An overview of Iva Debts

August 5th, 2011 - 
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Once in a while you may have fallen into debts due to use of credit cards as an easy form of getting loans. However, the past situation should not be daunting because there is a way to prevent the repeat of the past mistake. This is justified by the common adage that says making a mistake is not a mistake but repeating it is the mistake.

There are IVA debts management plans that are designed to help you offset your debts in a more affordable and convenient way, if it has not piled up to very serious level. Nonetheless, if your debts pill to a level close to bankruptcy, Individual Voluntary arrangement can help you offset the bad IVA debts If you are a UK resident, the arrangement can help you settle the debts thus save you from being subjected to stigma and trauma due to the possibility of being declared bankrupt.

It is important to note that the plan is only available in the UK. All you have to do is to identify a company that offers the plans and through their insolvency attorneys, the process will be set in motion. The insolvency practitioners have good articulation of the laws governing settlement of IVA debts.

An IVA is a legally binding agreement that you make with your creditor on how to pay IVA debts. The plan entails one paying a reduced amount of IVA debt that is owed only with the consent of the creditor. Once the deal is struck, you are subjected to regular submission of payments to the creditor for a period of five years at affordable intervals. Upon the expiry of the five year period, the unsettled IVA debts are written off. For sure, this is a big relief to the debtor.

The first initiative of taking control of IVA debts is drawing up of a proposal. It is done with the help of the debt management company that you have assigned to act on your behalf. All you have to do is to give them information on your financial situation, income and expenses and then they use the information to seek an interim order from a court.

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What Is Bum Marketing: How To Make Money With A

January 12th, 2011 - 
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What Is Bum Marketing: How To Make Money With A $5 Budget

Bum marketing is so called because even a bum can make money using this method. You need no outlay and can start with nothing. Absolutely zilch!

I had absolutely zilch because I had maxed out 7 credit cards. I used to laugh when I read about others doing that with just two, but I did it myself in spades! My only word to you would be very careful how you use PPC programs like Adwords because I wasnt. But thats another story.

I discovered bum marketing because if there is one thing I am good at, it is writing. Bum marketing involves finding a profitable niche, or one that could be profitable. It has to be something with a reasonable large following, and a reasonable number of topics attached to it. Like fly fishing or quilting, or something similar. Something that is followed by people you would expect to have money. You dont want people flinching at paying $97 for a product related to their hobby or interest.

You then have to find some decent keywords. For bum marketing it doesnt matter too much if there is competition for them, but not too general. Not quilting but perhaps hand quilting machines or deep throat quilters. Then get a website set up. You can get a cheap functional site for under $5 a month and then set up a website. A sales page for a product and a few pages with some content. If you can get it, register a domain name that is the same as, or relates to, one of the keywords you have chosen.

Write a few articles on the topic of your website, and use one for each of the web pages. Bum marketing is all about article writing. You should have one web page for each keyword you are using relating to your website. Find a few products to sell. If you have your own then great, but if not sell affiliate products.

Then write a few more articles and submit them to article directories. Each directory will allow you what is known as an Authors Resource Box in which you can say a little about yourself and provide a URL for people to click on for more information. The URL should lead to a page that relates to the topic of the article, and should ideally be a text link with the keyword or phrase that is the title of your web page. The text link should be hyperlinked to the page; what is termed an active link.

If the directory does not specifically provide a Resource Box, you can add that information after your article. It has to be included and will go with your article whenever it is copied and used. The article will not only bring you traffic, but also valuable links back to your web pages.

It is important that you continue to write and keep pumping out new articles. I like to write two every week and send them off to the top 25 directories. Thats all I have to do because most of the top 25 provide material to other directories, and before you know it your articles are all over the internet. Thats bum marketing.

As I said, even a bum with no money can do it. I know, because I was that bum at one time. I am no longer!

