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DebtSmart® Email Newsletter
May 3, 2006

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

 
Letter from the Publisher
by Scott Bilker

Hi,

Consumer Action just released its 2006 handbook. This everyday guide to being a smart shopper is chock full of helpful tips about buying a car or home, preventing identity theft, understanding credit, resolving problems after a purchase, and much more. In the 2006 edition, you'll find new information about Medicare prescription drug plans, free credit reports, and digital TV. You can get the book free here.

Money magazine released its list of the best jobs in America. This detailed list includes salary information as well as other statistical information about each profession. Software Engineers top the list with an $80,427 average salary and 10-year job growth forecast of 46.07 percent. You can see the list here.

Best,
Scott

 
14 ways to handle your debts
by Scott Bilker

There is always much advice about handling 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.

Finish reading article

 
"I saved $1,334 per hour. It was so easy!"

"I spent about 2 hours reading this book (Talk Your Way Out of Credit Card Debt), getting comfortable with the strategies. Then, after my first phone call, which saved me $210 per year, I was off and running! I was able to reduce my interest rate by as much as 9%. I called all six of my Mastercard/Visa companies and was able to save $1,983 per year from the finance charges plus having a $59.00 annual fee removed and a late fee removed ($29.00). The $/hour saved ranged from $141/hour to $2,464/hour and averaged $1,334/hour. It was so easy!!"

Fred Robinson, Teacher, Milford, NH

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

 
Household Math™: Insurance With A Credit Card?
by Scott Bilker

Your auto insurance bill arrives; it's $600.00 for 6 months of coverage, ugh. Luckily, to make paying easier, they give you the option of spreading this out over 3 monthly payments. The catch is they charge you an additional "convenience" fee of $3 per payment. The same day you also receive a credit-line check offer from one of your credit cards, with no check fees, that is good for 3-months with a 5.99% APR. What's better (cheaper) to do?   Should you take the insurance company's payment plan offer or use the credit line (5.99% offer) check to pay the car insurance in full for $600.00. Technical Note: no matter which choice you make, you must pay off the $600.00 principal in exactly 3 monthly payments.

What's better (cheaper) to do and why?

Answer this problem

 
Mortgage Telemarketing--A Personal Story
by Jose Olivares

Scott, first I would like to thank you for all the good advice you have given me through your NEWSLETTER. In response to your question about our (readers) experience with telemarketers, I would like to share an experience that happened to me recently.

I, like many others out there, am looking to refinance my first mortgage at a lower rate than what I currently have. In my case, the loan is approximately $120,000 at 7.25% and also a second mortgage (home-equity loan) of $10,000 that I have at 12.25%. I decided to call a financial institution after receiving one of those infamous "you have been pre-approved" offers.

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 check out certain companies personally 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

 
What About Ben Franklin?
by Doris Dobkins

I was reading a book to my kids this week called "The Value of Saving". It was the story of Benjamin Franklin. When Ben was a little boy of around 8 years old, he was already thinking of things to invent that would save him time and money so he would have more of both.

One day, when he was walking along the sidewalk, he found a penny that a rich man had dropped. When he tried to give it back to the man, the man said he was an honest boy and could keep it. Do you know what young Ben did with that penny? He decided to save it so that when he needed it for something important, he would have it.

Finish reading article

 
Having a baby means more credit card debt for some Americans
by Amy L. Cooper-Arnold

A new baby—such a joyous occasion, and expectant parents often enjoy the process of planning for their arrival. Decorating the nursery, filling the closet with tiny outfits, stocking up on diapers, and test driving strollers are just a few of the things needed to be done before the great event.

But all these fun "to do" items can become very expensive, and without a little planning, new parents may find themselves buried in credit card debt.

Finish Reading Article

 
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COOL QUOTE

" What lies behind us and what lies before us are small matters compared to what lies within us."--Ralph Waldo Emerson on Perseverance
Quotes from all previous newsletters
 

IN THIS ISSUE #123

Cool Quote
Credit and Debt Statistics Database
Letter from the publisher
14 ways to handle your debts
"I saved $1,334 per hour. It was so easy!"
Household Math™: Insurance With A Credit Card?
Mortgage Telemarketing--A Personal Story
More credit, more options
DebtSmart® Help Center
What About Ben Franklin?
Stop Debt Collectors Cold!
Having a baby means more credit card debt for some Americans
DebtSmart® Resources
Subscribe/Disclaimer Information
Free DebtSmart® Column for in print publication, ezine, or web site
Hire Scott Bilker to speak
Advertising
Publisher: Scott Bilker
Editor: Larissa S. Bilker
Assistant Editor: Denise Troy

ISSN 1538-6740

 

Consumer Bankruptcy Filings

Significant increases in consumer bankruptcy filings occurred in every region. It tallied 2,043,535 new filings in 2005, up 31.6 percent from 1,552,967 in 2004--meaning that one in every 53 households filed bankruptcy petitions.
Credit and Debt Statistics Database
 
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Rating Your Credit Card

"CardRatings.com has been offering ratings of credit cards since 1998 and has been featured by Good Morning America, The Wall Street Journal, Consumer Reports®, NPR, PBS, etc. Thanks to consumers like you, CardRatings.com has become the most comprehensive free source for comparing credit card offers."

See how your credit cards are rated by CardRatings.com

 
Stop Debt Collectors Cold!

Stop Debt Collectors Cold! Plus four (4) special reports! Finally, a solution for dealing with these horrible collectors!

 
DISCLAIMER

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 ©2006 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.

 

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"The DebtSmart Email Newsletter is packed with cutting-edge strategies for solving credit problems. I highly recommend it."--Gerri Detweiler, radio host and author of The Ultimate Credit Handbook




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