tag:blogger.com,1999:blog-81647204018093958062011-06-07T23:10:17.757-07:00American Financial Solutions (AFS), is a non-profit Credit Counseling Agency with nine years of experience helping people manage credit and debt and achieve their financial goals. We offer confidential professional budget counseling, financial education and debt solutions to clients nationwide. The mission of AFS is to empower people to improve the quality of their lives through financial education and counseling.Steve Axtell, Certified Credit Counselorhttp://www.blogger.com/profile/13752348128180668170noreply@blogger.comBlogger881100tag:blogger.com,1999:blog-8164720401809395806.post-90497314712695314522009-05-20T08:06:00.000-07:002009-05-20T08:06:00.998-07:00

The top 10 credit card issuers have agreed to implement changes to provide more affordable Debt Management Plans (DMP) and hardship programs for consumers, in a response to a Call to Action from the National Foundation for Credit Counseling (NFCC). The call to action is supported by American Financial Solutions and its fellow members of the Association of American Independent Consumer Counseling

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-69184336865725739092009-04-30T10:20:00.000-07:002009-04-30T10:20:01.042-07:00

If you are at the point where you are able to save some of your paycheck each month, you will find the world of investing to be personally satisfying—both now, while you are doing it, and later when you can reap the benefits.How do you know if you should invest money? One clue is to look at how you are managing your overall financial position. If you are having trouble meeting your expenses, you

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-7948165239400382332009-04-29T10:10:00.000-07:002009-04-29T10:10:00.658-07:00

Predatory loans are those that expose the borrower to risks like high fees, unreasonably short pay back times and very high interest rates. Examples of these types of loans include payday loans, predatory mortgage loans, tax refund loans, overdraft loans, and some credit card arrangements. Let’s take a look at each of these. Payday Loans According to the Center for Responsible Lending, a payday

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-19209191895689532652009-04-28T09:07:00.000-07:002009-04-28T10:09:58.068-07:00

Identity Theft is the fastest growing white collar crime in America today. According to the Federal Trade Commission (FTC), as many as 10 million Americans have their identities stolen each year. The more you know how to protect your identity and what to do if a problem occurs, the harder it is for identity thieves to commit their crimes.Identity theft is when someone uses your personally

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-80854856347076474232009-04-27T08:52:00.000-07:002009-04-28T10:06:02.240-07:00

Education is the first line of defense against fraud and deception; it can help you make well-informed decisions before you spend your money. Today’s exercise, read up! Fair Debt Collection Practices Act (FDCPA): The law outlines consumers' rights to dispute overdue bills placed with collection agencies, an original credit using a different name to collect the debt, or a lawyer collecting a debt

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-8208223284094572782009-04-26T11:22:00.000-07:002009-04-26T11:22:00.834-07:00

In honor of Financial Literacy Month, American Financial Solutions is bringing you information and tips to help you gain the knowledge and skills to manage your financial resources effectively. Join us the week of April 27-30, our focus will be on consumer information such as consumer credit laws, identity theft and predatory lending. “If you don't design your own life plan, chances are you'll

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-90787783942927894122009-04-25T10:43:00.000-07:002009-04-25T10:43:00.180-07:00

Congratulations, you have made it through week 4!You have learned a great deal about credit; qualifying for credit, shopping for credit cards, the cost of borrowing, and how to calculate the APR. “An investment in knowledge pays the best interest.” ~Benjamin Franklin

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-14698577534364013852009-04-24T10:36:00.000-07:002009-04-24T10:36:00.868-07:00

The cost of credit is not as easy as simply knowing the interest rate. Knowing how to calculate the APR will place you in a better position to choose the appropriate credit for your needs.The Annual Percentage Rate (APR) is the cost of credit (actual interest rate) measured on a yearly basis and is expressed as a yearly rate.Here’s how to calculate the APR;On credit card billing statements, the

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-50750800842627961262009-04-23T09:08:00.000-07:002009-04-23T09:08:00.100-07:00

Credit is a convenience; you can enjoy your purchase while you're paying for it, or you can make a purchase when you're lacking ready cash. There are strings attached – it will cost you. Credit costs do vary a lot depending on the interest and other finance charges.Take our Credit Reality Quiz to truly understand the cost of credit.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-11627180176901505432009-04-22T09:51:00.000-07:002009-04-22T09:51:00.161-07:00

It’s your money so when choosing a credit card it is important to pay attention to and compare the following features:Annual Percentage Rate (APR): When evaluating credit card offers it’s important to understand the difference between the interest rate and the APR. The interest rate is the percentage of the loan amount that the bank is charging you to borrow money. The APR includes other costs of

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-13269676293920723822009-04-21T09:46:00.000-07:002009-04-21T09:51:18.625-07:00