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The Woes Of Credit Card Holders And Salvation From 0%

October 8th, 2010 - 
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The Woes Of Credit Card Holders And Salvation From 0% APR Cards

A typical American household has over nine credit cards. You may be dragging a debt of $6,000, but many are worn out in the struggle to pay their credit balances of over $25,000. In 2006 alone, less than 42% of credit card holders paid their credit in full per month. If you are one of these deadbeats, read on.

The siren call of credit card companies

The offers of credit card companies are hard to resist. If you are getting your first credit card, you may have been enticed by the tantalizing baits of:

“freedom to earn triple rewards”
“get started with cash back when you apply now”
“the more you spend, the more you earn points or cash”
“low fixed rate with reward points”
“no penalty rates, no rate hikes for late payment”

The benefits also include car rental insurance and travel accident insurance and the convenience of paying for anything you might need if you happen to be in any other part of the globe.

Now who wouldnt fall for these tricky words? And the credit card companies also tell you that you wont lose a thing when you switch from earning cash to points and back. True, but ask other credit card holders if the benefits outweigh the disadvantages. You may be getting some sad details.

Vicious Cycle

Credit card holders carry the burden of paying off loans, and before they can reach the finish line, they go again using their credit cards left and right, until they go bust.

This overwhelming cycle goes on without respite. Only those who take the bitter lesson start to think smart, spend less (unless it is necessary), and pay their credit cards debts on time to beat interest pile up.

There are stories of people who prefer to disappear from the face of the earth when they can no longer manage their debts. This act of desperation may not speak for all credit card holders, but this shows how difficult it is to cope with a life riddled with debts.

How to get back your sanity

Here are some useful tips to help you to organize your credit card debts before running to the mortgage companies:

Get all your credit cards and check the balances you have from each card. List all the current balances and get the minimum payment for each card. Rank each balance according to the lowest and highest interest rates.

Pay the credit with the lowest balance and go upwards to the next credit card with the second lowest balance. But dont expect to be debt-free in a year. It may take longer if you have maxed out on the number of credit cards.

Credit card holders tips

One technique is to apply for a 0% APR credit card and try to transfer your high balance to that new card. You can make minimum payment for the duration of the 0% APR.

Calendar the due date of the balance so you can transfer to another 0% APR card, BUT PAY YOUR BILLS ON TIME to avoid interest rates that go as high $30 per month.

If you are getting a 0% APR card, read the small print and digest the facts about balance transfer fees. If the fee is less than your current charges, then get it.

People are wising up. Its about time to know the game that credit card companies are playing. So play smart and avoid the woes of majority of credit card holders.

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The $10,000 Credit Card Challenge

September 20th, 2010 - 
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Thinking about conquering your mountain of debt but too scared even to give your debt much thought? Read this real-world scenario of how one person erased $10,000 of credit card debt within a few years.

Ever wonder how some people deep in credit card debt manage to come out on top financially? This is the hypothetical but realistic story of Emily, one person who dug herself out of $10,000 in credit card debt in just a few years.

Never a big spender, Emily was shocked when she noticed that her two credit cards had a combined balance of $10,000. What happened?

* Emily took a lower-paying job when the economy went bust at the turn of the millennium.

* Hoping her lower income would be temporary, Emily didn’t sell her house to get one with a lower mortgage. She didn’t sell her expensive car to buy a cheaper one, since she would get much less than she had paid for it. In reality, the thought of driving a less-nice car was painful

* Emily paid only the minimum monthly credit card payment most months. She was paying interest, and interest on interest, buying the privilege of having the credit card company hold onto her debt another month.

* When one of Emily’s credit card balances got within a few hundred dollars of the credit limit, her interest rate on the card skyrocketed from 17 to 27% .

Loans: Emilys Salvation?
Emily considered taking out a loan to pay off her credit card debt. She owned a condominium whose property values had increased 40% since she bought it, so she could easily get a good low-interest second mortgage.

