Many people are asking the question, can you be sued for credit card debts. With the current economy and more people then ever before seeking debt help, credit card companies are going to great lengths to recover money that is owed to them. And the hard reality of the situations is that you can be sued for your credit card debt. (more…)

Humans are habit prone. That is why we have to be careful in how we use our credit cards. Those who are good a restraint and will power activities are in fewer numbers or so it would seem. So here are six habits you must avoid in order to keep from digging yourself deep in credit card debt.

Avoid teaser rates. It has been shown that we tend to focus on the low interest teaser rates without considering the consequences before we sign up for a credit card. (more…)

Caught your attention, huh? Okay, there IS a catch. I admit it. You can’t do anything illegal. You have to report all your income. You can’t work under the table. You’re following all the rules. So how are you making money that the IRS can’t touch AND staying out of jail?

You’re going to use frugality to make your current income do more than seems possible! For example, if you make $35,000 per year, by using frugality you can make it do the work of $45,000. You’ve just “made” $10,000 that you don’t have to report to the IRS! (more…)

Why pay a credit counselor hundreds of dollars when you can raise your credit score 100 points or more on your own in just a few minutes? There are many things a credit counselor can do to give you advice on improving your rating, but in the end they just do that… give advice on how to do it yourself.

First step is to determine where you stand on the credit score scale by checking your rating online for free. (more…)

Do it yourself credit repair is not for everyone. There are many companies offering kits that provide guidelines, sample letters and “easy step by step” instructions. The fact of the matter is, unless you already have an understanding of how credit repair works and you have an enormous amount of patience and a high tolerance for frustration, then there is no such thing as “easy steps”. (more…)

The Best Time of Investment was 20 years Before & The Second Best Time is NOW…!!!!

This is the very old proverb. People always try to time the market. They try to find out the best time of Investment. Some people think that, the best time of Investment is when the market is down while some think that it is when the market is relatively stable and going in upward direction only. But well, let me tell you that none of the above thing is practically possible. Means timing the market and predicting the future movement of the market. (more…)

Everyone is taking a look at how they can get their money back on track to financial recovery. A new study says U.S. households’ net worth dropped by $11 trillion, a decline of nearly 18% during 2008. You can increase your net worth even in this economy by following these 7 simple steps:

1. Be a long term investor. Investors tend to extrapolate recent trends. If investments are going down, they think stocks will continue to go down and they stop buying. (more…)

Debt settlement companies can cost you more than you owe your creditors. The basic strategy of a Debt Settlement company is to tell the client to stop paying their unsecured bills (like credit cards) and open a special account and fund it with what they normally would pay their creditors. Over time this builds a “war chest” that the Debt Settlement company can use to negotiate a settlement of the debt often promised to be 40 cents on the dollar. Reducing your debt by 60% can be very appealing particularly to people who have no other option but bankruptcy. (more…)

Some people have the misconception that filing bankruptcy does not cost anything, which is not true. Depending upon the state you are living in, the legal processes in this regard may vary. You may have to pay different types of fees. The court may waive some of those fees, but there are a couple of fees that cannot be waived. It means filing your petition to be declared as bankrupt can never be completely free. Following is a brief rundown on the various costs associated with the process. (more…)

Time.com calls it “The New Frugality” and refers to the U.S. as “Thrift Nation”. Frugality has finally earned its 15 minutes of fame! As the economic downturn wiped out at least 25% of American’s wealth via recent stock market losses and foreclosures and unemployment still loom large for millions of families, frugality is in! Secondhand, Craigslist, garage sales, thrift stores, barter exchange - you name it. The new competition is the rush to see who can pay the least! (more…)