Today, i'm not interested to talk about debt, money or love. Just want to say anything comes to my brain and transfer it to this blog.
Long time ago, i start this blog for martial art and my club program. Its good when i can write something to this blog. Even not many visitors come, but it really happy because i can get something from this blog.
This blog belongs to me and my club. Since that club still active, i hope they will manage to maintain that club forever at UMS. So far, i miss a lots of activities at Sabah. But nothing i can do, what is done, its done. Time cannot come back unless human create time machine or Doraemon exist..
Thursday, September 18, 2008
Friday, September 05, 2008
Debt Collector? Did you know how to work with them?
If you have let a debt slip by the wayside, then chances are that you eventually will be contacted by a debt collector. The first impulse of most individuals in this situation probably is merely to stop the debt collector’s calls. If an individual is successful in seizing the efforts of one debt collector, however, he or she probably will have to deal with many more down the line as the debt is continually sold.
Instead of trying to stop a debt collector in his or her tracks, perhaps voluntarily working with the collector to rectify the situation might be the best choice for some individuals. If you decide that working with a debt collector is a better choice than fighting against him, how should you go about it? How do you work with a debt collector effectively?
Ok. What a solution now??
Step by Step
When you are first contacted by a debt collector it should be writing, but a call may be just around the corner. If you recognize the debt immediately and you know that the amount specified is accurate, then you can proceed. If you are unsure of the debt in question however, if you think that you owe less, or if you believe that it already has been paid, then write to the debt collections agency immediately with your thoughts on the debt. Ask them to verify that the debt on which they are collecting is correct.
If you know the debt to be accurate, or once the debt is verified, then you should work with the collector just like you would any other lender. You should negotiate your debt and try to agree on a payment plan. Almost all debt collectors will be willing to negotiate, especially if you make negotiation their only option. It is their choice: negotiate with you and get a good portion of the debt, or sell your debt to someone else.
When you come up with an agreement of any sort, have the collector record it in writing, and make sure that all payments that you make to the collector are recorded accurately in writing as well. Once you pay off your debt according to your agreement, that debt is considered paid in full and you should not have any other collector contact you about it. Now, isn’t that better than having to live in fear of the phone for the next several years until the statute of limitations on your debt runs out?
Warnings
#1: Do not give out your bank account information when negotiating your debt. Instead of allowing a debt collector access to your funds for payment, pay via a different method. Some debt collectors have a few tricks up their sleeves. Maybe you gave the collector permission to withdraw funds from your account in excess of your negotiated agreement without really realizing.
#2: Watch out for harassment and abusive practices. While harassment might go hand-in-hand with the stereotypical portrayal of debt collectors, in reality harassment and abuse by debt collectors is against the law. Debt collectors must abide by all standards set forth in the Fair Debt Collection Practices Act.
#3: Before you agree to a payment plan with a debt collector, be certain that you know the age of the debt in question. It is not uncommon for debt collectors to contact individuals about debts right before the statute of limitations is about to expire; that is, the period of time during which a debtor successfully can be sued for repayment of a debt. If the statute of limitations on a debt for which you have been contacted is about to expire, then it might be in your best interest not to pay it. If you do pay, then the statute of limitations starts completely over again.
Credit to Debthelp
Instead of trying to stop a debt collector in his or her tracks, perhaps voluntarily working with the collector to rectify the situation might be the best choice for some individuals. If you decide that working with a debt collector is a better choice than fighting against him, how should you go about it? How do you work with a debt collector effectively?
Ok. What a solution now??
Step by Step
When you are first contacted by a debt collector it should be writing, but a call may be just around the corner. If you recognize the debt immediately and you know that the amount specified is accurate, then you can proceed. If you are unsure of the debt in question however, if you think that you owe less, or if you believe that it already has been paid, then write to the debt collections agency immediately with your thoughts on the debt. Ask them to verify that the debt on which they are collecting is correct.
If you know the debt to be accurate, or once the debt is verified, then you should work with the collector just like you would any other lender. You should negotiate your debt and try to agree on a payment plan. Almost all debt collectors will be willing to negotiate, especially if you make negotiation their only option. It is their choice: negotiate with you and get a good portion of the debt, or sell your debt to someone else.
When you come up with an agreement of any sort, have the collector record it in writing, and make sure that all payments that you make to the collector are recorded accurately in writing as well. Once you pay off your debt according to your agreement, that debt is considered paid in full and you should not have any other collector contact you about it. Now, isn’t that better than having to live in fear of the phone for the next several years until the statute of limitations on your debt runs out?
Warnings
#1: Do not give out your bank account information when negotiating your debt. Instead of allowing a debt collector access to your funds for payment, pay via a different method. Some debt collectors have a few tricks up their sleeves. Maybe you gave the collector permission to withdraw funds from your account in excess of your negotiated agreement without really realizing.
