GETTING OUT OF DEBT, Cliffs Notes

by Clampitt, Cynthia

• ISBN13: 9780764585135
• ISBN10: 0764585134
• Format: Paperback
• Copyright: 1999-09-01
• Publisher: John Wiley & Sons Inc

Summary

CliffsNotes: Getting Out of Debt is the fast and easy way to learn about getting out of debt and getting personal finances on track. This book discusses ways to identify debt, how to manage income to reduce debt, how to avoid additional debt and more. Features expert advice on money management that's easy to follow. CliffsNotes: Getting Out of Debt brings sanity back to personal finance. From school loans to car loans, credit card debt to mortgage payments, discover the best ways to manage finances and keep the checkbook in the black. * Filled with information and expert tips on managing personal debt and finding solutions to reduce it. * Gain the know-how to get of debt quickly and easily. * Features advice on planning, anticipating problems, credit card management and more! * About 70 percent of Americans own at least one credit card and 34 percent of them do not know the interest rate of the credit card they use most often. (American Demographics, May 1997)

Table of Contents

Introduction	p. 1
Why Do You Need This Book?	p. 2
How to Use This Book	p. 2
Don't Miss Our Web Site	p. 3
Understanding Debts and Expenses	p. 5
Credit	p. 5
Debt	p. 6
Secured loans	p. 7
Unsecured loans	p. 8
Expenses	p. 8
Essential expenses	p. 8
Nonessential expenses	p. 10
Borderline/Debatable expenses	p. 11
Identifying your expense types	p. 12
Assessing Your Situation	p. 15
Preparing Your Work Area and Gathering Your Tools	p. 15
Figuring Out How Much You Owe	p. 17
Total debt	p. 17
Debt as percentage of income	p. 19
Looking at How You Got into Debt	p. 20
Determining Your Priorities	p. 22
Looking at Your Resources and Assets	p. 24
Putting Together a Budget	p. 26
Determining and Refining Your Debt Repayment Goals	p. 26
Be positive	p. 27
Take your plans into account	p. 27
Establish a time frame	p. 28
Write down your goals	p. 29
Creating a Budget	p. 30
Evaluating Your Budget	p. 38
Planning to Stay Up-to-Date	p. 38
Using Your Budget to Get Ahead of Your Debt	p. 40
Using Your Discretionary Income to Pay Off High-Interest Debts First	p. 40
Cut up your credit cards	p. 43
Forget your savings for the time being	p. 44
Paying Down Other Debts	p. 45
Moving Money to Improve Your Debt Picture	p. 46
Finding Cheaper Debt	p. 46
Lower-interest credit cards	p. 46
Credit union loans	p. 48
Mortgage refinancing	p. 48
Considering Home Equity Loans	p. 49
"Finding" More Money	p. 50
Reducing essential variable expenses	p. 51
Changing your (expensive) habits	p. 52
Adding more cash to your cash flow	p. 53
Cutting to the quick	p. 54
Getting Help	p. 55
Debt Counseling and Other Debt Help	p. 55
Personal Counseling	p. 57
12-Step and Other Recovery Programs	p. 59
Government Assistance	p. 61
U.S. Department of Housing and Urban Development	p. 61
Internal Revenue Service	p. 62
Freddie Mac and Fannie Mae	p. 63
Veterans Administration and the Department of Veterans Affairs	p. 64
Consumer Information Center	p. 64
U.S. Consumer Gateway	p. 65
Beware of Scams	p. 65
Taking Drastic Measures	p. 68
Knowing Your Rights	p. 68
Fair Debt Collection Practices Act	p. 68
Fair Credit Reporting Act	p. 72
Consumer Credit Reporting Reform Act	p. 73
Dealing with Creditors	p. 74
Talking to your credit card company	p. 76
Dealing with fixed loans	p. 77
Stopping repossession of your car	p. 78
Considering Consolidators	p. 80
The real problem may not get fixed	p. 80
Consolidators may not help as much as you hope	p. 80
Not all consolidators are good consolidators	p. 82
Last Hope: Filing Bankruptcy	p. 83
Your Best Bet: Avoid Bankruptcy	p. 83
Who Benefits from Bankruptcy?	p. 85
Understanding Which Debts Are Dischargeable and Which Are Nondischargeable	p. 86
Looking at the Types of Bankruptcy	p. 87
Chapter 7	p. 87
Chapter 13	p. 90
Additional information	p. 91
Determining Whether Bankruptcy Is for You	p. 92
Changing Your Lifestyle to Avoid Debt	p. 95
Altering Habits	p. 95
Avoiding Temptation	p. 97
Stay out of temptation's path	p. 97
Practice contentment	p. 99
Finding New Interests	p. 100
Getting Beyond Yourself	p. 101
Thinking Long-Term	p. 102
Pursue further education	p. 103
Change jobs or careers	p. 103
Relocate	p. 105
Keeping Your Goals Fresh	p. 106
Update	p. 106
Restate	p. 106
Celebrate	p. 107
Finding Support	p. 107
Working toward a More Secure Future	p. 108
Pursuing information	p. 108
Starting to save	p. 109
CliffsNotes Review	p. 111
CliffsNotes Resource Center	p. 114
Books	p. 117
Internet	p. 115
Send Us Your Favorite Tips	p. 116
Index	p. 117
Table of Contents provided by Syndetics. All Rights Reserved.