My Personal Finance Blog

Debt settlement consumer protection act has brought great comforts for both lenders and borrowers. If you want speedy relief in your problems of loan then you should take keen interest on debt settlement consumer protection act. In the early days, people were not aware of the option of the debt settlement program. This was all because of the presence of various fake companies in the society. Such bad companies just tried to catch the innocent people and made false promises with them to fill their own pockets. This is why most of the consumers were afraid to consult the experts of the debt settlement program. But now the fact has changed as the government of America has made modifications in the laws and after this a smile on the faces of consumers has been seen. In this article you will read that why debt settlement has become a legitimate option now?

If you are facing problems of loan then don’t worry because now it has become easier to settle unsecured loans due to the FTC’s new rules and regulations. If you succeed in getting information about the new FTC laws then you can solve your problems of loan within days. You should be careful while selecting any settlement agency. The reason is that some fake companies are also working in the society. Such fake companies cannot do anything for you and your debt elimination. You should avoid such companies if you want to get rid of the loans soon. The new laws of government have banned on asking advance fees from consumers. That’s why most of the credit card holders are turning to the debt settlement programs. After the government’s action against loans, the ratio of bankrupt people has started to go down day by day.

Thanks to the federal government and the new laws, debt relief program has become more reliable and more acceptable among the consumers. If you really want to finish your problems of liabilities in a legal way then you should consult the specialists of the debt settlement program. After concerning them, they will negotiate with your lenders to get instant discount for you. The experts of this program work under the full support of the federal government. This is why there is no possibility of fraud in this method. There is no doubt that the debt relief program has become a legitimate alternative to filing bankruptcy.

Federal governments have very much concerned for the financial conditions of consumers and that is why they are continuously making changes in the laws to provide relief to the consumers. This is a fact that the financial institutions and credit card companies are earning a lot of profit from consumers against different kinds of loans. In order to save credit history and to maintain credit scoring, the consumer continuously pays the loan amount for certain time period until he realizes that his pockets are empty. On the other hand, there are lots of companies working for debt relief which are not only legal but also working under the government’s observations.

The federal government can only provide protection to the consumers by making some changes in the acts so that a consumer can get easy relief from the massive debts. A Few years back, settling debts legally was impossible and most of the people were declaring themselves bankrupt. The arrival of new act of debt settlement has not only decreased the ratio of bankruptcy but has also led the consumers to live a debt free life.

Debt settlement is a legal and easy way to get rid of the massive debts in a short spam of time. This is a process of negotiation which is mostly operated by the legitimate debt relief companies and those people who are in massive debts can get out of these problems by hiring these companies. Once again the federal government is helping the consumers by changing the act of debt settlement companies. According to the new laws of debt settlement companies, a consumer is no liable to pay any upfront fees for the services of negotiation. The reason for change in the law is that many fraudulent companies were deceiving consumers by taking high charges in advance. Due to this, the consumers were losing confidence over the companies and this thing was increasing the ratio of bankruptcy. To provide instant and safe relief to consumers, the government has made this change and now confidence over the companies is increasing.

The change in acts is must in this era because the consumers’ debts are increasing day by day and people are unable to get instant relief.

How I saved $92.89 last week. With the rising cost of gas and personal dwindling savings, I have found it even more imperative to find ways to cut cost and save. In reassessing my financial state, I noticed that one of my greatest expenses was in the area of grocery. A hundred dollars a week in groceries can easily add up to over $500 a month! Yes, this is one of those necessary expenses we have that tend to reach deep into our pockets and leave behind only a few pieces of chump change after all is said and done.

So what is the solution since everyone needs to eat and groceries need to be bought? I have found that what worked well in the past still works well today. You guessed it, GROCERY COUPONS! I used to clip coupons at one point but took a hiatus because I stopped receiving the Sunday newspaper which housed the coupons. Recently, I have started printing free coupons and clipping them again and am carefully watching my savings grow. Let me give you a concrete example of a grocery receipt that I had recently:

Total Cost $140.65

Balance $47.76

Total number is items sold = 29

VERIFIED TOTAL SAVINGS $92.89

My purchases at Ralphs Grocery store totaled $140.65. I used free printable coupons and regular coupons which saved me a total of $48. However, I ended up only paying $47.76 with a verified total savings of $92.89.

How did I do that?

