Five Steps to Lose Debt, Get Credit Fit

Posted by administrator | 03/06/12 | Tagged Credit Card Debt

Five Steps to Lose Debt, Get Credit Fit
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Getting in shape for bathing suit season can be just as daunting as paying off outstanding credit card debt. If you adopt a regular exercise routine and reduce your calorie intake, however, you can walk into a dressing room with confidence. That same determination can help you get your finances in shape.

Here’s how to start a healthy financial fitness routine that will help you shed some of that unwanted debt and learn to use credit wisely.

1. Set small goals. As much as you would like to, you can’t lose 20 pounds in a week — or years of debt in one month. Don’t be intimidated, though.  tart by Your best chance of getting all the way out of debt starts with taking a realistic picture. “Before you even set up goals, see where you stand,” says Scott Gamm, personal finance expert and founder of HelpSaveMyDollars.com, a consumer education site. Tally up the balances on each of your credit cards, your student loans and any other debt you have, and then figure out how much you can reasonably afford to throw toward this debt, he says.

Once you’ve done your number crunching, take a page out of weight loss plans that incorporate a jump-start period designed to shed a few pounds early on and encourage you to move forward. “Work to pay your

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Time to attack credit card debts
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Question: I received a large bonus, and I’m going to use it all to pay down credit card debt. I have many cards. They all have about the same outstanding balances and about the same interest rates. At one time, most of the cards were “maxed out,” which was bad for my credit score. 

My bonus won’t pay off everything, but I want to improve my credit score as much as possible. Should I pay off a couple of cards entirely, or should I make larger-than-usual payments to all of them, bringing down the outstanding balances substantially below the credit limits? Thanks. Henry, Chicago, IL 

Answer: Good for you. In circumstances such as yours (and keeping your credit score in mind), what I would do is look at the outstanding balance on each card and the credit limit. I’d focus on paying down the ones where the balance and the credit limit are close. You’ll want the ratio at 30 percent and (preferably) less on all your cards.  

After that, since the rates are similar, the best approach probably reflects more psychology than mathematics. You might enjoy a sense of reward if you eliminate the debt on one card and then move to the next. Alternatively,…………… continues on Marketplace.org

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Talk Your Way Out of Credit Card Debt!: Phone Calls to Banks That Saved More Than ,000 in Interest Charges and Fees

Learning how to talk your way out of credit card debt is the quickest, easiest, and most efficient way to start saving money! It’s true! You can call your credit card banks to negotiate a better interest rate and have fees waived! However, it may not be as easy as picking up the phone and asking. That’s because bank representatives are trained to deter you from pursuing the deals you deserve. Overcoming their tactics can be difficult when you don’t know what to expect. Scott Bilker, author

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Innovative New Merchant Services in Texas

Posted by administrator | 03/06/12 | Tagged Credit Card

Innovative New Merchant Services in Texas
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