Anecdotario de Alfredo Álamo
How many times a day doyou see a credit card logo on a cash register?Why do they still call them cash registers when they really want youto charge anyway? How much is spent in advertising to get you to spendwhat you don't have just because you have room left on your creditcard? Maybe you thought that sale was just too good to pass up. Maybeyou thought that you could handle the payments and maybe you coulduntil...late fees, over-the-limit fees, the increase of your interestrate, you got sick for a week or maybe there was even a realemergency.Getting into debt is easy, just buy a few things that you can't affordto pay cash for and don't think about how many payments you're goingto have to make before it's paid off completely. Getting into debt isfun; just go out to dinner and a show or away for a few days to makeyourself feel better about the fact that you don't have the money togo out to dinner and a show or to get away for a few days. Gettinginto to debt can impress people. Don't drive around in something thatyou can afford to pay for, figure out how much you can squeeze out ofyour monthly budget, and if you don't have a budget even better justguess, then tell a car salesperson that you'd like to make 48 paymentsand see what you'll be driving around town in. The best part is you'llguarantee you'll be driving it to work for the next 1,460 days just tomake the payments. Now that's impressive!Take the "How Did I get Into Debt Quiz". Pull out one of your creditcards and determine how much you owe on it. Now, quickly, what did youbuy for all that money? I'll bet you don't know because you boughtstuff. Stuff you may not even have anymore let alone still use or beable to identify. Now ask why do you use it at all? Be honest. Howdoes "I want stuff I can't afford to pay cash for" sound? TheUnexpected EventMany people get into debt because of unexpected events, events beyondtheir control. The most common of these are medical bills and jobloss. And the most common causes are lack of affordable medicalinsurance and globalization. Not only are these problems beyond yourcontrol they also appear to be beyond the control of our politicalsystem so don't expect the problems to be fixed any time soon.Globalization, the process of businesses taking their money to far offcountries to earn better returns, is not new. In the 1790s BenjaminFranklin Backe published a newspaper called the Aurora. In it he wrotethat he believed that the merchants of the day were "men who know nocountry but that where they can make money," who "carry their capitalsships and our sailors to the country which will encourage them."The sad part, debt-wise, of having an unexpected event is that eventhough you didn't cause the problem it is up to you to fix it. Sowhether you're in debt because of an event or the "easy monthlypayments" trap relax because I've got some good news. Getting out ofdebt is going to be even more fun than getting into debt was. I doneboth and becoming debt-free feels great. So if you're ready let's getstarted...but first let's discuss, Good Debt/Bad Debt and businessdebt. Good Debt/Bad Debt Much like cholesterol, where there is good and bad cholesterol, debtcomes in two versions. It can be okay to take on debt in a reasonedway for a good purpose. In fact many people become wealthy byborrowing money to invest in business opportunities. They call itusing other peoples' money. But my focus here is on how individualsspend their money on themselves. It's how you spend your money.There can be some very good reasons to take on debt. Financingeducation, for example, can be an admirable thing. If you go to schoolto increase your income potential, taking out a student loan would bea good thing. If you take out a $2,000 loan and you learn a skill thatlet's you earn an extra $5,000 a year, you'd be crazy not to take theloan. If you take out a student loan because you don't know what youwant to do with your life and you don't want to get a job, well,that's not a good idea.For most people taking out a mortgage is the only way they'll be ableto purchase a home. This could be considered good debt. Because of theway mortgage payments are structured with the first few years beingheavily weighted towards paying interest and mere pittance goingtowards principle, it's a good idea to pay off even this good debt assoon as possible. Many wise financial minds teach that beforeinvesting in something that will give you thirty years of monthlypayments it's better to invest in income producing assets first,something like rental property.Well, what about if there's an emergency? Maybe the plumbing broke, oryou have a medical emergency. Well let's not be stupid about this, ifits real emergency and the only way to pay for it is by taking ondebt, then take it on. If you break your leg it's a good idea to takeon the debt of a doctor's bill rather then waiting until you have themoney to get the bone set. Personal vs. Business DebtThere can be some big differences between personal and business debt.But it mostly depends upon how the business