Credit Card Debt Settlement - Credit Answers

Single Parent A little planning could save you money!

2009-11-09T08:52:00.000-08:00

It is possible to create a budget and, if you involve your children, they may even learn good spending habits in the process! Using a debt settlement savings account can be a good way for single parents to educate their children early and establish good spending habits and the process of saving money.

Child Care.

Consider the help of relatives, friends or other parents. Discuss if they would be willing to watch your children and try to come to an agreement about what you can afford to pay. If your child is a student, some schools offer inexpensive after-school programs.

Think about a new career.

Do you feel you need to update your job skills or foster new ones? Think about what you might like to do and contact an individual in that career field. Perhaps he/she would be willing to meet with you, discuss their career and serve as a mentor. You may also want to research online sites such as elearners.com/projectworkingmom which may offer help for single moms and dads.

Review financial documents.

If having life insurance is affordable for you, it could benefit your children during a time of need. Perhaps you could create a will, review your retirement accounts and update all beneficiary information where applicable in order to secure their future and give you peace of mind.

Don't give up.

Continue your efforts to have an amicable relationship with your former spouse or partner. Being on good terms might make decisions easier and provide a good example to the children you share.

Frugal Food Ideas For Single Parents

Shop with cash.
This may take some planning but consider if it would work for you. Try taking a calculator along with you on grocery trips and add the cost of each item as you put it in your cart This may help you eliminate unnecessary items.

Cook in larger quantities.
Think about investing in a large crock pot or pressure cooker. Try to purchase one at a thrift shop or garage sale. Crock pots allow you to cook larger batches of food at once and pressure cookers can cook delicious meals quickly, leaving you more time for your kids and yourself!

Consider shopping once a week.
If you shop less, you may be less likely to impulse buy, and you might save gas and time as well. Make a list of seven dinners and create your list from these menus. You could also plan your shopping list around sale ads in the weekly papers.

Plant a garden.
If you have absolutely no space available in your back yard for a garden, consider planting various veggies in containers which can be placed on your porch or in other small spaces.

Save Money On Pet Care

2009-10-26T13:12:00.000-07:00

When it comes to pet care, keep in mind that an ounce of prevention may be equal to a pound of cure. Here are a few suggestions to help you save somey to put to your debt settlement negotation.

Spay and Neuter

Animals that are not spayed or neutered may be more likely to suffer health and behavioral problems. Contact your local Humane Society or shelter, explain your financial situation and see if they can offer resources. Many municipally-operated animal shelters in the U.S. offer free or low-cost spay/neuter and vaccination programs.

Keep Pets Restrained

When pets are controlled and out of harm's way, they are less likely to suffer injuries or contract diseases that could harm their overall health.

Consider keeping your cat indoors. If you own a dog, make sure it is always on a leash, in a fenced area or under responsible supervision.

Groom Pets At Home

Be prepared to ask your vet or other professional about proper ways to trim your pet's nails at home to save money. Consider giving your pet a bath at home. Brush your dog or cat's fur regularly to avoid hairballs, and consider brushing your pet's teeth at home as well. According to Parade Magazine, brushing your pet's fur and teeth yourself may prolong time between visits to the groomer.

Dental chews are available that are formulated to control buildup on your pet's teeth. Ask for these at your local pet retailer. It might also be a good idea to check that the treats are accepted by the Veterinary Oral Health Council (VOHC).

Your local library could be a great resource for grooming guides or check for tips on the Internet.

Shop Smart

Eliminating extras like pricey carriers, expensive treats or fashionable 'doggie' couture can really make a difference.

Toys are important for pet exercise and activity, but they don't necessarily have to cost a lot of money. Someone with a little creativity and basic sewing skills can make accessories or soft toys such as a simple catnip pouch.

Information Overload

2009-10-05T12:46:00.000-07:00

Technology is everywhere and our options are endless. It is possible to enjoy the benefits of technology without spending a lot of money. When you see an interesting electronic product or fun gadget, you may want to take time to think about how necessary that item would be in your daily life.

Cell Phones

Some current cell phone plans offer extras like texting, ringtones, games, video and camera capability.

These extras can be enjoyable, but ask yourself if you really need them. Texting, ringtones, and games can add up to $10 per month or more to your phone bill according to Womansday.com.

Consider choosing a plan that fits your basic needs. Woman's Day also suggests looking for free games and ringtones on the Internet. Websites such as Phonezoo.com and Myxer.com might be a good place to start.

If you already have an iPhone, you may have access to free software that will help you manage your budget and save money. According to The Wall Street Journal, Yowza!! combines a Global Positioning System (GPS) with coupons for nearby retailers.

