The Truth of Credit

Educating the Least “Sophisticated” Consumer


Archive for June, 2008

Renting Versus Buying Part 1

I wanted to discuss the question of whether it is better to Rent or Buy a home? This is a common question for those first-time home owners or someone looking to re-establish themselves.

 In most cases, it’s better to buy a home than to rent. But not in every case. Comparing buying with renting is actually a fairly complicated endeavor. So [...]

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Bankruptcy Mailing List

Have you ever heard of a bankruptcy mailing list? You probably thought that you would quit receiving credit card offers after your bankruptcy, but because of a this list, you will receive more than ever! Credit card companies are eager to get your name after a bankruptcy, hence the need for such a list! They [...]

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Investing vs Paying Credit Card Debt

So lets say you win a scratch off and come into $5,000. What would you do with that money? This is a question I have thought long and hard about. Years ago I always thought invest first pay debt second. There are times when that mindset makes sense (IRA, 401k etc….). However, [...]

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Your Home is not an Asset (At Least not Yours)

Most bankers and financial planners will tell you that your house is your greatest asset. Robert Kiyosaki (of Rich Dad Poor Dad) has a different view. He says that your house is a liability not an asset. Simply put, an asset is something that puts money in your pocket, a liability takes money out.
I know [...]

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Garnishments of Bank Accounts

Sometimes I wish I had ten cents for every time a debtor told me “You cannot get blood from a rock”. Well here is an example of how it can be done.
Bank accounts can be garnished and, when they are, it is almost always a surprise to the debtor. What typically happens is creditors obtain [...]

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