But a loan scared Emily: it would mean admitting her debt would not go away soon. Besides, Emily wanted to get rid of her debt, not trade (her unsecured debt for secured debt). Plus, she knew that if she ever couldn’t pay the second mortgage, she would lose her house, while failing to pay credit card bills would just mean a ruined credit rating.

For about a year, Emily argued with herself over whether to take out a loan to pay off her credit card. Then catastrophe hit: her beautiful car was totaled in an accident. While shopping for a new car with friends, Emily finally had to admit to herself that buying another car like the one she had had would be financial suicide.

Finding an Answer
Emily cried and cried as soon as she got home from the car dealership that day. It wasn’t just that she would have to admit that she wasn’t someone who could afford the car she had been driving. When Emily’s parents were her age, they had already bought a five-bedroom house; Emily’s one-bedroom condominium was already a stretch. If she ever got married to a man with the same financial picture as she had, she wasn’t sure they’d be able to afford children. Growing up, her parents had always told her she’d do better than they had. What went wrong?

Emily did not have to think hard about what went wrong. Her father had been able to pay for college with what he earned at summer jobs, and then got a manager-level job straight out of school. Between college and graduate school, Emily had accumulated $70,000 in student debt that she was still slowly paying off. Houses in Emily’s town, even adjusting for inflation, cost several times what they did when Emily’s parents bought one. Cars had leaped in price about as much. The only thing that hadn’t gone up was income.

Unable to cope with having less than her parents had, Emily had used her credit cards.

Solving the Problem
Emily knew that since her lack of financial skills had dug her into her rut, she would need outside help to dig herself back out.

She had heard about credit counseling services that took large chunks of the payments you made against your debt, so she was careful. She found a counseling agency that was a member of the Better Business Bureau, American Association of Debt Management Organizations and whose credit counselors are certified through the National Institute for Financial Counseling Education. Doing a quick search on the web, Emily verified that these were organizations with real standards and not just empty names.

Here’s what Emily got from the credit counseling service:

* Relief. Emily was relieved to learn that her $10,000 credit card debt is in fact about average for Americans. The credit counseling agency showed her that even if she didn’t have the advantages she hada decent job and home equityshe would be able to rid herself of her debt if she just faced up to it.

* Surprise. The agency urged her to put money away for a rainy day fund, even as her credit card interest mounted. But once she started saving, she felt amazing. She realized she had been under enormous stress from always being one paycheck away from poverty.

* Understanding. The counselor understood Emily’s reluctance to take out a loan, and helped her create a budget that would let her pay off her consolidated debt within a few years. Besides the car, all Emily had to give up were smaller expenses.

* Clarity. With her finances planned, Emily could think much more clearly about her financial situation. She figured out how much more money she would have to make to have her desired lifestyle, and aggressively pursued a new job. Starting fresh with her new coworkers, Emily focused on meeting people who were less materialisticand even met her fianc.

Though her fianc has no better financial prospects, Emily’s confident they can afford to give their children all the essentials she had, even if in a smaller house.

After all, Emily knows that solid finances are just as good a shelter as a roof over your head.

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Start Using A 0% Credit Card Today

September 11th, 2010 - 
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It would have been unthinkable just a decade ago, but now it is common place in the UK to hear of zero per cent credit cards. Brought about by fierce competition, both from UK and American lenders, and also by historically low interest rates, zero per cent credit cards have become extremely popular. Today, it is almost impossible to find a lender that does not offer some form of zero percent credit card. They simply have to if they want to compete in the business as it is run today. However, before you start signing up for a zero per cent credit card, you should be aware that there are different types of zero per cent card and you will need to be aware of what it is you want to use the card for before you decide which type is right for you.

The first thing to consider is cash advances. These are typically charged at higher than normal interest rates and it is still extremely unusual to find a credit card that will give you a cash advance at zero per cent. So if you are looking for zero per cent cash, then it is unlikely that a credit card is going to give it to you.