If you need a cell phone but don't want to sign a lengthy contract with one service provider, prepaid cell phones might be an option.

Free Software Ideas

Here are a just a few other software suggestions from PCMag.com. The site releases a yearly review of over 100 free software options which may be worth your time to check out.

Open Office (www.OpenOffice.org) includes a word processing and spreadsheet software, HTML document generation and PDF document generation.

Google Docs (docs.google.com) offers free browser-based document and spreadsheet software.

Gimp (www.gimp.org) is an Image Manipulation Program featuring photo retouching, image composition and image authoring capabilities.

Know Your Stuff (www.knowyourstuff.org) is an online site where you can inventory everything you own. You can even include digital photos of your possessions or scanned purchase receipts.

Geni (www.Geni.com) allows genealogists to plug in their family tree. This web application makes it easy for everyone in the family to view information and share stories, photos and facts of their own.

Office Web, a free version of Microsoft Office suite, will include the Office word processing application, Excel spreadsheet, PowerPoint presentation software and OneNote message pad when it becomes available soon.

Class Action Filed Against Extended Car Warranty Schemers

2009-09-21T09:42:00.000-07:00

If you recently received information in the mail regarding extended warranty information for your vehicle, make sure that you read the fine print. A class action complaint was recently filed in the U.S. District Court by an Illinois consumer, individually and on behalf of other customers nationwide who have purchased so-called "extended warranty" vehicle service contracts.

According to www.bankrate.com, the complaint details the ongoing, wrongful scheme of the company in question to obtain hidden interest charges and penalties from consumers who cancel their service contracts before the term of coverage expires. The complaint charges that the defendants make a practice of heavily penalizing car owners with large interest charges and marketing fees that are not spelled out in their contracts. This practice is in violation of the Federal Truth in Lending Act and the Illinois Consumer Fraud Act. If you receive an extended warranty offer, you may want to do some research before making a commitment to that company.

Credit Answers specializes in debt management, credit card debt settlement, debt negotiation and bankruptcy alternatives. Credit Answers team of experts work to enable a new and fresh financial start for individuals with debt problems. We realize the importance of money in people's lives and also the accompanied strain that debt can cause. Our team has helped thousands of clients across the nation.

Credit Card Companies May Raise Annual Fee

2009-09-08T13:20:00.000-07:00

Some credit card companies may also begin resetting annual fee policies for cardholders prior to the CARD Act law going into effect. According to creditcards.com, the Credit CARD Act bill does not include any direct comment on annual fee setting.

Annual fees first emerged from certain credit issuers under the term "membership fees." Initially, these fees were justified and were used by companies to profit since holders of some cards pay balances in full each month and carry no interest.

As explained by some financial industry professionals, creditors are scrambling before the deadline because consumer credit scores have decreased and the cost of providing credit has increased.

According to creditcards.com, Mail Monitor, a mail tracking service, reported that in the first quarter of 2009, Americans received 372.4 million card offers. According to the report, approximately 27 percent of those offers carried a fee.

At Credit Answers we strive to educate our clients on what is happening in the industry and ways to help save money in these trying financial times.

Auto Insurance Savings Tips

2009-08-31T12:33:00.000-07:00

Car insurance is one of the most common bills that most households are required to pay. Below are some tips that may help you save on this expense and save toward your debt settlement.

Drive Safely

Numerous at-fault claims and traffic violations may increase your insurance rates. You may help avoid the likelihood of an accident by driving defensively and obeying traffic laws. Stay safe by adhering to road signs, driving the speed limit, and resisting the urge to talk on a cell phone while driving. Many insurance companies offer discounts if a policyholder has maintained a clean driving record for a specific amount of time.

Take Advantage Of All Discounts

You may qualify for car insurance discounts for a variety of reasons. Mention to your insurance company if your vehicle has features such as air bags, anti-lock brakes, and anti-theft devices. Keep track of how often you use your vehicle. If your mileage is lower than average, you may receive a discount. Younger drivers usually cost more to insure. Discounts may be available for student drivers with good grades or college students in the household that live on campus for most of the year. Your insurance company may also offer you a multi-policy discount if you purchase both auto and homeowners coverage.

What To Do In An Auto Accident

Here are some tips provided by Erie Insurance Group (www.erieinsurance.com) to help you remain calm and gather the necessary information in the event of a car accident. A detailed and accurate report can help you expedite your claim for repair costs.

The first priority is to make sure your vehicle is safely off the road and check to see if any parties are injured. If so, contact emergency personnel immediately.

