One Man?s Brush With Bankruptcy
Having gone through a bankruptcy 7 years ago, I'm still feeling the shockwaves of that fateful event in the form of higher interests rates when I apply for loans, and living with the whole stigma that bankruptcy places on you.It was 1990. I was a freshman in college. Walking through campus, I'd be bombarded with credit card offers on a daily basis. One day I though, "why not?" I got my first credit card. $500 to do what I want, who can beat that? The problem was, that it was so easy to apply for credit cards I ended up applying for all of them, or so it seemed.
Actually, I had at least 5, and soon enough, they were all maxed out.And then I bought a car, which only added to my mounting debt.Fast-forward 7 years. I had amassed a serious debt, and I didn't even have a decent paying job to keep up. It was an overwhelming experience, to say the least, and in the end I decided that bankruptcy was the only option.They make it so easy to declare bankruptcy these days. The lawyers and their commercials tell you how low cost it is, and how simple. Just go into their office, fill out some paperwork, pay them their check, show up to court, and you're done.It's the aftermath they don't tell you about?the shame, the guilt, the disgrace that it places on you, the inability to get decent rates on credit cards and loans, or even rent an apartment.It's been 7 years now since that fateful day in court, when my slate was wiped clean.
As relieved as I felt for no longer having to deal with the insurmountable task of paying bills I could no longer afford to pay, I didn't feel very good about myself, and still don't.They say that a bankruptcy stays on your record for 10 years so I have 3 more years to go. In the meantime I'm getting married soon, so how do I tell my wife-to-be that we can't buy a house just yet? We have to wait three years. No, I haven't told her yet. I'm too ashamed.That's why I started Debt Relief Central to let people know that there are alternatives. Hopefully, people will learn from my mistakes and think long and hard before deciding that bankruptcy is the answer.
In my opinion, it's a bad decision and a short-term fix to a more serious problem. In the end, you still end up paying your debts in the form of internal strife, external perceptions, and higher interest rates..
Eric Chavez is an author, and researcher in the field of credit counseling, and debt relief. He enjoys helping others overcome the stigma of bankruptcy, and turn their lives right side up again. Visit his website, Debt Relief Central for more information.Bad Credit Loans?A Rescue Act In Your Crises
A bad financial phase visits every person. But that does not mean he should be deprived of all those necessities of life. To deny essential finance to people just because they could not clear some previous debts in time would not do justice to them. Bad credit loans are like light at the end of the tunnel for these borrowers. On taking bad credit loans, borrowers always make a new beginning as they learn from past mistakes.
Basically bad credit loans are tailored for those borrowers who have a bad credit history.
Such borrowers were involved in at least on or two cases of default and late payments, arrears, bankruptcy or county court judgments.
There are effective ways to get a Bad Credit Loans. First of all make efforts to do something about that very credit report of yours. A credit report tells the lender about your borrowings and repayment details. Lenders decide the amount...
Debt consolidation > Bad Credit Loans?A Rescue Act In Your Crises
Harbor Credit Leads Effort to Educate Consumers on Auto Refinancing
San Diego, CA (ContentDesk) April 13, 2006 -- Harbor Credit (http://www.harborcredit.com), a premier resource on automotive and consumer lending, is leading an effort to educate the public on auto refinance, offering an opportunity for consumers to save money on their auto loan by lowering their monthly payments.Harbor Credit is actively calling on auto and finance Web sites and editors to join the effort. Working with top lenders such as WFS Financial and RoadLoans, Harbor Credit stands as a leading technology provider for the auto lead generation industry. They allow partner sites to brand their own application pages, as well as feed generated leads into an intelligent marketplace that sorts and routes the leads in real-time to qualified lenders.Widely considered one of the best kept secrets in the lending industry, auto refinancing can help a consumer in two ways: simply reducing an APR thereby saving on the total cost over...
Harbor Credit Leads Effort to Educate Consumers on Auto Refinancing
Debt consolidation > Harbor Credit Leads Effort to Educate Consumers on Auto Refinancing
Credit cards for students - are they a help or a hindrance?
Debt and credit cards have become an inevitable part of a modern UK student's life. With graduate debt running at an average of over ?13,000, it is easy to see the appeal of gaining the ability to spread the day to day living costs, putting them off until that high paid post college job appears.
Visit most University Freshers Fairs and it will be easy to find several different banks offering student financial services, alongside Virgin and Barclaycard student credit cards,all with low introductory rates, shopping discounts, free CDs, or other new gift idea.Despite having a low irregular income and no credit history, students represent an ideal
target for the banks. The reasons that students are desirable as new customers is that over their working lifetime graduates earn on average of ?400,000 more than non-graduates UK,
combined with the fact that once they have accounts in place, people are generally reluctant to switch to other providers, and so by attracting...
