Financial Destination Solutions

Costs Outpace Income Eightfold

2009-05-31T17:56:00.000-07:00

The report was prepared by the State Health Access Data Assistance Center (SHADAC) at the University of Minnesota. Researchers averaged data from the U.S. Census Bureau from 1994-1996 and compared it with average figures from 2006-2007. The report shows:

More Americans are uninsured. Nationwide, the total number of uninsured has increased by nearly 9 million, to 45.7 million. Across the U.S., 22 percent of men are uninsured, up from 19 percent; 18 percent of women are uninsured, up from 16 percent.

More working people are uninsured. Nationwide, the number of working uninsured adults has increased by more than 6 million, to 26.9 million. Currently, nearly one in five working adults (18 percent) is uninsured.

More kids have insurance. Nationwide, the rate of uninsured kids has fallen by 13 percent, to 9.2 million, which experts attribute to more children being covered by government insurance programs like Medicaid and the Children’s Health Insurance Program (CHIP).

Fewer people have private health insurance. Nationwide, the percentage of nonelderly people who have private insurance has dropped to 67 percent, down from 73 percent. Alaska, North Carolina, Utah, Vermont, and Virginia have all seen the percentage of privately insured residents erode by 10 percent or more.

The analysis from the Robert Wood Johnson Foundation (RWJF) documents the deteriorating scenario unfolding since then.

So what are you going to do about it? Here is what we are doing about it

Yes Debt Hell SUCKS!!!

2009-05-21T10:41:00.000-07:00

Numerous people talk about how debt sucks, but there is no magical solution. Debt repair is a useful tool that can help you dig yourself out from current debt situation. It requires discipline and a mindset to get away from debt. Debt Repair is for those who have been missing or making late payments or simply want to eradicate their debts.

By going through this process, you will be able to receive lower interest rates than you are currently paying. Not only you could save money by the reduction of interest, but if you do everything correctly you can increase you credit score.

If you want stop your debt from sucking, talk to an official credit counselor. They can help you determine your income, expenses, and debt to come up with a working budget. From this review of your financial situation, the counselor will be able to advise you the best option available in market for eliminating debt. For more information and help.

Credit Repair And Debt Reduction Strategies

2009-05-17T10:33:00.000-07:00

Often times you find yourself robbing Peter to pay Paul, or throwing the bills into the circular file so you can only pay the ones that don’t fall behind, it’s time to take back your life. At times you may find yourself in situations that spiral out of control and overpower all of your reasoning. You were raised to always pay your bills on time, and never walk away from someone you owe money to.

No two people are the same so the speed of pace on how credit repair can help you get out of debt and repair your life back to normal is very important.

Your time in a debt repair program depends on how much debt you have and how fast you can save money so that credit repair professionals can negotiate satisfactory settlements for you to get out of debt at a large discount and reduces your time in the debt recovery process.

Debt Repair Professionals have proven that if you work hard enough to qualify for credit and accumulates enough debt you need one of their programs. You do not have the ability and resources to get through to the end without help.

Most introductory consultation are very thorough in finding out the exact information concerning your situation. From this information you and the debt repair professional will jointly determine what program is right for you and will be able to live with given the resources you have.

Because of the care debt repair professional take in understanding your individual situation, most of those who start any programs will complete it successfully.

Upon completion of debt repair services you may enroll in special courses in managing personal finances. One can call this a Credit Repair Program, it is unique, just as you are.

Credit Repair Programs helps to ensure you will not get into a difficult debt situation again. It will also ensures that you have the skills necessary to live well and have the things you need and want without having to accumulate debt to obtain them.

Whatever your situation there are financial destination solutions for you and your debt. So where do you go from here. It's really all up to you to take the next step. To be honest it is simple, easy, and could even put more money into you pocket.

You may think we are crazy when we say "put more money into your pocket". You are now thinks we are nuts. How can being in debt put more money in my pocket?

Watch for our next blog post and feel free to leave your comments.

