Jean Chatzky Quotes - Page 2

• Don't let the fact that you're spending time getting organized result in late fees on your credit card bills.

  Jean Chatzky

  Cards, Credit, Bills

  Jean Chatzky (2008). “Make Money, Not Excuses: Wake Up, Take Charge, and Overcome Your Financial Fears Forever”, p.92, Crown Business

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• Te retrasas un poco en el pago de una factura de la tarjeta de crédito, el tipo de interés se dispara, el pago mínimo aumenta y empiezas a retrasarte más y más cada mes. No ves el final. Pero tampoco quiere declararse en quiebra. Lo que puedes hacer -y deberías hacer- es negociar.

  Jean Chatzky

  Fall, Cards, Credit

  Fuente: www.nbcnews.com

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• If you are able to settle, you'll be getting off rather easy. Debt settlement companies can sometimes get you off the hook for a large percentage of your debt - in many cases, up to 50% will be written off.

  Jean Chatzky

  Hook, Debt, Able

  Fuente: www.nbcnews.com

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• Pay cash. For some reason, it's harder for people psychologically to part with their cash than it is to swipe a card. Maybe it's the act of physically seeing the money change hands, or maybe it's because you don't want to break a $20 for a $2 cup of coffee.

  Jean Chatzky

  Coffee, Hands, People

  Fuente: www.nbcnews.com

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• You settled a debt instead of paying in full will stay on your credit report for as long as the individual accounts are reported, which is typically seven years from the date that the account was settled. Unlike with bankruptcy, there isn't a separate line on your credit report dedicated to debt settlement, so each account settled will be listed as a charge-off.

  Jean Chatzky

  Years, Long, Credit

  Fuente: www.nbcnews.com

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• If you're filing bankruptcy, you will likely want to hire an attorney. But for debt settlement, a company is sufficient, or as I said, you can often do the legwork on your own.

  Jean Chatzky

  Debt, Want, Said

  Fuente: www.nbcnews.com

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• Sometimes a creditor is willingto do this as a bargaining point - you give the creditor cash in hand, it gives you a positive listing on your credit report - even though you haven't paid the full amount. Get this agreement in writing.

  Jean Chatzky

  Writing, Agreement, Hands

  Fuente: www.nbcnews.com

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• Save for your goals. Take note of what's coming your way - vacations, the holidays, what ever is going to cost you money - and start saving ahead of time so that you have a stash when the time comes.

  Jean Chatzky

  Holiday, Vacation, Goal

  Fuente: www.nbcnews.com

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• Even in the days of the tightest credit in 2008, HELOCs [ home equity line of credit ] and home equity loans were being made.

  Jean Chatzky

  Home, Credit, Lines

  Fuente: www.nbcnews.com

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• Si es así, la consolidación a un tipo de interés más bajo puede ayudarle a saldar su deuda más rápidamente. Pero si hay una mínima posibilidad de que vuelvas a endeudarte, no es para ti.

  Jean Chatzky

  Debt, Pay, Helping

  Fuente: www.nbcnews.com

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• Debt settlement companies work as a middleman between you and your creditor. If all goes well (and that's a big if), you should be able to settle your debts for cents on the dollar. You'll also pay a fee to the debt settlement company, usually either a percentage of the total debt you have or a percentage of the total amount forgiven.

  Jean Chatzky

  Dollars, Debt, Pay

  Fuente: www.nbcnews.com

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• If you have even a smidgen of doubt that you'll be able to stay away from racking up additional debt, don't do it.

  Jean Chatzky

  Doubt, Debt, Able

  Fuente: www.nbcnews.com

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• When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.

  Jean Chatzky

  Home, Cards, Credit

  Fuente: www.nbcnews.com

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• If you default on an unsecured debt, you won't lose anything (except points on your credit score).

  Jean Chatzky

  Credit, Debt, Default

  Fuente: www.nbcnews.com

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• You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.

  Jean Chatzky

  Home, Needs, Cards

  Fuente: www.nbcnews.com

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• Una consolidación sólo tiene sentido si puede reducir su tipo de interés global. Muchas personas consolidan sus deudas pidiendo un préstamo sobre el valor neto de la vivienda o una línea de crédito sobre el valor neto de la vivienda (HELOC), refinanciando una hipoteca o pidiendo un préstamo personal. A continuación, utilizan esta deuda más barata para pagar deudas más caras, con mayor frecuencia préstamos de tarjetas de crédito, pero también préstamos para automóviles, préstamos privados para estudiantes u otras deudas.

  Jean Chatzky

  Home, People, Cards

  Fuente: www.nbcnews.com

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• You'll get much better results by being upfront, answering creditors calls, and responding to their letters. Delaying the inevitable only digs a deeper hole.

  Jean Chatzky

  Letters, Holes, Results

  Fuente: www.nbcnews.com

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• You won't be caught off guard and you won't feel guilty, because you'll be spending money that you've allocated for the occasion.

  Jean Chatzky

  Guilty, Spending, Caught

  Fuente: www.nbcnews.com

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