#2: Watch out for harassment and abusive practices. While harassment might go hand-in-hand with the stereotypical portrayal of debt collectors, in reality harassment and abuse by debt collectors is against the law. Debt collectors must abide by all standards set forth in the Fair Debt Collection Practices Act.
#3: Before you agree to a payment plan with a debt collector, be certain that you know the age of the debt in question. It is not uncommon for debt collectors to contact individuals about debts right before the statute of limitations is about to expire; that is, the period of time during which a debtor successfully can be sued for repayment of a debt. If the statute of limitations on a debt for which you have been contacted is about to expire, then it might be in your best interest not to pay it. If you do pay, then the statute of limitations starts completely over again.
Credit to Debthelp
Wednesday, September 03, 2008
How to Debt Free and Build Up Our Net Worth?
Be Debt Free and Build up your net worth!
When one has cleared all their debts, a new beginning has come and start building your net worth. Here are few tips to accomplish this:
Keep away from credit cards: Use cash, check or debit card whenever possible, stick with a budget.
Save More: Save as much as possible, a minimum recommended saving and investment will be 10% of your earnings.
Set-aside funds: Open an account and try to build up $3000-$4000 for various purposes including taxes, insurance, auto and home repairs, appliances, furniture, etc.. Ensure this is automatically detected from your checking account.
Create an emergency fund: For emergency purposes like job loss or illness, try to set aside four months of wages. One can invest in mutual funds with automatic deductions from your checking account.
Start Saving for Retirement: One cannot merely depend on social security alone, you’re your employer’s 401k, or open an IRA to start saving money for your retirement. A weekly contribution of $25 @ 10% interest earns $205,000 in thirty years.
Look after your family: Buy a “term” life insurance policy worth five times your income, a health-care policy covering your medical needs, a disability policy paying 60-70% of your income, an auto policy paying at least $100,000 per injury, $300,000 per accident, and $50,000 in property damage, fire, and theft, a home owner’s policy for 80% of your home value.
Invest in a home: Home investment is one of the best investments; value and equity increase, interest and property taxes are tax deductible. More than two thirds of all Americans own their own home.
If you or anyone you know has trouble managing debt, contact the nations leading debt management firm debtfreeafterall.com, who specializes in debt settlement, debt negotiation, and debt reduction.
Ps: I believe many people already suffer their debt right? So, why not you try to do something like this first. I believe it will help you a bit.
When one has cleared all their debts, a new beginning has come and start building your net worth. Here are few tips to accomplish this:
Keep away from credit cards: Use cash, check or debit card whenever possible, stick with a budget.
Save More: Save as much as possible, a minimum recommended saving and investment will be 10% of your earnings.
Set-aside funds: Open an account and try to build up $3000-$4000 for various purposes including taxes, insurance, auto and home repairs, appliances, furniture, etc.. Ensure this is automatically detected from your checking account.
Create an emergency fund: For emergency purposes like job loss or illness, try to set aside four months of wages. One can invest in mutual funds with automatic deductions from your checking account.
Start Saving for Retirement: One cannot merely depend on social security alone, you’re your employer’s 401k, or open an IRA to start saving money for your retirement. A weekly contribution of $25 @ 10% interest earns $205,000 in thirty years.
Look after your family: Buy a “term” life insurance policy worth five times your income, a health-care policy covering your medical needs, a disability policy paying 60-70% of your income, an auto policy paying at least $100,000 per injury, $300,000 per accident, and $50,000 in property damage, fire, and theft, a home owner’s policy for 80% of your home value.
Invest in a home: Home investment is one of the best investments; value and equity increase, interest and property taxes are tax deductible. More than two thirds of all Americans own their own home.
If you or anyone you know has trouble managing debt, contact the nations leading debt management firm debtfreeafterall.com, who specializes in debt settlement, debt negotiation, and debt reduction.
Ps: I believe many people already suffer their debt right? So, why not you try to do something like this first. I believe it will help you a bit.
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Thursday, August 28, 2008
Did you really need Credit Card Insurance?
The next time you sign up for a credit card, pay attention to what comes along with it. Generally either along with the credit card application itself, or following closely behind via mail or phone call, will be an offer for credit insurance.
According to the Federal Trade Commission, credit insurance may take one of four basic forms:
* Credit Life Insurance
* Credit Disability Insurance
* Involuntary Unemployment Insurance
* Credit Property Insurance
The main purpose of credit insurance, sometimes also known as a payment protection plan, is to cover payments to your lender in the event that you are unable to make them. Depending on your specific credit insurance policy, minimum monthly payments may be made to your lender if you suffer a debilitating injury or a job loss, or your balance may be paid off entirely in the event of your death.
