GRAND RAPIDS, Mich. (WOOD) – Personal financial guru Dave Ramsey, known around the nation for helping Americans get out of debt and live in financial peace, spoke Thursday night Van Andel Arena in Grand Rapids. 24 Hour News 8′s Suzanne Geha talked with him prior to the event. Thousands of people spent a few hours Thursday night with Dave Ramsey in Grand Rapids. The national radio host and personal financial expert gave a seminar at Van Andel Arena. 24 Hour News 8′s Suzanne Geha spoke with Ramsey before the event. His seven tips to financial peace are — Step 1: 00 to start an emergency fund Step 2: Pay off all debt using the debt snowball Step 3: 3 to 6 months of expenses in savings Step 4: Invest 15% of household income into Roth IRAs and pre-tax retirement Step 5: College funding for children Step 6: Pay off your home early Step 7: Build wealth and give (invest in mutual funds and real estate)
Filed under credit by on Oct 6th, 2010. 25 Comments. 
In the unfortunate position of filing dozens of cases of bankruptcy Cincinnati attorneys are finding they are swamped with huge workloads and hectic schedules. One such lawyer, Jamie Greene, found himself increasingly brought work home and it was taking time away from his family. His home life was suffering and his wife and three children were beginning to complain that he was never at home. Although he wanted to be a successful Cincinnati bankruptcy attorney, he was a dedicated family man and not a workaholic, so, ultimately, he decided to change career paths.
A lot of folks would not have the self-assurance to refocus their efforts to another occupation because they would lack the confidence to succeed or they would feel that they were wasting their education. This should not be the case though because life is really pretty short so why should time and effort be wasted when changing job direction can make all the difference in everyday enjoyment. When someone finds himself forced to make this kind of a decision it is a good idea to:
• Be certain that this is not just a temporary whim – All of us go through times in any job when it just seems so tiresome and demanding that it is tempting to quit. Major decisions like this need to be made deliberately and with great care in order to avoid regret later.
• Have an emergency fund that can see you and your family through at least six months – Unless there is a financial cushion to fall back on, it is extremely dangerous to leave a lucrative occupation in search of being fulfilled in another one. Monthly expenses continue regardless of how intermittent our income and it is best to prepare for the worst case scenario when changing jobs.
• Check to see that health care coverage overlaps so that all family members are covered during the transition – With medical costs so high and the fact that no one knows when they could face a health crisis, it would be very risky to lose health care coverage. One major illness or accident could wipe out family finances for a very long time so it is best not to put yourself or your family in that position.
• Do your homework if more education is needed – Anyone who discovers that more schooling is needed to be qualified for another job is often surprised at the amount of grants and scholarships available to him. Grants and scholarships are excellent due to the fact that they do not have to be paid back but are awarded because the person is uniquely qualified to receive them in some way. Another option is always of course, a student loan in order to pay for the extra instruction.
• Do not give up easily – When attempting something as life-changing as a major career change or redirection it is vital that a person not give up easily. A positive attitude can be a very powerful tool for the job seeker to possess because it allows a person to try and fail but continue to persevere in the quest to find his dream job.
Filed under Credit Repair by on Jul 30th, 2010. Comment.
The Fair Credit Reporting Act (FCRA) allows you to attach a 100-word essay to your credit report. This is the opportunity to explain the negative information and argue that you deserve new credit.
It is surely tempting to tell your side of the story by way of the “consumer statement.” It appears as your opportunity to explain why you have negative items on your credit report. There probably is a good reason why you were late on that payment. Perhaps you were sick or got laid off from your job.
Do not fall into the trap of adding a consumer statement to your credit. It is almost never a good thing.
This “concession” by the credit bureaus is not a concession at all. In fact, the 100-word statement will only make matters worse for you.
Let’s assume that you were to attach a statement like this: “I was only late on my credit cards because I was laid off from work. Once I found another job I caught up on all my bills and have never been late since.”
It may seem unreasonable to punish somebody for losing her job. Especially if she caught up on all her bills.
Credit bureaus really could care less that your inability to pay your bills was due to no fault of your own. They see things in black and white. You either paid your bills on time (according to the creditor) or you did not pay your bills on time.
Instead, the credit bureaus see somebody who isn’t smart enough to have an emergency fund to cover basic minimum payments should something go wrong financially.
The 100-word statement also has additional hidden dangers. For instance, adding such a statement confirms your guilt. It is direct proof that you were late on those payments. Moreover, you put yourself on perilous footing should you decide to hire a credit correction law firm in the future.
The credit bureaus will ignore any future disputes on your behalf because you have already admitted guilt. There is no reason for them to conduct an investigation. Finally, you have put yourself into a category of consumers that potential creditors avoid. Any potential creditor may avoid giving you credit out of fear that you will likewise default on payment should you run into a rough financial patch in the future.
Nowadays applications for new credit such as a credit card or car loan are based upon your score – not your statement. Therefore, the statement is only a weapon that the bureaus can use to ignore your credit report disputes.
Briefly, the 100-word statement is dangerous to your credit file. It serves no good purpose for the consumer whatsoever.
To learn more about online credit repair or for information on how to effectively proceed with an experian dispute or equifax dispute visit us.
Filed under Other by on Feb 23rd, 2010. Comment.
