Apr

10

Consolidating Debt Scams?

Filed Under debt | 6 Comments

 Unfortunately, not all debt consolidation companies are legitimate. They target low income families, elderly, and our military personnel.  To avoid the shady companies, educate yourself on the debt consolidation process and watch out for these warning signs.
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Apr

10

Get out of Debt

Filed Under debt, military articles | 3 Comments

 Don’t let the easy access of obtaining credit cards drive you in debt. Don’t assume that you will get a job that will pay off all that debt after the military.  Often time, people take advantage of the easy access to credit cards and run up a large total with not having any plan or money to pay it off. The interest rates are usually high making it more difficult to pay off.

Often time’s people will switch from job to job until they finally enjoy what they are doing. If they had been contributing to a 401(k), many will borrow from it or cash it out when the leave the company.
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Apr

3

Bad Debt Personal Loan

Filed Under Life, debt | 8 Comments

 People with a lot of bad debts may find it harder to get a loan in an easier manner and may have to face many enquiries from the lender. However an especially crafted bad debt personal loan can ensure a hurdle free loan of your requirement and without delay. Your bad debts are not standing in the way of receiving a bad debt personal loan.

Bad debts are those debts that have accumulated too much and due to higher interest rate on them, you are not in a comfortable position to repay them easily. In such a situation you can have some more money in hand to clear debts and its installments if you take bad debt personal loan. One can say that bad debt personal loan enables you in paying off debts in time and escapes you from any financial disaster. And of course through bad debt personal loan, you can finish various other works also like home improvements, paying for medical or educational expenses etc.
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Apr

3

Money Mistakes that Solders Make

Filed Under Life, military articles | 1 Comment

      How many times do you hear about somebody in the military who spent their re-enlistment bonus on stupid stuff?  They do not save it, invest it, or use it to pay off debts.  They spend it at bar, strip clubs, or go to a casino and gamble it away.  We will call one of these military personnel Tim, and he got $12,000 up front for re-enlisting six more years on a submarine in the Navy.  Now he is in debt from that spending in the military.

      Tim had a jeep that was not good on gas.  He liked to take trips up and down the coast to different towns and beaches.  Off-roading was also a favorite pastime of his.  He continued to take the trips until one day his transfer case started leaking without his knowledge and it dried up.  The result was an under lubricated transfer case which developed a crack in the outside casing on the highway.  He was on a three-day leave and this was his last day.  He had to get it fixed and get to base.  He had it towed to a garage and it cost more than 2,000 bucks to get a new one and install it.  On top of that it would take four days for the part to come in and have it installed.  He found a used compact car on their lot for 5,200 bucks.  It was in good condition and the price actually was right.  It would save on gas too.  So Tim wrote a check and drove it home.

       After the jeep was fixed he decided that it needed a lift to accommodate the bigger tires he wanted.  The color was getting old for him too so he wanted a new paint job.  He found a place that would paint and lift his jeep.  They wanted 3000 bucks to do it all.  Tim was happy with the price, any price would of done that, and he left the jeep there to get worked on.  After the work was done and the bigger tires were bought, 800 bucks at a discount tire dealer, he decided to go mudding.  Tim got the newly painted jeep stuck in the mud up to the doors.  He got pulled out and a couple scratches in the paint too.

            This spending did not hurt Tim’s financial situation too bad at that time.  Years down the road he realized that if he put $8000 into an account with a 5 percent interest rate he would have close to $11,000 after six years.  By then he was married and had kids.  He realized that money he wasted away back then could have been better spent on paying off the family debt and for college.  He did not make as much money after the military.  He could barely afford the minimum payments on his credit cards.  Scratching to get by after his life in the military.