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What is Credit Counseling

Credit counseling is professional counseling provided by organizations to help people find ways to pay off their debts. People usually use this as a last recourse when they have serious debt problems. Credit counselors advise their clients by suggesting ways like careful budgeting and management of money. They can also negotiate with creditors to get them waive charges for late payments, extend the term of the loan and lower interest rates.

How do you choose a credit counseling agency? Most of these organizations are non-profit or they charge fees which are affordable. Of course one wouldn’t want to be in further debt by acquiring the services of credit counselors who charge such high fees. Furthermore, you must choose a credit counseling organization that is accredited by a respectable network of credit counseling agencies. Also, do a search on their track record if they have given satisfactory service to their clients. Do not accept offers of those who urge you to make “voluntary contributions” which would add more to your debt.

Besides helping the client develop a budget and manage finances, counselors also offer free educational materials and workshops. They must be certified and trained in the areas of consumer credit, money and debt management and budgeting. Initial counseling lasts an hour and during this time the counselor will discuss the client’s entire financial situation and will provide preliminary steps in developing a financial plan to solve the client’s money problem.

Services of this kind are offered through local offices, the internet or on the phone. It is greatly advised however to discuss financial matters through person-to-person counseling.

Financial Freedom Radio – Do You Know What You Don’t Know?

Financial education is lacking in the general public with even people who have degrees in finance and business being financially uneducated. The “ostrich syndrome” is alive and well in the financial world and that is where these institutions want you to be.

Financial education is something that the masses don’t have and because of the lack of it they end up becoming slaves to the financial institutions. Lumped into this category are the people who have degrees in business and finance. Just because an individual has formal education in finance it doesn’t mean that they are financially educated. They have been educated by the teaching institutions into the ways of the financial institutions.

Any person who has financial education, and educated by a teaching institution has been educated to leave the teaching institution and get a job within an industry and assist in making that company within the particular industry stronger. If they are not an asset then they have no value to the institution they are employed by. So all of the financial education is pro-business!

Translate this to the financial industry and look at the financial education that people receive by the teaching institution; it is pro-financial institution. How do the financial institutions make their money? They make their money on the backs of the consumer, by selling products to the end user. The consumer is the end user! You see anything that makes one group stronger will make the other group weaker. So what makes the financial institutions stronger makes the consumers weaker, because the financial institutions make their money selling products to the consumer. They must “extract the cash” from the consumer in some way or another and justify it as right.

So all of these financial planners and advisors are trained by the teaching institutions to make the financial institutions stronger and if they fall down on the job they get fired. The financial institutions operate under four basic rules;

  1. They must get your money.
  2. They must get your on a systematic and on going basis.
  3. They must hang on to it as long as possible.
  4. They must give it back as little as possible.

If these financial institutions violate these rules they are out of business. Therefore they have to get the consumers money, so doesn’t it make sense that the financial information that they sell to the public, is pro-financial institutions. Take a look around and survey what you do financially. I bet that the majority of the financial things that you do, are centered around the financial institutions in some fashion or another. Sometimes everything that is being done revolves around the financial institution in some way or another, and the financial institution get fees and charges from the consumers in almost everything they do.

Is the majority of your financial activity focused around the financial institutions? If you answered yes than regardless of your financial education, you are financially uneducated. Regardless, of your financial education if you are fueling the financial institutions you are working for them and all of you financial education has guided you right to them. I have worked with clients who think they know it all financially, and end up losing huge sums of their hard earned cash.

If everything that the financial institutions were doing was right then people would not be out living their hard earned money. They would be wealthy beyond dreams. But unfortunately the gains are taken by the financial institutions and little is given to the consumer. I have heard plenty of supposedly highly educated people defend these practices even though they were losing. Usually the people defending these strategies are the people who work for the financial institutions. Don’t get me wrong financial institutions have their place but it’s not fleecing the public.

Actually if you have no financial education you are better off because you have no preconceived financial notions. You are an empty canvas to be painted on and will find it easier to make shifts in thinking. Financial Freedom Radio is conducting a series on “Why You Should Be Rich”, you can listen live to this series of download past episodes. The show is Friday 9:00 AM EST. You can also download to you i-Pod through i-Tunes for free. Simply go to Podcast and type in “Financial Freedom Radio”.

No Good Credit Car Loans

People are increasingly having to deal with bad credit as we move forward in this century, and it could be for a number of reasons including increased pricing on everything, higher unemployment rates or just because people nowadays can’t control their money. Now most people like to believe that they have a hold on their credit but when it comes down to it not many people actually have a firm grasp on how their credit is doing. Your credit is one of the most important things you’ll need to maintain throughout your life and if you want to enjoy the many benefits of life then you need to always ensure you’re maintaining a solid credit score. If you happen to get in a pinch though and happen to have a bad credit score, then you aren’t put out in the dark and left alone, instead you’re still able to find financing it’s just a lot harder.

Although the economy isn’t doing to well in the States there are still tons of companies that will offer you a competitive loan even with bad credit. You might need to pay more then you would if you had good credit but at least the option is still available. Many people can’t get out of bad credit and they need loans still so without lenders being able to lend people with bad credit money there could be a huge problem.

