Resolutions – Get Out Of Debt

Here are some things I am doing this week to improve my finances.

1) I called all of my utility companies to see if there was any way I could save on my monthly bills.
Sure enough, I was paying too much for phone service and I reduced my phone bill by $30.00! That amount will go towards reducing my debt.

I also reduced my cellular bill by $10.00 a month and earned a free month by renewing my contract for one year. That will save me $99.00 next month and again that will go towards existing debt.

2) I phoned all of my credit card companies and asked for lower interest rates on my cards. One said yes right off the bat and reduced my interest by a whopping 6%! That means my monthly minimum dropped from $200.00 to $124.00. I will still pay the full 200 and use the difference to pay down the principal.

3) I paid off one $400.00 debt I had today. The debts are coming down!

You can learn more about how to get out of debt on my website Get Out Of Debt Now.

Good luck!

It is still January. Resolutions for the new year still count. So why have you not started your weight loss program for the new year?

Every January and February it is the same. We make resolutions to get out of debt, organize our lives, live better and most of all, lose weight. Especially those holiday pounds we packed on between November and December.

Losing weight is not easy. Should you try that fad diet or this one? Should you skip dieting and just hit the gym everyday? Should you starve, binge, or drink 12 quarts of water a day?

If this sounds like you, you need a system, a complete plan to follow. A system which will organize your eating and activity, get you motivated and start you down the right path to losing weight fast.

Check out my new website, Resolutions – Lose Weight now and find out how you can get started on your weight loss today.

So you have the same new years resolution as I do, “get rid of debt” or maybe something simpler like “get rid of credit card debt”? Regardless, we are both in hot water with high amounts of debt and need a way to get out, right?

You may have heard a commercial for companies which promise  to “reduce your credit card debt” using “little known programs and secrets of the credit card companies”. These are not really secrets but extreme measures used by credit card companies to get back dated credit card debt off their books.

Here is how it works..

Stan has a CITI card with a $5500.00 balance and mounting interest and late charges. There is no way Stan can make the minimum monthly payment of $235.00 with his other bills, so Stan has been shortpaying (sending less than the minimum amount) and paying late.

CITI will settle the $5500.00 balance on the credit card account for 3200.00 and close the account if Stan accepts. Otherwise, the account will be sold to an outside collections company.

If Stan accepts the reduction, there are two big problems. First, the settlement will go on Stan’s credit report. A settlement/account closed is a big negative on anyone’s credit report. Second, the $2300.00 difference will be considered income for Stan’s federal taxes that year. Stan has to report it and pay taxes on the difference based upon his income.

Lose/Lose for Stan.

It is best to avoid “secret programs” and instead contact the credit card company and make a scheduled payment plan to pay off the entire amount due and maintain your credit with the company. It will pay off in the long run.

I have a solution for getting out of credit card debt on my website, Get Out Of Debt. Check it out and see if you can get out of debt in three years or less!
 

I just hung up the phone with my mortgage company. There was a problem with the interest statement from 2007 and I was trying to confirm the numbers for the tax man.

2007? It is 2009, why are you still worrying about taxes from two years ago? Because I just finished filing them. Surprised? I was worried about owing money so I delayed my return until the end of the year. And now I have to pay interest and a small penalty on my return. Smart huh?

Not really, but that is what happens when you have debt and the credit to go with it. Some people have plenty of debt and still maintain great credit. Maybe they pay their small balances first and their big credit card bills later in smaller amounts? I don’t know. Only that debt effects your credit and the ability to borrow when emergencies come up. And for big payouts like a broken car, taxes or something on the house breaks.

So I just filed my taxes for 2007 and sent them in. Surprisingly, I have a refund coming in a few months. I should have known better.

Are you in debt? Do you want to get out of debt? I know I do. Take a look at my website, Get Out Of Debt and let me know what you think. I have a solution and it may work for you too.

This is a continuation of good and bad debt and how to fulfil your new years resolutions and get out of debt.

Meet me – I have about 40,000.00 in credit card debt and short term loans (cars). I also have about 372,000.00 on my mortgage. I made a resolution to myself this year to get rid of debt.

I realized that my existing income would only enough to maintain my current payments and not allow me to get ahead. I needed a strategy and plan which would allow me to

a) budget the money I was taking home in the most effective way
b) pay down the interest on my debts faster
c) pay off my debt in the shortest amount of time.

I found the solution which provided this strategy and you can learn more on my website, Get Out Of Debt. Let me know what you think and follow along as I try to meet my new years resolution and get out of debt.

It is another new year.. What will you do different than last year?

I ended last year with more than $40,000 in credit card bills!
Owing 372,000.00 on my home!
And with a new job which pays only 80% of what my old job paid.

What a way to start the new year.

I decided to make a number of resolutions for the new year.
Resolution One – Get out of debt
Resolution Two – Lose weight
Resolution Three – Get in shape

As well as six other resolutions.

The first resolution to address, was my debt. over $400,000.00 in debt was too much for my family. Especially with a new job and the other changes in my life.

I decided to make a change. A big change for the new year.

I started investigating online plans and programs to reduce my debt without going further into debt. You know, with another loan or debt consolidation program. That was not going to work but only put more pressure on my finances.

I put together a site to track my progress here. Please check it out today and see what I am doing about my debt for the new year.

New Years Resolution Number One – No More Debt!