Posts Tagged ‘debt free’

Secret 4 Out Of 7 Secrets To Financial Freedom

Thursday, January 20th, 2011

Alright so you have read my blogs criticizing the system; that can only help you go so far. You probably still want to know what the real secrets are to be free of the debts you have. First we suggest to our clients to stop focusing on the amount of debt they have and second stop focusing on lowering expenses and instead begin to focus more on a few other more important matters, like expanding their means by increasing their income (without finding a second job) and start spending time shopping for assets to acquire, and we don’t mean a second vacation home in California.

You probably realize that everyone has very different strengths and capabilities to buy assets; however everyone can at least hunt the market and shop for assets. I am convinced you can shop because you shop for restaurants to eat at; you shop for automobiles, home or apartments, furniture, health insurance, and interest rates on your credit cards or savings accounts. You are a consumer who shops so over time you buy stuff but when is the last time your purchases assets? Let me give you and idea of what an asset is; it is ownership in something that puts money in your pocket on a ongoing basis without leaving you in a position to have to work for that money on a per hour basis. At first it takes a lot of work shopping for the right asset, but when you find it and buy it, it should produce income for you and pay you until you decide to sell.

So, you’re probably asking, where do you find these assets? Right away what comes to most peoples mind is buying assets like stock on the open stock exchange, or they think that their IRA or 401k is an asset. A 401k is definitely not an asset; it is more like a leach sucking the blood out of its helpless victim. You are the victim of the leach and the leach is the wealthy corporation depleting your saving through funds owned by their 401k and inflation.

Did you know that you can receive a dividend (return) from purchasing either publicly traded or privately owned companies such as Walmart, for as little as $50 at a time and receive a guaranteed dividend? Consider buying $50 of Walmart shares every month last year; you would have $600 of Walmart ownership, or close to it, plus a guaranteed dividend. This is not very exciting but this is where a lot of us people start out. Overtime you will learn to shop and purchase assets in the thousands of dollars and not put a penny out of your own pocket towards the deals.

Furthermore, everybody can raise their income and the fastest way, to raise a persons income is through sales. In Fact the highest paying profession on average, even higher than attorneys and doctors, is sales. Did you know that the Internet is the hottest tool to sell information? Selling information could increase you income help everyone and improve the lives of others. My case in point, you expect that I am selling a product, I am selling a service offered by our company but your are reading it for free and what price can you place on the benefits of this information?

We all sell, we sell each other on our thoughts, many of us have sold a company our labor by the hour and have sold the employer on our ability to do a specific type of job, and that was all in one sale. We sold and keep on selling our husband or wife or children on our beliefs and ideas. You have to have faith and believe that you can and should sell stuff, humankind would move very slowly without agents advertising and selling services and products for the suppliers of services and products.

Now you know Secret 4. Secret 4 is to focus on buying assets and increasing your income. Increase your earnings so you can continue buying more assets, but not to pay down your debts, at least from where you are starting at the moment. Keep in mind you received that money legally; it’s now time to move on. If this bothers you, perhaps you’re not prepared for the last 3 of the 7 secrets. But I think you are.

If You Can’t Make Your Debt Payments

Tuesday, September 21st, 2010

A surprising number of people start thinking about bankruptcy when they fall behind on their credit card payments. Some people who are unfamiliar with our legal system believe they will go to jail if they stop paying. Not true. Furthermore, most creditors, including credit card companies, banks, and medical-care providers, can’t go after your wages, bank account, or home unless they first sue you in court and win.

Suing you takes time and money, and not all creditors are willing to take this step. If a creditor does sue you, you’ll be personally served with a summons and complaint, after which you’ll typically have 30 days to file a simple response that denies the allegations and makes the creditor prove its case at a trial months or even years down the road.

Because of the potential expense involved in bringing a lawsuit, many creditors instead will declare the debt as “uncollectable” and write it off on their taxes. If you don’t own real estate and have few assets that could be seized, or you are unemployed or receiving Social Security, this is likely to happen in your case. In other words, while bankruptcy can get rid of most debts, you may be able to just stop making your payments without any consequences (except lowering your credit score), and save the bankruptcy fees. If a creditor does sue you later and win, and you have assets or income to lose, you would benefit from specific asset protection and wage garnishment prevention techniques offered by FreedomFromCreditors.

If You Just Want to Stop Collections

Probably the most common reason people think of filing for bankruptcy is to put an end to the blizzard of telephone calls that comes your way once you stop paying on your credit card or other installment debts. While a bankruptcy filing provides a quick solution to this problem, so does a federal law called the Fair Debt Collection Practices Act (FDCPA). The FDCPA (Title 15 U.S.C. Section 1692c) and the laws of many states require creditors and collection agencies to stop calling you at your home or workplace if you ask them to. Or, as one judge of my acquaintance recently told a bankruptcy filer, “If you don’t want your creditors calling you, change your number.”

If You Need Help Deciding

It’s not always easy to weigh the pros and cons of filing for bankruptcy against the consequences of waiting it out and working with Plan B Consultants. Give us a call or leave your questions on this blog and we will happily provide information on your options free of charge.

 

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