To get a credit card with no credit, visit a bank for a secured credit card, pay off the secured credit card on time, and wait for the bank to offer an unsecured credit card after a set period of time. Avoid spending excessively on an unsecured credit card with advice from the owner of a debt settlement company in this free video on credit cards.

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WTFnoway.com that had an info-graphic showing the visualization of the debt of the Untied States of America.

Starting with the $100 bill, WTFnoway.com gives you an idea on how many stacks of bills it takes to make various amounts. They show what $10,000 looks like, then $1 million, and continued from there.  Below is a Visualization of what $100 million look like in $100 dominations.

The deficit alone is going to $1.7 trillion this year and the national debt is going to top $15 trillion by Christmas 2011 (assuming the debt ceiling increase goes through).

See our sidebar on the left for the current debt.

As big and scary as that sound, the number pails in comparison to the $114.5 trillion US unfunded liabilities. This is the amount of money the US government knows it doesn’t have to fully fund Medicare, social security, military, civil servant pensions, and all the other good stuff we come to expect from living in the land of the debt.

What does $114.5 trillion look like? Go to WTFnoway to find out.

WTF?

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They are so catchy, I love them.

Anyone can dance a jig, or write a jingle, but only the FTC provides you with a truly free credit report at annualcreditreport.com.  It’s the ONLY authorized source to get your free credit report under federal law.

Listen to the lyrics, there’s a lot of truth in the matter.

NOTE: The Federal Trade Commission is headed by five Commissioners, nominated by the President and confirmed by the Senate, each serving a seven-year term. The President chooses one Commissioner to act as Chairman. No more than three Commissioners can be of the same political party.

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Download Your FREE Copy Here!  (PDF.  Right click and choose “Save as”..)

Courtesy of http://www.howdoigetoutofdebt.org/

How To Get Out Of Debt

There are many ways to get out of debt, some are slow and steady and others like bankruptcy are quick but somewhat painful depending on your circumstances. One sure fire way how to get out of debt though is to not create any new debt.

As harsh as that may sound, if you keep adding to your debt you will be eternally chasing it down, throwing money hand over fist at interest rates that even when low cost you dearly in the long run.

So agree to stop adding to your debt today! Stop using your credit cards, payday loans, lines of credit and title loans, these are just adding to the problem of how to get out debt. Some circumstances can seem impossible to overcome without just using that credit card one more time, one last week or month. If you didn’t have a credit card or any other type of credit solution you would probably surprise yourself at just how resourceful you can be.

So stop adding to your debt is your first how to get out of debt strategy. If this was all you did and you continued to pay off your current debt you would of course have it all paid off, eventually. Do you want your debt gone now? Is it too much of a burden, beyond anything you can cope with? Are debt collectors ringing you off the hook, are you expected in court to answer to unpaid debts?

Declare Yourself Bankrupt

If things are to a point where you can’t see a way out, where the debt is so much bigger than you can fathom then you could declare yourself bankrupt. To do so would be unusual you might think but not really. There are people who voluntarily will go bankrupt rather than bear the weight of their insurmountable debt for one minute longer.

If you do declare yourself bankrupt there are some serious ‘side effects’ that you need to be aware of however the one major benefit is that all your debts are gone in one foul swoop. Some debts aren’t included such as tax debts, fines and things like child support payments etc, but generally the type of bad debts from credit cards, car loans and store cards are no longer your problem.

There is a great deal more to think about before you decide whether to declare yourself bankrupt but don’t be afraid to investigate it. Bankruptcy has set some people free who’ve had financial problems so big they simply couldn’t cope.

How to get out of debt will be different for every individual but stopping adding to your debt and continuing to pay off as much as you can on your current debt are two ways that will ensure that you achieve your goal. Loan consolidation and second chance loans are other options that you can consider to help reduce expensive credit card repayments attached to high interest rates.

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Debt: The next big American crisis? Instead of accumulating wealth, many are falling further behind on payments. Dateline looks into a fundamental economic problem: the debt epidemic.

Chriss Snyder has $25,000 dollars in credit card debt that she’s trying to get under control. She describes a potential trap that could cost you big money. The economy is in freefall, and no one’s sure where rock bottom is. And as the mortgage crisis and mounting job losses melt away the American dream, another fundamental economic problem is being exposed: America’s debt epidemic.

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Calculating Budget and Budget minus Paid Difference for Other Expenses and Income in this free series of personal finance video from our professional Certified Public Accountant (CPA).

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This video teaches how to live your life in a stress-free environment. “The New Business Game” is a way to run a business or do your job without feeling negative pressure – thus ncreasing your enjoyment and success.

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Many retirees choose to work past their retirement. Balance your work schedule and free time using these tips.

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Debt Management Tips to Eliminate Financial Woes

Innumerable people in the US are found to be submerged in the sea of debts. There is a remarkable rise in consumer debts, especially in the post-recession US. So, consumers who are struggling to pay off their debts often rely on debt management programs. This program makes the repayment plan affordable for the consumers to pay off and they effortlessly eliminate the debts. You can successfully manage your debts if you follow the simple tips given below:

Prepare a budget

If you prepare a budget, you can manage your monthly expenses and avoid incurring more debts. You need to maintain a record of your monthly expenses as it will help you to track the amount that is draining out. Budgeting helps to restrain the habit of overspending and you can save a considerable amount by curbing your extravagant lifestyle. The fund that you saved can be utilized to pay off the creditors. But make sure that you do not dissuade from your budget plan; otherwise you might incur more debts. In addition to this, you must enlist all your debts to make the next step easier.

Consolidate your high interest debts

It is advisable to consolidate your high interest credit card debts with low interest loan. It will be easier for you to manage your multiple credit card bills and also expunge your high interest debts with a single low interest loan. The monthly installment will be affordable for you if your debt consolidation company negotiates with your creditor to reduce it.

Avoid borrowing

If you are juggling with multiple debts then you should avoid taking out new loans as it might complicate your current situation. Financial crisis force the consumers to take out payday loans to deal with their fiscal emergency, but these loans can be a curse for you in this catastrophic situation. The new loan might compound your debt burden without providing a solution to your problems.

Rely on debt management counseling

A debt management counselor can help to give the right advice according to your financial situation. These financial experts will guide you to regain financial independence and prevent you from getting into debt in future.

They would interact with your creditors and negotiate with them in order to reduce the owed amount, annihilate miscellaneous fees and to abridge the rate of interest. The creditors might not agree to all these but can give their consent to any of the combination so that the debtor can pay off the debts comfortably.

Therefore, if you employ debt management tips carefully, it will wipe out your debt terror and would release you from its clutches easily.

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As part of our ‘Life Events after Retirement’ video series, Retirement Services Representative Anttionette discusses Change of Address after Retirement.

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