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Protecting Yourself from a Debt Relief Company

If you are seriously in debt, you may need the help of a debt relief company. These companies promise to get the creditors off of your back, negotiate for you, act as a shield of protection, and guide you to the right way to pay off that debt. Unfortunately, for a majority of these companies, the real goal is to scam you out of any remaining assets that you might have. Here is what you need to know and need to look for in a debt relief company, in order to protect yourself. First of all, why would these companies … Continue reading →

Five Signs that You Are Living Beyond Your Means

You could be living beyond your means and not realize it. Why is this a problem? Well, when we live beyond our means, we can quickly run up debt. This debt can snowball until it becomes hard to manage, a real crisis. That is why it is so important to recognize the early warning signs and make the changes that are necessary to get your finances back on track. Sometimes it seems as though you are supporting your lifestyle and don’t have a problem paying for anything. After all, your credit cards aren’t being turned down at the store, and … Continue reading →

Things That Could Affect Your Credit Score

Keeping your credit score in good shape is as easy as carrying as little debt as you can and paying your bills on time, right? While most of the time those two simple rules – simple to understand but not always simple to execute – will keep your score at its best, there are some things that you may not be aware of that could be making your credit score lower than it could be. There are things that most people know will affect their credit score such as applying for loans and credit cards, but there are other things … Continue reading →

What Type of Bankruptcy Should I File?

I would always counsel Frugal Living and Debt Reduction before filing bankruptcy, but what if you really don’t have any choice? While filing for bankruptcy can really decimate your good credit for a long time, it can also give you the breathing space that you need to start over, to rebuild a healthy financial future as you learn to live at or below your means. There are two forms of bankruptcy that are open to you: Chapter 7 and Chapter 13. While you should talk to a lawyer to find out if either of these options are best for you, … Continue reading →

Health Insurance Issues After Your Employer Goes Out Of Business

The majority of Americans who have health insurance are getting it through their employer. Often, the possibility of being able to get health insurance is the biggest reason why a person seeks out a job with a certain company. When that company suddenly goes out of business, this will have a major impact on the lives of the employees. If this happens to you, there are some things you need to know about how your employer sponsored health insurance will be affected. If an employer offers any kind of health insurance to it’s employees, it will be a form of … Continue reading →

Wait, Are You Sure that They Aren’t Still a Company? – Part 3

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Here is my final installment of companies that have gone out of business, often unbeknownst to me! Compaq Oh, I don’t think this bodes well for my dad’s computer! In the Eighties and Nineties, Compaq was one of the largest sellers of personal computers. Then in 2002, Compaq merged with Hewlett-Packard. Compaq was only around for 20 years (1982-2002), but in Computerland, that is like 100 years for a regular business. General Foods Corporation Here is another one I didn’t realize wasn’t around anymore. General Foods began in 1895 and in 1985, it was acquired by Philip Morris Companies (now … Continue reading →

Wait, Are You Sure that They Aren’t Still a Company? – Part 1

There is a weird thing that happens as you age – you forget that things change! Oh, I know that my son is getting older, I know the president changes from time to time and I know that my favorite television show “Sex and the City” is no longer broadcasting new episodes. But, there are companies that I grew up with that aren’t companies anymore and sometimes I just forget. I mean I still remember when Nissan was Datsun! I forget that companies go bankrupt, get bought out, etc. And some, I was so used to having around, I knew … Continue reading →

Is the Short Sale Right for You?

Despite the downsides, the reality is that sometimes you have to sell your home even in a bad housing market. One result of this mark is the increasing popularity of the short sale. What is a short sale? Well, there are two applications for the definition. In the first, you are selling your home for less than you paid or for less than what you have remaining on your mortgage. You are in negative equity. It doesn’t seem fair, but if you purchased your home in the last two to five years, and need to sell it today, this negative … Continue reading →

Bankruptcy… Should you??

I came across a thread in our forums today about Bankruptcy Law. It got me thinking we should have a money blog discussion on whether or not bankruptcy is good or bad. Unfortunately, many individuals see bankruptcy as a quick solution to their debt ills. Sounds cool to have a magic fairy come in and wipe your problems away. This specific Families forum thread noted the changes in the laws recently. Luckily the changes try to address this magic fairy situation, basically forcing bankrupt individuals to still pay their debts through a slower managed method. “Luckily” you may ask. Shouldn’t … Continue reading →

Credit for Your Home Business?

Credit can be both a help and a hindrance. When you need a boost to your cash flow or to make a major purchase that you don’t have the cash for, then credit can help keep your home business humming without a glitch. But, taking on credit and debt is a financial obligation that many fledgling businesses just aren’t ready for. Getting credit in your business name (as opposed to personal credit) can be tough. You will need to have all your ducks in a row and be able to demonstrate stability and viability for your home business. Some people … Continue reading →