We have also included the ability to copy and past your resume and attach with the application.

We will also be adding a more detailed benefits overview in the near future.

So if you or someone you know is looking for work and lives in an area in which we are hiring please fill out an application.

Thanks,

Rick Munster

www.DebtReductionServices.org

1-877-OUT-DEBT (688-3328)

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Information found on credit reports and that three-digit number called a credit score havebecome such integral decision-factors in our lives.  Do you feel as though you are now judged upon your credit report and credit score more than ever?

We have the opportunity—and the right—to see our credit reports and ensure that they are accurate, which is especially important before you apply for a loan. Here are some steps to taking advantage of the FACT Act to monitor your own credit:

• Pull your credit regularly at www.AnnualCreditReport.com.  We are entitled to one credit report from each of the three bureaus every 12 months.  That translates into three credit reports per year for FREE!  If you really want to stay on top of your credit monitoring, pull one report every four months rather than pulling all three at once.
• Keep in mind that we are able to dispute inaccurate information.  If you see something that just doesn’t look right, dispute it with the credit bureaus by going directly to their websites or by writing to them.  If the item is negative, but it is indeed accurate, it will have to stay on the credit report until it is due to come off (generally 7 years for negative information).
• Anything a credit repair company can do legally, you can do for yourself.  Just as you can pay someone to cook your meals, clean your house, and mow your lawn, you can also pay somebody to “clean up” your credit.  Save yourself some (or a lot of) money by writing your own dispute letters.
• Keep a paper trail.  One advantage of sending a dispute by mail is that you can include copies of supporting documentation and send them by certified mail.  Always write down who you talk to, when you talked to them, and any other pertinent information each time you speak with a creditor.  It’s easy to get lost in large organizations with multiple international call centers.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

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Financial forums scheduled at Tulsa Library

Tulsa Business Staff
2/24/2010

Financial forums are scheduled at the Tulsa City County Library in March and April.

The three-part series is sponsored by the Tulsa County Bar Association and Tulsa City County Library, according to a spokesperson.

The purpose of the forums is to educate the Tulsa public concerning financial matters in a difficult economic time, the spokesperson said.

All sessions will be from 7 p.m. to 8 p.m. at the Hardesty Regional Library, 8316 East 93rd St.

There will be presentations by panel members and an opportunity for the public to ask questions.

The first session, set March 11, will focus on debt management and consolidation.

Iris Philbeck with Legal Aid Services of Oklahoma and Robert Johnson with Debt Reduction Services will dispel the myths of debt elimination services and offer actual solutions to debt issues. Participants will gain insight into basic budgeting, controlling personal spending and everyday financial planning to help individuals live virtually debt free.

Long-term Financial Planning & Security will be discussed on March 25.

The public is invited to join the panel who will provide information on Social Security benefits, different investment options and other retirement programs.

Attendees also will learn how to be aware of investment scams and what actions to take if they feel they are a victim of investment fraud.

Speakers include Vicky Watkins with the Social Security Administration, Irving Faught of the Oklahoma Securities Commission, and attorney Travis Barnett, who will speak on military retirement.

Bankruptcy 101 is the topic set April 1.

This session will be from 7 p.m. to 8:30 p.m.

Considering filing bankruptcy? Legal Aid Services of Oklahoma attorney Victor Hunt, Wayne Kindrick of Consumer Credit Counseling Services and local attorney Sid Swinson of Gable & Gotwals will provide the ins and outs of bankruptcy, what it involves, what the creditors expect, and what a person can expect as they begin rebuilding their credit.

For additional information, contact Robbie Sittel, 918-596-7926, rsittel@tulsalibrary.org, or John Thomas Hall, 918-284-0310, john_hall70@yahoo.com.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

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We saw an interesting poll from Bankrate.com that asked how people envision themselves getting financially ahead, particularly in a difficult economy.

Not surprisingly, “Saving and Investing” was the number one answer, at 36%,  followed by “Additional Education or Job Training” at 23%. Running your own business (which is actually the most common profession of millionaires in this country) was fifth at just 6%.

The most stunning figure was the 9% of respondents that identified “winning the lottery” as their best chance at financial success. We’ve heard the lottery and other games of chance called a “tax for people who are bad at math,” and there’s a good reason.

