The Secret To Dealing With Aggressive Debt Collectors and Creditors!

The Secret To Dealing With Aggressive Debt Collectors and Creditors!
Terry has several serious problems. Not only is he dealing
with staggering credit card debt, he's unable to make his
payments on time because his job was downsized.

He's back to work now, but he's still playing 'catch-up' -
and he makes much less money than he did before. In the
meantime, he's enduring an endless stream of daily
collection calls from credit card companies demanding
immediate payment.

If this describes you and your situation, keep reading,
because in this issue I'm going to give you some tips about
how to deal with an aggressive collector.

When a credit card company - or any other creditor - calls
about a delinquent account, extracting money is their only
goal. They're trained to use every weapon in their arsenal
to get that money. They don't care what they have to do to
get it. They'll use psychological weapons, threats,
coercion - whatever it takes. The best thing you can do is
to know your rights and keep your cool.

The very best thing you can do when dealing with a creditor
on the phone is take control of the call. Because you're
the debtor you may feel like your options are limited. The
fact of the matter is you have a lot more power than you
realize. They're calling you because you have something
they want: Money. That gives you an amazing power over them
so use it to your advantage.

Use that psychological and financial weapon to your
advantage. Tell the collector - firmly - that you'll talk
to them as long as they remain polite and respectful, but
the minute they blow it and treat you like a stray dog,
you're out of the call. Don't be afraid to follow through.
Trust me; they'll call back another day.

If you don't have the money right now to pay them, tell
them that. Ask them what options are available. Don't be
surprised if the only option they give you is a check by
phone transaction. Whatever you do, don't authorize one. If
you give them electronic access to your checking account,
they could potentially clean your account out. And a judge
is unlikely to be sympathetic to your complaint that they
stole money from you...considering you owe them money.

Instead, tell them what you're willing and able to do - and
then do it. But do it by mail and pay them with a money
order. Don't send a check drawn on your personal checking
account because checks are routinely being converted to
electronic transactions. Do you see the danger?

I'm not trying to needlessly scare you, but I am trying to
educate you on some of the underhanded tactics that some
unscrupulous collectors will use in collecting.

If the collector shows his true colors and begins to make
threats or demands, stay calm. Here's an excellent tactic
that's worth its weight in gold. The louder and more
strident they get, the quieter you should get. Instead of
raising your voice - lower it. Continue talking while you
drop the level of your voice. Whisper if you have to.
They'll have no choice but to shut up, if only long enough
to listen. When they do, drop the hammer. Tell them very
sweetly that Canadian law only requires you to talk to them
if you want to and you no longer want to. This should stop
the problem at least on a temporary basis.

To recap this technique:

Take control of the call and don't relinquish it Offer to
make the payments by mail only DO NOT permit electronic
access to your account If they yell at you or raise their
voice - lower yours to a whisper if necessary Tell them to
discontinue calling you

----------------------------------------------------
Darrin Roseborsky is a Refinance Specialist with OMAC
Mortgages, seminar speaker and president of
HomeRefinanceCoach.com. Darrin shows people how to MAXIMIZE
their equity PROPERLY and how to choose options that make
the MOST SENSE for their situation! An example of exactly
how this works, is at: http://www.homerefinancecoach.com

The Truth About Mortgage Protection Insurance

The Truth About Mortgage Protection Insurance
If you are a new homeowner or you recently refinanced
chances are you have received many advertisements in your
mail box about Mortgage Protection Insurance. The letters
may vary in style and wording but they all say pretty much
the same thing. "You have not taken advantage of our low
cost mortgage protection program, please fill in the
information below and send it back as soon as possible."

The problem is these letters or offers often leave you with
a lot of unanswered questions. Who sent this letter and how
did they get my information? Are they affiliated with my
Bank? Do I really need Mortgage Protection? How much does
it cost, and is it really a good idea?

First of all where did this letter come from? Well that
depends. Sometimes a bank or lending institution may have
given your name out to a third party insurance company that
offers mortgage insurance and has some affiliation with the
bank. On the other hand, it might just be a local insurance
agent who is trying to generate business. The affiliated
insurance company obviously got your information from the
bank they are affiliated with but the insurance agent may
have just got your information from the county clerk. You
see, mortgages are a matter of public record and anyone
with some time on their hands and a little know how can go
down to the county court house and look up information
regarding your mortgage. To some this may be a little
disconcerting but it is perfectly legal.

