Doc, Recently I inquired about a program that produces a road map for improving your credit, reducing your debt...etc. Well, to make a long story short, I signed up for the program. It is MLM, but it's backed by the former CEO of Wal-Mart and a guy who laid the foundation for Excel. To make a long story short, I thought it was going to be smoke and mirrors. I was shocked. The program actually showed me how to reduce my debt and become debt free in 11 years - without consolidating, reducing interest rates or any of that stuff. Plus, it gave me a copy of my credit report. What got me excited was the payment plan. It gave me an actual account-by-account payment plan to become debt free. It's not what you think. It gives actual dates specifying how much to pay on each of your loans, credit cards and all that stuff until your debts equal zero. In my case, an 11 year printout (11 pages) that I can alter or change at any time. The program allows you to concentrate on 3 areas, debt, savings and credit. Each area has an enormous load of info that you just click on to get it going. These guys are geniuses. It cost me $30 to sign up. Then, I pay $19 per month. I probably will not need to go beyond one month considering I printed everything out. But, I can make a few bucks if I market it to someone else. Doc, please tell me what you think of my web sites: [affiliate links removed by Creditnet] Tell me which one you like the best or what I should change. Today, I moved from credit improvement (avg score 734 as of 4/03) to debt reduction. What a great day. I know this is long. But, that's what happens when you have an epiphany. CardKid PS. This isn't some sort of solicitation. I've contributed to this board for several years and never passed bad information or tried to sell anything. I'm looking for comments and suggestions regarding the web sites a created. Thanks.
hmm, I'm definately intrigued. Does anybody else here have any info about this? If I want to sign up, do I do it through you?
I have a ONE PAGE PRINT OUT of all the credit cards we have in decending order with the HIGHEST INTEREST RATE AT THE TOP (15.90% WIFE TARGET VISA)...down to CHASE #1 and CHASE # 2 HIS/HERS @ 0.00%... I list the TYPE of card and like till AUG 1,2003 or FOREVER or TILL PAID... If I get a BT on a card that is going to expire...I KNOW IN AN INSTANT IF THE "GO-TO" IS WORTH IT...IF NOT I PAY IT IN FULL... I ALWAYS PAY MIN. (rounded up to the next $100) ON THE LOWER RATES AND ANYTHING ABOVE 9.99% IS ALWAYS PAID IN FULL... I am happy with the BT "JUMPING" and asking for lower rates and applying OCCASIONALLY for a new card if I need to DUMP ONE... I ALWAYS LIST THE "GO-TO" AND THE "BT" RATE (BOTH) NOT THAT THIS OTHER PROGRAM IS BAD...BUT THIS IS ALMOST FREE GOOD LUCK WITH HOW-EVER YOU DO IT!!! MY OPINION~~ALWAYS PAY HIGHEST INTEREST RATE OFF FIRST...
