The world of credit reports and credit scores is constantly changing. And even though it’s tough to stay on top of all the new credit-related rules and regulations, it’s important to do so. For 2011 and beyond, here are some of the most important things you need to know about protecting and improving your credit […]
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The 7-step “Millionaire Success Formula” is based on the universal wealth principles one must follow in order to eliminate financial obstacles, and achieve substantial, long-lasting riches. Make a personal prosperity plan. Develop a millionaire’s budget; written goals; and a financial policy statement Realize that financial success doesn’t happen by luck Invest first, last and always
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Too many people have millionaire dreams but no millionaire plans. Well, you can’t become a millionaire just by dreaming, wanting or wishing for wealth. You have to lay out a plan, and you have to execute in order to fulfill the goals within that plan. As you’re developing the framework for your millionaire’s budget, now
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When you let your student loan go into default, you may be subject to wage garnishments and you could be forfeiting your tax refund checks. The defaulted student loan will also have a negative impact on your credit report and it can be difficult to remove the record from your credit report entirely – even
Student Loan Rehabilitation Explained Read More »
UPDATE: As of March 13, 2020 – the date that President Donald Trump declared the coronavirus crisis a national disaster – your federal benefits such as stimulus checks or IRS refunds can not be garnished due to unpaid debts. This new rule is in effect based on relief granted by the $2 trillion CARES Act
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Thousands of Americans file for Chapter 7 and Chapter 13 bankruptcy each year, a move that allows them to discharge all debts and get a fresh start. But what happens if you file for bankruptcy and then change your mind? Maybe you’ve found a way to pay off your outstanding debt or are willing to
What If I Change My Mind After Filing Bankruptcy? Read More »
The Lee County Sheriff’s Office is warning residents to be aware of potential scammers targeting owners of timeshare properties. The scammers make unsolicited calls to current timeshare owners with promises of financial profit, and claim to be able to get owners out of their timeshare contracts by paying up-front fees, ranging from $200 to $8,000.
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If you’re facing foreclosure, you may be wondering how this will affect your credit score. Missing payments on your mortgage and other bills may have already dropped your credit score by several points, and when you reach foreclosure status, you will notice a significant drop in your credit rating. If you’ve been struggling financially for
How Will a Foreclosure Affect My Credit Score? Read More »
Some of you may be saying: “Can’t I just do one thing to become a millionaire?” Well, I wish it were that simple. But the reality is that you have to take a multi-pronged approach in order to gain lasting material comfort and wealth. Just taking one or two steps – or even four or
No Get Rich Quick Schemes to Becoming A Millionaire Read More »
In a recent interview I explain the difference between a rainy day fund and an emergency fund. I also share 6 tips to help jump start your rainy day fund. A rainy day fund is designed to cover one-time events without blowing your monthly budget. For example, $500 set aside just in case the sump
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The following is an excerpt from an interview with Black Enterprise. In personal finance expert Lynnette Khalfani-Cox’s latest book, Perfect Credit: 7 Steps to a Great Credit Rating, she outlines the steps consumers need to take in order to get their credit in tip-top shape. I recently sat down with The Money Coach and got the
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Q: In your book Zero Debt you say we should NOT get a refund check. I live for that check to help with tuition, home repairs, etc. I am a single parent of one, making about $100,000. What should I be changing my W-4 to so that I don’t have to owe the IRS? I
How Can I Increase My Take Home Pay By Adjusting My W-4 Withholding Read More »
Q: Is It Smart To Buy A Car With Cash? A: Yes, it’s very wise to buy a car with cash. That’s the preferred way to get a car, in my opinion. You should also be able to get a better deal from a car company if you pay in cash – as opposed to
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One of the quickest ways to eliminate your student loans is to pursue a career that will pay off your student loans for you. Loan forgiveness programs are typically extended to those who enter a career in military service, volunteer work, teaching, the legal and medical fields, and several other service-oriented professions. If you are
Where Can I Get a List of Companies that Offer Student Loan Forgiveness? Read More »
If you got behind on your auto loan or mortgage payments and the bank or lender repossessed your vehicle, the event will be reported to the major credit bureaus and negatively impact your credit score. Repossession shows up as a “default” status on your credit report and will lower your credit score. If your car
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