So that is how those letters end up at your door but the
more important question is what is mortgage protection
insurance and do you really need it? Mortgage Protection
insurance is just what it sounds like. It is an insurance
policy designed to protect your family in the event that
you are not around to pay your mortgage for them. The plan
might be set up to pay off the loan if you die or if you
become disabled. But to answer the question do you need it
depends on a lot of other factors. Do you have dependents
that are counting on you to pay the mortgage every month?
If you became sick or injured and unable to work how long
could you pay the mortgage without your current income
coming in? Do you have other life insurance or disability
insurance in place? If so is it really going to be enough
now that you have taken on more obligations? When was the
last time you had a professional evaluate your insurance
needs? All of these questions should be taken into account
before you make a decision regarding Mortgage Protection
Insurance.

Well in addition to weighing all of the above questions you
may still be wondering if mortgage protection insurance is
a good deal or not. Again the answer is, it depends, and
there are many things about mortgage protection insurance
that you may not be aware of. Here are just a few examples.

If something looks too good to be true it usually is. For
example many of the plans that are sent out from bank
affiliates are very inexpensive so they may seem to be
quite attractive however you need to read the fine print or
find an advisor that can help you. The catch on these plans
usually is that they will only pay off if your death or
disability is the result of an accident. What happens if
you purchase one of these plans and you have a health
concern like, cancer, heart attack or stroke? They won't
pay dime one, that's what happens! So be careful that you
know what it is that you are buying. Especially if it is
being sold through the mail and looks too cheap to be true.
Accident plans only pay if you die in an accident, period.

Another problem with plans that are offered thorough the
bank is that many of them offer decreasing benefits. In
other words your insurance benefit will decrease as your
loan decreases. For example if you start out with a
$100,000 mortgage and you pay on it for 15 years and now
you only owe $72,000 your insurance contract's death
benefit will also drop to $72,000. At first this might not
seem like a problem and it's really not. But what if you
could instead have a level benefit for the same price? For
example what if you could have a $100,000 death benefit no
matter how much you owed on the house and it didn't cost
you anymore to do it that way? Wouldn't that be a better
deal? Well that deal dose exist so you may want to be
careful before you sign up for the first plan you see.

The other thing you really want to look out for with the
bank's plans are that almost all of them are
non-transferable. This means that if you change banks, or
you refinance, or even if you just sell your home you now
have to get a brand new mortgage insurance plan because the
bank's plan doesn't carry over. What if your health changes
and you don't qualify? What if your new bank doesn't offer
mortgage protection (not all banks do)? What if a few years
have gone by and now you are older and the costs have
increased due to your age? If any of these things happen
than you would have been better off buying a plan that was
transferable from one mortgage to the next. Theses
transferable plans are often not available through the bank
but must be purchased through an independent insurance
broker.

The last thing you need to be aware of is that many
mortgage protection plans are offered as a group benefit.
Just like the term life insurance that you get from your
employer. Group plans are offered to a group of people with
the same set of circumstances and because of this they are
easier to qualify for. This can work to your advantage or
your disadvantage depending on your circumstances. For
example if you are not so healthy and you already have a
health problem like diabetes you will most likely get a
very favorable rate if you purchase a plan as part of a
group because the health risks are spread out amount the
entire group and you are not left to bare the full cost of
your illness alone. However if you are in excellent health
and are not overweight and you don't take any prescription
medication than you may be better off not being lumped in
with a group of people that may be less healthy than you.
If you are willing to subject yourself to an easy medical
exam in the comfort of your own home or office than you may
just qualify for a much cheaper rate.

These are just some of the things you should take into
account when considering mortgage protection insurance. But
the most important thing to consider is will mortgage
protection insurance by itself really protect you and your
family? Even if you leave your home paid off for your loved
ones will they really be able to afford to live in it
without your income? Leaving your home free and clear for
the ones you love is certainly a noble idea and a
commendable one but have you really thought about what they
would do to survive financially in that house without you
to take care of them? If you really want to protect
yourself, your home, and your family than perhaps you
should consider talking to an advisor that can help custom
tailor a plan to meet your exact needs. Is mortgage
insurance a good idea for you? The only answer any
qualified advisor can give without looking at your
particular circumstances is, it depends. My advice is to
talk with a qualified Registered Financial Consultant today
to determine your family's needs and then once he/she maps
out all of the possibilities you can make an educated
buying decision.

