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Tips on Choosing a Legitimate Debt Settlement Company

When you have made the decision to get out of debt, and you feel that debt settlement may be right for you, you need to begin the questionsearch for a legitimate debt settlement company.  Recent laws have been passed that have helped weed out the good guys from the bad guys, but you should know what to look for and choose the best debt settlement company to suit your particular needs.

Debt settlement is a cost effective alternative to bankruptcy.  The first thing you need to look out for is up-front fees.  Debt settlement companies are NOT allowed to charge fees before a service is performed.  This means, no enrollment fees, not set-up fees, no administrative fees, NO FEES, PERIOD.  A legitimate debt settlement company only charges a fee when they obtain a settlement on your behalf.  Fees are usually based on a percentage of the savings the company achieves for you. Read More…

My Favorite Penny Pinching Tips Jamestown NY

I have to admit, nothing is more satisfying than saving money.  We all work long and hard for our money and it  just isn’t right to let it slip through the cracks.  You don’t have to clip coupons if that is not your thing, however, I would recommend it!  Sometimes it just takes a little homework on your part, and you can save yourself spendable, or save-able cash every month.

If you have a cell phone, this is one of the first bills I would give the once over.  Many of us have extra services or insurance plans on our cell phone that we will never use.  If your cell phone is over 6 months old, look into dropping any insurance coverage.  Most people upgrade once a year, and at an average cost of $6.00 per month, you could could save yourself, on average, $36.00.  Many of us also have a plan that allows us a certain number of minutes per month.  Call your cell phone provider and see where your average minute usage averages out to be per month.  You may be able to taper back on your monthly minutes, also saving you money per month. Read More…

Foreclosure Help Jamestown NY

When you are facing the possibility of losing your home, you are bound to have questions, and you aren’t sure where to get answers.  Most people in foreclosure can’t afford an attorney, so they feel alone and afraid.  There are laws in New York state that are there to protect you and you should know your rights and responsibilities and become empowered.

The first step in the foreclosure process begins when your mortgage becomes 90 days late.  If at all possible, prevent your mortgage from becoming over 90 days late.  After 90 days, the mortgage company begins to take legal action, and the legal fees begin to incur.  The first step the lender takes is to obtain a Lis Pendens  pending lawsuit, against you to secure their claim against the property.  If you can afford an attorney, now would be the time to contact them for legal advice.  If you do not have an attorney, don’t panic.  You have months to come to an agreement with your lender, and it is in their best interest to keep you in the home and work out a mutually beneficial agreement. Read More…

Ways to Pay Off Debt – Jamestown NY

When you decide to buckle down and pay off your debts, you need to consider a number of factors.  Remember you did not get into debt overnight, and you will not get out of debt overnight.  We may have different reasons to become debt free,  you may be just starting out and have a mountain of student loan debt to tackle, or you may be considering retirement and need to lessen the monthly budget so you can relax and enjoy your golden years.  Whatever the reason, there are some key factors to consider, and some basic steps to take. Read More…

Top 5 Ways to Prevent Identity Theft

We can blame it on a bad economy, or the ease of obtaining information online, but there has been a dramatic rise in identity theft in America, and just in the last week, it has affected people I know personally.  You can’t turn on the TV without coming across stories of people that have had their lives ruined by identity thieves.  Our personal information should be guarded and only given to trusted companies and we must also be aware of how to handle our own documents and receipts so we are less vulnerable to these scam artists.

Step 1- Do a Wallet Check

Many of us keep everything we think we may need in case of a nuclear meltdown in our wallets at all times.  Bad idea.  We have to carry our cash, drivers license, and our credit/debit cards, but that should be ALL we carry.  The biggest mistake people make is carrying their Social Security card with them.  Your Social Security number is all these creeps need to obtain enough information to, open a bank account, get a birth certificate, apply for a job, and get credit cards, all in your name.  This is the easiest and most important thing you can do to safeguard your identity from identity theft. Read More…

Christmas 2012 On A Budget

When it comes to the holidays, one thing is for certain, they come at the same time every year.  With that being said, how is it that we never seem to be prepared financially?  There are many ways we can either implement a savings plan, or budget, and take the stress out of Christmas this year, and even start planning for next Christmas!

Christmas Savings Plans

I remember as a child and young adult, my Grandmother always started a Christmas Club for me in December and by the next December, she gave me a check in the amount she had saved.  We can learn a lot from the wise elders in our lives, when it comes to living on a budget, and not using credit cards to finance every little thing.  A Christmas club is really just a forced savings plan that many banks still offer.  You decide your Christmas budget, either for one lucky person, or for your whole family, divide that amount by 12 and that is the amount you have to pay into the club each month.  In December, guess what, instead of wondering where you can pull the money from, it is sitting in an account, ready to be spent on your loved ones.  Now you can get out and enjoy the bustling malls, enjoy the Christmas music, and maybe even bake some cookies.  You just created a STRESS FREE Christmas!  So if you are feeling empowered by this little tip, take yourself to your bank today, and in December 2013 you will be ready. Read More…

Have a Charge Off Jamestown NY

What is a Charge Off

When a company charges off a debt, they are using that as a write off.  Many people make the mistake thinking that when a company charges off their debt, they no longer owe it.  This is simply NOT TRUE.  The company that charged off the debt can no longer collect it, but whatever agency purchased that debt, for pennies on the dollar, has ever right to collect the entire amount owed.  When your debt is charged off, you may have some leverage in negotiating a short pay on that debt.

When does a debt Charge Off

Most creditors will do extensive collection efforts before they charge off a debt.  The creditor knows that the sooner they are able to collect a debt, and with the least amount of time and effort, the more money they will be able to collect.  There is a point when the creditor has to cut there losses and this is where they charge off the debt.  When the debt is charged off, they can write off the debt at tax time.  A charge off usually happens between 90 and 120 days, when collection efforts have been unsuccessful. Read More…