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Saturday, January 19, 2019

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Helping a friend with debt   (1,139 Words)
by Scott Bilker
My best friend is having severe credit card debt problems after a period where he had to use the cards after being laid off and having difficulty finding work and also unexpected medical bills that accumulated during his time off work. He has a balance hovering around $33,000.00. Using your suggestions I have helped him get reduced (temporary) finance charge percentages and have transferred some of the debt to lower interest cards (thanks to you!). The problem is, while he is currently able to make the monthly payments he is BARELY able to do so. Should he seek credit counseling or debt reduction?
 
Paying off debt is hard work   (1,328 Words)
by Scott Bilker
Scott, Your advice on several topics lately has been about moving around debt to produce the lowest APR or the most savings to consumers. However, it does not cover anything about the hard work of actually paying off the debt. The point of this website should be to pay of your debt and not just pushing it around from one account to another. Joseph
 
David's Talk-Your-Way-Out Results    (1,227 Words)
by Scott Bilker
David S. sent me a wonderful email. David wrote to me to tell me about how well he has been doing by negotiating with his banks. Nothing pleases me more than hearing about the financial successes of my readers! This article is about that success. You'll notice how detailed and systematic David is with his notes. They're short, to the point, dated, and will provide him with a reference when following up in a few months.
 
Fighting an Increasing Rate   (320 Words)
by Scott Bilker
I received a notice with one of my invoices that they would be increasing the rate to 20% and that I basically didn't have a choice in the matter.
 
11 Easy Ways to Cut Your Spending Without Feeling It   (608 Words)
by Scott Bilker
There are three main points to be addressed when reducing debt, specifically: (1) Getting organized financially; (2) Becoming more efficient with your current debt and spending; and (3) Generating more income. Here are some suggestions to expand on number (2) specifically as it applies to spending.
 
Dental Surgery Funding   (433 Words)
by Scott Bilker
Hi Scott, I need some very expensive dental surgery and work. I was wondering if you could suggest a strategy/strategies to fund this $8,500 expenditure over a two year period interest free. I have an excellent credit score (800+). I know that during the process, I can shop for balance transfer offers; however, I'd prefer to find a card with 0% on purchases for 24 months or do a series of transactions to perform the equivalent. Bob R.
 
Living above my means for years--what now?   (573 Words)
by Scott Bilker
I've been living above my means for years, using credit cards to pay for the difference from what I make and what I spend. I can't be denial much longer as the cards are getting to their max. I currently don’t' have any past due payments since I still use the credit cards to offset what I can't pay. What do you recommend I do?
 
Capital One, and other, banks’ tactics that might shock you   (1,024 Words)
by Scott Bilker
I called myself to try and keep the account open and, for the most part, the banks are not agreeing. They tell me that, "these decisions are in response to the current credit crisis." Gee, I'm thinking that, "huh, the banks blew it to the tune of $300 billion because of bad decision making and now, they're next move is to close the accounts of they're profitable, and potentially profitable customers." Yeah, that's a good move--duh! What are they thinking! Talk about cutting your nose off.
 
Rate jacked-up to 21.99 percent   (682 Words)
by Scott Bilker
Last week my Bank of America American Express card took a major rate increase. I had a fixed 7.99% rate which I enjoyed for two years. I carried a high balance on this card because I purchased a nice motorcycle with it two years ago. My rate went from 7.99% up to 21.99%. No late payments to them or anybody else.
 
Paying back only 19 cents on the dollar   (186 Words)
by Scott Bilker
I’ve helped people do these negotiations and I’ve help teach other how to do it themselves. Nothing makes my day more than receiving the success stories of those that have read my book and saving a bundle on their own! This one is great…
 
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