Always call the police even if there is minor vehicle damage. A police report can help speed up the claims process.

Although car accidents are stressful situations, remain calm and do not discuss who is at fault. You will have an opportunity to talk to your insurance agent about the details. Exchange information with the other driver(s), which would include names, phone numbers, addresses, license plate numbers, and the make and model of each car.

You may also want to record information such as date, time, location, and weather conditions. Most cell phones come equipped with a camera, so consider taking picture at the scene. In case of an accident, Erie recommends keeping a disposable camera along with a notepad in your glove box.

Health Care: Save On Co-Pays Or Additional Visits

2009-08-25T08:36:00.000-07:00

Whether you have insurance or not, it might be wise to write down any important medical information and have your records in order prior to your appointment. Keep track of any changes in your health that cause you concern and discuss these changes with your physician. Remember, discussing all medical issues could reduce the chances of a follow-up visit, saving you money for your debt settlement negotation. If you've had tests and your doctor tells you there is no immediate need to return to the office, he/she might be willing to discuss your results over the phone.

Practice Good Health Habits

You can keep in mind that an apple a day might not solve everything but it shouldn't hurt either. Cnn.com reported in a recent article that worries about financial positions and the economy have given people more of an incentive to eat healthy and exercise. Eating well, getting enough sleep and exercising are good habits that can help you keep healthy, clear your mind and reduce stress. Cdc.gov advises Americans to check with their physician regarding an appropriate exercise plan.

American Academy of Dermatology: Go to aad.org to find a database of free skin cancer screenings around the country.

American Cancer Society: The organization's National Cancer Information Center at 800-227-2345 provides information about free screenings for various conditions.

Centers for Disease Control and Prevention: The federal agency at cdc.gov runs a national early detection program for breast and cervical cancers and provides free colon cancer screenings for people 50 and over.

Job Search Tips

2009-08-17T11:16:00.000-07:00

According to a Household Data Survey from the Bureau of Labor Statistics, there are approximately 14.5 million unemployed Americans as of May 2009. If you are one of the people who have unfortunately found yourself without a job due to the economic crisis, below are some tips you may consider as you search for a new employment.

Make use of the web

Online job search has become very common with the advent of the internet. You may also check out a web site for a company that you would like to work for and see if they have posted open positions on their web page. Also, check out web sites for business and trade associations in your field. Web sites for your local newspaper may also have job postings online.

Consider a part-time job or temporary job

A part-time job may be easier to acquire at first than a full-time job. If you are collecting unemployment, some states allow you to still earn a certain amount of wages while collecting benefits. Job sites such as Snag-A-Job (www.snagajob.com) specialize in part-time employment. Summertime and holiday seasons are prime times in which retail stores, restaurants, and amusement parks may need extra employees. This may also be a good idea if you are currently working, but would like to supplement your income. Temporary agencies may also be a good source of income. You may have a wide range of long and short-term assignments. For the most part, the jobs through agencies may be a temporary gig, but could eventually result in full-time employment. Find ways that you can earn extra money by using your skills. For example, you can babysit, watch pets while people are away, perform computer tasks, or clean houses.

Network

Let all of your friends, family, and acquaintances know that you are looking for a job. You may find out about an unadvertised position through word of mouth. Contact your former college's alumni office or visit their web site to see if they have alumni postings on their site. You can also create a profile on LinkedIn.com, a business networking web site. You have the option of "linking in" with former business associates or people that work in your industry.

Low Mileage Can Result In Less Expensive Insurance Rates

2009-08-10T08:56:00.000-07:00

The drive less-save more programs encourage drivers to spend less time on the road, leading to fewer accidents which will cost insurers less money which can be used to help save for your debt settlement negotiation. In the past, low mileage drivers were offered no incentive and were expected to pay the same car insurance as everyone else. Now, with some plans, drivers who log less than 2,500 miles a term may save as much as 5 to 25 percent on their insurance bill. If you drive less than 15,000 miles annually, a deeper discount may apply.

It is wise to call your insurance company to see if they offer a drive less-save more program. All drivers may not be eligible and plans and requirements vary depending on company. Also, if your insurer does offer the program, some states may be exempt. One plan requires you to have an OnStar-equipped General Motors vehicle. OnStar, a navigation and safety system, is used to verify mileage driven and automatically report the vehicle's odometer reading at the beginning and end of the owner's insurance policy term. Not all plans require ownership of a GM vehicle, however.

Call your insurance company to find out if they offer a low mileage discount. It is suggested that prior to signing up drivers are aware and comply with the methods the insurer uses to collect mileage information.