Credit insurance is a financial product that credit card lenders (such as banks) are provided with for a low, bulk rate. Your lender then will offer you the opportunity to buy the insurance at a much higher rate. In general, you can expect to pay about $0.75 to $1.00 in credit insurance for every $100 kept as a balance on your card. Usually, this payment is administered each month based on your balance.
Because the opportunity to acquire credit insurance comes directly from the lender of any given credit card offer, borrowers do not have the ability to compare plans before deciding about credit insurance. These policies are take it or leave it -- and the terms and conditions of the insurance are non-negotiable.
Each state sets its own limit for credit insurance rates, so buying it might be a better or worse idea for you depending on where in the U.S. you live. However, many experts do not think that taking out credit insurance is a particularly wise option for most consumers in general.
Pros and Cons
The main cost associated with credit insurance is, literally, the cost. While $0.75 per dollar on your balance might not seem like a high price to pay for protecting yourself against credit card debt, you may be able to get a better insurance deal elsewhere that will offer the same advantages. For example, traditional life insurance policies and disability polices actually end up being cheaper than credit insurance for many people, and they offer so many more benefits above and beyond paying off your credit card lender.
Nevertheless, credit insurance is a good option for some people, especially for those who cannot get alternative insurance for whatever reason. About ¼ of American families do not have any life insurance, so credit insurance can be a sufficient way of insuring at least one financial obligation. In fact, credit insurance is a bit advantageous to other forms of insurance in that submitting claims usually is very easy -- normally this is not the case!
In addition, rates on credit insurance are reliable because they are set without regard to one’s personal attributes like age, health, etc.
The Laws of Lending
It is against the law for any lender to include credit insurance with your credit card agreement unless you are aware and have given permission. It also is against the law for a lender to deny you for credit simply because you do not wish to purchase credit insurance. If you already have credit insurance, it is your right to cancel the policy at any time.
Conclusion
While credit insurance usually is not a very lucrative option for most credit card users, it does have its advantages. If you are interested in credit insurance on a new credit card, then keep an eye out for an offer right after (or while) you apply. If you would like to obtain insurance on a credit card that you already have, then simply ask your lender at any time.
According to the Federal Trade Commission, credit insurance may take one of four basic forms:
* Credit Life Insurance
* Credit Disability Insurance
* Involuntary Unemployment Insurance
* Credit Property Insurance
The main purpose of credit insurance, sometimes also known as a payment protection plan, is to cover payments to your lender in the event that you are unable to make them. Depending on your specific credit insurance policy, minimum monthly payments may be made to your lender if you suffer a debilitating injury or a job loss, or your balance may be paid off entirely in the event of your death.
Credit insurance is a financial product that credit card lenders (such as banks) are provided with for a low, bulk rate. Your lender then will offer you the opportunity to buy the insurance at a much higher rate. In general, you can expect to pay about $0.75 to $1.00 in credit insurance for every $100 kept as a balance on your card. Usually, this payment is administered each month based on your balance.
Because the opportunity to acquire credit insurance comes directly from the lender of any given credit card offer, borrowers do not have the ability to compare plans before deciding about credit insurance. These policies are take it or leave it -- and the terms and conditions of the insurance are non-negotiable.
Each state sets its own limit for credit insurance rates, so buying it might be a better or worse idea for you depending on where in the U.S. you live. However, many experts do not think that taking out credit insurance is a particularly wise option for most consumers in general.
Pros and Cons
The main cost associated with credit insurance is, literally, the cost. While $0.75 per dollar on your balance might not seem like a high price to pay for protecting yourself against credit card debt, you may be able to get a better insurance deal elsewhere that will offer the same advantages. For example, traditional life insurance policies and disability polices actually end up being cheaper than credit insurance for many people, and they offer so many more benefits above and beyond paying off your credit card lender.
Nevertheless, credit insurance is a good option for some people, especially for those who cannot get alternative insurance for whatever reason. About ¼ of American families do not have any life insurance, so credit insurance can be a sufficient way of insuring at least one financial obligation. In fact, credit insurance is a bit advantageous to other forms of insurance in that submitting claims usually is very easy -- normally this is not the case!
In addition, rates on credit insurance are reliable because they are set without regard to one’s personal attributes like age, health, etc.
The Laws of Lending
It is against the law for any lender to include credit insurance with your credit card agreement unless you are aware and have given permission. It also is against the law for a lender to deny you for credit simply because you do not wish to purchase credit insurance. If you already have credit insurance, it is your right to cancel the policy at any time.
Conclusion
While credit insurance usually is not a very lucrative option for most credit card users, it does have its advantages. If you are interested in credit insurance on a new credit card, then keep an eye out for an offer right after (or while) you apply. If you would like to obtain insurance on a credit card that you already have, then simply ask your lender at any time.
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