Banks evaluate customers who are seeking loans. There are five characteristics that banks and other financial institutions examine in deciding who qualifies for a loan. These are the five C’s of Credit; Character, Credit capacity, Capital, Collateral, and Conditions.Character might include personal characteristics like consistency, stability, and standing in the community and usually includes

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-42336734500445404802009-04-20T14:41:00.000-07:002009-04-20T14:53:36.826-07:00

Using credit properly can be a great tool but requires organization, money management skills, and responsibility. The simplest reason for using credit from time to time is that some purchases are so large that they would exhaust your savings if you had to come up with all of the cash at the time of purchase. These include purchasing items like a home or vehicles, or paying for college.Before you

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-31339522377638713602009-04-19T09:32:00.000-07:002009-04-19T09:32:00.748-07:00

All through the month of April, American Financial Solutions is bringing you information and tips to help you gain the knowledge and skills to manage your financial resources effectively. Join us the week of April 20-24, our focus will be on using credit properly, qualifying for credit, shopping for credit and the real costs associated with borrowing. “Remember that credit is money” ~Benjamin

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-55744545045203790602009-04-18T09:30:00.000-07:002009-04-18T09:30:00.380-07:00

Congratulations! You have made it through week 3; you have learned how to get your credit report, what is in a credit score, how to correct your credit report and how to improve your score. “The most important thing for a young man is to establish credit - a reputation and character.” ~John D. Rockefeller

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-63550602360263263582009-04-17T07:22:00.000-07:002009-04-17T08:22:42.507-07:00

Your credit score has become extremely important these days and seems to follow you everywhere. If you score seems low and you want to work on improving it here are some tips:Review your credit report for any errors and correct glitches that may not be accurate (but are still hurting your current score). Manage your bills carefully. Monitor your checking account carefully to avoid bouncing a

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-24338584858592339642009-04-16T15:49:00.000-07:002009-04-16T16:08:26.290-07:00

A credit score is a complex mathematical model that evaluates many types of information in a credit file to help lenders estimate the risk they incur by lending someone money or providing them with a service like. Lenders use the credit score to determine whether a person qualifies for a loan, credit card or service and to determine the rates. Generally, the higher the score, the less risk the

Becky Househttp://www.blogger.com/profile/06993218051508800678noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-38510036513782779032009-04-15T14:18:00.000-07:002009-04-15T14:32:12.293-07:00

It is possible for your credit report to have mistakes. These might range from a trivial item such as a misspelling in the personal information section, or something more serious such as a claim that an account was not settled. Report your dispute to the credit reporting agency (CRA) in writing. List what information you believe is inaccurate. Include copies (NOT originals) of documents that

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-59375123338442809922009-04-14T11:45:00.000-07:002009-04-14T13:18:41.841-07:00

You may wonder what is in a credit report. A credit report contains personal information, account history, inquiries section, public records and contact information for the credit bureau. The report is divided into several sections; let us examine each section of Dana’s report individually.Personal Information – name, social security number, records on file of previous addresses, etc.Note the

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-49668913753939213702009-04-13T13:32:00.000-07:002009-04-13T13:42:41.882-07:00

Credit reports can be acquired by contacting each of the major credit bureaus--Equifax, TransUnion and Experian.You can opt to receive your reports by telephone or by mail, but the most efficient method is by access over the Internet – your reports can be in your hands within 15 minutes.Review the information below so you are prepared with the information you will need. Go to

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-56318179216726455252009-04-12T09:00:00.000-07:002009-04-12T09:00:00.826-07:00

All through the month of April, American Financial Solutions is bringing you information and tips to help you gain the knowledge and skills to manage your financial resources effectively. Join us the week of April 13-17, our focus will be on obtaining credit reports, credit standing, correcting credit report errors, and understanding the credit score.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-47555497533421386712009-04-11T09:00:00.000-07:002009-04-11T09:00:00.881-07:00

Congratulations! You have made it through week 2; you have learned the importance of pay yourself first, budgeting, controlling costs, planning for periodic expenses and how to dig out of debt. “If you know how to spend less than you get, you have the philosopher's stone.” ~ Benjamin Franklin

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-37509419258028184902009-04-10T12:00:00.000-07:002009-04-10T12:00:01.120-07:00

Debt is a major problem for a lot of people so don’t feel like you are alone. The problem is, even if people know they want to get out of it, they have a hard time figuring out how to start because the debt is overwhelming or there are so many bills to juggle.There is not one perfect way to get out of debt – every person’s financial situation is different. If you’re struggling to make your

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-25792049035710993232009-04-09T09:00:00.000-07:002009-04-09T09:00:01.574-07:00