Credit card statistics, industry facts, debt statistics

2009-05-17T10:26:00.000-07:00

The following page and reports contains credit card statistics -- including statistics on credit card debt, credit card delinquencies, credit scores, credit card interest rates, bankruptcies, average credit card debt and more -- compiled by the CreditCards.com staff. Statistics on this page will be updated regularly as we receive new or updated credit card data. Some data may appear multiple times on the page because the information is applicable in multiple categories. To read more go to: Credit card statistics, industry facts, debt statistics and to find help go to Financial Destination Solutions.

Debt Management Plans or Debt Settlement When Bankruptcy Is Not Your Option?

2009-05-16T10:13:00.000-07:00

The U.S. Congress Joint Economic Committee stated that revolving consumer debt, which consists mainly of your credit card debt, amounted to $950 billion in the US. This meant that 13.9 per cent of your disposable income went towards servicing card debt. It is important for you as the consumer to seek guidance from a credit counselor in order to decide whether a Debt Management debt settlement is the correct option for managing and writing-off credit card debt. The right decision will help to minimize your cash flow and money problems.

Why Credit Card Debt is Difficult to Escape

According to Tara Siegel Bernard of The New York Times: "If you carry $10,000 on a credit card with an 18 percent rate and make only the minimum payment (say, 1 percent of the balance plus interest), it will take 32 years for you to pay it off — for a grand total of $24,834. That does not count late fees or over-the-limit charges." Also, the temptation is always there for you to spend more and create new credit card debt when family finances are tight.

Control Your Credit Card Debt with a Debt Management Plan

A single monthly payment to a credit counselor is disseminated to creditors on a pro rated basis. Rick Phillips, V.P. of Debt Management Plan Services at Consumer Credit Counseling Service, stated that: "A Debt Management Plan doesn't reduce the balance, but one of the big advantages is that the interest rates go down, usually significantly." The majority of plans clear credit card debt within 3 to 5 years.

How Debt Settlement can Clear Credit Card Debt For You

Debt settlement is different to a Debt Management Plan as it seeks to write-off up to 50 per cent of credit card debt. However, fees of up to 15 per cent mean that 'real' savings are much less. The front-loading of fees can also mean that creditors harass you' for repayment as you receive only a minimal amount for a number of months. FICO scores will also plummet, although they can be improve within a few years provided other monthly credit commitments are maintained.

Whether you chose debt settlement or Debt Management as the right plan for you may or may not depending largely on disposable income and non-exempt assets. Those with unmanageable credit card debt should consult a credit counselor in order to decide which debt solution should be used to alleviate money problems.

I would recommend that you review Financial Destination Solutions for Your Debt Settlement or Debt Management Options.

Sources

Bernard, Tara Siegel. (15 May, 2009) "Weighing the options with credit card debt." The New York Times.

U.S. Congress Joint Economic Committee. (May 2009) "Vicious Cycle: How Unfair Credit Card Company Practices Are Squeezing Consumers and Undermining the Recovery."

Disclaimer: This article in no way attempts to give legal or tax advice. One should consult a licensed attorney, tax adviser, or other qualified professional.

Is Bad Credit Giving You a Headache? Don't Worry There is Help

2009-05-13T06:25:00.000-07:00

CreditTrax - The Financial Destination Solutions, Our Program revolutionizes the Credit Restoration and Credit Rebuilding Industry. The program offers debt settlement services, student loan refinancing and Identity Theft protection all bundled into this portion of the FDI membership. Let’s face it, better credit means better terms in the financial arena.

With over ten years of experience and thousands of satisfied customers, we can help you restore your past credit history and also help you get the credit you deserve. The purpose of our Credit Restoration program is to help you improve your credit scores and to get you back into the best shape possible for lending. Whether you are looking to buy or refinance a home, purchase or refinance a vehicle, or you just want to improve your current financial standing, and can help get you back on track...

How We Get You Back On Track?

* Disputing of negative items authorized by you including: Bankruptcy, Tax Liens, Late Pays, Collections, Judgments, Repossessions, Charge Offs, Forcible Detainers, and Excessive Inquiries

* Credit Reports from all 3 bureaus (Trans Union, Experian, CSC [Equifax])

* You will have your own Personal Credit Consultant!

