Recently, I came across a magazine from the year 1992. Flipping my way through trans-fat laden recipes, silly fashions, and super big hairstyles, I had a jolly laugh. That is until I found an article about reducing personal credit card debt. I assumed debt relief methods would have changed considering the two very different economic pictures between now and then. Such a contrast in the financial market would result in different approaches to debt relief, right?

Surprisingly, basic credit card reduction principles haven’t changed very much since 1992. You might think that during times of loose credit that debt reduction would be different than in times of tight credit. However, it appears my assumptions were mistaken.

The tenets of credit card debt relief remain the same for all these years because basic financial strategies never change. Don’t spend more than your take-home pay and save your surplus money. When credit cards became the norm for every day spending, all that changed. And, after some years, we are all suffering.

I suspect that in 1992 an article about debt relief didn’t get as much attention as the clothing and hairstyle articles. But, today, more and more people are seeking sound advice on methods to manage their own freedom from credit card debt.

If you are serious about getting that credit card debt under control, there are a few standard steps to follow. The steps outlined here are very similar to the steps outlined in the article from 1992, and will help you get back on the road to financial recovery:

1) Destroy Your Credit Cards – This may hurt a little if you’re used to having a never-ending supply of credit, but it’s critical. Get rid of those department store cards first, than when you get to your Visa, Master Card, or American Express, stop. Check out the terms of your major credit cards and determine which one you should keep for emergencies. You’ll want to be able to make reservations, use the kiosk at the airport, etc., so you’ll need one major credit card. Cut the rest of the cards up now.

2) Do Your Financial Math – Take a good, long look at your income. If you haven’t already created a family budget, this is the time to start one. Map out your monthly household expenses that keep your family sheltered and fed. Take that money, subtract it from your monthly paycheck and you are left with your “disposable income.” That is what you need to know before you take your next step. How much money do you have each month to apply to your credit card debt?

3) Time to Make the Dreaded Call – Calling the credit card company is the most feared but most critical step to reduce your credit card debt. Making minimum payments on your credit card each month won’t bring that balance down. The interest alone will continue to grow beyond your current balance owed. Pull out all your credit card statements, take a deep breath, and call customer service. Tell them that you are paying off the balance, but that you can only do so if they reduce the interest rate and reverse any late fees or overage charges. Most credit card companies will work out a payment plan for you. Be prepared to negotiate, be firm, and be persistent. The credit card company wants your money, so they will be willing to get it on your terms if that’s the only way possible.

4) Time For Sacrifice – We all love it when we get our income tax refund, or a bonus at work, or what we call “found money.” I hate to be a wet blanket here but, every extra penny you have must be used to pay down your debt if you expect your plan to work. Anytime you “find” money, think about how many times that money is “lost” again when you pay interest on an unpaid credit card balance. You’ll get a faster return on that found money when you use it to pay down a debt.

5) Don’t Give Up and Don’t Give In – You won’t be living in a new debt-free world overnight. That’s the reality. You might not be able to breathe easier for a year or more, but you will be making progress toward freedom from credit card debt. There are no instant fixes, contrary to what those commercials tell you. Your credit card debt didn’t happen overnight, so it won’t disappear quickly either. You should see some progress in roughly six months or so. This encouraging news may entice you to splurge on yourself to celebrate, but don’t. Just look at the interest you’ve been paying all these years on those fancy treats for yourself. Haven’t the credit card companies gotten enough of your money? Hang in there; rewards are coming.

6) Approach Debt Consultants Carefully – A never ending barrage of commercials promising fast debt relief has been added in recent years to the business of credit. There are legitimate companies that do handle debt consolidation and financial planning, but you have to check them out carefully. If a debt consultant offers you a quick and easy fix to your credit woes, they are not to be trusted. There are no easy ways out from under a pile of credit card debt. If you consider using a debt consultant, interview them in person and ask pointed questions about how much of your money goes directly to the credit card debt. If you are certain you want to pursue a debt consultant, do so only after checking them out with the Better Business Bureau. Also, ask for recommendations from trusted friends. Get all the information up front before you decide.