Periodic expenses are foreseeable and unforeseeable expenses that do not happen on a monthly basis. Periodic expenses are things like; vehicle registration, birthdays, holidays, taxes, unexpected health problems, and car maintenance or repairs.Even though we usually know when periodic expenses are due, many of us have a hard time planning for them. What happens then? We may use our credit card,

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-59221836164036824022009-04-08T14:27:00.000-07:002009-04-08T14:27:01.099-07:00

One step toward controlling your costs is to understand and classify them.Compulsory costs are required – you must pay them, and pay them on time. Compulsory costs include things like health insurance, car insurance, property taxes, car payments, mortgage payments, and income taxes. Discretionary costs are ones that you could delay for a month or eliminate all together – purchase of a camera

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-82452943451284094562009-04-07T08:00:00.000-07:002009-04-07T08:38:40.597-07:00

Budgeting is the only practical way to consciously control your spending and to make sure your money is being used the way you really want it to be used.There are three basic elements to every household budget; Total Income, Total Expenses, and Cash Surplus (or deficit).If your result is negative then you must either increase your income or decrease your expenses.A typical budget includes the

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-48015235658151187282009-04-06T11:10:00.000-07:002009-04-06T11:33:02.919-07:00

When you Pay Yourself First (PYF), you’re mentally establishing saving as a priority. Building savings is a powerful motivator — it’s empowering to know you have funds for emergencies or financial goals. Many of people spend their money in the following order; bills, fun, savings. Not surprisingly, there’s usually little left over to put in the bank. By bumping savings to the front — savings,

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-10109464220661078722009-04-05T09:00:00.000-07:002009-04-05T09:00:01.744-07:00

April is Financial Literacy Month and a great time to shape up your finances! For the week of April 6 - 10 our focus will be on the principles of Pay Yourself First, Budgeting, Controlling Cost, Planning and Digging Out of Debt. “It takes as much energy to wish as it does to plan.” ~Eleanor Roosevelt“If at first you do succeed — try to hide your astonishment.” ~Harry F. Bank

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-89968254509893978052009-04-04T09:00:00.000-07:002009-04-04T09:00:00.461-07:00

Congratulate yourself! You have made it through the first steps; you are aware of your money habits, have gotten organizes and have set some short and long term financial goals!“The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-3062416271982910732009-04-03T09:00:00.000-07:002009-04-06T08:13:37.437-07:00

Properly set financial goals can be incredibly motivating, and as you get into the habit of setting and achieving them, you'll find that your self-confidence builds fast.The process of setting financial goals helps you determine where you really want to go in life. By knowing exactly what you want to achieve, you know where you have to concentrate your efforts. You'll also learn to quickly spot

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-21623846585514818872009-04-02T08:30:00.000-07:002009-04-06T08:20:19.258-07:00

Where are your bills and receipts? If you had to sit down right now and organize your receipts or pay your bills, could you?It can be a real pain to have to find all of your bills and receipts and organize them in a manner that makes it easy to pay your bills on time and be able to find a receipt if you need it. However, this is just as important as developing a budget or setting your financial

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-78415850955502915372009-04-01T09:00:00.000-07:002009-04-06T08:21:21.880-07:00

April is Financial Literacy Month and a great time to shape up your finances! Throughout the month we will guide you through various personal money management topics and exercises to help you gain the knowledge and skills to manage financial resources effectively for lifetime financial security. Building financial security requires having the right information, planning and making good choices.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-71384701926534896282009-03-31T08:41:00.000-07:002009-04-06T08:30:36.870-07:00

The American Recovery and Reinvestment Act of 2009 provides for a one-time payment of $250 to adult Social Security beneficiaries, and to SSI recipients, except those receiving Medicaid in care facilities. To receive the payment, the individual must be eligible for Social Security or SSI during the months of November 2008, December 2008 or January 2009.The payments should be received by

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-47190885579469990262009-03-25T09:10:00.000-07:002009-03-26T09:46:58.934-07:00

By Becky House, ACCLast year Fair Isaac and Company (FICO) released a “new” credit scoring model. The new score is now available through TransUnion and was created to provide lenders a better tool with which to make lending decisions.Lenders use credit scores to evaluate the probability that a person will repay their debt responsibly and on time. The score is a numerical “grade” of your credit.