If you have bad credit then you should try saving up a deposit to place on the car so that there is less owing on it, this way you’ll seem less of a risk to the lenders. The last thing you want to do is seem like a threat to the people lending you money for your bad credit car loan and if they get that impression often you’ll be turned down faster then you walked in. By putting an initial deposit of at least 10% on the car you show that you won’t be walking away from it any time soon. There are also lots of people with bad credit applying for these car loans so if you have a deposit you’ll be more likely to receive financing over someone who doesn’t have any money saved up for a deposit.

You should make sure you spend lots of time looking at the different offers available to you and then make a decision based on the research you perform. The car loan industry is still one of the most competitive industries in the market right now and if you shop around then you’ll have a better chance of finding a low interest and low fee arrangement. Typically people with bad credit have higher interest rates then people with good credit, but if you shop around enough then you can find good rates depending on how big of a threat they see you. If they feel you will pay the loan without any problems then you might be considered for a better interest rate which is something you’re aiming for when applying for your loan.

How to Maximize Your 0 Interest Credit Cards

It is nice to know that there is a good substitute to real money. You can always shop without actually worrying about the amount of money that you can carry in a particular time. Credit cards are actually a big help especially to those individual that don’t carry real money all the time. However, there is only one thing that prevents them from using their plastic cards – the skyrocketing interest rates.

There are plenty of tempting offers that the credit card companies give their clients in order to maintain their business in a good state. Sometimes you will see it in your television, hear it on the radio and even read it on your paper and see it on the internet – 0 interest credit cards. This is a very catchy offer especially to those who are addicted to shopping. What then is a 0 interest credit card and how does it actually work?

0 interest credit cards are just like your normal cards. The only thing that makes it very interesting is that you can enjoy shopping for a certain period of time without worrying about having to pay interest rates. The question is “is this good?” It is certainly good but be warned that not all card companies offer this kind of opportunity. Normally, after getting the 0 interest card, you can enjoy shopping from at least 3 months up to 6 months. There are times that the offer extends up to almost a year. After that period, you would have to pay the interest charged on every item you bought using that card.

There are few expert shoppers that offer sound advice for those people who want to maximize their shopping using their 0 interest cards. First of all, you should know the period when the 0 interest promo period in your card expires. After knowing it, you can now enjoy your shopping for selected items that the 0 interest promo period covers. Take note that not all items are guaranteed to be included on the 0 interest coverage. As mentioned earlier, not all card companies have the same offer.

Next is that before the expiration of your 0 interest cards, you must immediately notify the card company that you are terminating your card so that could get a new one. Of course, you should not indicate that the reason you are terminating is that you want another 0 interest card. Before terminating your card, make sure that you are cleared before getting the next 0 interest credit card.

0 interest credit cards have indeed been one of the most abused and misused transaction tools these days. However, you cannot deny that having a 0 interest credit card is beneficial. All you have to do is to maximize it, clear your financial obligations because if you are not yet cleared from your previous card company, then sad to say, you cannot apply for another one unless you have fulfilled that obligation. In the end, only you could determine whether or not you would need to have another 0 interest credit card.

Finding You The Money- How to Convince Lenders to Lend you Bad Credit Money

Make no mistake. There is bad credit and there is really bad credit. Some people may have a moderate case of bad credit, whereas there are other people with acute cases that may include repossession and bankruptcies. Regardless of the severity of the bad credit case, there is still hope for anybody with bad credit when it comes to securing a bad credit home loan. I know this well, because I am dealing with such issues every day and I know just how good the possibilities are. Now I’m going to explain to you how a credible bad credit mortgage specialist can show you the money!

Finding you the Money
As bad as some situations may be, the reality is there are lenders in this country – and your city – who are more than happy to loan you the money. This said though, there are some sharks out there (yes, that old saying ‘loan shark’ is true) who are willing to really rip you off and take advantage of your situation, so you need to find a really competent, experienced bad credit mortgage expert to help you secure a good home loan. Credible companies that specialise in the area of bad credit mortgages make it their priority to not only find you a great home loan, but provide you with the financial guidance to help you achieve financial success now and in the future. In other words, these specialists groom you for a mortgage that works for you, in terms of getting you into a home, and on the road to financial success. They do this, and they find you the loan best suited for you – easily.

Bad Credit is an Opportunity for Working Towards Success
Lots of people think that bad credit and bankruptcy is the end of the world. Sure, it’s traumatic being hounded by creditors, threatened in letters of demand, losing your car and declaring bankruptcy, however it is an opportunity to turn your bad credit situation around. This is the only way you should look at the situation, otherwise bad credit and bankruptcy really will signify the end of your financially independent dreams. If you view your situation in this way, then you will overcome your financial hardship once and for all, and you will own your own home. With expert direction, you can follow a specific financial plan just for you. It will give you complete control over your finances and equip you with what you need to become a good money manager. This will make you attractive to lenders, despite your bad credit situation, because they will clearly see, with professional help, that you are on the way to a future that is financially secure.

Overcoming the Shame
Honestly, shame is what holds a lot of bad credit people back from seeking the advice and guidance they need to kill the old, bad money habits. If these people saw just what we a bad credit mortgage specialist can do for clients with money problems, more people would be enjoying a financially stable lifestyle. The step to achieving financial success and convincing a lender to show you the money is to enlist a team of experts in bad credit mortgages to groom you for financial success and home ownership. Make the decision to do this, and it will be one of the best decisions you’ll ever make. Find a reputable bad credit specialist to talk to today and find out how you can turn your back on bad credit, for good.