* Affordable Flat Rate Fees! (All Fees are paid to CreditTRAX on agreed services that have been completed for or on your behalf and you are never charged in advance!)

* Mortgage, Car loan, Tax Relief, Reestablishing Credit, Educational, and other Financial Assistance!

* Guaranteed Results! Find our More...

Debt Restructure Relief Choice - Your Credit Score - EquityTrax

2009-05-12T06:15:00.000-07:00

To begin with, you may be wondering what a Beacon or FICO rating is, and how it is used by creditors to determine your creditworthiness.

It is an industry standard for calculating a reliability factor (creditworthiness) for credit applicants. Your score is the number one criteria that all creditors use to determine what interest rate you will be charged on your mortgages, loans, and credit cards.

It is calculated based upon the information available in your credit report. Your credit report is used to determine your eligibility to receive credit, along with other strategic information that each creditor determines. Between your score, and your credit report, your financial health depends on obtaining, and maintaining, a good credit rating.

You Can Have A Different Score With Each Agency

Fair Isaac Company created the Beacon FICO score which is the one most commonly used.

The three major credit bureaus, Equifax, Transperian (formerly TRW), and TransUnion, carry information about you and your credit. This can result in your having 3 different scores if the data is different from bureau to bureau, which is often the case.

It's always a good idea, to check your credit reports, and credit scores, once or twice a year. If good information is missing from one bureau, or incorrect information is present, you can request it be fixed so your credit scores and reports show the most accurate, and complete, information available across all three major credit bureaus .

Beacon FICO Credit Score Ratings

Beacon FICO ratings range from 350 to 850, with 850 being the best rating (which gets you the lowest interest rates). Below 600 is when you may have loans turned down, or see much higher interest rates than those commonly advertised. Ratings commonly used and seen are:

500-559, 560-619, 620-674, 675-699, 700-719, and 720-850

How Does This Affect Your Debt Relief Choice?

For anything below the 560 rating, if you filed bankruptcy it would have a much lesser effect on your credit rating than if you filed with a rating better than 700. With a higher credit score, you might want to look at Financial Destination Solutions - Equitytrax and restructure your debt.

EquityTrax - This program systematically helps rid your life of the black whole that comes along with the credit trap. You are able to reverse your fortune and build wealth faster than you would if you just followed the standard debt diet we are commonly advised to take by friends and family. Most people don’t realize that it’s possible to become debt free including your mortgage, car and credit cars usually in less than ½ the time it would normally take using the same money you’re currently spending. Financial Destination, Inc. (FDI) EquityTrax program strategically maps out a plan that assists you with staying on track. Refinancing your home is not necessary to participate in the plan. The Financial Destination, Inc. (FDI) EquityTrax plan does not require you to apply or even qualify for a loan. The program provides a comprehensive plan that lets you know the exact date that you will be debt free. If things change for you and your family, i.e. you buy a new car, you just notify Financial Destination, Inc (FDI) and the plan can be revised accordingly. Your creditors have a game plan, do you? If no, then why not? The EquityTrax plan from Financial Destination, Inc. (FDI) can provide that plan for you. To find out more..

Financial Destination Solutions Team Up with Financial Destination, Inc -FDI

2009-05-12T05:46:00.000-07:00

Financial Destination Solutions has teamed up with America's Top Financial Destination.

Financial Destination, Inc - FDI is a privately held corporation that was founded in June 2003 by Mr. William Andreoli, President & CEO. The company's headquarters are in Windham, New Hampshire, located just 30 miles north of Boston, Massachusetts. FDI has assembled a strong core management team to ensure the company's competitive edge.

The FDI Mission - End Financial Illiteracy

First, our mission is to Stamp Out Financial Illiteracy Across the Country! Too many families are needlessly struggling financially. By becoming a FDI First Class V.I.P. Member you will Know More about your money. From Real Estate and Stock Market Training to Cashflow Management FDI's team of educators can put you on the path to financial freedom and debt free living!

Learn More about Financial Destination Solutions