Becky Househttp://www.blogger.com/profile/06993218051508800678noreply@blogger.com1tag:blogger.com,1999:blog-8164720401809395806.post-72231855777528017582009-03-20T08:07:00.000-07:002009-04-06T08:24:46.983-07:00

The job market is not getting any easier out there. As reported by the U.S Bureau of Labor Statistics (BLS), joblessness at the end of February 2009 increased by 651,000. The national unemployment rate of 8.1 percent is the highest in over 25 years, totaling 4.4 million unemployed Americans.If you are one of many people who have become unemployed, it is important to contact your state’s

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-73442639463418852122009-03-06T09:04:00.000-08:002009-04-06T08:27:37.801-07:00

National Consumer Protection Week is about bringing you, the consumer, the nuts and bolts you need to make decisions in today’s economy. We at AFS want to encourage you to take advantage of the resources available, which represent the best tools that federal, state and local government agencies – and consumer advocacy organizations – have to offer.USA.gov - This site has official information and

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-30880249973466667532009-03-02T10:30:00.000-08:002009-04-06T08:36:29.146-07:00

NATIONAL CONSUMER PROTECTION WEEK: GIVING YOU THE TOOLS YOU NEED FOR TODAY’S ECONOMY American Financial Solutions is proud to announce that it has joined a group of federal, state, and local government agencies and national consumer advocacy organizations to launch the 11th annual National Consumer Protection Week (NCPW), March 1-7, 2009.NCPW 2009 — Nuts and Bolts: Tools for Today’s Economy —

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-90975202418941924102009-02-26T09:26:00.000-08:002009-02-26T09:26:00.430-08:00

During these tough economic times many states are looking for ways to cut expenses. One popular way to reduce or eliminate the costs of writing paper checks to unemployment recipients is by using automatic deposits or a prepaid debit card system to send people their money.What are the pros of the debit card system? It is more affordable to those who do not have a checking or savings account as

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-66927654728175339912009-02-15T13:49:00.000-08:002009-02-15T13:49:00.430-08:00

When counseling clients, I often hear statements like, “I am going to pay off my debt with my tax refund.” This is a noble idea and I fully support paying off debt in any way possible!The problem, however, is that the clients making these statements are often struggling with month to month bills- keeping the mortgage or rent current, utilities caught up, even food on the table. It is not unusual

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-1374965256483949182009-02-13T13:15:00.000-08:002009-02-20T09:44:02.727-08:00

The Earned Income Tax Credit or the EITC is a tax credit for low income working individuals and families.For 2008 the amount of income you can earn to claim the credit has increased as found on the IRS website: More than 1 child with income less than $38,646 and $41,646 if married filing jointly,1 child with income less than $33,995 or $36,995 if married filing jointly,No child with income less

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-71866719064750097952009-02-11T14:13:00.000-08:002009-02-20T15:50:33.074-08:00

You have tried talking with your creditors- you’ve tried (and been denied) a loan- you’ve discussed all of your options with one of our Certified Credit Counselors and there seems to be no other option but bankruptcy…While we encourage everyone to avoid bankruptcy, there are times when it may be inevitable. At that point, what do you do? Consult a bankruptcy attorney—someone who specializes in

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-29506606680339227252008-11-26T08:51:00.000-08:002008-11-26T09:24:16.108-08:00

I love Thanksgiving because it is a day to be grateful for what we already have.In my home we keep our gathering very casual. We are all about comfort, being together and of course, sharing a love for football.Family members bring side dishes and beverages to ease the cost of our feast. Dinner time is always at halftime. One thing I am very grateful for is that the children do the dishes.After

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-83391104456455994142008-11-18T11:38:00.000-08:002008-11-18T11:58:34.232-08:00

Many retailers stopped offering layaway plans during the times of easy credit but in today’s economy they are back and better than ever.To take advantage of most retailer layaway plans you do need to go into the store. Here is a list of some stores we found that are currently offering layaway plans; Kmart, Sears, Marshall’s, TJ Maxx, and Burlington Coat Factory. In our research, we also found an

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-12557654309087215352008-11-10T13:57:00.000-08:002008-11-10T14:06:30.077-08:00

It’s time to put a bright bow on your budget!Are you ready for the upcoming holidays? Although November 28th is the traditional kick off of the holiday season, decorations of all kinds are already flooding the retail stores and catalogues of gift ideas are being delivered by the truckload to our mailboxes encouraging us to get in the “spending mood” earlier and earlier every year. That means you

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-65963810273720922922008-11-03T12:51:00.000-08:002008-11-03T13:33:55.330-08:00

In today’s economy it is important to find new ways to save. Being in the Credit Counseling Industry, we decided to ask our staff some of the creative ways they are saving their money.“My wife and I have gotten great bargains by shopping at thrift stores like Good Will . For example, we bought an item my wife has seen for $75 for less than $10.” –Rick, Certified Credit Counselor“One thing we did

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com2tag:blogger.com,1999:blog-8164720401809395806.post-1315901979428952702008-10-24T04:20:00.000-07:002008-10-24T04:20:00.540-07:00

Q: We just can't get ahead of our credit card debt, our credit scores aren't quite good enough for a loan. Is there a way to get a consolidation loan with a credit score of 630?A: There are a variety of factors that lenders may look at when determining credit worthiness for a loan, one of those is your credit score. Depending on the creditor’s lending guidelines, they may also look at your income

