Posted on: 10th May, 2008 10:35 am
Let me say first that I am in no way advising anyone not to pay their credit cards/loans. They must be and will be paid for by you if you have any desire to increase your net worth, or cash and assets. There is no way to get around them unless you file Bankruptcy and there is no reason to file Bankruptcy if you have a way to negotiate with your creditors and supply a source of income to fulfill those negotiated terms.
So there are the two ways to rid yourself of debt. Well so it seems. You also have to form your own credit/loans. By doing so you no longer have to go to another source for loans and credit for the things you need. There are ways to enable yourself to recieve and profit from your own loans and credit.
There are things to do and steps to take, but more important than the day to day actions are the principles involved. Principles are the intangibles behind your actions, they precede what you do. They are what cause you to "live" what you want verses "trying to get" what you want. This is important to understand because while you are "trying to get" what you want you are "living" what you dont want.
If you know the right principles to integrate then you automatically default to success. It is actually resetting yourself. When there is a breakdown in the principles there is a breakdown in the whole system. Notice the principles break down first. As I mentioned in a different posting I have extensive Real Estate and Mortgage experience but I am also a Licensed Life Insurance. After obtaining my Life License I was able to see a bigger picture and understand how insurance and finance work extremely close together. These are things I am not putting out there as reading material, I am actually living this. Now I can share them with others, legally. If you want more info on the above subject you can contact me thru the website below. As for negotiating with creditors a book that has helped me is the Credit Secrets Bible. I know alot of you may have it out there but its helped me in certain situations. Its an actual book so you have to read it, its not like a manual filled with instruction pages.
If you do not have a copy you can reply and I will forward you a copy for free.
Tim Golden
TGolden Consulting/Insurance
"www.goldenprops.insurance.officelive.com"
[Link deactivated as per the forum rules]
So there are the two ways to rid yourself of debt. Well so it seems. You also have to form your own credit/loans. By doing so you no longer have to go to another source for loans and credit for the things you need. There are ways to enable yourself to recieve and profit from your own loans and credit.
There are things to do and steps to take, but more important than the day to day actions are the principles involved. Principles are the intangibles behind your actions, they precede what you do. They are what cause you to "live" what you want verses "trying to get" what you want. This is important to understand because while you are "trying to get" what you want you are "living" what you dont want.
If you know the right principles to integrate then you automatically default to success. It is actually resetting yourself. When there is a breakdown in the principles there is a breakdown in the whole system. Notice the principles break down first. As I mentioned in a different posting I have extensive Real Estate and Mortgage experience but I am also a Licensed Life Insurance. After obtaining my Life License I was able to see a bigger picture and understand how insurance and finance work extremely close together. These are things I am not putting out there as reading material, I am actually living this. Now I can share them with others, legally. If you want more info on the above subject you can contact me thru the website below. As for negotiating with creditors a book that has helped me is the Credit Secrets Bible. I know alot of you may have it out there but its helped me in certain situations. Its an actual book so you have to read it, its not like a manual filled with instruction pages.
If you do not have a copy you can reply and I will forward you a copy for free.
Tim Golden
TGolden Consulting/Insurance
"www.goldenprops.insurance.officelive.com"
[Link deactivated as per the forum rules]
Hi Tim,
Very good information but I have not understood some parts of it. "You also have to form your own credit/loans" Can you please elaborate what you are willing to say here. It will help us to understand.
BTW are you a credit expert?
Best of luck,
Larry
Very good information but I have not understood some parts of it. "You also have to form your own credit/loans" Can you please elaborate what you are willing to say here. It will help us to understand.
BTW are you a credit expert?
Best of luck,
Larry
Sure... if you like i can send you a book for free called "Becoming your own Banker - The Infinite Banking Concept". Just reply to this. I am trying to do this without being promotional, but its what I do. No I am not a credit "expert", have not passed any tests or anything on credit, just alot of experience with credit from 9 years of mortgage, real estate, and credit card business, and my own personal experiences.
thnx!
Tim
thnx!
Tim
Hi Tim,
To help me better understand what perspective you are speaking from. What is your definition of Finance? What is your definition of Insurance?
To help me better understand what perspective you are speaking from. What is your definition of Finance? What is your definition of Insurance?
Welcome goldenprops,
Good to hear that you have a lot of experience on mortgage and real estate field. Hope you can help people who come in this community with their mortgage and credit related problems.
Hope you will enjoy participating here.
Good to hear that you have a lot of experience on mortgage and real estate field. Hope you can help people who come in this community with their mortgage and credit related problems.
Hope you will enjoy participating here.
great questions...Finance in this case speaking of lending/loans etc. and insurance speaking of Life Insurance products. Its better explained in the book.
Tim
Tim
Thank you for the clarity.
i am only giving part of the information, as i mentioned i am trying not to be promotional...maybe i can start submitting some videos for this website or something. If you would like to see me on video here let me know! But anyway in order to better understand you must have a basic idea of how most loans are formed.
Say an investor has $10,000 in a CD that earned 10% interest in a year (this is only example i know that is no way near possible in a CD in a year, just an example here) and so now that CD has generated $1,000 in interest income. That $1000 is now made into a signature loan and offered to consumers on a 2 year loan at 13% interest .
Say you start falling behind on your loans, due to late payment fees are added on. Not only that if you continue the loan is assigned to a collection agency who adds on more fees. On top of that, your credit is being shot and you have to pay higher interest rates on any loan you may get in the near future, if you can get a loan/credit at all. All because you cannot pay back the interest on someone elses interest income. Most people live on their principal, or stake money, day to day. That equals BROKE. Believe me I know. And yes I can say i was an Expert at that! lol
So the consumer is breaking his/her back trying to pay this loan that is merely interest earned by an investor. Not trying to say the consumer is a victim becaue they did accept the loan, but you can see how investors compound their interest, at you and your family's expense. Now as problems arise you start losing things, houses, cars, boats, credit cards etc. Things that are necessary to day to day life are being taken. All because you went to an outside source for a loan/credit. You are in their pocket.
