The Crisis Starts When...


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Finding solutions to credit crisis through communities.

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The Crisis Starts When...

  1. c r i s i s starts when …
  2. What happened to those grand plans for our future ?
  3. Will we be able to return it?
  4. Time To Seek Help What should you do? You need a clear picture of your financial standing.
  5. Make this Debt List. NOW! Debts Minimum Payment Rates of Interest Outstanding Amount Mortgage Auto loan Credit card 1 Credit card 2 Credit card 3 Other loans
  6. Calculate Your Disposal Income Look through your “Debt List”. Pay the higher interest rates debts. Do this Amount Note 1) Total up Income From all sources 2) Minus Expenditure Needs not wants 3) Pay Debt Disposable Income Keep some for unexpected expenses.
  7. Stick To Your Budget <ul><li>Essential Expenses </li></ul><ul><li>food </li></ul><ul><li>clothes </li></ul><ul><li>housing rent </li></ul><ul><li>electricity </li></ul><ul><li>gasoline </li></ul><ul><li>education fees </li></ul><ul><li>health </li></ul><ul><li>Non Essential expenditures </li></ul><ul><li>What can you cut off or </li></ul><ul><li>lower substantially till you </li></ul><ul><li>become debt-free? </li></ul><ul><li>Restaurants? </li></ul><ul><li>Movies? </li></ul><ul><li>video games? </li></ul><ul><li>Parlors </li></ul><ul><li>gifts, snacks, etc? </li></ul>
  8. Stay eligible for loan approvals <ul><li>MAINTAIN </li></ul><ul><li>Good Credit Report </li></ul><ul><li>Once a judgment enters your credit report, </li></ul><ul><li>Financial credibility </li></ul><ul><li>it stays there for 7 to 10 years. </li></ul><ul><li>WORK ON </li></ul><ul><li>Debt Reduction Plans </li></ul>
  9. <ul><li>Credit Cards issuing banks </li></ul><ul><li>Some facts: </li></ul><ul><li>Remember that free gift you received after signing up for a credit card? </li></ul><ul><li>Competition is intense. </li></ul><ul><li>It cost them to find new customers. </li></ul><ul><li>They want to keep you! </li></ul>
  10. <ul><li>Are you behind on your </li></ul><ul><li>Credit Card Debts? </li></ul><ul><li>Convince your bank to </li></ul><ul><li>lower your interest </li></ul><ul><li>rates. </li></ul>Reduce or take this back!
  11. Make a Balance Transfer? Get a Debt Consolidation Loan? Know the “Annual Percentage Rate” (APR) Pick one with the lowest APR. 10% rate means you’ll pay $10 per $100 you borrow annually. Compare APR: 10% 18% 20% Check the Annual Percentage Rates (APR). It is a good standard for comparing the percentage costs on different loans given by banks. Are there balance transfer charges?
  12. <ul><li>It’s a process to eliminate your outstanding debts for less than the amount actually owed to the creditors. </li></ul><ul><li>Why should creditors accept this payment? </li></ul><ul><li>You are a few months behind with your payment. </li></ul><ul><li>Creditors need not spend money for collection. </li></ul><ul><li>They don’t want to sell your account to collection agencies at a much lesser price. </li></ul>What about making a debt settlement ? Payment of 40% - 60 % of your original amount
  13. <ul><li>You are at this stage: </li></ul><ul><li>You have stopped paying your monthly installments to your creditors for a few months. </li></ul><ul><li>You have saved at least 50% of the total amount outstanding. </li></ul><ul><li>You have to: </li></ul><ul><li>negotiate with your creditors for a settlement. </li></ul><ul><li>record the terms and conditions of the agreement taking place between you and your creditors. </li></ul><ul><li>maintain accurate information related to your debt account. </li></ul><ul><li>learn to write letters with proper information. </li></ul>Debt Settlement For it to work Objective: Not to be declared a bankrupt!