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-66053612249278367102008-10-21T13:27:00.000-07:002008-10-21T14:21:53.887-07:00

Q: I had given bankruptcy some thought and spoke to an attorney and I was advised that it might be better to talk to a credit counseling agency. I however don't see any thing about secured debt.My problem is this; I found out in June of 2007 I had cancer and after two surgeries it cost me my job due to physical restrictions. Prior to this, I had one credit card and had purchased a boat in 2006.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-73800357107592441372008-10-01T14:24:00.000-07:002008-10-01T14:32:50.384-07:00

The House passed H.R. 5244, otherwise known as the Credit Card Holder’s Bill of Rights on September 23, 2008. H.R. 5244 is an amendment to the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan.Here is a list of some pieces included in the bill:Protects cardholders against arbitrary interest rate

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-3162908723717687122008-09-24T07:00:00.000-07:002008-09-24T07:00:02.523-07:00

Q: Regarding our credit card debt. We want to get our debt in order, and I told my husband I’d start looking at alternatives to help bring some sense/sensibilities to our situation. We’d like someone to guide our “two person team” to help us make that happen.Our challenge: We live in a rural area and traveling great distances is not easy on my husband. I also have a job with long hours (5 am – 5

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-12224901015113511242008-09-22T07:00:00.000-07:002008-09-22T07:06:43.419-07:00

Hank Keaton, President/CEO of American Financial Solutions (AFS), has been elected Vice President of the Association of Independent Consumer Credit Counseling Agencies (AICCCA). AICCCA is a national membership organization representing non-profit credit counseling companies, established to promote high quality and consistent delivery of consumer credit counseling, debt management, and financial

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-48803604289833748592008-09-18T07:35:00.000-07:002008-09-18T07:35:01.002-07:00

For Immediate Release September 9, 2008Bremerton, WA ‐ Financial literacy issues bring Senator Derek Kilmer to local Credit Counseling Agency.With shared concerns regarding the deepening credit crisis accompanied by a weak labor market, high inflation and falling house prices, Senator Kilmer met with Ron Lafayette, President of the North Seattle Community College and Hank Keaton, President of

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-4479586198286023472008-09-16T10:53:00.000-07:002008-09-16T11:25:31.359-07:00

August 28, 2008 Press ReleaseBremerton, WA ‐ State Representative Larry Seaquist (D‐26th District) visits local Credit Counseling Agency on impact of housing and credit crunch.Rep. Seaquist, concerned with the economy and the impact on both low and middle income families, met with Hank Keaton, President of American Financial Solutions (AFS) and AFS staff to learn, first hand, about the impact of

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-49320587396369421002008-09-15T07:30:00.000-07:002008-09-15T07:30:00.496-07:00

Question: I will be applying for a private student loan within the next few months and want to be assured approval. I have little credit history and no one to co-sign with me. I have one credit card which I started using in June. Will four more months of using this one credit card be enough to give me a decent enough credit score to be approved for a private student loan?Answer: Building your

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-53727617882063095112008-09-12T09:31:00.000-07:002008-09-12T12:25:14.327-07:00

I love parties, don't you? With the holidays coming, my calendar seems to fill up quickly with parties and dinner engagements. You don't have to spend a lot of money to host a great party - the keys are planning and creativity.The first and most important step in saving money with a party is in the planning process. I don't mean just planning the party itself but planning your parties as far

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-38520544633825785062008-09-04T14:25:00.000-07:002008-10-01T16:31:10.584-07:00

Q: All my outstanding debt is paid off! Can you help me get it off of my credit report?A: All items, positive and negative, stay on your credit report for 7 years. The good news is that these debts should now be showing as “paid” on your report. This should have a positive effect on your credit score. It may take some time for the creditor to change the status on your credit report as not all

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-78984414802751023462008-08-30T14:05:00.000-07:002008-08-30T14:05:00.734-07:00

Americans are juggling medical debt and turning to credit cards to pay their health care bills. A recent study released by the Commonwealth Fund has found that nearly 79 million adults in the United States are struggling to pay medical bills or have medical bill problems.If you've been hit with an unexpected medical bill, follow some of these helpful tips to cope with paying them:Everything's

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-81806554068907754822008-08-25T09:13:00.000-07:002008-08-25T12:41:07.886-07:00

A debt settlement is when a creditor agrees to accept less than what is owed on a principle balance of a debt.Many agencies offer Debt Settlement Services, often charging high upfront or ongoing fees when individuals are already experiencing financial distress.An individual can work directly with a creditor to settle a debt on their own but must have a lump some of money to offer the creditor(s)

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com2tag:blogger.com,1999:blog-8164720401809395806.post-39871123866124008562008-08-20T10:41:00.000-07:002008-08-20T10:54:40.208-07:00

