By Dan Benson
Monetary consultant Dan Benson exposes the twelve largest blunders humans make with their funds and obviously demonstrates how readers can circulation from monetary lack of confidence to monetary freedom. confirmed, useful aid for negotiating the monetary minefields of existence.
1. Misuse of credit
2. Letting greed take control
three. deliberating this day and never tomorrow
four. Motor toys - the most important money drain
five. Failure to address the "set aside"
6. now not understanding what to do with the $
7. no longer taking good care of the "temple"
eight. both an excessive amount of or too little insurance
nine. Following fads vs. staying the course
10. Lackadaisical giving
eleven. Letting Junior devour away your nest egg
12. no longer profiting from tax breaks
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Mom and Dad for your unconditional love and support. My son, Robert, for being my inspiration and hope. Jen Reed for helping me overcome writer's block and get my priorities back in order. Page 5 CONTENTS Author's Note 7 Introduction Why Read This Guide? 9 Part 1: Is There Really Life after Debt? Chapter 1 Counting the Cost of Credit 14 Chapter 2 Late Payments and Debt Collectors 27 Chapter 3 Guerrilla Tactics for Rapid Debt Reduction 39 Chapter 4 Going Bankrupt without Going Broke 48 Part 2: A Do-It-Yourself Guide to Credit Repair Chapter 5 Credit-Reporting Agencies 58 Chapter 6 Credit Scoring 69 Chapter 7 Special Problems Facing Previously Married People 73 Chapter 8 Women, Minorities, and Credit 76 Chapter 9 Disputing with the Credit Bureaus 79 Page 6 Chapter 10 Disputing with Creditors Directly 88 Chapter 11 Negotiation Strategies 91 Chapter 12 Aggressive Legal Tactics 98 Chapter 13 Questions and Answers About Credit Repair 103 Chapter 14 Starting Over with a New Credit File 107 Part 3: Appendices Appendix A The Fair Credit Reporting Act 122 Appendix B The Equal Credit Opportunity Act 185 Appendix C The Fair Debt Collection Practices Act 224 Appendix D Where to Get Help 241 Appendix E Addresses of Federal Agencies 243 Appendix F Federal Trade Commission Offices 245 Appendix G Other Books by Bob Hammond 247 Index 249 About the Author 255 Page 7 AUTHOR'S NOTE There have been some alarming developments in the credit system since the last edition of Life After Debt was published in 1996 that directly affect consumers.
Use all the dealer-incentive money you can get and go to your bank or credit union for your financing. Tell your bank representative that your purpose is to pay off your loan as rapidly as possible. Insist that your loan terms allow early payoff. Ask if it is possible to borrow the entire amount you plan to finance for 90 days, promising to refinance the balance into a monthly payment plan at the end of that time. This time allows you to add as much as you can to your down payment. During this period, work as much overtime as possible, have garage sales, or sell unnecessary assets to gather more cash.
If there was also a service charge of $1, the finance charge would be $11. The annual percentage rate is the percentage cost (or relative cost) of credit on a yearly basis. This is your key to comparing costs, regardless of the amount of credit or how long you have to repay it. Again, suppose you borrow $100 for one year and pay a finance charge of $10. If you can keep the entire $100 for the whole year and then pay back $110 at the end of the year, you are paying an APR of 10 percent. But, if you repay the $100 and finance charge (a total of $110) in twelve monthly installments, you don't really get to use $100 for the whole year.
12 Stupid Mistakes People Make with Their Money by Dan Benson