Get Your Holiday Turkey Free
I haven’t paid for a Thanksgiving turkey in years. That’s because I always take advantage of my supermarket’s holiday promotion where you earn a free turkey when you purchase a certain amount of groceries in the weeks leading up to the holiday. This year I snagged a 21 pound turkey that would have cost $35 without the store promotion.
Instead of the turkey we could have chosen a free ham, roasting chicken, or frozen lasagna. Many supermarkets offer free turkey promotions so it makes sense to read the store circulars that come in the mail or your local newspaper. Even if you missed out on a free turkey this holiday, keep checking with your local supermarkets because some run similar promotions for the Christmas or Easter holidays. Read the rest of this entry »
(2 votes, average: 5 out of 5)
Loading ...U.S. Government Looks to Stimulate Consumer Lending
The Washington Post reported that the Federal Reserve and Treasury Department are “creating a $200 billion program that will lend against highly rated securities backed by auto loans, student loans, credit card lending and small-business loans backed by the Small Business Administration.”
This is part of a larger $800 billion plan to help homeowners. The Federal Reserve will also be purchasing up to $500 billion in mortgage backed securities. It was also be buying up to $100 billion in direct debt from Fannie Mae, Freddie Mac, and Ginnie Mae. Read the rest of this entry »
(4 votes, average: 5 out of 5) Loading ...Snag Big Discounts This Holiday Season
It’s a week until Black Friday, the traditional start of the holiday shopping season. Although I normally avoid shopping on the weekend after Thanksgiving, this year I may be tempted to actually check out a few of the deals being offered by local retailers.
That’s because many retailers are slashing prices big time to lure in customers who have been reluctant (or unable) to spend because of the economy. I’m thinking that now may be the time to look for major bargains on a few things I’ve been putting off buying but need to get. But if I can’t pay cash for it I won’t be buying it. Read the rest of this entry »
(4 votes, average: 4.75 out of 5) Loading ...Decling Home Values Spell Trouble For Those Looking To Consolidate Debt
“Four out of five metropolitan areas recorded lower home prices in the third quarter from a year earlier, while existing-home sales fell in 32 states from the second quarter, according to the latest quarterly survey by the National Association of Realtors®.”
Underwriting guidelines continue to tighten. Lenders are requiring that homeowners have more equity than before.
Gone are the days of leveraging the full value of your home.
This all spells trouble for those consumers who were planning on utilizing available home equity as a debt consolidation loan.
If you’ve grown accustomed to borrowing against your home to pay off other debts, you may be forced to explore other debt reduction or elimination strategies.
(3 votes, average: 5 out of 5) Loading ...Dump Your Credit Card Debt
Anytime you carry over balances on your credit card you’re going to pay a lot of interest. Even if you currently have a special low-interest promotional deal, that interest rate is eventually going to increase. Use the following three tips to pay off your credit cards and slash the total amount of interest you’ll pay.
1. Pay more than the minimum balance due and you’ll methodically reduce the amount of the principal you owe. When you only pay the minimum amount due, you’re probably only paying about 2% to 3% of the total balance owed, according to the Motley Fool. Even if you can only spare a few extra dollars a month it’s worth it to put this toward your debts.
(3 votes, average: 5 out of 5) Loading ...Debt Settlement Companies Can Provide Valuable Assistance Consumers
“We choose not to work with debt settlement companies,” said Matt Towson, spokesman for Discover Financial Services, Riverwoods, Ill in an article for InsideARM.com.
Virginia O’Neil, spokesperson for the American Bankers Association (ABA), in the same article was noted as saying “the vast majority of banks do not have formal written procedures in place to deal with debt settlement companies. Settlements reached with the help of intermediary companies are typically the same as settlements reached dealing directly with the consumer”.
It would appear that hiring a debt settlement company, according to Discover Financial and the ABA, would be a waste of money.
For some, that would certainly be the case. For others, hiring a third party debt settlement company may fill a need.
(3 votes, average: 5 out of 5) Loading ...Facing a Utility Shut Off? You May Qualify for Energy Assistance
More Americans are having trouble paying their utility bills, according to the Wall Street Journal. And some consumer advocates and regulators are growing concerned about the growing number of homes that have had their utilities shut off because of unpaid bills—especially because more people may be impacted as the economy worsens.