Q: Recently, I received letters from my credit card companies stating this is my last chance to work with them before being written off as bad debt. At this point, I still do not have enough income to pay them even the slightest amount. Should I contact the credit card companies, or continue to ignore there calls and letters? If I speak to them, what can I accomplish? How does this affect my

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-3770803787902872892008-08-01T07:31:00.000-07:002008-08-01T08:34:49.994-07:00

Your state or a near by county may be having a Sales Tax Holiday that will make items like clothing and school supplies more affordable beginning as early as August 1st.A sales tax holiday is a temporary period during which purchases of certain items are exempt from the sales and use taxes. Governments usually create tax holidays as incentives for business investment.Check our Tax Holiday chart

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-79675501983798137222008-07-29T09:14:00.001-07:002008-07-29T10:02:24.560-07:00

Up until a few years ago my husband and I really struggled to keep our finances in order. Every month I would make a budget, but the money on paper never seemed to go as far as the money in my bank account.My first step in understanding why I was always broke was to list and categorize all of the money we spent each month. I made categories for groceries, gas, fixed bills (telephone, cable,

Becky Househttp://www.blogger.com/profile/06993218051508800678noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-34003597259153294202008-07-24T14:38:00.000-07:002008-07-24T14:58:40.695-07:00

Annual back-to-school shopping can put a strain on any family’s budget. Considering today’s economic situation with rising fuel, energy and food prices – smart planning and shopping are essential. Back-to-school shopping presents a perfect opportunity and a real-life situation to discuss finances with your children. Here are some tips to get you started;Get Organized: Take an afternoon and assess

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com1tag:blogger.com,1999:blog-8164720401809395806.post-18331346686211568712008-07-16T07:17:00.000-07:002008-07-16T07:37:44.534-07:00

Americans are living longer, 77 million baby boomers preparing to retire and there is a longstanding shift away from defined benefit employer pensions. A serious retirement challenge is rising. Are you ready for it?Here are some sobering statistics from The 2008 Retirement Confidence Survey:62 percent of current retirees say their income is 70 percent or more of their pre-retirement income.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-23344769834524999732008-07-09T13:06:00.000-07:002008-07-09T13:06:00.899-07:00

Do you wash it, iron it, and put it in neat stacks in your wallet. Or is it smashed, wrinkled and getting no respect? Do you know how much you have to work to get that dollar in your pocket? Let's figure it out. Let's say you make $12 an hour and work 40 hours a week - that's $480 BEFORE deductions! Now for those deductions;Taxes 20% = $96Social Security 6.2% = $29.76Your part of your health

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-85017361099468427362008-07-07T12:37:00.000-07:002008-07-07T13:04:53.291-07:00

I hear reports in the news each day about desperate homeowners smashing their walls and ripping out wiring or copper pipes. Their idea is to sell the items for cash. Some misguided homeowners are angry at the bank for foreclosing and they vandalize their homes. People who vandalize a foreclosed home are not harming the bank, they are harming themselves. Vandalism is senseless and it is against

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-47545463959410792452008-06-30T09:16:00.000-07:002008-06-30T09:16:01.963-07:00

Many of us made a renewed commitment to our health with the New Year, but what about our finances? Here are 10 tips to ensure a financially fit summer!Extra Bank Accounts – Get rid of all those extra bank accounts. If your money is scattered into too many accounts you risk not being able to accurately track your finances. One linked checking and savings account should suffice. This means

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-36515909138331741612008-06-28T09:13:00.000-07:002008-06-28T09:13:00.721-07:00

Let’s face it, for most people their most valuable asset is their home. That is why it is so important to keep it in good repair. Summer is a good time to inspect your home and complete annual chores around the outside of the house. Your annual budget should include a monthly amount put aside in a savings account to cover home maintenance costs. If you have not been doing this, now is the

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-20639195105826914602008-06-26T09:03:00.000-07:002008-06-26T09:11:50.272-07:00

Despite the current credit crisis, now is a good time to be a first time homebuyer if you are mortgage ready and a good money manager. There is a glut of houses for sale across the nation and sellers are very motivated. An article on CNNMoney.com recently stated that “For the first time in years, entry-level homes are affordable.” The first step to owning your own home is to attend a Free First

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-81170585165967471602008-06-25T06:36:00.000-07:002008-06-25T07:58:27.394-07:00

A good way to save for a summer trip is to open a savings account specifically for that purpose and put a little away each month as soon as you receive your pay check. By paying yourself first, you will be sure to reach your vacation budget goals.Use the following tips to have a worry free vacation: Make a vacation budget. Calculate how much you will pay for travel, lodging, food and spending

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-44434114454986813532008-06-19T13:47:00.000-07:002008-06-19T13:50:41.122-07:00

