How You Can Survive a Credit-Card Default?

Have you missed a credit card payment and been charged $39? If the fee isn't bad enough, your credit card issuer could also put you in default status. Is it one missed payment or the end of the world?

In our current economy, default is a four-letter-word. Business news headlines tricked us into believing that the D-word could lead us to foreclosure, filing for bankruptcy and basically being in serious debt.

Take a deep breath; it's going to be OK. When the credit card company throws that term your way, it's bad, but it's not the end of the world. No one dressed in black and dark sunglasses is going to knock on your door and make you and your family leave.

Here are four tips on what to know and do when going into default on a credit card.

1. Understand what default really means. In credit card lingo, default simply means you failed to make a required minimum payment before your bill was due. Missing a payment is bad, but what's worse is a charge-off. A charge-off is the personal credit-card equivalent of bankruptcy. It's when you have not made a minimum payment in six months so your bank has deemed your account uncollectible and most importantly, details of your nonpayment may remain on your credit report indefinitely. Think of default as the "oops" and charge-off as the "oh no, now I'm in real trouble."

2. When to expect a default. Credit card companies can put your account into default status within just days of an overdue bill.

3. How much default costs you. You will typically pay the late fee, as much as $39. In addition, your interest rate will sky rocket to the "default" interest rate for up to 12 months, and that rate could be as high as 32%. Many banks have extended their default period from 6 to 12 months in anticipation of next year's credit-card rule changes.

Know how to get out. Now that you're more informed, what do you need to do to get out of default? The most obvious is you pay your bills on time. But so you were backpacking around Europe for a month and simply forgot. What can you do? If you've been a loyal and reliable customer, your credit card company may forgive this mistake. Pick up the phone and call your credit card issuer as soon as you realize you missed your payment. Explain the situation to the customer service representative, then ask him or her to give you a credit for the late fee, and adjust your interest rate. Most of the time, they will oblige because keeping you as a customer is a win-win for both of you.

Credit Card Application linked to http://www.creditcardapplication.us

"Time Value of Money".....Very informative video on finance

Hi, Today i was searching some latest financial information from google. Suddenly i came to know about "you tube" & i found that there are lots of videos related to finance. I must say all the videos are very informative. You can get a huge idea from our latest finance market.

Not only finance market we will get some few easy finance formulas. And in "you tube" all these things we can see through graph, diagram, pictures etc. which will make it more easy.

Just look into this below video which is also like my above information. Thanks to "you tube" for this.

If you want to see more videos in this topic then visit www.youtube.com

Share your feedback after seeing this video through comment below.

Reclaiming Your Life Through Debt Negotiation. It Saves You Time, Money and Your Credit

Discover the advantages of Debt Negotiation, the better way to saving you time, money and your credit. What you learn may very well surprise you.

Are you losing sleep at night? Do you dread answering your phone or answering your door for fear that it could be your creditors or a collection agency? Debt Negotiation can help.

Do you want to reclaim your life back? Finally get a good nights sleep? Save your credit rating? Save money? Get out of debt once and for all? If you said yes to all these questions, Debt Negotiation can help you to achieve all of these things.

When you fall behind on your bills your creditor will often take action against you and this can be followed by a court judgment such as wage garnishments, tax liens or bank account levies. All of these inconveniences can be relieved through a Debt Negotiation Plan.

Debt Negotiation is the process of settling your debt with your creditors. A professional debt negotiator will act on your behalf negotiating directly with your creditors so that you can avoid bankruptcy and the creditor doesn't have to go to court to retrieve the money. Through debt negotiation you can save yourself from the disadvantage of bankruptcy while at the same time allowing yourself to get the benefits of bankruptcy.

The do it yourself approach can not be done effectively as it can cause you a lot of wasted time. And it can often result in more added financial hardship. But through a Debt Negotiation Service, they will help you to negotiate with your creditors by writing Debt Negotiation Letters or make telephone calls on your behalf to your creditors or debt collectors negotiating settling for a better term, a smaller payment or even to reduce your debt by a substantial percentage for a lump sum payment.

Bankruptcy laws now make it more difficult to file. And what you need to also consider when you file bankruptcy is that your credit rating is ruined and for business owners this can be the kiss of death. With Debt Negotiation you can save your credit rating and for business owners literally save all that they have worked for.


Benefits of Debt Negotiation

• Debt Negotiation takes less time than consumer credit counseling. Consumer Credit Counseling Services can take 60 to 82 months to complete and only reduce interest. Debt Negotiation can take 24 to 36 months to complete and they settle your debt principal and interest.


• Debt Negotiation can save you money. Most creditors and debt collectors who haven't been paid for awhile are usually ready to negotiate and typically will settle unsecured debt for 50% or more of the balance.


• Debt Negotiation can help to improve your credit scores. Because you are starting to pay off your unsecured debts, your debt to income ratio goes down.


• Many creditors are willing to replace negative information on your credit report with positive information if it can be worked out through Debt Negotiation.


• Debt Negotiation can stop creditor or debt collectors from harassing you.


• Most importantly, Debt Negotiation prevents you from filing for bankruptcy which can result in long term credit damage and maximum financial ruin.


If you work with a Debt Negotiation expert then you will reap the benefits of saving time, saving money and saving your credit rating.


It is important to take action as quickly as possible to move toward financial stability.


© Copyright 2007 Judith Howard

Click here for your free no obligation debt negotiation consultation

Proper knowledge will make you good Forex Trader…..Few ways to get it.

Actually as a financial writer I have covered many financial topics but I don’t have any knowledge regarding "Forex Trading" but as my blog is "finance ideas 4u" so I thought I will write one article related to forex trading beside this I do have some interest on this topic also. I have researched so much after this I am writing. If anything wrong you will see here please feel free to tell me.

What I believe that before going for any field we need to take some good training regarding that so forex trading is also not an exceptional one. To become a good Forex trader there are many ways. Huge number of other people are also doing this & most of them are successful too. Foreign exchange trading is a sound venture to become involved in. But the same thing is applicable here also that is "knowledge is the only key of success".

First of all you need to know the rules & trends of this Forex market. In this case seminer or training will help you. Here some field expert will give you all the required information. But I think you need to pay some amount for it.

Secondly a very good option is net learning. There are more than 100 sites available from there you will get the proper information related to Forex Trading.

Some good books are also available in the market those are written by the experts. From there you may also get the proper guidelines.

Some video sites are also available like "You Tube" from there you may get the full info. regarding this. Not only information you may know experts opinions also. Here is one sample video for your help.

Apart from this another good source of information is some personal bogs. Follow some good forex related bogs. It will help you to gather the from the Forex clients & experts will share their views also.

Finally, make yourself update with the present economic situation.

I hope you will share your opinion on this matter along with your comments about my article also.