The reality is that the lottery should NEVER be played in hopes of winning. That may sound odd, but chances of winning are overwhelmingly against lottery players. For EVERY SINGLE winner trumpeted loudly in the local and national media, there are tens of thousands, if not millions, of people just like you who spent money on a ticket (or dozens of tickets) and were stuck with NOTHING.

To put into perspective your chances of winning the multi-state POWERBALL lottery, even if you purchased FOUR TICKETS EVERY week for FIFTEEN YEARS, you are MORE LIKELY to…

1. Win “Deal or No Deal” nearly 2,500 times IN A ROW;
2. Be injured by lightning 9 times during your lifetime;
3. Be killed by lighting;
4. Find a four-leaf clover on your first try 6 times IN A ROW;

In difficult economic times, despair can lead us to irrational thinking. If you think purchasing $20 worth of lottery tickets each week is a good investment, take a moment to consider the following odds: If you invest that same $20 every week ($87/month) into the stock market and continue doing for 20 years (even through rough economic times), you can REASONABLY EXPECT to have $55,000 or more to your name. That includes $35,000 in interest alone!

When it comes to betting, that’s as close to a sure thing as you can find!

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

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As we quickly approach the February 22, 2010 deadline for implementation of many aspects of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD), we’ve been seeing some “interesting” marketing ploys by several credit card/banking companies.

CARD makes major changes in the way credit card companies can market, extend and administer credit to new and current card holders. One CARD stipulation prohibits allowing card holders to go over their credit limit for a fee without their express permission.

Being referred to as an “Opt In Opportunity,” this new provision prevents cardholders from being charged an “over limit” fee (averaging over $39 per month) whenever a purchase pushes their balance beyond their credit limit.

Hypothetically (and surely many times in practice), a card holder could go over their credit limit with something as small as a coffee purchase at a local coffee shop. The card holder believes they have made $2 or $3 in credit card purchases for the day. In reality, though, their balance has actually grown by over $40 because their creditor has added a $39 over limit fee! And unless the card holder pays down their balance to below their limit, they will be charged the same $39 over limit fee every month.

Cutting down on these fees is a painful pill for the credit card companies to swallow, since over limit, late, and other fees have constituted a significant revenue stream in recent years. Like any imaginative and assertive business, what are they doing to minimize the impact of this law? Getting creative.

Beware if an offer arrives in your mailbox touting the following credit card account “benefits:”

• Convenience: Accidentally going over the credit limit is not a “convenience,” it’s a money losing opportunity for the card holder and a money making opportunity for the credit card company.
• Flexibility: Card companies may be flexible with the card holder’s credit limit but are not nearly so flexible when it comes to removing the $39 average over limit fee.
• Emergency: If it’s a true emergency, get on the phone with the credit card company and ask for a credit limit increase, even temporarily. Real emergencies may merit the $39 fee. Regular shopping and purchases do not.
• Safety net: The best financial safety net you can have is not a credit/debit card that will charge you nearly $40 for going over your limit but an emergency savings fund. Even if you have to start small, at least start saving today.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

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Debt Reduction Services and the National Financial Education Center

Click Here for the Guide

We created the guide to help clear up some misconceptions of what Debt Consolidation is and what it isn’t.

We’ve added some tips and items to look for when seeking help with your finances.

There will be future updates to the guide so feel free to check back periodically.

Also, if you know anyone who is seeking financial help and are not quite sure of where to turn, this guide is a great start.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

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Wikepedia Definition:  Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed rate or for the convenience of servicing only one loan.

Debt Consolidation Loan: There are two different types of debt consolidation plans available to consumers. The most common being a loan in which the consumer borrows a lump sum of money to pay off all debts. The consumer is then left with one monthly payment back to the lender.

Often these loans are secured with collateral such as a home that is paid for, property, or other items of value.

Although the interest rates on a consolidation loan may be lower than the interest rates of many Credit Cards, the risk factor associated with consolidating in this manner can be high, dependant upon the collateral used in order to get the loan.