What I wish I had known before I came to work at American Financial Solutions could fill a library. I had no knowledge of credit scores or credit reports, nor did I know how all of this was affecting my life. I had been trying to purchase a car for several years and couldn't figure out why no one would finance me. I'm a nice, responsible person who holds down a job and goes to work everyday, so

Christine Mackiehttp://www.blogger.com/profile/03188941843928404829noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-55616775510535997992008-06-17T18:07:00.000-07:002008-06-17T18:24:20.279-07:00

We all have one thing in common – the need for basic healthcare.In a 2007 study according to the Common Wealth Fund it was found that 75 million adults in the United States between the ages of 19 to 64 are either underinsured or just not insured at all. The underinsured are defined by spending 10% or more their income (or 5% or more if low-income) on out-of-pocket medical expenses or if they had

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-84396543760019315862008-06-13T12:02:00.000-07:002008-06-13T12:19:03.530-07:00

One of the best kept secrets in business is that everything is negotiable. This is particularly applicable when shopping for a car. You’ve probably seen car salespeople hovering in the doorways of the dealerships, watching your every move and waiting to strike. This is because they make money every time they sell a car…which puts you, the consumer, in a position of power. In order to use that

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-25311205269505068322008-06-06T07:38:00.000-07:002008-06-06T11:06:44.933-07:00

Electricity costs have risen to shocking heights over that past decade. Depending on the state, costs have risen between 22% and up to 33% in some parts of Illinois. If that is not enough, The Old Farmer’s Almanac is predicting this summer season to be a hot one.Why is the cost of electricity rising? Rising fuel prices are a big factor – fuel is used at a number of plants to produce electricity.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-62404363773375578722008-06-05T07:15:00.000-07:002008-06-05T07:22:19.840-07:00

Over the last few months, you may have seen and heard countless reports regarding mortgage foreclosures, adjustable rate mortgages “resetting” with much higher payments, and the general gloom of the mortgage industry.Many, if not most of these reports state the importance of keeping in contact with your mortgage lender once you are falling behind. What is sometimes left out, however, is the

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-91670676471496676242008-05-22T13:14:00.000-07:002008-05-22T13:21:44.999-07:00

Are you one of the many Americans feeling overwhelmed by growing credit card balances, diminishing savings, and the increasing cost of everyday necessities? The first step toward a financially stable tomorrow is facing your situation today.I suggest that you take the following quiz. The results will reveal whether or not you need to seek professional help to avoid falling into a deeper financial

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-29797744478115068532008-05-17T07:01:00.000-07:002008-05-16T07:02:45.293-07:00

We know times are tough when it costs more to make a penny than the penny is worth.The cost to create a penny is up to 1.26 cents and the cost to create a nickel is about 7 ½ cents. Congress may try to bring back the steel made pennies created by the U.S. Mint during World War II and may do the same for nickels.What does this mean to you? It means that printing coins at a cost higher than face

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-90639309898772636882008-05-17T07:00:00.000-07:002008-05-17T07:00:01.098-07:00

Are you tired of sifting through piles of junk mail every week? Do you receive multiple catalogs and credit card offers? According to the Center for the New American Dream, a non-profit organization dedicated to promoting responsible consumerism, the average American receives 11 pieces of unsolicited junk mail per week. That equates to 100 million trees lost per year! Take these easy steps to

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-71168933477212716882008-05-15T10:55:00.000-07:002008-05-15T12:16:20.119-07:00

We all know that debt has a negative effect on our credit, but what about our health?According to a study published by Ohio State University; financial stress, specifically credit card debt, may put your health at risk. Most consumers consider it common knowledge that financial problems can elevate stress levels; however, this is the first study to examine the link between health and credit card

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-42129582657538964922008-05-01T07:11:00.000-07:002008-05-01T07:55:34.534-07:00

Your credit score does a lot more than help you get a better interest rate - in today’s credit world it is becoming increasingly more important to be keep a good credit rating for basic things like employment, renting, and even insurance!The main ingredients to the credit score include the Payment History, Amounts Owed, the Length of Credit History, New Credit and the Types of Credit Used.This

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-27138484924844889312008-04-30T12:11:00.000-07:002008-04-30T12:17:23.194-07:00

Before April 2008 comes to a close, I want to share a tidbit of history behind Financial Literacy Month. Financial Institutions and Non Profit Organizations near and far have been working together promote financial change in today’s record high levels of debt.National Financial Literacy Month is recognized in the United States in April in an effort to highlight the importance of financial

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-78995843426200197722008-04-25T15:07:00.000-07:002008-04-28T07:36:08.190-07:00

A client recently asked the following question:"I have lots of debt that is building up more and more each month (falling behind). I am considering a refinance loan, as long as it is a low fixed rate, to a 40 yr mortgage. I currently have a 30 (paid 5 into it) and have a home equity. Is this a good idea? Should I consider taking extra to pay off other debt?"Paying off debt by refinancing your

