banks / 3 posts found
Why A Debt Settlement Is A Bad Choice
In this video I give you 4 reasons to avoid Debt Settlement and Credit Card Settlement.. #1 A Debt Settlement ruins Your Credit Report # 2 If you settle on debt they will send you a 1099 for the difference. # 3 Credit Runs the world this is a fact. So when obtaining a debt settlement it paints a negative picture in the mind of the creditors you want to do business with. A debt settlement will also definitely hamper your chances for obtaining more credit in the future. #4 The debts you settle on could be sold and then […]
Saving Money Makes No Sense
In this video I review a great article on my favorite author Robert Kiyosaki from his popular website richdad.com The article’s title is Debt Trumps savings. The article debunks one of the most sacred cows out there and that is saving money. Now don’t get me wrong saving is good for immediate expenses and you will definitely need and emergency fund. It is definitely prudent to have at least 6 months to 8 months worth of liquid cash to cover all your monthly expenses. But after that point it really makes no sense to save cash. The Magic of compounding […]
Debt Settlement Companies
In this video I discuss debt, in particular Debt Settlement Companies. I point out there is two things you should know about your Credit and a Debt Settlement Company Any amount that they settle for or forgive will be counted against you as earned income. There is no guarantee the creditor you are trying to settle with will take less. The last time I checked the rules that they made for the banks and Bankers don’t go to jail and bankers get bailed out. So remember these two things when you are thinking about using a Debt Settlement company.