Credit Debt Consolidation

May 10, 2010

Credit debt consolidation is a way of combining all of your high interest loans into a single loan at a lower interest rate. Consumer credit such as credit cards, revolving credit, etc. often charge them the highest interest rates on the planet. A credit debt consolidation move will help you lower the interest rate. A [...]

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Debt-free Consolidation

May 7, 2010

Is there any such thing as a debt free consolidation loan? Yes. Obviously if you are taking out a loan you are not debt-free. But a consolidation loan may be an integral part of your strategy to become debt-free. Everyone is excited about the destination of their debt free journey. But much of the value [...]

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Free Credit Consolidation

May 7, 2010

Is there such a thing as free credit consolidation? No. Of course not. No one is going to give you a loan for free. You’re going to have to pay for one way or another. Credit consolidation works the same way as any other loan. The lender makes money off the interest you pay. That [...]

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Debt Free Consolidation

May 7, 2010

At first glance debt free consolidation seems oxymoronic. If you are getting consolidation loan, you obviously aren’t debt-free. Being debt-free is a journey. It is a process for most people. You can’t just wake up one day and decide you’re going to be debt-free. It’s about making good wise financial decisions that separates you from [...]

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How to decrease your credit limit

May 5, 2010

We’ve had a number of people asking how to decrease their credit limit. Obviously this isn’t what most people are trying to do. It took me awhile to understand why someone would want to do that. After all, most people want to increase their credit. If you have a low self control threshold, it may [...]

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Borrow from IRA

February 11, 2010

The IRS rules say you cannot borrow from your IRA. But can you? Are there loopholes? There is a way to borrow from your IRA. It isn’t that the IRS wants you to borrow from your IRA. They have made it clear that this is against the rules. However, the rules that allow you to [...]

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Roth IRA vs Regular IRA

February 11, 2010

There are two primary types of IRAs. Regular IRAs allow you to put in money and not pay tax on it upfront. Roth IRAs allow you to pay tax on the money upfront but not pay tax on any increase. Both strategies can be very useful in retirement planning. Roth IRAs allow you to take [...]

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Borrow on margin

February 11, 2010

One method that is often overlooked when people need cash is borrowing on margin. If you have investment accounts where money is placed into the stock market and mutual funds, you can often borrow against those assets using something called margin. Margin was created to allow you to invest more money than you have by [...]

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Debt Consolidating Refinance

February 11, 2010

If you have a bunch of high interest debt but have equity in your house, you might be able to create a do-it-yourself debt consolidation loan to refinance. Refinancing your house is a process of getting a new mortgage to replace the old one. If your house is worth substantially more than what you all [...]

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Housing Credit for 2010

February 8, 2010

The $8,000 housing credit has been extended for 2010. There are also some new credits available to people moving–even if they have already owned a home. Given the number of homes on the market–particularly the number under foreclosure–this can be a great time to get a very good deal. Lenders are much more careful, so [...]

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