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DebtSmart® Email Newsletter
May 30, 2007: Issue #151

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


" The only way to beat the banks is to make them fight for your business!"
--Scott Bilker
Quotes from all previous newsletters


Letter from the Publisher
Cool Quote
DebtSmart® Recommended Products and Services
Follow up to "Jenni the Bill Collector"
DebtSmart® Amazon aStore
Statistics: Graduating with Debt
"I hadn't even asked yet...she just offered it!"
Household Math(tm): Biweekly Payments
Stop Debt Collectors Cold!
Credit Secrets Bible
Trimming the Fat From Your Budget
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
Update-Subscribe-Unsubscribe-Disclaimer Information
Publisher: Scott Bilker
Editor: Larissa S. Bilker
Assistant Editor: Denise Troy

ISSN 1538-6740

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Graduating with Debt

48 percent of students graduating from Boston College in 2005 carried debt averaging just less than $16,000. Statewide, students left school in 2005 with more than $18,000 in debt.
Read more credit card and debt statistics

DebtSmart® Recommended

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
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Advanta Platinum BusinessCard with Unlimited Rewards
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Citi® Platinum Select® MasterCard
Intro Rate: 0.00%,
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Blue from American Express®
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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


As you may know, I was interviewed on Jordan Goodman's, Money Answer show. You can hear the one-hour show online in the archives (on 5/21/07) here.

Hey, check this out. A newly released study indicates that there is no link between wealth and intelligence. The US Bureau of Labor Statistics survey included 7,403 Americans who have been interviewed frequently since 1979. Based on 2004 answers, people who are now in their mid-40's showed no link between IQ and earnings.

Here's some potential good news. U.S. Senators Claire McCaskill, D-Mo., and Carl Levin, D-Mich., introduced federal legislation aimed at stopping credit card practices that unfairly increase or prolong one's debts. It's called The Stop Unfair Practices in Credit Cards Act. The act calls for limits on penalty, interest-rate increases applied only to future debt, no interest on fees, restrictions on over-limit fees, no pay-to-pay fees (having to pay a fee when you make a payment), and fixed credit limits.

Yeah, that sounds great. We'll see how that goes.


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 wanted to share this with everyone.


I read the letter from Jenni and thought I'd share with you the experience of my worst job ever.

I got a job through a temp agency doing data entry at a debt collection call center.

As I sat to do my job, one of the collectors stood up and yelled, "Here's a good one!" He then proceeded to play a call he had just made to a lady with three kids that couldn't pay her bills because her husband had an accident. While this lady sniffled and cried on the phone, the collectors laughed and laughed. They thought it was so funny

Finish reading article

"I hadn't even asked yet...she just offered it!"

"I just wanted to pass along some success that I had recently while calling my credit card companies. First of all, I called and asked for a credit line increase so that I could transfer a high interest balance to a 4.82% APR. Not only did they increase my credit line, but they also let me know that they had a 3.82% APR available since I called.

I also called another card company to take advantage of another balance transfer offer. It was 3.9%, but it held a transfer fee of $99. When I called to activate the card and make the transfer, I was told that the balance transfer had a $99 fee, but that she would waive the fee if I did the transfer over the phone! I hadn't even asked yet...she just offered it!

Thanks so much for the information that you provide! I finally feel like I'm getting a handle on our debt!"

Susan McVay

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

Household Math(tm): Biweekly Payments
by Scott Bilker

You borrow $25,000 at 8% for 5 years to remodel your kitchen and bathroom. Your loan requires 60 monthly payments to completely pay off the loan. After you get the loan, one of your friends tells you that you can save money by making payments more frequently. They tell you that this happens because you pay off some of the principal earlier and are not charged interest on that principal afterwards. Sounds good. Here's the question. If you convert that 5-year (60-month) loan into a loan that requires 130 biweekly payments (still 5 years), how much money will you save in overall bank payments?

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

Trimming the Fat From Your Budget
by Nancy Twigg

I decided it was time for me to quit my full-time job. The first thing we did was pull out our family budget and go over it with a fine tooth comb. If I was going to quit, we knew we had to cut our expenses to the bare minimum until his then-new business was up and running.

People trim fat from their budgets for various reasons. Sometimes after the birth of a child, the new mother just can't face putting her baby in daycare as she originally planned. Maybe a family car dies an untimely death and payments on a newer car are higher than expected.

BE SURE to send this link to all your friends!!!!

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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