Payday Loans Push Consumers Deeper In Debt

2009-08-03T12:45:00.000-07:00

Research by the Center for Responsible Lending (CRL) shows important information regarding payday lending and borrowers who find themselves trapped in the payday debt cycle.

According to CRL, it's not just the demand for new payday loans that leads to trouble for borrowers. Rather, the study verified that approximately 75 percent of the payday industry's loan volume was generated in particular by customers who are opening payday loans to repay their first payday loan.

The report came to light just before the California Senate Judiciary Committee met to review AB 377, a payday lending bill that ignited controversy.

CRL reports payday lenders generally make loans due in full on a payday and charge close to $60 for an average $350 loan. Since low-income customers may experience a shortfall by their next payday, lenders anticipate their return for a new loan. CRL estimates that those types of customers account for 76 percent of total loan volume.

If you are caught in the payday loan cycle and a paying too much on credit card payments, debt settlement might be a viable option for you to live better debt free.

Retirement Planning Is Essential

2009-07-27T08:53:00.000-07:00

Our financial goals change at various stages throughout our lives. Below are some helpful tips and services that may help consumers reach thier debt settlement savings goals.

Mass Mutual reports that as Americans near retirement they have less confidence in the economy and new fears about whether they can afford the high cost of growing older. On September 15, PBS will premiere Retirement Revolution: The New Reality, a documentary that will show several families sharing their personal stories about retirement. For several online retirement calculators, visit www.massmutual.com/calculators.

The Budget Queen Can Help You Save Money.

Visit www.thebudgetqueen.com for a variety of budgeting tools, money tips, and free calculators to help you reduce your everyday spending habits.

Elderly:

National campaign helps elderly with prescription costs. By the end of this summer, more than one million older Americans will have fallen into the "doughnut hole," a coverage gap in Medicare's prescription drug program that leaves individuals on the hook for all of their own drug costs while still paying premiums. AARP is launching a new online resource to help older Americans avoid this dreaded coverage gap. The AARP Doughnut Hole Calculator, available at www.aarp.org/doughnuthole, guides visitors through their prescription drug options using localized information about their plans and prescriptions to determine if or when they will fall into the coverage gap. Visitors can view a graph of their out-of-pocket spending by month, look up lower cost drugs for their conditions, create a Personal Medication Record, and print out personalized letters to their doctors to help start a conversation about safely switching prescriptions. As a part of its Health Action Now campaign, AARP is calling on Congress to close the doughnut hole and lower prescription drug prices so that no one has to go without the prescriptions they need to stay healthy.

National campaign helps elderly with prescription costs. According to Help Senior Homeowners, a non-profit mortgage counseling organization, thousands of senior homeowners (age 62 or older) are already delinquent or in foreclosure. Reverse mortgages are the answer for some but approximately 30% of 12 million seniors who may have qualified for a reverse mortgage two years ago no longer have enough equity in their homes to qualify. Visit www.helpseniorhomeowners.org for more information.

Survey Says More Americans Staying Home To Save Money

2009-07-22T08:28:00.000-07:00

According to a press release by Huntington Bank, a survey of more than 1,000 Americans indicated that people have limited cash for non-essential items. According to Huntington Bank, many consumers are trying their hand at home-cooked meals as an alternative to dining out. Many of those surveyed claimed that if they do go out to eat, they think economically. For example, the consumers questioned said they would purchase only one entrée and share it as a way to save money.

When asked, "No matter how bad things get, I will never cut back on..." participants answered that they wouldn't skimp on medical needs. In addition, the participants stated they would continue to pay for cable, Internet or satellite dish as it was generally cheaper to enjoy entertainment at home rather than purchasing movie or concert tickets and attending events.

Credit Answers specializes in debt settlement, credit card debt negotation, debt management and avoiding bankruptcy. Credit Answers team of experts work to enable a new and fresh financial start for individuals with debt problems. We realize the importance of money in people’s lives and also the accompanied strain that debt can cause. Our team has helped thousands of clients across the nation.

Vacation Money Saving Tips

2009-07-13T08:49:00.000-07:00

During this time of year many families travel to various destinations for vacation. If you are planning a family excursion, below are some tips and resources that may help reduce your travel costs and put money aside toward debt settlement.

Monitor Your Food Budget

Food can be a major expense on a family vacation. Experiencing the local cuisine is definitely an exciting aspect of a trip, but dining out for every meal can really become a budget buster. Consider packing some non-perishable items like cereal, snacks, peanut butter, jelly, bread, soda, and juice boxes. If you are staying in a hotel, bring a cooler in which you can store milk and ice. You can create some quick meals instead of always visiting a restaurant.

