We saw it coming. Last month Congress and President Obama changed the rules for credit cards by signing the CARD Act into law. A few weeks later, the credit card companies are already responding by increasing interest rates on existing customers. … [Read more...]
Credit Card Companies Extend Relief to Debtors in Debt Management Plans
April 16, 2009 By
Nearly all of the major U.S. credit card issuers have agreed to modify debt repayment terms for consumers enrolled in debt management plans, the National Foundation for Credit Counseling (NFCC) announced yesterday. If you’re struggling to repay … [Read more...]
How to Avoid New Debt When You’re Already Digging Out
April 14, 2009 By
Something I learned far too late into my twenties is that when you're trying to get out of debt, finding the money to pay down debts is only half the battle. Sometimes, it's even harder to avoid going into new debt than it is to pay down debts you … [Read more...]
Is That Degree Worth the Student Loan Debt?
April 2, 2009 By
Most don’t think twice about borrowing money for education. After all, borrowing money to pursue a college or graduate degree is an investment, right? We even call student loans “good debt” (as if there can be such a thing)! It’s true: … [Read more...]
In Recession, Save Cash Before Paying Debt: Do You Agree?
March 4, 2009 By
At first, I was shocked to read that Suze Orman is recommending you pay only your minimum credit card payments and instead save cash in an emergency fund. It’s a total about-face from what Suze and probably 98% of personal finance writers typically … [Read more...]
American Express Will Pay $300 for Closing Your Credit Card Account
February 24, 2009 By
Now here's a twist on credit card promotions: American Express is offering to pay certain cardmembers $300 (on a prepaid debit card) if they pay off their balance before April 30, 2009 and close their credit card account. To take advantage, you must … [Read more...]
The Worst “Creditaholic” I Have Ever Seen
January 5, 2009 By
Channel surfing last Friday night, I caught a few minutes of Suze Orman on CNBC. She had on her show not only the worst case of “living above your means” I have ever seen, but the worst case Suze has seen, too! … [Read more...]
Beware Loan Modification Scams
December 24, 2008 By
Loan modification companies are sprouting up left and right to take advantage of embattled home owners at risk of foreclosure. If this includes you; watch out. Some loan modification companies are nothing but down and dirty scams. … [Read more...]
Credit Card Debt: Eight Ways Out
November 17, 2008 By
It’s never a good time to be in credit card debt, but I’ll be honest: the nasty economic climate makes it an even worse time to be in debt. Creditors are jacking interest rates and employers are slashing jobs—a combination that could land … [Read more...]
When You Need to File Bankruptcy
November 12, 2008 By
Believe it or not, bankruptcy is not a dirty word. Yes, it’s far better to never go into bankruptcy. Most people seem to get that. But what many do not understand is that sometimes, bankruptcy isn’t just a way to protect yourself from … [Read more...]
I'm David Weliver. At 26, I had NO savings and NO financial plan. I was maxed out, stressed out, and fed up. Then, I changed. I repaid $80k of debt, tripled my income, and bought a home. I'll show you how to get similar results. 