When it comes to debt, times really haven’t changed. Your parents and grandparents were right about how to handle money; don’t spend too much and put some away every month. Credit has been too soft and too available for much too long. Now, many of us find ourselves in a very difficult position. We can’t enjoy our lives if we are drowning in debt and unable to break free. These simple steps have worked for people through the years and can work for you, but only if you follow through all the way to the end…the end of your credit card debt. Then you can breathe deep and relax; finally free to enjoy your own money.

Nicole Dean is the mostly-sane mom and owner of ShowMomtheMoney.com – a resource dedicated to helping moms achieve success working from home. She welcomes you to learn more ways to save money in her Frugal Moms section. Be sure to sign up for her free tutorial for work at home moms.

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Question by moni: Is it Illegal and Considered “Identity Theft” Someone Temporarily Borrows Another’s Identity?
Is it considered illegal identity theft if someone, just temporarily borrows another person’s identity with no intention to defraud anyone, or ruin anyone’s credit.

For example, if a person with no SSN uses a relatives name and SSN to buy a Prepaid Direct Deposit Cash Card to verify Paypal & so that family/relatives/friends, can easily send them money as needed?

Suppose that this person is in this country on an extended vacation & wants to sell on eBay some of the stuff they bought. Since they don’t have an SSN or US bank account to verify Paypal, can they set up an eBay/Paypal account in their relatives name, and use their SSN to buy a “No ID required(except for SSN) prepaid Direct Deposit ATM cash card” to verify their account, and get money.

If there is no intent to defraud, or actions to that effect (like applying for credit cards & running up huge bills then defaulting on payments) then is it considered identity theft & is it a crime?

Best answer:

Answer by c1523456
Yes. It is illegal to use anyones identity other than your own.

What do you think? Answer below!

The Worker Identity Theft Crisis (And How You Will Save The Day): The underlying cause of the identity theft crime… http://bit.ly/9lSFiY – by Frank_MacDonald (Frank MacDonald)

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Question by Haleiwa Bound: What is the difference between “identity theft” and “using false documents”?
When a US citizen is caught with someone else’s ID, it is identity theft, punishable by law.

When an illegal alien steals someones ID they are only using “false papers” or “false documents”

Why the double standards?

What do you think? Answer below!

RT @endIDtheft: Bottom Lines: New law works to protect debit cards from identity theft http://bit.ly/9hMdAZ – by dealereducation (gina auto mom)

The total many of us owe on credit cards is a angry theme right now. There are millions of people with large credit card debt allowed to develop at a time when the economic climate was both benign and obliging.

The principle grounds of problems repaying what you owe is a poor understanding of the total issue. A lot of people regarded it as free funds that you return a bit at a time. The rigour of putting money aside for costly items and budgeting was ignored.

The credit limit was used as a target to achieve and not avoid. Many credit card buyers appeared to have a sense of satisfaction when announcing they’ve already maxed out their newest card. As long as they were working and paying the lowest month to month repayments a further card was simply a form away.

Now they have got to be repaid and the chickens have come home to roost. The monthly cost of what you owe is between 1% & 2% when interest rates are at half a percent per year. Credit card debt is very, very costly. You manage to pay out hundreds of dollars monthly to the credit card corporations but the amount you owe drops by only 30 – 40 dollars. The rest vanishes into interest payments.

It is advisable to lower the sum you owe as rapidly as possible and at the smallest interest rate it is possible to. One of the commoner strategies is to submit an application for a zero interest credit card offer. These more often than not allow you as long as 12 months paying no interest. This may only relate to purchases but may apply to balance transfers too.

Interest free credit cards offer you the possibility to transfer some of your credit card debt from a costly card to a cut-rate one. Usually the deal lasts for up to a year. There is typically a minor price, which is vastly outweighed by the saving in interest you make.