Make It A Family Affair

Instead of staying in a hotel, check out the price of a beach house or condo. You may be able to split the costs with other friends or family members by staying in a spacious beach property. This would also help you save on food costs because most condos and houses are equipped with stoves and refrigerators, which would allow you to cook a lot more meals "at home." Check out the site www.beachhouse.com for a wide variety of vacation rentals.

Search For Discounts

When planning your trip, be sure to search for coupons or special deals on area attractions, amusement parks, and events. For example, if you plan to visit a Six Flags Theme Park, go to their web site and look for special summer deals. The American Automobile Association (AAA) also offers deals for members. Once you arrive at your hotel, pick up flyers and brochures in the lobby that may offer coupons for local attractions.

Time Is Money

2009-07-07T09:11:00.000-07:00

MoreBusiness.com recently released the Time is Money Calculator, a free tool that allows anyone to enter their current salary and the price of a product they want to buy to calculate how many work hours it would take them to purchase it. The calculator factors in your tax bracket depending on your salary, so that you will get a more accurate calculation. This resource is designed to help people put their purchases in perspective so they can budget their time and money better. For example, if you make an annual salary of $30,000 and you want to buy a pair of designer shoes that cost $500, it would take you more than 44 hours of work-more than a full work week-to purchase those shoes. Is it worth it? This tool can be a great help for people to use has they put aside money toward debt settlement or savings.

New Laws Affecting the Credit Card Industry

2009-07-07T08:55:00.000-07:00

On May 22, President Obama officially signed the CARD Act and the new regulations will take effect in February 2010. This set of laws is a major milestone for the credit card industry and may be instrumental in ending deceptive practices that affect consumers.

How may this affect the credit card industry?

The Motley Fool, a financial education site, indicates that credit card issuers may cut back on certain benefits in order to recoup lost revenue from these new laws. For example, grace periods and cards without annual fees could become obsolete. Credit card perks and reward programs could also be eliminated. As many consumers have also experienced, creditors may continue to lower credit lines to reduce risk. It may also become more difficult for applicants to obtain credit, especially those with weak credit histories.

Credit Card Stats:

A recent study of the 12 major credit card issuers determined that all had one or more rules that would now violate the CARD Act. Below are some findings:

93% of issuers could raise the interest rate at any time

72% of cards included offers of low promotional rates which issuers could revoke

The median penalty rate of 27.99% would add charges of $100 and $180 annually for every $1,000 in revolving purchasing debt

Consumers that are in the process of saving for a debt settlement, should take note of the new laws taking effect.

Saving Money Tips

2009-06-08T09:22:00.000-07:00

Warm weather allows you and your family to complete certain chores and participate in seasonal activities. Below are some debt settlement money-saving tips that may help cool your wallet as the temperature heats up.

Sell Items That You No Longer Use

During the spring/summer season, some people shed all of their unwanted and unused items. Ebay is the largest online auction site and a good source to sell items that you no longer use. Visit their web site for more details on how to begin selling. You can also try your local Craigslist site to place an online classified ad for free to people in your area. Also consider placing ads in your local newspaper, host a garage sale, or check with the recreation department in your local community to see if there are any neighborhood flea market days. You may be able to reserve a table.

Save Money On Home Improvements

Many people perform home improvements in the spring and summer months. Although you may have to hire a professional for some complicated projects, you may be able to tackle some tasks yourself. A wealth of informational resources exist to teach you how to do home improvement jobs such as cleaning your gutters, painting, and installing a ceiling fan. Visit your local bookstore or library to find a comprehensive guide on do-it-yourself home improvements.

The Internet and television are also great sources. DIY Network brings you such cable shows as "DIY to the Rescue" and "DIY Be Your Own Contractor." You can also visit their information-packed web site located at www.diynet.com. This site features a wide array of do-it-yourself projects, with topics that range from home improvements to decorating.

Home Depot also offers free Do-It-Herself Workshops, Weekly Clinics, and Kids Workshops. Visit www.homedepotclinics.com to register at a Home Depot near you.

Save On Your Cell Phone

2009-06-01T09:56:00.000-07:00

Since there is a good chance that you may have a cell phone, below are some tips that may help you save money on your monthly bill and save for your debt settlement.

Use The Same Plan As Your Friends And Family

Some carriers allow friends and family members to talk for free if they subscribe to the same service. There may also be a discount if you form family plans. So, it is usually wise if everyone in the household has the same cell phone carrier.

Consider A Prepaid Phone Service

If you use your cell phone sparingly, you may consider a prepaid or pay-as-you-go plan, which usually allows customers to buy minutes as they need them and do not involve lengthy contracts. Search for pay as you go plans by visiting www.myrateplan.com.

