Prosperity

Indebted to Credit Cards

mcherkezian — Thu, 02 Jul 2009 09:04:45 -0500

This is an excerpt from the Guideposts book Simple Shopping. Click here for more on this and other books from the Spirit of Simple Living series.

Game Plan for Life

mcherkezian — Tue, 17 Nov 2009 12:20:05 -0600

You look at my stats—Super Bowl-winning football coach, owner of a championship NASCAR racing team—and you might think, What does this guy know about money problems? He’s probably rolling in it.

Well, I have to tell you, I learned about finances the hard way. I was such a bonehead when it came to money I ignored one warning flag after another. It took an all-out disaster to bring me to a point where I’d trust God and follow his game plan.

Debt Management Resources

admin — Thu, 01 Sep 2005 11:57:00 -0500

Print out a free 20-page booklet on "Understanding Your Credit Score."

The Federal Trade Commission has a series of free publications on credit and financial issues, including "Fiscal Fitness: Choosing a Credit Counselor" and "Knee Deep in Debt." They are available at ftc.gov/credit, or by calling toll-free: 877-FTC-HELP.

Unburdened

jbloustein — Tue, 16 Dec 2008 16:50:49 -0600

You know that expression, “When trouble comes knocking”? Well, it came knocking, all right, one night in 2006, not at my door but under the hood of my Ford Crown Vic.

I was driving home from work and, at first, I didn’t want to hear the strange knock, knock coming from my car—the way I didn’t want to hear a lot of things then. I turned up the radio to drown it out. But the noise just got louder.

Too loud to ignore. Man, engine repairs could mean a couple thousand dollars. Way more than we had.

Over Our Heads in Debt

admin — Fri, 21 Nov 2008 16:35:41 -0600

It was the end of the month, and I sat down at my desk to put some order to the pile of bills that had accumulated.

I wrote out one check after another, meeting the monthly minimum on a credit card, covering the large payment for our new van, stretching to meet the mortgage.

With calculator in hand I subtracted several figures from our bank balance, trying to convince myself that our family was still in the black. But when I opened the desk drawer to rummage for stamps, I was confronted by a stack of unopened letters. Here was evidence of a debt I had avoided for too long.

How I Paid Off $35,000 in Debt, and How You Can Too

admin — Tue, 24 Jun 2008 07:56:00 -0500

Last December, after 20 years of owing money, I finally paid off all of my debt (except the mortgage—and I'm working on that).

How to Lend Without Loss

admin — Mon, 15 Dec 2008 10:14:10 -0600

I was puzzled when a friend I'd been close to started coming by our house less often. I had the feeling he was ignoring me. Finally I realized he felt guilty about not repaying a debt on time, even though I assured him I was in no hurry.

In the end our friendship was restored, but the experience reminded me of the saying "A distant relative is a relative who owes you money."

If you've ever lent money to family or friends, you probably know how it can complicate, even sever, a relationship. And yet we're urged by our faith to be generous with those in need.

Dear Client: Your Bill Is Hereby Forgiven

admin — Tue, 09 Dec 2008 13:10:46 -0600

Why do people think lawyers should work for free? That's what I was asking myself on a cold January morning in 1987 as I began loading the rough oak logs onto the pickup. Why is it that I have to come out here and cut firewood to make ends meet—just because some people won't pay their bills?

Caveat Emptor

admin — Thu, 01 Sep 2005 12:02:00 -0500

To give you a hand out of the quicksand, credit counseling organizations often offer debt consolidation, or debt management plans (DMPs); you make monthly deposits with the organization, and it uses the money to pay your unsecured debt (like credit card bills, medical bills and student loans), according to payment schedules it works out with you and the creditors.

Beware, though. Finding a trustworthy credit counseling organization can be tricky. One recent report called unscrupulous counselors a "severe threat to consumers." Some tips to avoid the threat:

Free Yourself From Debt

admin — Thu, 01 Sep 2005 11:33:00 -0500

Whoever said debt is like quicksand was right on the money. You might not notice when you first step in it, but before you know it, you're in neck-deep. You're living under a cloud of worry—no, terror—lying awake at night mentally juggling which bills to make the minimum payment on and which ones to put off until next month, even though that means incurring more late fees. I'm embarrassed to say that it's a situation I know all too well. You might too, if yours is among the 43 percent of American families that spend more than they earn each year.