Steve Axtell, Certified Credit Counselorhttp://www.blogger.com/profile/13752348128180668170noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-31043381971351773342008-04-25T10:12:00.000-07:002008-04-28T07:18:40.665-07:00

The two biggest concerns people seem to have with living life without credit cards are:what will they do in an emergency andhow will they be able to reserve a car or a hotel room?Below is some advice on how to plan for these situations.Emergencies: If you stop and think about it, how many of your current credit card charges were actually for emergencies? Rather than continue to pay interest and

Becky Househttp://www.blogger.com/profile/06993218051508800678noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-82426981112664044952008-04-23T06:35:00.000-07:002008-04-23T11:11:41.718-07:00

Will they ever learn? Or maybe better to ask, will we ever teach them?On April 9, 2008 Jump$tart, the National Coalition for Personal Financial Literacy, announced that financial literacy among High School Seniors is still on the decline.In Jump$tart Coalition’s biennial survey given to 6,856 high school 12th graders in 40 states, students correctly answered only 48.3 percent of the questions.

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com4tag:blogger.com,1999:blog-8164720401809395806.post-1972360464626205382008-04-22T07:05:00.000-07:002008-04-28T07:38:30.519-07:00

"Why didn't anyone teach me how to save and budget when I was young?"A simple idea: If we want to get really good at something, we have to spend time learning about, and practicing, this something. Money is one of the biggest 'somethings' we need to learn. If we don't get to practice with it when we're young, chances are we aren't very good with it when we're adults.Imagine this: Your son (or

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.comtag:blogger.com,1999:blog-8164720401809395806.post-89292945305473578392008-04-21T13:04:00.000-07:002008-04-23T11:12:19.618-07:00

What do you consider “debt free?” Does being debt free include having no house payment, no car payment, no student loan, and no credit cards? Or are we just talking about the miscellaneous debts like credit cards, medical bills, personal loans, and collections? It’s all debt, but some debts cost us much more than others.Many people believe that in order to become debt free you must close or stop

Becky Househttp://www.blogger.com/profile/06993218051508800678noreply@blogger.com4tag:blogger.com,1999:blog-8164720401809395806.post-6353854645828342962008-04-18T11:42:00.000-07:002008-04-23T11:19:59.518-07:00

One of the most frustrating situations a credit counselor encounters is a client in the payday loan trap. The client took out a loan to help stretch his paycheck and now finds he is unable to repay the loan without falling further into financial distress.The problem is people can rarely afford to repay the payday loan in full. If they do it leaves them without enough money to meet their essential

Becky Househttp://www.blogger.com/profile/06993218051508800678noreply@blogger.com4tag:blogger.com,1999:blog-8164720401809395806.post-37000842962915130142008-04-15T13:38:00.000-07:002008-04-23T11:20:18.761-07:00

When people ask me about a Debt Management Plan (DMP), they are usually looking for a magic wand that will erase all of their debt woes. Needless to say, there is no magic wand to improve your financial situation or poor credit rating. Improving these takes work, personal dedication and time.The DMP is a program of debt consolidation that allows you to make one payment each month on a date you

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com1tag:blogger.com,1999:blog-8164720401809395806.post-45560125407967398082008-04-08T12:49:00.000-07:002008-04-23T11:20:37.740-07:00

The job market is not getting any easier for the first quarter of 2008. According to the U.S. Department of Labor U.S. jobs have decreased by 5.1% or 80,000 in March 2008.If you've just lost your job, the decisions you make in the coming days and weeks may be critical to your financial survival. How you organize your time, corral your resources and handle your money will help determine whether

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com0tag:blogger.com,1999:blog-8164720401809395806.post-31162273443736276542008-04-08T12:33:00.000-07:002008-04-23T11:21:07.894-07:00

Beginning in May 2008, the U.S. Government will send economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return – the IRS will take care of the rest.Tell us how you plan to spend your stimulus payment.I have a few suggestions;1. Use it to improve your financial

Angelique Knapphttp://www.blogger.com/profile/03982426264147746168noreply@blogger.com1tag:blogger.com,1999:blog-8164720401809395806.post-81524402496806104762008-03-11T14:13:00.000-07:002008-04-02T13:54:59.833-07:00

The primary purpose of bankruptcy is to give a person, who is unable to repay their debts, a chance to start over financially. There are two (main) types of individual bankruptcy. Under Chapter 7, debtors are sometimes required to turn certain property that they owned when they filed their bankruptcy petition, over to a court trustee. This property is sold, and the proceeds are used to pay the

AFS Customer Servicehttp://www.blogger.com/profile/04116538159570267412noreply@blogger.com1