Be Wary Of Cosigning For A Cell Phone

Cosigning for a cell phone for someone that may not qualify for one can result in a costly experience. It is wise to think about what can happen before you make that commitment.

Beware of Financial Scams

2009-05-26T12:19:00.000-07:00

While saving for your debt settlement every penny counts. Make sure that you do not get sucked into some of the many financial scams on the web currently. Below are a few of the typical financial scams to be on the lookout for.

Mystery Shopper Scams

It's common for businesses and consulting firms to pay consumers to shop at their retail locations or dine at their restaurant. The mystery shoppers are then required to submit confidential reports about the experience. But fraudulent individuals are cashing in by setting up fake mystery-shopping programs that look very real, including job applications and professional-looking web sites. They are then convincing new hires to wire money using funds from their own checking account.

Here's a typical scenario according to FDIC Consumer News. Your first assignment as mystery shopper is to deposit a $2,000 cashier's check into your bank account, supposedly to cover a $1,900 purchase you're about to make for your new part-time job, plus a $100 advance payment for your services. You're then instructed to withdraw $1,900 in cash from your bank account, take it to a particular store to have the funds wired to a person in Canada. Later, you'll go home and fill out an evaluation of the store's money-transfer service. Eventually, the cashier's check you deposited will be returned as counterfeit, and you will be responsible for the money you withdrew from your account.

What Can You Do?

To learn more about common financial frauds and how to protect yourself, visit www.mymoney.gov, a site dedicated to financial education and sponsored by the FDIC.

Trust your instincts and be cautious before you commit to any work-at-home job that may seem too good to be true. If you want to work at home, determine what your strengths and interests are as with any other job search. Then, try to find ways that you may be able to earn extra money at home. For example, consider baby-sitting or pet sitting for families in your community. If you have computer or data-entry experience, consider using your home computer as an employment tool. Companies who ask for money in order to provide you with work should trigger a red flag.

Buying A Car While In Debt Tips

2009-05-18T09:12:00.000-07:00

Since you are currently enrolled in a debt settlement program, buying a car may seem difficult. Here are some tips that could help you purchase a reliable car at an affordable price.

Choose A Financing Option

There may be lenders who will extend credit to you despite your financial trouble. With the rise of the internet, you no longer have to rely solely on the dealer for financing. www.CarBuyingTips.com strongly recommends the use of online lending services such as www.autocreditfinders.com. This site will put you in contact with lenders who specialize in high risk loans. You may also try applying for a car loan through your credit union.

Be aware of dealer scams. Salesmen realize that individuals with flawed credit reports and tight budgets focus heavily on the amount of the monthly payment. Therefore, they may offer you a car loan in which payments extend for 72 months. Although the payment amount may fit your budget, you will most likely be paying too much for the vehicle. If you decide to sell or trade in the car before you have made all of the payments, you will be "upside down in the car," a phrase used by dealers to mean that you owe more than the car is worth.

Try to obtain a car loan for no longer than 48 months. If the figures are not workable with the car that you choose, select a less expensive vehicle. Oftentimes, some dealers prey on your emotions and make you feel as though you should be grateful that they approved you for any car. They might also tell you that you could not get financed through any other dealer or lending institution. If the dealership will not budge on the payment or loan terms, consider taking your business elsewhere.

Read All Paperwork

Before signing any paperwork, read everything carefully. Oftentimes, dealers add a variety of miscellaneous charges such as VIN# window etching, dealer prep, and a warranty that you never requested. In most cases, these services are not necessary and can be done cheaper on your own.

"The buyers need to be reminded that they are in dire straits, they can barely afford the car, so they should be going there to buy a car only, nothing else," said Ostroff. Visit Ostroff's site at www.carbuyingtips.com to read in detail about the top ten car dealer scams. Arming yourself with knowledge will help prevent you from falling victim to car salesman trickery.

Helpful Car Buying Web Sites

Kelley Blue Book: This site provides car buyers and sellers with new and used vehicle information. Visit this site to see how much your car is worth if you are selling, buying, or trading.

Consumer Reports: The auto section of this site gives details and unbiased reviews of new and used vehicles in categories such as safety and value.

Bankrate.com: Bankrate offers a long list of helpful online calculators that may assist you with car buying. There are calculators such as the "Car Early Pay Off Calculator" and "Negative Equity Auto Loan Calculator".

