Break These 5 Financial Habits To Become Debt Free
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None of us are perfect when it comes down to bad habits, but some are worse than others; not understanding your debt or finances is one of them. Kicking these bad habits into touch means that you can look towards becoming debt free:
1: Too many credit cards – Did you know that there are more credit cards than people in the UK? According to APACs, at the end of 2007 there were 73m credit and charge cards compared with around 60 million people.
Having too many credit cards means that you have the potential to get into too much debt. Although introductory offers many tempt you in, it is important that you take control of your credit card debt. Start by paying off the highest APR cards means that you can look forward to becoming debt free in a much quicker time.
2: Spending more than you earn – Spending more than you earn by living beyond your means is a financial habit which you need to nip in the bud right now. This is the quickest way to get into debt, especially if you regularly have to relay on your credit card the week before pay day.
3: Missing credit card payments – Always make sure that you meet your credit card, store card or catalogue payments as they fall due. Missing these payments not only means that you will have to pay late fees but any missed payments will also show on your credit file, which could make it more difficult to get accepted for credit in the future.
4: Losing touch of your finances – Being unaware of how much cash you have in the bank to how much debt you have outstanding means that you have lost touch with your finances, which will make it harder to become debt free. Checking your credit report is a good way to see your own credit history.
5: Not seeking debt help when you need it – Sadly debt problems will not sort themselves out, and if you are missing credit card, store card or even mortgage payments then you need to seek help as soon as possible.
Debt Free may be able to offer you one of our debt solutions which could help you to control your debts by reducing the amount that you need to pay to your unsecured creditors. Getting help about your debts mean that, if you qualify, you could look forward to becoming debt free in 60 months with an IVA.
Watch the video related
Congress says that with no way to actually pay back our debts, faking a coup to eliminate financial obligations is the best plan for the US economy.
Help answer the question
Will my past debts become a burden to my fiancee once we are married?
I am currently engaged to my fiancee. I have a foreclosed house and a car that got repoed, I owe back taxes on the property and thousands on the car not mention other credit card debts.
My question is, when I get married, will my past debts NOW become my wife's debts? Will she become responsible for the money owed?
debts
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19 Comments
August 9th, 2009 at 4:44 am
Why Octavia,,,,they should name it like Zimbabwe or something…
August 9th, 2009 at 5:07 am
I wouldn't use any of them they are rip off artists. They take your money and do nothing, been there done that. Go to Consumer Counseling, in every city or county, it is free, non profit and they don't charge but they will contact all the places you owe money to and get you with lower payments and great ways of getting out of debt !! They are well known by all companies and acknowledge Consumer Credit Counseling as serious and good to work with .
August 9th, 2009 at 5:19 am
Nope. Send them back with a copy of the death certificate but do not put your name and address on the letter!
August 9th, 2009 at 5:54 am
All Hail Octavia!!
August 9th, 2009 at 7:42 pm
yes, they will.
August 10th, 2009 at 1:14 pm
NO EFFECT AT ALL BOTH DIFFERENT COUNTRIES WITH NO CONNECTIONS IN THIS TYPE OF THING AT ALL
NO COUNTRY CAN IMPOSE ANY LAW IN ANOTHER COUNTRY
IF YOU BANKRUPT IN ONE COUNTRY YOU WILL STILL OWE MONEY IN THE OTHER
August 10th, 2009 at 10:27 pm
damn i hate those fucking Octo squads!
August 11th, 2009 at 12:00 am
“Someone save the records of our debts”. LOL!
August 11th, 2009 at 1:34 am
its partially taken from a movie called the mouse that roared, where a bankrupt tiny european nation realizes that if they stage a ‘takeover’ foreign countries would rush to it’s aid with money and food.
August 11th, 2009 at 2:38 am
Things may have changed, but unless a collector has a court judgement against you they can not on thier own take money out of your account without your approval. One major exception to this is the federal government. So, unless your debt is with the government, and you do not have a judgement against you, then they can not touch it.
August 11th, 2009 at 3:17 am
xD I love the Onion
August 11th, 2009 at 3:24 am
Your bills pile up high.
August 11th, 2009 at 7:27 am
I assume your talking about credit cards. If the original creditor or the collection company they either hire or sell your account to takes you to court and gets a judgment they can attach bank accounts, garnish wages (if your State allows it) and file liens on any real property you may own like cars, boats, land and homes.
They can not take the property but neither can you sell it without paying the lien.
August 11th, 2009 at 4:32 pm
If you are able to settle the debt, settle it….Bankruptcy as the last post stated stays on your credit report for 10 years…the debts stay for 7 years, and will show as included in the bankruptcy. If you decide to pay them off, make sure you request a pay to delete so they take them off your credit report. To settle would be easier if you have the available money to do so. In the future when trying to finance anything new, they will look at your current payment and not necessarily the old debts. Chapter 7………no it's no easier, it's easy to pay an attorney, it's easy to file, take the credit counseling and wait to have it discharge…It's hard to re-establish credit, harder to buy things in the future, and harder to find jobs if the check your credit report for employment. There is nothing easy about filing a bankruptcy. If you do file, learn from it and re-build and try not to do it again..there is life after it, but, it's a tough road to climb! Good Luck!
August 11th, 2009 at 9:21 pm
Oh yeah! Take that, China! Bless Octavia!
August 12th, 2009 at 1:15 am
yeah! it’s bad enough when they subtly insinuate things to my sister, but me too? it’s pretty uncomfortable.
God Bless Octavia!
August 12th, 2009 at 7:58 am
Ask lenders for agreement to delete this items from your credit report when paying them. I recommend to get such agreement thru credit repair agency, for example this one – credit-report-free.totalh.com
August 12th, 2009 at 8:21 am
Best part is at: 1:09
March 4th, 2010 at 7:18 am
Spending more than you earn by living beyond your means is a financial habit which you need to nip in the bud right now. This is the quickest way to get into debt, especially if you regularly have to relay on your credit card the week before pay day.