I saved more than the coupon value because of double coupons. Double coupons are coupons that are scanned twice to save the customer double the amount. For example, if the grocery coupon was good for $1.00 off, you would end up saving $2.00 because of double coupons, imagine if you had printed a coupon that was $2.00 off! This is an automatic savings feature at the grocery store. But note that not all grocery stores are the same!

As of today, in my area, only Ralphs doubles all their coupons automatically. It used to be that both Ralphs and Vons doubled their coupons but Vons Grocery Store had discontinued their program. Couple the double coupon savings at Ralphs with their Ralphs Club program (a program with free membership that allows additional savings) and you can save up to triple the coupon amount.

Using this method, I ended up paying

* $1.00 for laundry detergents

* $4.50 for jumbo size Pull-up diapers

* $5.00 for jumbo size Huggies & Pamper diapers

* $1.00 for a large container of baby wipes

* $0.00 (free) for a 64 oz bottle of Juicy Juice

and so forth.

What is the work involved in clipping coupons, free printable coupons and using them to their maximum capacity?

* First, print your free printable coupons.

* Second, check the grocery advertisements that are mailed out each week. Look for items on sale and use the coupon then.

* Third, make sure you use the coupons at Ralphs Grocery Store (or any other grocery stores with double coupon offer) if they are having sales on the item in which you have the coupon. Sometimes other grocery store (which does not have the double coupon program) may have an item on sale that Ralphs does not. In this case, using the grocery coupons at the other grocery stores may end up giving you a greater savings.

Furthermore, you can save even more when you purchase your groceries with a credit card that give 5% or 6% cash back (please refer to my credit card article). If you pay $100 in groceries with a cash back credit card, you can get $5 or $6 cash back.

Since doing all these steps, I have found that my grocery costs have dropped down to a third or half of what it used to cost. I am able to save money as well as buy more quantity and higher quality foods for my family because of this and I get to try new foods that I would not otherwise buy!

For those with children on a low income budget, consider government assisted programs such as WIC. WIC stands for Women, Infants, and Children. This program helps families with children to buy the necessary foods without cost. For more information, go to the WIC Program

Lets start off with a simple explanation of how insurance works. In the good old days before those kind men got together in the Lloyds coffee shop, people were responsible for their own losses. If the horse pulled their cart into a ditch and this broke the wheel, the owner had to put his hands into his pock’ets (which fortunately had already been invented) and pay someone to repair the wheel. But once people could share the risks, life was suddenly better. If you gather together a big enough group of cart owners, each will only have to pay a small amount into the central fund to cover the losses of the few who have accidents. Those men at Lloyds were on to a winning business formula. Moving into modern times, the idea of spreading the risk is the same and, with thousands of people in each group, the cost of loss is divided into small premiums. But, with profits under pressure, the insurance companies came up with a new variation on the old theme. Suppose they could persuade their customers to accept the risk of some of their losses. This would then become self-insurance for part of the risk. The rest would be paid by the insurance companies. So the deductible was born. You agree to pay the first portion of any loss. In the case of traffic accidents, most of the fender benders are minor and don’t cost much to repair. That means you pay for most of the repairs yourself and the insurance companies get richer. Ironically, if no-one opted for the deductible, the increase in the premium for everyone in the group would be trivial.

So let’s get to an actual example to see how it works. If you agree to accept a deductible of $1,000, you will be given a discount on the premium. Say you save 10% over the year. Now that’s a good saving if you manage to get through the year without having an accident. But suppose your luck is not good and you have an accident. The bill for repairs is $900. You put your hand in your pocket (pockets are such useful things – always seeming to have money in them) and pull out the dollars. Was your 10% saving over the year more than $900? If not, you are making a loss, not just on the insurance policy but, if you had to use your credit card, on the interest added to the $900 until it is paid off. What would happen if your run of bad luck continued and you had a second accident in the year? Do you have another $1,000 as savings or available to borrow? Perhaps we should not be so pessimistic. Worst case scenarios are always better applied to other people and never to you.

The higher the deductible you accept, the more of the risk you are accepting. Cheap car insurance is a wonderful thing to have so long as your luck holds up. But if your luck fails, the maximum deductible is going to empty that magic pocket of yours. And here’s the thing – you can be the safest driver in the world, always super careful, always following all the rules, and then you meet a dork behind the wheel of another vehicle and suddenly you’re wrapped round a tree. So look for cheap auto insurance, but always look at your cash position and ask yourself how well you would cope if the worst happened. Deductibles are good for people with a margin of financial safety.

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