Get Your Credit Back On Track

2009-05-04T09:39:00.000-07:00

After you have completed your debt settlement program, you will be one step closer to living better debt free. At this time, you should begin to re-establish your credit. Although your rating will not improve overnight, consider the following ideas to rebuild your credit.

Some Offers Only Look Good On Paper

Did you ever buy a product that looked wonderful in the store, but once you brought it home it did not perform as well as you would have liked? This idea could also be true of sub-prime credit cards. Upon completion of your debt settlement program, be aware of credit card offers that seem too good to be true. Sub-prime issuers may have lenient approval guidelines, but prey upon individuals with previous credit problems by charging astronomical approval and annual fees. These companies commonly apply these fees to your card. Therefore, you acquire a balance before you make any significant purchases.

Educate Yourself

Knowledge and education never go out of style. Become an educated consumer by understanding your credit card agreement. This may involve reading the tedious fine print, but it is beneficial to know your annual percentage rate, due date, late fees, etc. According to a recent survey conducted by TNS, a market research firm, in partnership with professors from Dartmouth College and Harvard Business School, high levels of debt may be correlated to financial illiteracy. The survey revealed that only 35% of respondents were able to correctly estimate how interest compounds over time and more than half of respondents did not understand how minimum payments are calculated and applied to a principal balance. The American Bankers Association (ABA) has developed a free resource to help consumers make informed choices about credit cards. "Guide to Credit Cards" is available on ABA's Consumer Connection web page at www.aba.com. Make sure that you also check your credit report frequently. You are entitled to receive a free credit report every year. For more information, visit www.annualcreditreport.com.

tips for renters

2009-04-27T12:26:00.000-07:00

Sometimes it makes more financial sense to rent instead of own while saving for your debt settlement negotation. While homeownership is a great part of life. People are sometime overwhelmed by the financial burdon that goes along with manntanence and upkeep of a home. Below are a few tips to help those who rent.

Don't Alter The Property

The lease should also state what the landlord's rules are on making alterations to the property. One of the downfalls of renting is that most property mangers do not allow tenants to paint walls or make permanent changes to rental property without written permission. Even if you do receive written permission to paint, for example, you will usually have to change the color back to the original before you move out, which can be a hassle. Before you make improvements, such as install an air conditioner or a dishwasher, consider the fact that you may not be able to take these items with you when you move. This can be an especially costly endeavor if you do not plan to live at the property very long.

Take Care Of Your Property

When moving in, note any damage that is already visible on the property so you do not get charged for the repair when you move out. Upon moving out, make sure you leave the rental property in the same condition as when you moved in. For example, clean, vacuum, and fill small holes in the wall with spackle. Many apartment complexes also require that you have the carpets professionally cleaned before moving out. You are more likely to receive the majority of your security deposit, which is usually equivalent to one month's rent, if you follow the move-out instructions.

Protect your debit card from thieves

2009-04-21T08:24:00.000-07:00

Protect your debit card from thieves.

As economic conditions have worsened, there's a noticeable increase in all types of card fraud. People who create counterfeit ATM or debit cards by stealing your PIN and other account data can simply pull cold cash from your bank account. Using a technique known as skimming, they set up equipment that captures magnetic stripe and keypad information when you put in your PIN at ATM machines, gas pumps, restaurants, and retailers. The editors of Consumer Reports Money Adviser offer three tips on how you can protect yourself:
Don't type in your PIN at the pump. Gas pumps are notorious for skimming because they're produced by only a couple of different manufacturers. If you must use a debit card, choose the screen prompt that identifies it as a credit card so you don't have to type in your PIN.

Stick with ATMs located at banks.

Use machines at banks rather than in convenience stores or any other isolated locations. A thief has to be able to attach and retrieve a skimming device to see the data gathered, and that's more likely to happen in non-bank settings where there's less traffic and no surveillance cameras.

Closely monitor your bank accounts.

Federal law limits your liability for fraudulent debit-card charges to $50, but only if you report the theft or loss of your card or PIN within two business days of discovering the problem.

In these trying economic times becoming a well educated consumer will help you in your quest to save toward debt settlement. If you are a victim of skimming please contact yiou local authorities.

Green Financial Tips

2009-04-13T11:28:00.000-07:00

Conserve Energy

Simple tasks such as turning off lights when you leave the room and installing a programmable thermostat can reduce your utility bills and overall energy consumption. in turn lowering your monthly expenses making it easier for you to save toward your debt settlement negotation. When it comes time to buy new appliances, you may consider Energy Star models, which use 10-50% less energy and water than standard models, according to the Energy Star web site. You can visit this site at www.energystar.gov for more tips on conserving energy.