Hi, Cardkid, I'm not sure why you're directing this at me, but I'll forge an answer. I'm familiar with the program you represent -- it's called "Everyday Wealth" -- and I'm not impressed. Basically, it's an MLM deal where participants are roped into paying $20/month [forever | until hell freezes over | until the cows come home | etc.]. The MLM is wrapped around a few things: 1) credit repair assistance (i.e., what you can get here for free), 2) good advice about managing debt (what you can get at DaveRamsey.com for free), and 3) affiliated opportunities to "save money" using their recommended insurance companies, credit card offers, etc. Basically you can do a much better job imho of shopping for such savings on your own -- or, even better, with the assistance of your fellow Creditnet members -- or even at great sites like FatWallet.com. Finally, even though you are a long-time poster here, this last message seems like a sales/recruiting job to me. I hope CCN steve deletes it posthaste, since this board should not be used to recruit for your MLM downline. Again, since you directed your posting to me, I'm going to give you my most honest assessment, and that's it. Doc
I agree with GEORGE. You can do this for free. I almost became involved in something similar, although through another company. You paid more upfront money, then no monthly fee (at least for a while). I was pretty enthused, but something held me back. I think I just was overwhelmed at work and procrastinated. Anyway, I think they did mention that they negotiated with the creditor, but I still didn't do it. Now, three years later, I'm well on the way to being out of debt. And I owed over $75K at the time. I've refinanced my house and bought a new car. I did basically what GEORGE outlined, but all of my BTs are for life of the loan, so I just use that as the interest rate, never use the card for anything else, and just list the BT rate as the rate. I'm just saying that I don't have a column for BT rate and one for Go-to rate, since I'm not worried about that right now. I listed the name of the card, the interest rate, the balance, and the minimum payment. I had a blank column for payment amount. Then I sorted by interest rate, highest on top. I figured out how much I could pay, and subtracted the total of the minimum payments from that. This is my "extra" amount. Add it to the minimum payment for the highest interest rate and put that in the payment column. On all the other cards, just put the minimum payment in the payment column. This is how much you pay each card. Each month, update the spreadsheet. If the card with the highest interest rate changes, rearrange your payments so that the "extra" amount is always on the highest card. Now, when that highest card is paid, take the ENTIRE amount you were paying on it and add it to the next higher card. Keep this up, and each time you pay off a card, roll the entire payment to the next lower one, adding the minimum you have been paying. So the amount you pay on the highest rate card increases as you pay them off. If you get any extra money (bonuses, tax refund, inheritance, settlements, etc), put that ENTIRE amount on your highest rate card. As I said, three years ago I had about $75K in credit card debt. I have gotten a small inheritance and a settlement from an accident and used them toward the debt. Otherwise, I've followed this process. As of today, I only have $500 or so that is above 8%, and that will be paid off when I get the next bill, as it is the next highest. My payment on my highest rate card is up to about $1100 a month. My recent goal has been to get all debt below 8%, much by balance transfer. I don't have a lot of reserve cash, so my husband and I decided that when we get everything below 8%, we'll put half of the money on the debt and the other half in our money market account until we get at least 6 months of expenses saved. Part of that may later go into a CD, but will stay in relatively safe, liquid investments. And I've done all of this without CCCS, and without paying anyone. To me, this is a major accomplishment. When I was very heavily in trouble, I couldn't even get a mortgage under 8%!!!
Thanks for your replies. I really wanted comments on the links. But, here's a quick response in a nutshell. First, I don't have to pay beyond 30 days if I don't want to. I can build my plan and quit. Second, if everyone could master this on their own, the nation wouldn't be trillions of dollars in debt. Third, I spent about a tank of gas worth of money to save over $300k on my debt and become completely debt free in 11 years vs. 18 years. Fourth, I can shop for loans anonymously and without harming my credit report, scores or accumulating inquiries Fifth, I can earn the membership cost (less than $20) back with just two sign-ups per month if I decide to go beyond 30 days or cancel without a problem. I'd pay $1,000 for a program that would give me a roadmap like this. Did I mention my savings of over $300k? Do you know anyone that offers all of this (other than a financial planner that wants a % of the savings)? The ex-CEO of Wal-Mart started the company and he doesn't want anymore than a $19.95 to help us save hundreds-of-thousands without refinancing and all that stuff. If you want to refinance something, they have a lending center. Doc, I posted to you because I asked about the program in the past and didn't get a reply. Then, I decided to give it a try after I contacted someone that's already involved with it. In the end, it's 100% worth it to my family. CardKid
CardKid: Soliciting opinions about your personal multi-level marketing web site in order to gauge which page therein is "better" effectively skirts our Terms of Service provisions regarding solicitation. Such personal promotion is not allowed here even when the product is credit-related (such as ICR Services credit repair; EverydayWealth; etc.). Your cooperation is appreciated. This thread is now locked; further correspondence regarding this matter should be sent directly to me via my profile email link. CCN steve