----------------------------------------------------
Antonio Filippone is a respected speaker on a wide range of
subjects. He has been published in the official journal of
the IARFC as well as interviewed on the Radio about his out
side the box financial strategies.Readers who are
interested in gaining more information on how to live debt
free and truly wealthy can request a complimentary copy of
Mr. Filippone's booklet by visiting his website at
http://www.tonyfilippone.com

Credit Reports without Credit Scores are useless

Credit Reports without Credit Scores are useless
Credit Reports with no Credit Scores are useless. Have you
got your credit report lately from
www.annualcreditreport.com ? If you did, it did not come
with your Credit Scores. Have you ever wondered if you
really needed to know your scores? In this article I will
discuss how important it is to know your Credit Scores.

Here is a list of people that look at your Scores to
determine your likely hood to pay back a debt.

1. Electric Companies
2. New Employers
3. Mortgage Companies
4. Banks
5. Car loan companies
6. Credit Card Companies
7. Insurance Companies
8. Cell Phone Companies
9. Its not uncommon to have your new spouse check your
personal credit score

It is amazing how just about everyone that provides a
service to you these days wants to know your credit risk.
Your personal credit is not longer a secret; it's a part of
our everyday life. So if all these companies pull your
credit, what are they looking at? They look at your score
first; your credit score is how the 3 Credit Bureaus
measure your creditworthiness. The same goes for anyone
that wants to see your credit report. They look at your
credit score as well. Your credit history is important, but
when it comes to getting loans, your credit score is what
determines whether you will get the loan.

All Credit Scores have one thing in common: they read the
data from your credit report and predict your future credit
performance. The scores indicate the probability of you
paying back your bills in a timely manner. These credit
scoring models used by all 3 credit bureaus are
extraordinary at predicting what kind of risk you propose
to potential lenders. Since lenders know this, it is very
important you know as well. Since you now know how
important it is to know your credit score make sure you get
a credit report with your scores. It does not hurt your
credit to check your report every 60 to 90 days.

So the conclusion to all of this is yes you need to know
your scores. If most creditors determine whether they will
extend credit to you based on your 3 scores, I would
recommend you learn them quickly. You might have good
scores and not even know it. This is the type of customer
creditors love, they can make more money on you because of
you lack of knowledge.

----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.my720fico.com . My720fico.com is one of the most
unique on-line resources for free credit score reports,
Internet identity theft software, secure credit cards, and
a BlOG with a wealth of personal credit information. The
information within this website is written by professionals
that know about credit, and what determines ones credit
worthiness.

What is Forex Trader Psychology - AND - Have YOU got what it takes?

What is Forex Trader Psychology - AND - Have YOU got what it takes?
Are you a contender? Have you got what it takes to hack it
in the fast moving, sometimes ultra high glorious, other
times ocean trench depression low world of Forex Trading?
This may sound like a standard motivational talk, but
having the right frame of mind DOES influence your trading
results - So before you risk your well earned money read
this and ask yourself - Have I got the edge? - Or should I
stay with regular shares?

There are many aspects of Forex trading that are outside
the investor's control.

Forex market participants number in the millions - traders
for the world's largest banks, huge governments and
individuals just like you. Unlike stocks, even the big
traders have a tiny effect on exchange rates.

Even when setting interest rates and other actions that
influence inflation, the largest governments can have no
immediate impact on exchanges. The Forex markets are simply
too large - $2 trillion daily - for any one player to
dominate the action.

Trading strategies, which are essential, can increase the
odds of making profits and help minimize or avoid losses.
They give the knowledgeable trader that tiny edge that can
make the difference between winning and losing on a given
trade, or over time.

But before looking at market influences, and even before
developing a set of technical strategies that help guide
trading choices, the novice Forex investor has to honestly
and objectively examine his or her own attitudes.

Forex is fast-paced, complicated and requires a
well-thought out game plan. That game plan has to be
executed with nerve and skill. Trading successfully in a
demo account for several weeks is essential but can lead to
unwarranted confidence. Traders who invest Monopoly money
will often take chances, leading to successful trades, that
they wouldn't dream of taking with real money.

Real trading requires answering honestly a number of
questions that can be difficult to answer objectively when
the subject is the self-same trader asking them. What are
your financial trading goals? Looking for a quick buck?
Seek elsewhere. You will have losses that wipe them out.
Looking for secure, low-risk capital accumulation? Try AAA
bonds instead.

Forex trading can be simultaneously a stimulating
intellectual game and an exciting adventure. The thrill of
victory! The despair of (temporary) defeat! The mastery of
the intricacies of Fibonacci, Parabolic SAR, Stochastic
Oscillators and Doji Stars. All this, and much more, is
part of Forex investing.

As a result, you will need to be very frank with yourself
and decide how (and whether) you are prepared to deal with
pressure and fear. Even professional traders do not have
any certain system of ensuring profits and avoiding losses.

