Credit Counseling?

[summerrluvv]

Actually recent studies by various watchdog groups show that there have been virtually no changes in BK since the news laws have taken effect. A few more people have to go Chap. 11, but people are still able to file BK with miniml effort. It's just a little more expensive now, and you have to do credit counselling before and after - but the laws haven't made it any more difficult to get the BK discharged.

I guess the CC lobbyists wasted a lot of time and money getting this one passed since it hasn't increased their bottom line any.

And I'm sure once word gets out that it's not as difficult as it was expected to be that even more people will be filing.

Yup this is true. I've seen a bit more Chapter 13's in our office but the payment plans are very minimal based on what they actually owe and while business has slowed down a bit, it's still pretty busy.

 

[FamilyGuy]

Another great book that I just read and it changed my whole perspective is Young,Fabulous,and Broke by Suze Orman. She makes things so simple and I got some great ideas on how to improve our financial situation. She has a website also that you can log on to with a code from the book and get endless resources.

The one major difference with Orman is that she does not have you swear off of credit all together. Ramsey says ALL debt is debt, regardless if it's an auto loan, a 0% intrest financing deal from a retailer, etc.

What a shocking revalation it was to me that it is simply the debt that brings me down financially speaking (or consumers down in general). Trying to live today off of future earnings. I no longer beleive in consumer credit for any purpose (a home mortgage is a different story). Car loans - no way. I will forever pay cash for my cars. Credit Cards - no way. Debt is Debt is Debt is Debt. A heavy debt load is the equivalent of financial cancer!

I am sooooo done keeping up with the Joneses... the Joneses are broke!

Before Ramsey I had read The Millionaire Next Door, The Richest Man in Babylon, 9 Steps to financial freedom, and other great money titles. I knew all the basic concepts, paying off debt, paying yourself first, 15 yr mortgages (not 30), driving a used Taurus that is paid for (instead of a 'fleeced' BMW). All this knowledge did not really help me. I was still living way too large. Big income, big house, new cars, all the stuff one could imagine....

When I, for the first time in my life fell behind on my mortgage, and then read Dave Ramsey, together with my DW, things began to change. It was out of need that things changed. And what a change.

Dave Ramsey showed me that money smarts follow the 80/20 rule like so many other things in life. Financial success is 20% head knowledge, and 80% practical application. No point knowing all the correct things to do, financially speaking, if you are unable to apply the concepts. It's the focus and intensity and seeing your goals come to fruition that works. Knowing that you are going to sacrifice today so that you can have in the future.

Anyways enough rambling. Can you tell that Dave Ramsey has really made a huge impact on me?

Bye Bye debt load