  14. Taking up another financial obligation? What’s your purchasing power ? Calculate your debt to income ratio: Monthly Debt ÷ Monthly Income 37% to 40%: High debt-to-income ratio. Above 50%: Living on the edge! Assess your financial health first before you spend! Feeling much better? Don’t put yourself through another financial stress.
  15. Remember how you got into this mess . illness? divorce? sudden loss of job? overspending? It t he Joneses’ fault?
  16. The wedding of the year? Let’s go for the best retirement plan for our golden years. A bigger house? We can upgrade when the time is right. Get the latest, again? I am comfortable with what I have. A dream holiday? Not now. We can save for it. Work harder. Get a scholarship. Study overseas? The unexpected. Let’s save for that. Chang your attitude. T he Joneses are as broke as you are.
  17. I need more information. Where can I go?
  18. This is where I discovered the solutions for clearing debts. Heard of debt free community? It’s a place for debt struck people to seek help.
  19. Been there done that! I share my experiences. Read my postings on the forums. Some of my articles may help you. Who are they?
  20. They are Community Members Ask us a FREE question
  21. Join to ask for help… … or share experiences.
  22. Found <ul><li>Gain some cash to settle your debts: </li></ul><ul><li>Post your (sob) story for publication and get rewarded </li></ul><ul><li>Be rewarded $500 for posting good videos ($ rated not X). </li></ul><ul><li>Win a prize of $1000 for community review in local newspaper. </li></ul><ul><li>Start your own blog with DebtCC and make money. </li></ul><ul><li>WOW! Get in the Hall of fame. </li></ul><ul><li>Get rewarded for sharing. </li></ul><ul><li>Become an official DebtCC FAQ Maintainer </li></ul>
  23. You don’t have to sign up to check them out. Could this be a scam?
  24. <ul><li>Learn to </li></ul><ul><li>do it yourself </li></ul><ul><li>Use its Debt Calculator . </li></ul><ul><li>Read their Sample Letters . </li></ul><ul><li>Read some articles . </li></ul><ul><li>Join their forums . </li></ul><ul><li>Comfortable? </li></ul><ul><li>Sign up to post </li></ul><ul><li>Questions. </li></ul>Explore and Experience
  25. Think you can do better than that? Appreciate what you read?
  26. Question of the Month How do you control stress at the time when you are trying to get out of debt? Funds from answering “ Question of the Month” Winners will be awarded $50.
  27. Or join as a Debt Samaritan Club volunteer My calling is to rescue the debt struck people from the clutches of debt.
  28. <ul><li>Want to be a </li></ul><ul><li>Debt Samaritan? </li></ul><ul><li>Do you answer to these requirements: </li></ul><ul><li>Relevant knowledge . </li></ul><ul><li>Prior experience. </li></ul><ul><li>Should have made 100 posts in the Debtcc forum. </li></ul><ul><li>Send in request with: </li></ul><ul><li>URLs of top 10 posts </li></ul><ul><li>of informative topics and useful answers </li></ul><ul><li>you have made on Debtcc </li></ul><ul><li>to anyone in the community </li></ul>
  29. BE A STAR Post in the forums. Gain some points. 1000 points=$10 CASH IT Help Debtcc Members in need. be a SUPERSTAR Give away some points.
  30. The Credit Crisis <ul><li>Answers and solutions can be found on: </li></ul><ul><li>SlideShare: The Credit Crisis in 30 Slides Contest Entries </li></ul><ul><li> </li></ul><ul><li>Yes Debt Free – A Debt Consolidation Community </li></ul><ul><li> </li></ul><ul><li>Debt Consolidation Care </li></ul><ul><li> </li></ul><ul><li>Created by: </li></ul><ul><li> </li></ul><ul><li>with thanks to MS Clipart artists discovered </li></ul><ul><li>WHAT WOUD INSPIRE YOU TO ACT? </li></ul>