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DebtSmart® Email Newsletter
May 2, 2007: Issue #149

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


" Never borrow any amount of money larger than you can comfortably pronounce."
--Dave Barry, humorist
Quotes from all previous newsletters


Letter from the publisher
Cool Quote
DebtSmart® Recommended Products and Services
11 Easy Ways to Cut Your Spending Without Feeling It
DebtSmart® Amazon aStore
Statistics: Spending Confidence
"MUCH lower rates on my credit card"
Household Math™: Susan is loanly
Stop Debt Collectors Cold!
Credit Secrets Bible
How to Cancel PMI
More credit, more options!
Free DebtSmart® Column for in-print publication, ezine, or web site
Books, software, in-print and downloads
Archive of Email Newsletters online
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Publisher: Scott Bilker
Editor: Larissa S. Bilker
Assistant Editor: Denise Troy

ISSN 1538-6740

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Spending Confidence

Only 26 percent of those making less than $40,000 annually feel they are in a good position to buy, while 71 percent feel they are not. In sharp contrast, 60 percent of those making $75,000 or more feel they are well-positioned to spend, while only 38 percent of these consumers feel they are not in a good position to buy. Among those making $40,000 but less than $75,000, 44 percent feel they are in a good position to spend, while 53 percent feel they are not.
Read more credit card and debt statistics

DebtSmart® Recommended

Integrity Debt Solutions
Debt Free in 18 mo. Stop payments NOW! A better life for your family.

Credit Secrets Bible
Raise your credit score! Learn how to fight back against those who are making your life difficult--and holding you back!

Discover® Platinum Wildlife
Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%.
Advanta Platinum BusinessCard with Unlimited Rewards
Intro Rate: 0.00%, Time Period: 15 Months, APR: 7.99%.
Citi® Platinum Select® MasterCard
Intro Rate: 0.00%,
Time Period: Up to 12 Months, APR: As low as 8.49%.

Blue from American Express®
Intro Rate: 0.00%, Time Period: 15 Months, APR: 4.99% (for life on transferred balances).

Advanta Life of Balance Platinum Card
Intro Rate: 2.99%, Time Period: Until Paid

Chase Platinum Visa®
Intro Rate: 0.00%, Time Period: 12 Months, APR: 14.24%.

Discover® Platinum Card
Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%.

Letter from the Publisher
by Scott Bilker


Avoid being maxed out! Hey, you know that movie Super Size Me about the guy who ate at McDonald's until he nearly exploded? Well, there's another documentary movie out that is the "Super Size Me" of debt titled, Maxed Out. Director James Scurlock asked me about being interviewed for this movie around June 2004, however, I didn't make the final cut. I guess I couldn't sing as well as Sanjaya. ;)

It looks like a great movie (from what I've seen so far). You can see clips, and learn more about the film here.

If you're looking for a more "Christian Perspective" on debt relief, then check out Integrity Debt Solutions. They explain how debt forgiveness is linked to scripture and debt elimination. I find the site to be well done. Remember though, as with any service, you need to first get the free consultation and then compare that to other solutions for your specific situation.

Recently, I ran across a great consumer website where you can look up complaints from people that have been ripped off. From their site, "Unlike the Better Business Bureau, we do not hide reports of 'satisfied' complaints. ALL complaints remain public in order to create a working history on the company or individual in question; unedited."

DebtSmart reader, Diane Ayers, sent me this email message and it made my day! "I have to say DebtSmart is one of the best email newsletters I have ever subscribed to. Not only does it help me keep debt under control, it tells me how to make it shrink and keep going on with life without the worry of constant debt. Also, it expands on things that we do everyday. It just keeps getting better and better. My favorite part of the newsletter is seeing people really open up and ask for your help or suggestions, and you reply in a compassionate manner that is not seen today. Keep up the good work; your newsletter will always be #1 with me." Thanks, Diane!

That's all for now!