Zero per cent purchases however, is something you might have a better chance of getting. There are now a number of cards on the market place that offer customers zero percent on new purchases. So if you would like to for example buy something large and expensive, and cannot get a good financing deal to fund the purchase, then perhaps buying it on a zero per cent on purchases credit card would be a good way to go. You will be charged no interest at all, and will have the entire interest free period, usually of six to nine months to pay back the amount without incurring any interest charges.

Probably the most common form of zero per cent for a credit purchase is on balance transfers. So if you find yourself paying a lot of interest on existing credit card balances, then you could look into transferring this balance onto a new credit card that offers you zero percent to do so. This has the potential of saving you hundreds of pounds in interest payments.

Finally, if you are one of those customers that is in the habit of paying off your credit card bill in full every month, then you will not need a zero per cent card at all. This is because you already pay no interest. In this case you would be better of looking for a card that offers some cash back or other form of reward rather than a zero per cent interest.

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Its Easy To Find A 0 APR Credit Card

August 12th, 2010 - 
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Millions of Americans have credit cards, using them almost every day for everything from mundane things like groceries to exciting purchases like vacations. But unless you already have a 0 APR Visa, Mastercard, or Discover credit card, chances are youre still looking for one. Who wouldnt want a credit card that offered 0 percent APR?

The APR is the annual percentage rate, and it determines how much interest you pay on your credit card. No-interest credit is the best, obviously; a credit card with no APR means youre paying back only the amount you borrowed, with no additional charges. When the bank makes you a 0 APR credit card offer, youre liable to jump at the chance! But you dont need to wait for the bank or credit card company to come to you. You can get a 0% APR credit card yourself.

First youll need to check your credit score. The credit card companies are more likely to give you a low-repayment credit card as a reward for being a low-risk consumer. Get a copy of your credit report from one of the online sources available — youre entitled by law to one free credit report per year — and see if there are any blemishes that might prevent you from getting a 0 APR credit card. You should check your report even if youre sure youve never done anything to earn bad credit, because mistakes can creep into your report. The last thing you want is to be denied an interest-free credit card because of something you didnt even do!

Once youve confirmed your credit report is solid, or done whats necessary to clean it up, you can apply for a credit card with confidence. There are two ways you can go about getting no-interest credit. One is to approach your current credit card companies and request a lower interest rate. Tell them youd like to do a balance transfer, point out your positive credit history, and ask for zero APR credit. Many times, they will give you 0 APR for a period of six months or a year, which is fine: Before the time is up, you can set up 0 percent APR on a different card and transfer the balance. If your credit stays good, you could move your balance from one card to another indefinitely, thus keeping 0 APR credit for the life of the loan.

Another option is to open new credit cards that have 0 APR offers. These are easily found online, and the 0 APR credit card is usually an introductory offer, which means it switches to a higher APR after six months or a year. The same procedure applies: Take advantage of the offer, and then transfer the balance to another 0 APR credit card before the time is up. Before you get any new credit cards, though, be sure to check into their policies on balance transfers. Some have different APRs for balance transfers as opposed to purchases.

With a little work and careful spending habits, its possible for anyone with good credit to get a 0 APR credit card. Why should the credit card company get all your hard-earned money with its fees and APRs? No-interest credit is the way to go. Good luck, and happy spending!

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0 Balance Transfer Credit Card Are They Worth It

April 8th, 2010 - 
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It’s a plastic ocean out there with numerous banks and financial institutions scrambling to sell you their 0 balance transfer credit card. And there are so many kinds of credit cards available in the market that a credit card user gets intimidated and perplexed about which card to choose.

The result is that he often chooses the wrong card and then regrets his decision when he’s already neck deep in problems with his credit card account.

So, never pick up a 0 balance transfer credit card without considering some crucial factors. Here is a small guide that can help you decide which type of credit card you must pocket.