Throughout the country utilities have shut off more delinquent customers than last year. The article states:
In Pennsylvania, PPL Corp. increased shutoffs by 78% in the first three quarters of the year compared with the same period a year earlier. Shutoffs at electric utilities throughout the state increased by 20% in that period… In Memphis, Tenn., the city-owned utility that supplies electricity, natural gas and water to residents cut off 38% more people in the first eight months of the year, or 69,743 electric accounts, versus the same period in 2007.
If you find yourself in this boat and are facing a utility shutoff, you may be able to get help through the Low Income Home Energy Assistance Program (LIHEAP). This federally funded program helps low-income households with their energy bills. LIHEAP may also be able to help you with weatherization and energy-related home repairs.
The program is targeted at low-income folks but eligibility rules have been expanded to allow people with higher incomes to qualify. That’s because state regulators say more people with higher incomes are having their power shut off. “We’re seeing an uptick in middle-class people who have never been in this situation before,” Eric Hartsfield, director of the customer-service division of the New Jersey Board of Public Utilities, told the Wall Street Journal.
It’s especially important that people with health issues, the elderly, and small children don’t go without heat for too long. Also, using stoves, portable heaters, and grills is dangerous and should be avoided, especially because carbon monoxide poisoning can result.
About the Author:
Francine L. Huff is a freelance journalist and the author of The 25-Day Money Makeover for Women. She has appeared on a variety of TV and radio shows.
(2 votes, average: 5 out of 5) Loading ...Banks Continue to Tighten Credit Standards
The New York Times recently reported on the results of the quarterly Federal Reserve bank study that takes a look at current lending practices.
“Besides the nearly 60 percent of banks tightening standards on credit card debt, 65 percent said they had tightened lending standards for other types of consumer loans over the last three months.
About 20 percent of the domestic banks reported cutting limits for existing credit card accounts held by prime, or strong credit, customers. Credit card lenders have been reducing customers’ credit lines, raising interest rates or even closing accounts as they tighten the reins to reduce their risk.”
This is not good news for those consumers looking for options to reduce or eliminate their consumer debt through a debt consolidation loan.
(3 votes, average: 5 out of 5) Loading ...- This blog covers a wide variety of debt consolidation and loan topics.
We rely on a large network of financial experts and leading authors to write the content for the DebtHelp.com Blog.
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Chris Rocks is the Regional Director of the National Credit Federation (NCF). NCF is a nationwide membership-based organization that assists consumers recovering from a financial difficulty and those who need a significant increase in their credit score.
Chris began his financial services career as a Financial Advisor helping young families with risk management and asset accumulation strategies. It was during that time that Chris realized that many of these young families also needed someone to guide their choices with regards to debt management.
He made the transition into the mortgage industry where he first worked as a loan originator and later the Vice President of a small mortgage company. As Chris came across clients who had suffered through financial challenges and saw the difficulty they had in re-entering our credit driven economy, he discovered there was a real opportunity to leverage his unique background and help others.
He can be contacted by visiting his personal site, GoodCreditLiving.com.
Francine L. Huff is the Publisher and Editorial Director of Super Savvy Publishing, LLC, which provides editorial and publishing services. She is a gifted author, freelance journalist, and motivational speaker who has entertained and motivated a variety of audiences through workshops, panels and keynote addresses. Francine is the author of The 25-Day Money Makeover for Women, which has inspired and motivated many readers to rein in poor financial habits, become good stewards over their money and work toward a debt-free life. She has appeared on a variety of TV and radio shows. Francine previously worked for the Wall Street Journal, where she was the spot news bureau chief, a news editor and a copy editor. She has interviewed a variety of financial professionals about financial issues and strives to present information about managing money in an easy-to-understand format that is accessible to people of all backgrounds and income levels.
Karen Lawson is a freelance writer with more than 15 years of experience working in mortgage banking and loan servicing. She holds BA and MA degrees in English from the University of Nevada, Reno. She enjoys writing informative articles about debt management and personal finance.
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