Archive for October, 2006

Playing The Credit Card Game

– By Priya Jestin, Staff Writer
For most of the month we live in a wonderland where we flip out a magic card every time we fancy something and want it. This magic (credit) card seems to be like the genie – ready to fulfill our every wish and whim. But the genie always takes his [...]

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Know Your Credit Rating

–By Priya Jestin, Staff Writer
How healthy are your credit ratings? Why do I ask? Well, because this thingummy called credit rating can actually affect the quality of your life? It could determine whether you lead a satisfied, happy life or find it extremely difficult to get the smallest of things done.
If you’ve ever applied [...]

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Losing It, Drop By Sweaty Drop

– By Priya Jestin
I was taking stock of my finances the other day – yes I do it sometimes. Well and what do I see? I was spending around 10 percent more than my salary on a monthly basis. Now, 10 percent didn’t seem too much so I brushed it aside. Big mistake screamed [...]

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Higher Rates For Credit Card Late Fees

– By Priya Jestin, Staff Writer
Now, here comes one more bit of bad news: Late fees for credit card payments have jumped, a new study by congressional investigators has found. The report, which was released recently by the Government Accountability Office, Congress’ investigative arm, describes the fees, interest rates and disclosure practices of 28 popular [...]

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Secured vs Unsecured Creditors

– By Priya Jestin, Staff Writer
When you are indebted to someone, it is good to know the kind of creditors you have. Generally speaking there are two broad categories of creditors: Secured and unsecured. A ‘secured creditor’ has a lien, or interest on your property, which s/he can use to satisfy the debt. [...]

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In Bankruptcy, Ignorance May Take You The Wrong Way

–By Priya Jestin, Staff Writer
In dire financial straits and cannot see a way out of it? Most of us in such a situation would opt to file for bankruptcy. Why would anyone want to lose much needed money and peace of mind when a bankruptcy can save you both. However, how many of us actually [...]

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Prevent Foreclosure With A Chapter 13 Filing

– By Priya Jestin, Staff Writer
Did you know that a Chapter 13 bankruptcy is also called a wage earner’s plan? That’s because it allows individuals with regular income to develop a plan to repay all or part of their debts. Uscourts.gov reports:
Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. [...]

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Get A Hold Of Your Taxes Before They Alter Your Life

Just married? Chances are you are still not prepared for teh tax consequences of your act. Many people learn the hard way that a marriage, divorce, birth, death, move or job change, can alter your tax status considerably. Tax experts urge their clients to spend a few minutes each fall to avoid nasty surprises in [...]

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Senior With Cards? Reconsider Please

If you are over the age of 65 and have numerous credit cards to your name, there’s one question that you probably need to ask yourself: "Do I need credit at this age? Most seniors, after a certain age, generally don’t buy a house, refinance their mortgage, or purchase a new car on credit. Courant.com [...]

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Stretching The Dollar

Have you ever wondered why things have gone so horribly wrong? Let me begin with a few figures:

In 2003 Americans had 1.46 billion credit cards, or five per person.
In 1946 households had 22 cents of debt for each dollar of disposable income.
Today that figure stands at $1.26.

I guess, in some way, [...]

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