Alex and James welcome Mike Hobbs from Mortgage Solution Now (MSN). They discuss the bail out program that is being discussed in the news now. They emphasize the importance of getting help now and avoid waiting for assistance from the government because not everyone qualifies for the help from the government. Mike talks about the difference between the bank who issues the loan, and the actual servicer of the loan.

Alex, James and Mike talk about who qualifies for a loan modification. What situations are ideal for a loan modification. If you have previously been denied for a loan modification, what should you do.

Mike Hobbs, Mortgage Solution Now
Mike@UseIMS.com
www.MortgageSolutionNow.com.

Alex, James and Mike talk about the proposed $700 Billion Bail Out Plan. Alex describes the truth behind the Bail Out plan and what type of help it really offers. They emphasize to start doing your research now.

Alex invites EVERYONE to the FREE seminar to teach people how they can save their homes, how to get out of debt, and how to become financially stable. To get on the list to join: Email:
Mike@UseIMS.com

Location:
295 Willis Ave
Camarillo, CA 93010

Alex, James, and Mike continue their conversation about loan modification and the proposed bail out plan. Mike@UseIMS.com

Don't forget to sign up for the Debt Free Hour Newsletter at ourHome Page. Alex introduces Gerri Detweiler who joined them via telephone from Florida. Gerri talks about the the consumers who aren't receiving the help they need fast enough. She explains that it is important that consumers get help now and not to wait for the rescue plan to help. She also talks about a book she recently released, "Stop Debt Collectors" and what it talks about. Gerri discusses the misleading information that companies are providing.

Gerri speaks about the importance of keep a log of phone calls that you get from creditors who are trying to collect on a debt. Keep the letters you receive along with the letters. Gerri also explains what creditors can and can NOT do to collect on a debt like calls at work, harrassing phone calls, suing your employer. Basic things to do when talking to a debt collector: Do not give your life story, ask them to follow up in writing, and don't admit that you owe the debt.

Alex, James and Alex continue the discussion regarding what to do when speaking to a debt collector such as NOT to give your account number to automatically take money out of your bank account. Also pay attention to the statute of limitation which is the time amount that a creditor can collect on on a debt.

You can get Gerri's book Stop Debt Collectors at www.Credit.com/StopDebtCollectors.

Alex, James, and Gerri continue their discussion about illegal practices that some debt collectors use to collect on debt, and tactics that you can use to stop the harassment such as asking the collector if you can begin recording the conversation. Again, you can get Gerri Detweiler's book Stop Debt Collectors at www.Credit.com/StopDebtCollectors.

Alex and James discuss everyday things to look out for. e.g., Signing the back of your credit cards, online banking, shopping boosts mood, chipped credit cards, etc.

Loan Modification. Chris explains what IMS concentrates on, who they can help and what they can do. With the mortgage industry in the downward slope, many Americans are in trouble of losing their home. Loan Modification is an option to keep you in your home and out of a foreclosure. IMS is a performance driven company. No charges until a signed modification is presented.

(805)278-0616
chris@useIMS.com
www.mortgagesolutionnow.com

Don't prejudge yourself. Everyone is capable of getting a loan modification. The people at IMS are professionals and have business relationships with the banks and know what it takes to get a loan modification done.

Pay Option ARM loans are now negatively amortizing and borrowers now owe more than the initial balance of the loan. If you are struggling to keep your home, IMS can help. James also give the 7 bad Borrowing Behaviors: Payday loan, car title loan, tax refund anticipation loans, buying stock on margin, cosigning a loan, wedding loan, home equity loans.

James and Alex welcome Bob Allen with KadyTV.com who are now broadcasting the Debt Free Hour on the Financial Channel of KadyTV.com. Bob discusses the future plans of KadyTV.com.

James and Alex review last week's show. They discuss that the government may completely do away with 0% interest rates on credit cards. They also do The Weekly Drill that explains the 5 Debt Options and helpful websites.

Don't sign the back of your credit card. Write "Check ID" to encourage the stores to check picture ID. Warnings of Online Banking, using debit cards, shopping because of depression, and an increase in charge-offs.

Alex and James talk about Debt Stacking, the two strategies to follow: the most effective or the most efficient. They discuss the number one issue regarding debt. Paying it off and working on getting rid of it NOW.

Register for our FREE Monthly Newsletter on our Home Page. Alex and James review last week's show including their discussion with Detective Mike from Opt Out Detectives. You can find the weekly drill of helpful websites and the 5 basic options to get out of debt.

Alex and James discuss many topics during this segment: finances with Alzheimers, the use of floating checks, and the use of credit cards and fast food. Alex explains renting v. owning your credit score.

Alex continues his discussion about Renting v. Owning your credit score. He describes the effects and overall picture when consistently making minimum payments.

Alex and James discuss Listener Emails. The first email is about a single mother building more debt because of impulse buying. The second email is about a couple that earns an annual income of $120,000 and $47,000 in credit card debt. Should they pay it off with a loan with an interest rate of 10.9%. Listen now to hear the answers.

Our hosts review last week's show. They briefly discuss phishing, credit card changes and things to pay attention to to avoid negative effects to your credit score.

Alex explains "phishing" more in depth. What it is? What to look for if you are suspicious about a phone call or email. Creditors are also starting to send out "Nicer Naughty Notices" to adjust to our slumping economy and have also started giving the early morning call to catch you off guard. Both helpful websites and the 5 Basic Options to get out of debt are given. James explains using piggybacking as a way to immediately improve your credit score.

James and Alex discuss what makes it difficult to pay off your debt and how the creditor's divert your attention from your overall debt amount to your credit score. Again, life happens and if you keep paying the minimum payments, it can take you far longer to pay off your debt since the balance never decreases. James offers more tips and strategies to help you with your debt including note modification and when and when not to use it.

James talks about the sneaky credit card tricks and how to beat the bank: Closing Date Mind Crunch, Overlimit Limbo and Sock Drawering.