Category Archives: Debt

My Extra Payments towards my Auto Loan was not being applied to Principal!

It was a cold winter day in 2006.  I was 6 months out of law school working at a firm where I usually stayed till about 7pm.  I walked to my trusty, lovable Nissan 240sx.  This car had so many miles the odometer literally stopped working (I am not kidding it was stuck on 160k). Continue Reading

What Kind of Credit Card Debt Repayment Person Are You?

I’d like to think that I have a wide variety of friends.  These friends range from successful business owners to civil servants to a friend that was unemployed for the better part of 18 months (health reasons).  So it was interesting when I told a bunch of them about getting rid of my credit cardContinue Reading

When Applying for a Mortgage don’t Forget to Calculate your Debt to Income Ratio

A buddy of mine is attempting to buy his first home, and learned a very valuable lesson that no one learns about until they attempt to buy their first house.  It is a lesson that most people do not think until their mortgage broker tells them the bad news.  I bet you are thinking, “Ugh anotherContinue Reading

Sometimes You HAVE to Ignore the Right thing to do! I Cancelled my Bank of America Credit Card Today

I almost never lose my temper with customer service reps, and it usually gets me what I want or at the very least closer to my goal.  Whether we are talking about the cable company, cell phone companies, and most financial/credit card companies – I usually get what I want. Before I get the commentsContinue Reading

What is a Default Judgment? How Does it Affect your Personal Finances?

This post is not written to be legal in nature, otherwise it would be a whole heck of a lot more boring, rather I just want to highlight the basics of a Default Judgment and what to do if you find out there is one on your credit report.  I have never practiced in thisContinue Reading

15 vs 30 Year Mortgages – Longer is better!

I read an interesting post that really got me thinking today. It was written by a great blogger nicknamed Money Hawk, if you have never read his blog I implore you to check it out. He wrote a great post titled “Kick Financial Ass With a 15 Year Fixed Mortgage.” His basic premise is simplyContinue Reading