The three major things to bear in mind are you should not use your 0% card for any spending at all, constantly make your repayments regularly and at the end of the deal locate another 0percent deal.

A common condition of a good number of new 0% card transfers is purchases are charged at the standard rate of interest. Only the amount transferred is free of charge. As well as that your month to month payments usually lower the interest free total only, not any purchases you have made. As a result it could in next to no time turn out to be costly.

Making your monthly payments on time each month ensures your credit record stays good. Overdue or missed payments are added to the database and will potentially give rise to an unhelpful result and lower your credit history. This may make it more difficult to find a similar deal in the future.

When at the end of the offer there is some money outstanding perhaps search for a different 0% offer? You will continue to save cash and enjoy the emotion of beating the banks. Just do not forget the aim is to lessen the debt down to zero as rapidly as you can.

Visit here to seek out more in relation to 0 Balance Transfer Cards and 0% credit cards

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Tired of harassing phone calls from creditors? Is your current debt overwhelming you? Breathe easy, you are not alone. There are many people out there, just like you, who struggled with credit card and other debts. The good news is that there are many options to help reduce the debt, and the creditors.

Credit counselors are a great place to start. Do some research and find a legitimate company with low fees for service. Most companies will charge a small fee, but it should never be more than a monthly payment on a credit card. Never give out your personal information without first doing some research, your goal is to get out of debt not make things worse. A reputable company will help you work out a monthly budget, will work with your credit card companies to lower your interest rate, and will help come up with an affordable payment plan.

There are credit counselors available to help you get back on track. The most convenient way work with your credit counselor is right from your home computer. You don’t have to make appoints to leave the house, or drive out of your way; you simply need a computer and internet access. Most debt management companies will offer easy, online support and are available at your convenience.

Debt negotiation is a great option for anyone needing to get rid of past due debts. There are some firms out there that will bargain and negotiate with your creditors for lower interest rates and payoff amounts. You may be able to do this on your own as well, be contacting each creditor separately and offering a payoff amount. This can be difficult to do on your own, because most companies will want immediate payment.

There is no reason to have to file bankruptcy when there is quite a bit of help to help get you out of debt and most importantly, stay out of debt.

You can find more info on credit card debt forgiveness act and credit card debt forgiveness acthere.

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Think you’ve got it bad with the fees your credit card charges you? Well try this: $247 up-front, for a $300 credit line… And that’s not the worst of it!

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As identity theft and other crimes related to the online world continue to be committed, you should be keeping your identity and personal information as well guarded as possible. Especially with the social networking site Facebook in particular. Keep as much of your personal information hidden from view as possible.

You can set your own privacy levels, so it is a good idea to limit who can look at your profile. Set it so that your friends and family can have access, but make it invisible to everyone else. That way, you can review who wants to look at you, and then you can decide.

People on Facebook include their birthday on their profiles more often than not, and most of them don’t understand that a criminal can begin to put together a piece of the puzzle of who you are.

Your date of birth narrows down a lot of variables, and if you put your month and day and year down on your profile, then they can refine the process even more. Also, think about what password you use for your PIN because if it has your birthday in it, they can pretty easily figure out how to hack your account.

Next on the list of things to be aware of is listing your job in your visible profile. Can you imagine some stranger showing up at your work? Nobody needs to know that stuff about you until you get to know them, so be careful, and don’t post that.

Getting a cyber stalker is one of the most creepy things in the world, and you never want that to become a real world experience. Don’t reveal enough about yourself to give a maniac any kind of inroad to your life.

Another big way people can identify you is by what school you went to and what year you graduated. You don’t need to have that hanging out there either, and unless someone is really bored, nobody legit would even care.

Don’t be in a network on Facebook either. This is a big way that people can find out all sorts of things about you. The main thing in protecting yourself is to stay as anonymous as possible to strangers, and don’t give someone the chance to make your life miserable.

Get more tips created by this author about areas like stability ball chair and LCD TV brackets.

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