear Scott, I have learned a great deal even from just a few visits to your site and my husband has as well! Our problem: We are both sole proprietors of our own businesses and have ridden the freelance rollercoaster for a combined 30 years. I am slowly working away at debt I accumulated when I was in massage school. My husband, however, has not always been so good at opening his mail, paying his bills on time...He gets offers for 0 percent intro rates frequently, but they have horrible default rates. SMP
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