The pressure of deciding when to buy and when to sell is
many times larger than in stock trading. The fear of loss
is greater, in part because of the amplification provided
by 100:1 or larger leverage.

Even winning can be problematic. With practice and
persistence, provided you don't quit too soon or run out of
money too quickly, you will have periods when it all seems
laughingly easy. That can lead to euphoria, which is great.
But it can also lead to cockiness, which is fatal. Nothing
will wipe out a trader quicker than arrogance. Confidence
is essential, vanity is suicidal.

The other side of the coin to be avoided is too much second
guessing. Successful trading requires bold moves based on
sound judgment and confidence. Every decision is a small
leap of faith, since no one can know in advance for certain
what the outcome will be. Probability of one degree or
another is the best that can be achieved.

All this will be accompanied by the fear of loss of
capital, which often leads to panic selling in the face of
what would have been a temporary price movement. It is of
such panics that depressions are made, both economic and
psychological.

Forex is a roller coaster ride. But if you have a good
inner ear and a strong stomach, bolstered by the brain of a
statistician and the nerves of a pro billiards player, you
will be well suited to end the ride with full pockets.

----------------------------------------------------
From London, Nick now lives in Stockholm with wife Lena and
Gunnar a Border Terrier. He likes long forest and lakes
walks, is learning Swedish and loves making money from
investments that are as cunning as a fox and go up even
when the markets go down! He runs
http://www.forex-master-trader.info which promotes a system
called Forex Trend Trader and offers a free Forex for
Beginners email course.

5 Ways To Invest In A Declining Real Estate Market

5 Ways To Invest In A Declining Real Estate Market
This is the beginning of a lucrative market for investors.
The US real estate market has proven over the years to be a
sound investment, even in both booming markets and
surprisingly, in depreciating markets. It has been a steady
performer over the long haul, and now with a significant
dip in property values, it's quite notably the single
greatest decrease in values we've seen in decades. Good
profits from investments can be made in real estate. Both
individual investors purchasing in small scale and multi
billion dollar investment firms have the opportunity to
make great profits. The changing real estate market is
proving itself with dropping prices. Investors with
foresight should take the opportunity to cash in on
available deals. Here are a few ways investors are making
a profit in this present day market.

1) Use a realtor to help purchase properties at wholesale.
Realtors can be made a part of your wholesale purchasing
team. It's a numbers game when purchasing houses to rehab
and retail for profit. You will have to make hard money,
line of credit or cash offers until you lock in on a
wholesale purchase. For those with limited money, "hard
money" loans are used for leverage and buying power.

2) You can wholesale properties to investors. You can put
properties under contract and wholesale them to investors
or pre-qualified home buyers for a profit. This is done by
collecting a list of wholesale buyers. When you get a
property to wholesale, you can pick up a phone and call
your list of buyers as soon as they pick up a deal to
wholesale.

3) A "short sale" is a popular way for investors to
wholesale properties to their buyers. This is a process of
negotiating with the bank to purchase properties at
discount. Sellers often take this direction to prevent
going into foreclosure. Banks do this to avoid the costs of
paying attorney fees and the headache of foreclosure
procedures with the homeowner. Investors can do this one at
a time or in volume. There are many instructors who
specialize in short sales.

4) One of the most overlooked forms of making money and by
far less risky is to be a "finder" of deals. There are
different ways to be a finder; you can find an investor who
has access to funding and connect them with a motivated
seller. If a deal is done, you make a finder's fee for
putting the two together. The fee will range from $500 to
as high as $5,000. Keep in mind, the larger the deal, the
greater the fee! Always get your fee agreement in writing
prior to introducing the buyer to the seller.

5) Currently, the highest compensation is for capitalized
investors purchasing bank owned property (known as REO.)
These properties have already been through the foreclosure
process and re-owned by the lender/bank. Due to the changes
in the real estate market and influx in foreclosures, some
lenders need to sell off their large inventory of
properties in the shortest amount of time. As a result,
they can be purchased in bulk at steep discounts.

Large numbers of defaulted loans, record numbers of
foreclosures, increased bank inventory or re-owned bank
property all contribute to the significant changes in the
real estate market. Over the last year, the media has
focused on sub-prime lenders, mortgage companies and credit
unions having financial difficulty and many going out of
business. It's a good time for investors to look for
opportunities with prices taking a down turn.

----------------------------------------------------
Andy Ford is a real estate investor who purchases, rehabs
and retails homes. He also works in the commercial real
estate field for a combined total of 20+ years.
http://www.sterlingholdingsinc.com/