Guidelines to choosing a credit card

Ask yourself, “Why do I need a new credit card?” Is it because your current credit card carries a higher rate of interest, or is it because you want to use it exclusively for your business, or is there any other reason? Zero in on the reason why you need a new credit card.

Once you have the reason, you must check out what kinds of credit cards are available in the market. Here is a brief dossier:

(i) Regular cards/Business cards are cards that give you a spending limit based on your income tax papers. The business card is just like a regular card, except that it comes with some schemes that dangle carrots before you.

(ii) Charge cards are cards that are linked to your bank account and they charge your account the minute you swipe the card. You cannot carry forward a balance with a charge card.

(iii) Reward cards are credit cards that earn you points every time you swipe them and such points are redeemable for some goodies (air tickets, supermarket goodies, etc.) at selected establishments.

(iv) Then there are cards for people who have a bad credit history. These cards carry a low spending limit and a higher rate of interest. (v) Prepaid cards are another type of credit card that are mostly used by teens and some kids too. The parent makes a deposit and the card is valid until the deposit is used up.

(vi) Secured credit cards require that the cardholder deposit a certain percentage of the credit limit upfront into their bank accounts.

Once you have decided what kind of a credit card is right for you, do a comparison between different brands of cards. Compare their rates of interest (APR = Annual Percentage Rate) and also check whether they carry an annual fee.

What grace period or no-payment period they offer you, how do they calculate the interest, whether the rate of interest is an introductory rate, whether rates of interest will vary on cash withdrawals, billing cycles, penalties on balance transfers, and so on.

Voila, there you are! If you follow these basic guidelines, you will be successful in pocketing the right 0 balance transfer credit card that suits your needs. And that is the easy part,the difficult part lies in maintaining a credit card and keeping your credit history clean.

But, that’s another story!

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How save and make money

January 8th, 2010 - 
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If you save money, the money will save you

The problem with most peoples finances today is that they are not getting enough income to satisfy their needs and wants. People are naturally going to buy things they want even if it means spending more than they have (credit cards), and they know in the back of their minds that they cant afford it, but they will get it anyway. I think people will develop their own budgeting scheme when their income meets their wants then they will be budgeting masters, all by their selves. But till then there will ALWAYS be people in debt no matter how much you preach!

I think a solution to some people money problem is to teach them how to make extra money first, and then teach them how to budget and save it. Americans really dont want that much; it is the hobbies that get people in trouble, bills, spending too much on golf clubs, car parts, computers, things around the house etc.

I dont know about you but this is how I feel about life. Right now, I am working a 9 to 5 job making $3200 monthly. I dont want to be stuck knowing that I will be ‘working’ for the rest of my life, taking orders from bosses, putting up with BS and other peoples attitude, having to get up in the morning when I want to sleep in and that fear of getting fired. Currently, I am in this situation but will not be soon. There are people right now making well over $20,000/monthly working for their selves and they are everyday people that you see walking their dog, in supermarkets or even that person arguing with the McDonalds cashier. If these people ever do go back to work for someone else they can do it “stress free” even if the job is stressful (think about that).

Before, you can work for yourself you have to decide one thing: If you really want that responsibility. If you said yes, you have gotten over the biggest hurdle and you will not be limited to the income your employer is giving you. I know what I am about to say will be over simplistic but I will save the details for you to research on your own. Here is a breakdown

1st: determine if you really want self-employment
2nd: decide what area of business you want or good at.
3rd: If step 2 requires money, their are program out there that can help you get started in internet business, selling or something else before you start in what you want to do. For example, “I want to own a photography shop but it costs $10,000 to get started. Well, if I sell product A for a year I can do it”. You never know, whatever you get into before your dream business may make you $50,000 a month and you may forget all about that photography shop. I can help you here too.
4th Research, research and do more research. Find out what you competition is. Find out how much money they are making. Find out where they are advertising. Find out what it takes to get started. Find out where your customer are etc, etc, etc..research
5th EXECUTE!! I mean once you have confidence go do it.

