Saturday, December 27, 2008

Hold on to your hats people the down turn is coming back to get you!

While watching a TV commercial my jaw dropped.
They were offering to give you computers or LCD TV's even with your bad credit, no problem! They did not say free computers but that is what most will hear!
Here we go again does this sound familiar?
People in high places, and they must be high on drugs thus my reasoning of them being in or near or by high places or just plain high. The company is called Blue Hippo and they are offering people with bad credit things that they can't afford to buy. Why do these companies do these things to the poor or elderly? We all know why because they are either too trusting or dare I say greedy or dumb?
Anyone, ever hear of layaway? I understand its back. This is how that works you pay money that you earned on a weekly basis for something you need to have and this goes on until it is all paid off, and voila no interest is even charged!

Another squawker on the tube was claiming that for a price they can help you solve your credit problems!
Now being a former credit manager I do know that you can solve your own problems for free.
Are you listening?
Then all you have to do is call the highest interest card holders direct to their toll free number and ask to set up a lower interest rate and stick to the monthly deal that you make, be realistic and figure this out with your other bills before you call.
Then go down all your cards bills that you think that paying off a minimum will get you out of debt…well, you are lying to yourself!
Call each one of those too and make the same arrangements and pay more than the minimum by at least twice what they are asking. In other words if they ask for $25 you pay fifty, etc.
And finally, cut up your credit cards and don’t buy another thing that you can’t pay cash for or with a prepaid debit card! Those are available at the grocery store where you should always pay cash!
And then you will eventually be out of debt, TA DA!
And never get yourself in that situation again.

Credit is an interesting thing, but most misunderstand how it works.
Contrary to some people’s thinking it is not free money, well, in a way it is a thirty day loan and if paid at the end of the cycle it could be considered free money in that respect, but you must pay it all at that time not just a percentage of what you owe.
Interest is compounded into your head and your pocket books or wallets and then you become poor, in BIG DEBT! Got it?

Sorry, I went slightly berserk, but with the country… really the whole world is in such an economic mess I thought we could all use a refresher course on how it really does work.
We are all responsible as much as the big companies and banks, credit cards etc.
Even the middle class has been greedy it's not only the poor and elderly.
I can remember from childhood that my Mom had a saying that no one can make you do anything you don’t really want to do. Truer words were never said.
Sure they sugar coated all those housing deals with mumbo jumbo that you had to have nearly an MBA to understand and no one was really on your side to explain to you would never ever be able to pay it all back; when the interest jumped those 3 or 4 percentage points higher. Keep this thought in your head next time if it sounds too good to be true; it is!
Even when you kept refinancing to get all that extra money so you could buy another toy to add to that collection and make sure that your kids could keep up with the Jones’s.
The deal was too sweet.
Credit cards maxed out to help pay for groceries? What’s that all about?
We all should be held culpable.
All the ones that stood by, you know who you are, and never said a word, the realtors who wanted the sale so bad that the property appraisers had to come in at the right price so their buyers could afford it, and now you can’t sell a thing.
The banks bent their rules too with qualifying people not able to buy their next meal none the less, solvent enough to be a home buyer and business people with no business acumen by giving them more money than they could ever afford to repay.
When we stop blaming just certain people and not the whole of our population then and only then will we, as a people, called human beings learn how to make this all that much better.

Please dear world keep the faith.
Doing stupid things even as bad as all this I truly believe can be fixed so do not lose hope.
After all, our new leader wrote the book on the Audacity of Hope, courageous is something, for all persons to strive for in these hard times, not just for the ones in uniforms.

Good night to all and to all we will come back from the greatest depths since the depression and that is why I do know that we can do it; we did it before!

Speaking My Mind: Which way will the war go?

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