11 Easy Ways to Cut Your Spending Without Feeling It
by Scott Bilker

It's clear from the "DebtSmart Survey Results: Cutting Spending vs. More Income" that most people believe that cutting spending is the faster way to reduce debt. Of course, this is certainly true to some extent. My position is that 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; (3) Generating more income.

Here are some suggestions to expand on number (2), specifically as it applies to spending.

1) SHOP ONLINE: If you have to make a large purchase; for example, computer, water heater, etc., ALWAYS check out prices online. Don't be tempted to get it at the local store without taking a look at competing prices.

Finish reading article

"MUCH lower rates on my credit card"

"I just recently started receiving your newsletter, and it has already made an impact on my life. I owe about $6,000 between Discover and Visa card; I was getting nowhere even paying extra. After your newsletter came, I went right down to the credit union and transferred my balances and got MUCH lower rates on my credit card. Duh! Don't know why I didn't realize I could do this before. Thanks."


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

Household Math™: Susan is loanly
by Scott Bilker

Susan just left her boyfriend Jim because he didn't want to get married. Susan originally planned to buy an investment property with Jim, but that plan is over. She decides to go ahead and get the house herself. She gets approved for a 30-year, 7% APR loan with payments (principal and interest) of exactly $800.00. Susan decides, after making the first monthly payment of $800.00, that starting the next month, and until the loan is complete, she is going to add one extra dollar bill to the monthly payment. So her next payment will be $801, then $802, and so on. How long will it take her to repay the loan?

Answer this problem

Stop Debt Collectors Cold!

Stop Debt Collectors Cold! Plus, for a limited time, 4 bonus reports:(1) How to Get Collection Accounts Off Your Credit Report; (2) How to Avoid Losing Your Home In A Foreclosure; (3) What to Do if You Are Behind on Your Car Payments; and (4) Confidential Interview With A Former Debt Collector

Read about stopping debt collectors

How to Cancel PMI
by Gary Foreman


I have a problem with my PMI. I have contacted the mortgage company on four different occasions to talk about canceling it. I want the extra money to start paying down the mortgage. On call one, I was told it was going to automatically drop that same month, so I did nothing. When several months had passed, I called again. This time I was told again it would be dropped in two months. So again I waited. When several more months had gone by, I called again. This time I was told it would automatically drop when the balance reached 75%. That was two months ago. Today, I called again and guess what, I now have paperwork I need to fill out, get an appraisal (which I pay for) and then it should be dropped.

Is this normal or am I just being BS'd again. I had read for a long time how difficult it is to get them to drop PMI. Now I know what they mean. What can I do to get it dropped? Are there any rules, laws or governing bodies I can talk to about this constant run around?


Finish Reading Article

More credit, more options!

Credit options are your weapon against the banks! The key to success is using your credit lines to save money--not to go crazy spending!

See the ALL recommended cards

Credit Secrets Bible
by The Consumer Publishing Group

The Credit Secrets Bible contains more step-by-step, easy-to-learn, easy-to-use insider consumer credit secrets than any other home study course on the market. In fact, the information in the Credit Secrets Bible is so powerful, we have to disclose to you upfront that it is sold for informational purposes only.

If you don't already know, I'll be the first to tell you... banks, finance companies, bill collectors and credit card companies are some of the BIGGEST crooks in the world. If you don't know the secrets contained in the Credit Secrets Bible, you will pay tens of thousands of hard-earned dollars in extra bills, interest and fees, etc. Your money will be wasted (down the drain) for no reason other than you don't own the Credit Secrets Bible home study course.

Banks and other institutions who take your money, ruin your credit or deny you the money you need are very powerful. They make a business out of hurting people like you to make more money for themselves. And, the more they hurt you financially, the more powerful they become. But they won't be able to hurt you anymore! With the Credit Secrets Bible, I'll show you how to stop them dead in their tracks!

Read more about The Credit Secrets Bible

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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 ©2007 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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