They say that 90% of home businesses fail for the first time. And you may fail, but all you have to do is try and try again, please dont give up. Believe me, you will get it right and when you do, you will be very successful. The percentage of people who fail for the second and third time is much lower than the first timers. Well sorry to talk yall half to death, I can go on and on about this stuff.

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0% Apr Credit Card Coping With Your Finances

November 21st, 2009 - 
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Credit cards are a big responsibility. When they are used improperly, they can disrupt your future financial solvency and cause you other cash flow problems. The more you know about credit, the more likely you will use this powerful tool wisely.

Nevertheless, credit card users nowadays are making a giant leap from the typical shopping experience to a cashless shopping extravaganza. It is very easy to get in over your head with credit cards.

With the endless shopping convenience that credit cards can bring, more and more people are encouraged to get credit cards and use them to the maximum amount of the credit line.

However, many people are reluctant to explore other credit card choices. That is why, in spite of the credit card’s popularity, credit card companies have had to incorporate enticing promotional tools that will hook customers interest to apply for a credit card.

Among the many credit card offers dominating the industry today, 0% annual percentage rate (0% APR) is the most common. Many credit card users see this as enough of an incentive to make the switch to another credit card.

By definition, an annual percentage rate refers to interest rates that are paid on purchases. The APR is expressed in a standard format to allow comparison between credit cards. These interest rates are reimbursement to the issuer of accrued expenses, in order to make the loan to the borrower and other fees required. As you might imagine, there must also be some profit for the issuer as well.

Normally, 0% APR is provided during an introductory period by credit card issuers. After that time , any balance on the card would accrue interest until the debt is paid off.

The Concept

In an average credit card, annual percentage rate charges range from 6 percent to as much as 30%. Understandably, people would prefer credit cards with lower annual percentage rates (APRs).

This could be a daunting task for credit card companies that are not well established to keep up with the competition. Hence, they try to find another way of offering the same promotions, but with a new or different twist.

This is when 0% annual percentage rate comes in.

Credit cards with 0% annual percentage rates are the most popular. However, one should clearly remember that 0% annual percentage rate does not last forever. In most cases, this offer lasts only for about 6 months. This is known as the introductory period.

Credit cards with 0% APR work best for people who transfer their current balances on other credit cards to the new credit card. Through debt consolidation, 0% annual percentage rate works for the borrower by cutting back monthly interest expense. It can also save time for the borrower by making only one payment per month. The best approach would be to try to pay the balance by the end of the introductory period.

Statistical reports show that most of the charges that consumers pay are focused on interest rate charges alone. The average interest rate that the credit card owner pays is 18.9%. Keep in mind that late charges can be charged if a payment is received by the credit card company even one day late. This late fee can increase your expense, and ruin an otherwise good payment plan.

Hence, with 0% APR, consumers can definitely cut back on their expenses, and use more of their dollars toward paying off their debts.

So before you grab that dazzling offer of 0% APR on a given credit card, try to consider some factors first.

1. Research

If you have heard about 0% APR credit cards but do not exactly know how it works, it is best that you learn more about it through research.

Learn more about annual percentage rates and how 0% APR credit cards work. Through research, you would be able to know that they only work for 6 months and after that period, you can no longer enjoy this offer.

2. Read the fine print

Indeed, 0% APR credit cards can give you more advantages than you can imagine. Just remember to read the fine print. Many credit card owners are blind-sided by expenses and fees after 0% APR has expired. Most of the time this is because they have not read the fine print. The only way to compare credit card offers is to read every part of the offer, and understand it thoroughly. It you don’t understand the terms or instructions, call the company and get clarification.

0% APR credit cards can be lifesaving packages; they can greatly reduce your credit card expenses. However, they do not necessarily provide you a lifetime advantage. You must make a plan to pay off the debt, and stick to that plan, if you want to successfully use 0% APR credit cards.

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