Also understand that lending is a business - If you are that investor you want to make as much interest off of your money as possible right? Who pays the higher interest rates? People with middle to subprime credit. Those with excellent credit dont pay high rates because they can go anywhere to get funds. Those with lower credit are captive and forced to pay higher rates. So if you do have to go to an outside source..give the lenders what they dont want...excellent credit! Not saying lenders dont like good credit, but they know that excellent credit is less abundant than poor credit, so it offers a less risky source of income although less profitable.
So what to do? Well most, including myself before, were conditioned to believe that you must go to banks and lending institutions for loans. After finding out otherwise, I liken it to being told you cannot cook for yourself, that you have to eat out at McDonalds or Burger King or Applebees or whereever to survive. Well everyone knows better, I can cook for myself any time, all i have to do is apply alittle elbow grease and basic know-how. In order to get out of the pit of credit and loans you have to repay what you owe and start forming your own. Bottom line. You absolutely must become that "investor", but its more than actions such as investing here or investing there, as a matter of fact there is no investing involved in my consultations, as I am not a licensed securities broker/dealer. There are principles to follow. Think about it for alittle bit...when you cook for yourself do you know what you want and how to make it, or do you "try to make some food" and end up with nothing? unless you missed basic food prep skills growing up more than likely you can cook for yourself almost automatically, there is hardly any thought to it, that is because the basic principles are there and you dont have to think about it, you just LIVE IT and you get to eat.
In the book I mentioned above it describes some of the details, but its not all of what i consult my clients on by any means. I wouldnt be much of a consultant giving out my info. Or at least i wouldnt be profitable :) But what I aim to do with my clients is create a team or a unit...meaning I live like this and you can do this with me. It requires a lifestyle change (at least for me it did) and you must know what to expect so you can succeed.
Again folks if you are needing detailed info on how to deal with your creditors i will forward a copy of the credit secrets bible to you just reply to the post here. Its not something i use in my practice, i got it for myself at one time and it was a great help so i pass it on to people that need it. So since I am in the credit forum i offer it to anyone.
Tim Golden
Say an investor has $10,000 in a CD that earned 10% interest in a year (this is only example i know that is no way near possible in a CD in a year, just an example here) and so now that CD has generated $1,000 in interest income. That $1000 is now made into a signature loan and offered to consumers on a 2 year loan at 13% interest .
Say you start falling behind on your loans, due to late payment fees are added on. Not only that if you continue the loan is assigned to a collection agency who adds on more fees. On top of that, your credit is being shot and you have to pay higher interest rates on any loan you may get in the near future, if you can get a loan/credit at all. All because you cannot pay back the interest on someone elses interest income. Most people live on their principal, or stake money, day to day. That equals BROKE. Believe me I know. And yes I can say i was an Expert at that! lol
So the consumer is breaking his/her back trying to pay this loan that is merely interest earned by an investor. Not trying to say the consumer is a victim becaue they did accept the loan, but you can see how investors compound their interest, at you and your family's expense. Now as problems arise you start losing things, houses, cars, boats, credit cards etc. Things that are necessary to day to day life are being taken. All because you went to an outside source for a loan/credit. You are in their pocket.
Also understand that lending is a business - If you are that investor you want to make as much interest off of your money as possible right? Who pays the higher interest rates? People with middle to subprime credit. Those with excellent credit dont pay high rates because they can go anywhere to get funds. Those with lower credit are captive and forced to pay higher rates. So if you do have to go to an outside source..give the lenders what they dont want...excellent credit! Not saying lenders dont like good credit, but they know that excellent credit is less abundant than poor credit, so it offers a less risky source of income although less profitable.
So what to do? Well most, including myself before, were conditioned to believe that you must go to banks and lending institutions for loans. After finding out otherwise, I liken it to being told you cannot cook for yourself, that you have to eat out at McDonalds or Burger King or Applebees or whereever to survive. Well everyone knows better, I can cook for myself any time, all i have to do is apply alittle elbow grease and basic know-how. In order to get out of the pit of credit and loans you have to repay what you owe and start forming your own. Bottom line. You absolutely must become that "investor", but its more than actions such as investing here or investing there, as a matter of fact there is no investing involved in my consultations, as I am not a licensed securities broker/dealer. There are principles to follow. Think about it for alittle bit...when you cook for yourself do you know what you want and how to make it, or do you "try to make some food" and end up with nothing? unless you missed basic food prep skills growing up more than likely you can cook for yourself almost automatically, there is hardly any thought to it, that is because the basic principles are there and you dont have to think about it, you just LIVE IT and you get to eat.
In the book I mentioned above it describes some of the details, but its not all of what i consult my clients on by any means. I wouldnt be much of a consultant giving out my info. Or at least i wouldnt be profitable :) But what I aim to do with my clients is create a team or a unit...meaning I live like this and you can do this with me. It requires a lifestyle change (at least for me it did) and you must know what to expect so you can succeed.
Again folks if you are needing detailed info on how to deal with your creditors i will forward a copy of the credit secrets bible to you just reply to the post here. Its not something i use in my practice, i got it for myself at one time and it was a great help so i pass it on to people that need it. So since I am in the credit forum i offer it to anyone.
Tim Golden
I like your idea? How does one get a copy, you say just respond here, I would like a copy please?
ok just go to my profile and shoot me an email..i will forward a copy to you.