structure is setup. If thebusiness is setup as a sole-proprietorship then there really is nodifference between the business owner and the business, it is allconsidered one entity.If on the other hand the business is set up as a corporation thenthere is a vast difference between the business and the businessowner, in this case the share-holders. This is true even if only oneperson owns all the shares. Legally the corporation is considered aseparate entity and if the business has debt problems it doesn'ttranslate to shareholder debt problems. That's why entrepreneurs likehaving their businesses in a separate legal entity.It's also why if you are considering going into business as a way tomake more money to get out of debt it's a good idea to have the properbusiness structure. Is There Another Way? Even with good debt you want to think twice before taking it on.Taking a student loan to improve your employment situation is a greatidea, good debt. But wait, before you take on debt ask "Is there abetter way?" There are many sources of grants, and yes a grant ismoney that you don't have to pay back. So before you take the easy wayand "Just sign here," do some checking to make sure there's not abetter way. You need to be fully informed as to the terms andconditions of any loan before you take it. You should always shoparound to see if there is a better deal, better terms or a way toavoid taking the loan out at all.One way to avoid having to take on even good debt is to plan inadvance and save money on a regular basis. If you've been driving fora while you have probably had a flat tire. Because everyone gets aflat tire once in a while it couldn't really be considered anunexpected expense. Do you have money set aside for your next flattire? Well, you should. If fact you should have money set aside thatwould cover a variety of "unexpected" expenses. If you do you can dealwith life's little surprises without upsetting your monthly budget.You will have to pay yourself back but you won't be charging yourselfinterest or calling yourself at dinner demanding payment.So, yes, there is good debt under certain conditions, just be surethat you've investigated other ways of taking care of it before yousign your way into debt. And if you do take it on don't allow yourselfto feel burdened by it. You did what you had to and you'll pay it offhttp://www.Debt1Consolidation.com
CaliforniaLoanRate.comWe will work with you to develop a plan that best serve your particular needs. We will then negotiate with your lender to incorporate any changes that are needed to make the plan acceptable both to you and to your lender. Keeping you in your home is advantageous to the lender. Our job is to help them appreciate that advantage. SHORT SALES MAY SELL YOU SHORTYou may have been told that a short sale is your only course of action. What you may not have been told is that you may be dealing with the consequences of that action for many years.DEADLINE SENSITIVITYWe understand that you may be facing immediate deadlines and that any delay can mean a loss of meaningful options for relief.BEYOND BANKRUPTCYThough we are happy to assist you with bankruptcy, should that be necessary, we believe it is an option that is avoidable more often than people realize.TYPICAL RESTUCTURING PLANSRestructuring plans may include:Adding delinquent payments and any foreclosure fees to the back end of the loan. This may include a permanent reduction in your interest rate.Forbearance plans may be used to temporarily halt the foreclosure process for up to four years while you make payments to become current with the lender.GOALS OF NEGOTIATION WITH YOUR LENDERIn our negotiations with your lender we are seeking to lower your payments, lower the interest rate, mitigate any negative impact on your credit rating, and keep your home from going into foreclosure. The lender benefits by continuing to receive payments on the mortgage, and saving on the costs that would be incurred in a foreclosure.WHAT WE NEED FROM YOUWe will need to document your income and expenses for the last two years. Documentation will include pay stubbs, tax returns, bank statements and property tax bills, and all of the paperwork associated with your mortgage. We will need copies of your bills to document your financial situation and the factors that led to your falling behind. Please provide any other letters or notices that demonstrate that you faced a reduction in your income or higher than expected expenses.TELLING YOUR STORYWe will ask you to prepare a draft letter that explains in your own words what factors have led to your need for a modification from the lender. It is important that you author this letter, and that it is not generic. Please include the details that bring to life the financial difficulties that you have faced. If you feel that you were not properly and fully informed regarding the terms of your loan, please describe the process by which you came to sign the loan papers and what your understanding of the terms of your loan was at that time. CaliforniaLoanRate.com..
Publicar un comentario