TChapman

I get tired of all these 'predatory lenders' and I am an advocate for exposing their secrets and teaching people how to get out of financial ruin.

Most creditors start off dealing with their 'clients' with an unfair advantage.

1- They know that you need their money.

2- They know that you will sign (almost) anything that they require in order to get what you are after or what you really NEED at the time.

Most creditors take advantage of those two facts. The only way to avoid "being in need" of their money is to have...
1. GREAT SAVING HABITS
2. EXCELLENT CREDIT
3. GOOD CASHFLOW (that means a lot of money left over after paying for your monthly needs)
...which will eventually provide you with a lot of CASH in the bank with which to buy everything you NEED without financing.

Now, most of us are not blessed with all three (or at least not all 3 at the same time). Even if you have all three, in this day and age, you will probably still need to get financing (main example - buying a home) unless you were born with a large inheritance.

Of course MOST creditors have to stay competitive for those that have at least 2 of the 3 previously mentioned criteria going for them. So, if you have a lot of income and good credit but you can't seem to save money, you are treated fairly (i.e. - low rates, favorable terms). OR If you make gobs of money and can save money just fine, but you just can't seem to remember to pay those bills on time, you are treated all right.

But what about those people who are having a hard time making money, saving money and paying those darn bills? Well, they are the ones that are paying the highest interest rates, the most late fees and the most bank fees. And they are the ones that can LEAST AFFORD IT!!

For example, You may have been forced to get one of those 20%-30% PER MONTH pay day loans or 'title' loans. You probably have at one time (or currently are) one of those that are charged A LOT OF MONEY for not having enough money.

Later on I will write more about how to get out of the vicious cycle towards bankruptcy or foreclosure that these 'creditors' try to put you in.

Well, my good wife Sarah decided to start her own blog, so I guess I might as well do it too. : ) I used to be very diligent at keeping a daily journal and actually kept one for 2 years straight. We'll see how long I keep up with my "online journal".

Mostly I think I will post things here that pertain to my line of work. Helping poeple get out of financial problems and avoid the pitfalls of predatory lenders and other unfair creditors.