Debt consolidation > Credit cards for students - are they a help or a hindrance?
Florida Refinance Mortgage
You may be thinking of refinancing your current mortgage for one of several reasons.
If you currently have an adjustable-rate mortgage, you may be looking for a fixed-rate mortgage with more competitive terms, or interest rates on your adjustable-rate mortgage may be rising so it makes sense to shift to a fixed-rate mortgage.
If you bought your home some years ago, interest rates may have decreased significantly since then.
Refinancing may also be part of a debt consolidation strategy.
Some individuals use refinancing as a means to free up some of their financial resources for major expenses, such as a child's college tuition.
If you already have a first and second mortgage, you can combine these into a single mortgage by refinancing.
When does it make sense to refinance?
If you stand to save two or more percentage points on the interest rate by refinancing, it probably makes sense to go ahead.
Florida Refinance Mortgage
Debt consolidation > Florida Refinance Mortgage
Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill
Bradford Stroh, founder and co-CEO of Freedom Financial Network, LLC, is available to comment on the potential impact of Senate Bill 256, the Federal Bankruptcy Reform bill, now awaiting President Bush's signature."With the rejection of amendments that would exempt certain consumers, individuals in debt must learn about their remaining options to manage and eliminate debt," Stroh said. "Many observers are especially concerned about debt incurred through divorce, medical problems or other catastrophic events, but those consumers do have options." Stroh can discuss the bill's implications, including:1. What will happen to consumers considering bankruptcy if the bill passes, and particularly, what the "means test" will entail for debtors.2. Critical information on what has been called "the perfect storm" ? how bankruptcy reform legislation ties in with the ongoing credit counseling crisis. Internal Revenue Service rulings have begun a potentially widespread rejection of credit counseling...
Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill
Debt consolidation > Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill
Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill
Bradford Stroh, founder and co-CEO of Freedom Financial Network, LLC, is available to comment on the potential impact of Senate Bill 256, the Federal Bankruptcy Reform bill, now awaiting President Bush's signature."With the rejection of amendments that would exempt certain consumers, individuals in debt must learn about their remaining options to manage and eliminate debt," Stroh said. "Many observers are especially concerned about debt incurred through divorce, medical problems or other catastrophic events, but those consumers do have options." Stroh can discuss the bill's implications, including:1. What will happen to consumers considering bankruptcy if the bill passes, and particularly, what the "means test" will entail for debtors.2. Critical information on what has been called "the perfect storm" ? how bankruptcy reform legislation ties in with the ongoing credit counseling crisis. Internal Revenue Service rulings have begun a potentially widespread rejection of credit counseling...
Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill
Debt consolidation > Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill
Are You Ready For A Home Mortgage Loan?
Buying a Home and Committing to a Mortgage can be very scary!A home mortgage loan is the largest debt that most Americans will take on in their life time. As such, making the decision to take out a mortgage is not one that most first time home buyers take lightly. Not only will your monthly mortgage payments probably be the largest bill that you face each month, but the total amount of debt realized with a home mortgage loan can have a staggering, and sobering effect on the first time home buyer.I can remember the months leading up to my decision to fill out a mortgage application. I had nightmares about loosing my job, not being able to keep up with my payments and finding myself homeless. And those were on the good nights when I was able to sleep at all!Committing to a Home Mortgage Doesn't Have To Cost You Your SleepIn hindsight I realize that the fear that I faced when considering a home mortgage loan was irrational and the stress that I put myself under unwarranted.
However,...
Are You Ready For A Home Mortgage Loan?
Debt consolidation > Are You Ready For A Home Mortgage Loan?
Cedar Fair to Buy Paramount Parks
Copyright 2006 Geoff Gannon
Publicly traded limited partnership Cedar Fair (FUN) will acquire the Paramount Parks business of CBS Corp (CBS) for approximately $1.25 billion. The five parks involved in the deal are located near Cincinnati (OH), Richmond (VA), Charlotte (NC), Santa Clara (CA), and Toronto.
Cedar Fair already operates seven amusement parks and five water parks, including the company's flagship Cedar Point property on Lake Erie. The company intends to keep all five properties. The deal will be financed by a $2 billion loan from Bear Stearns (BSC). The interest rate charged will be determined once Cedar Fair's debt has been rated.
The acquisition is quite large relative to the size of Cedar Fair's existing business.
Cedar Fair generated $569 million in revenues during 2005. During the same time period, the Paramount Parks properties generated $423 million in revenues.
In addition to the five parks, Cedar Fair will...
Debt consolidation > Cedar Fair to Buy Paramount Parks