Drive Greener

Most green articles urge consumers to purchase a hybrid car. As you strive to settle your debts, buying a new vehicle may not be an option. However, there are other ways that you can "green" your car and save money on transportation costs. For example, you will burn less fuel if you roll down your windows in the summer instead of using air conditioning. Performing routine maintenance on your car may also reduce gas consumption and prevent costly car repairs. According to Treehugger.com, if every driver's tires were properly inflated, approximately 2 billion gallons of gas would be saved each year. You may also consider relying on your vehicle less by walking short distances or carpooling. Sites such as www.erideshare.com allow you to search for fellow carpoolers that want to travel in the same direction as you.

Green Technology

Some people may associate living green with abandoning all personal possessions and modern technologies to live on a commune. In actuality, some technological advancements can actually help reduce the amount of waste that ends up in landfills. Consider the options below. Keep in mind that the following tips are meant to help you get the most use out of items that you may already own; we are not encouraging you to purchase brand new equipment.

Go paperless! You can pay bills online, use electronic scheduling software, and send free electronic cards. Before you print, ask yourself if you really need to have a paper copy. Take advantage of organizing important documents using email programs or document folders in your computer system software. You will use less paper and will not have to purchase expensive ink cartridges as often.

MP3 players come in all price ranges and allow users to download single songs instead of buying expensive individual CDs. You may consider transferring your CD library to MP3 format and resell your CDs on sites such as www.ebay.com and www.craigslist.org. Resell stores such as CD Warehouse may also give you cash for your CDs. Visit www.cdwarehouse.com for a location near you.

Remember to properly dispose of your electronic equipment, also known as e-waste. If you can not use it, sell or donate the item. You can also visit www.earth911.org for a recycling or donation center in your area.

Seniors Beware of Financial Scams

2009-04-06T08:50:00.000-07:00

The Office of Community Oriented Policing Services reports that the elderly population easily become victims of a number of schemes. Common financial crimes against the elderly usually involve home repairs, investments, telemarketing, false charitable contributions, sweepstakes, and lottery schemes. Seniors should be very wary about divulging financial information over the phone or online. If the deal sounds too good to be true, it probably is. You may file a complaint with the Federal Trade Commission (FTC) at www.ftc.gov if you feel you or someone you know has been a victim of a scam.

Take advantage of the recent stimulus. Older Americans may see some benefits as part of the American Recovery and Reinvestment Act of 2009. This legislation will offer a $250 economic recovery payment for individual older persons and $500 for couples. According to the web site for the Social Security Administration, recipients will not have to do anything. Funds will be delivered in the same method that they receive Social Security benefits. Retirees who do not receive Social Security may also qualify, but may have to file a tax return. Payments are expected to be disbursed in late May.

The unemployed may also receive an extension and an increase in benefits as part of the American Recovery and Reinvestment Act. According to AARP, the number of unemployed aged 55 and older has risen 65% during the past twelve months.

At Credit Answers we strive to inform our customers to help build a long lasting relationship for our client base. We realize the road to living debt free is a tough one. We are there for you every step of the way.

Statute of Limitations Questions

2009-03-30T12:37:00.000-07:00

What do I do if a collector attempts to sue on an old debt?

We urge you to seek legal advice if you believe a collection agency is trying to collect on a debt for which the statute of limitations has already passed. Old, delinquent debts are also referred to as "zombie" or "time-barred" debt. This industry has become a profitable business for debt collection companies in recent years. MSN Money reports that debt buyers purchased $110 billion of old debts in 2006. However, zombie debt has also been the subject of concern among several Federal Trade Commission (FTC) complaints. Infringements included inflating the amount of outstanding debts, contacting consumers at work, and threatening to take actions that they did not intend to take such as reporting the debt to the credit bureau and legal proceedings. For more information about complaints against debt collectors, visit the FTC's web site and click on the "News" link.

Are there any debts that do not have a statute of limitations?

According to FairDebtCollection.com, a statute of limitations does not usually apply to federal student loans, certain types of fines, delinquent child support, and taxes.

DISCLAIMER: THIS IS FOR GENERAL INFORMATION PURPOSES ONLY AND IS NOT INTENDED TO BE LEGAL ADVICE. ANY INQUIRIES ABOUT SPECIFIC SITUATIONS SHOULD BE DIRECTED TO A LAWYER.

Credit Answers specializes in debt settlement, credit card debt negotation, debt management and avoiding bankruptcy. Credit Answers team of experts work to enable a new and fresh financial start for individuals with debt problems. We realize the importance of money in people’s lives and also the accompanied strain that debt can cause. Our team has helped thousands of clients across the nation.