Debt Consolidation with Credit Counseling: Not all Debt Consolidation plans are the same with Credit Counseling, however, the overall scope of the plans are similar. Debt Consolidation, mostly referred to as a Debt Management Plan, is the act of consolidating all unsecured debts into on monthly payment.

The monthly payment is made to the Credit Counseling Organization and then sent along to the creditors. Many creditors reduce interest rates, and stop late or over the limit fees for consumers that work with Credit Counseling. This helps consumers pay their debt sooner than if they were to continue making minimum monthly payments on their own.

So what is Debt Settlement?

Debt Settlement is the act of negotiating with your creditors and asking them to settle for less than what is owed on your account.

Debt Settlement is considered to be the most harmful to an individual’s credit rating and is generally considered to be a last option before bankruptcy. If you or someone you know is considering a debt settlement service, I recommend reading this article, Debt Settlement: A Costly Escape by Smartmoney on MSN Money.

I hope this helps clear up any questions you may have regarding Debt Consolidation.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

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Debt Reduction Services and the National Financial Education Center

According to results of a Charles Schwab survey, released June 4, 2009, nearly 40% of Americans are not savings for retirement and over 60% have not adjusted their retirement needs or investment strategy in the current downturn.

Rather than simply accept the thought that you’ll just have to work past the typical retirement age, please consider the following suggestions:

1. Start NOW! If you have not started to put money away for retirement, do something today. Even if it’s $5 a month into a standard savings account, set up an automated transfer. Later, increase the monthly contributions.
2. Pay Yourself! As you pay off any debts you currently owe, take those same monthly payments and pay yourself. For example, once you pay off a credit card debt that is currently requiring a $250 monthly payment, begin putting that $250 each month into your savings plan.
3. Remember Inflation and Taxes! Annual inflation averages a little over 3%, and most all of us have to pay some sort of income or investment tax. Combined, they can easily average about 4.5% annually. That means that just to break even, our investments need to return at least 4.5%. Putting your money into Certificates of Deposits or savings accounts only may be a “safe” investing strategy, but you’re also all but guaranteed to lose value in your investments EVERY year.
4. Find a trusted advisor. Financial planner’s are not just for “the rich.” Ask around for referrals. Ask someone you admire if they have a planner they respect. Find someone with experience, a track record of success, and someone who wants to build a long-term relationship of regular financial counseling, not just someone trying to sell an insurance policy

Trusting that your financial future will take care of itself is not a financial plan. Take time, ask around, and do some research. You’ll find that investing in yourself will pay undreamed of dividends for years to come.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

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1. NEVER lease a vehicle for personal use!

Think of leasing a car the same as renting a car, only instead of two or three days, it’s for 24-36 months. Unfortunately, when you return the car to the owner (leasor), your old car will NOT be waiting for you.  Leasing carries many fees at the agreement signing, often including first month’s payment; a refundable security deposit; your last month’s payment; other fees for licensing, registration, and title; a capitalized cost reduction (like a down payment); an acquisition fee (also called a processing or assignment fee); freight or destination charges; and state or local taxes (source: Federal Reserve Board, 2005).

You are also responsible for additional mileage fees over the set limit (typically around 12,000 miles per year or less), excessive wear and tear on the vehicle, and usually a standard fee when returning the vehicle.

You may think that by leasing you’re able to get into a more “expensive” car than you otherwise could, but in the long run, you’re shortchanging yourself by putting much more of your hard earned money into the pockets of leasing company executives.

Keep in mind that automobiles are meant to get us from one place to another, not to make us feel better or give our ego a boost (such consequences, if they do happen, are only temporary and superficial). And remember that a car is a WANT not a NEED. If you consider your vehicle necessary for your physical survival (a true “need”), then it becomes very easy to justify getting a newer car, a larger car, a nicer car, a shinier car, one that’s cooler, faster, louder, roomier, stronger, cuter…. You get the picture. And when you do get to the point of buying a vehicle, remind yourself that car debt is BAD DEBT… You will almost NEVER sell your used car for anywhere near the same amount of money that you’ve put into it. So minimize the amount of money you borrow to buy a car.

If you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.

1-877-OUT-DEBT (688-3328)

www.DebtReductionServices.org

Debt Reduction Services and the National Financial Education Center