Charles J. Phelan Profile and Articles

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1). The New Bankruptcy “Means Test” Explained in Plain English
With the new bankruptcy law in effect as of October 17, 2005, there is a lot of confusion regarding the new "means test" requirement. The means test will be used by the courts to determine eligibility for Chapter 7 or Chapter 13 bankruptcy. The purpose of this article is to explain in plain language how the means test works, so that consumers can get a better idea of how they will be affected under the new rules.

2). When Debt Collectors Cross the Line – Bogus Threats & Illegal Collection Tactics
If you are behind on your bills and on the receiving end of collection phone calls, you will probably hear collectors make some very threatening statements. While most debt collection professionals try to stay within the boundaries defined by the Federal Fair Debt Collection Practices Act (FDCPA), many others cross the line on a regular basis. In 2004, the Federal Trade Commission (www.

3). Debt Elimination Scams -- A Growing Problem for Consumers
Consumers seeking debt assistance are faced with a bewildering assortment of debt companies, services, programs, books, ebooks, and websites. How to tell the scams from the legitimate options? The purpose of this article is to help consumers easily spot and steer clear of one particular scam that is growing through network or multi-level marketing schemes.

4). Debt-to-Income Ratio –- It's Just as Important as Your Credit Score When Buying a New Home
Your debt-to-income ratio (DTI) is a simple way of calculating how much of your monthly income goes toward debt payments. Lenders use the DTI to determine how much money they can safely loan you toward a home purchase or mortgage refinancing. Everyone knows that their credit score is an important factor in qualifying for a loan. But in reality, the DTI is every bit as important as the credit score.

5). How to Quickly Improve Your Credit Score by Adding Positive Payment History to Your Credit Report
Most consumers are aware that negative items on their credit report can be disputed with the three major credit reporting bureaus. Often, this process can lead to a significant improvement in credit score through deletion of the damaging items that were lowering the score.

However, to achieve excellent credit, it's not enough to just remove negative entries.

6). Debt Settlement -- Why the Critics Are Wrong
A lot more people are becoming interested in debt settlement as an alternative to bankruptcy. That's because a new bankruptcy law was enacted on October 17, 2005, which means a rude awakening for many consumers seeking a fresh start in bankruptcy court.

It used to be that 7 out of 10 people filing personal bankruptcy were granted Chapter 7 status, where the unsecured debts are totally wiped away.

7). Commodity Futures Trading – Why It's Not For Average Investors
If you don't mind losing $5,000 in 10 minutes, you may enjoy trading commodity futures contracts. There's an old saying among commodity traders: "It's easy to make a small fortune in commodities. Just start with a large fortune!" This is not a business for people who are emotionally attached to their money, yet thousands of average "investors" get lured into the commodity markets year after year.

8). Debt Settlement, Debt Management, Debt Termination – What's the Right Choice?
When you're facing a mountain of credit card debt, the stress can be overwhelming at times. Collection calls, daily harassment, rude bill collectors, and nasty letters all add to an already intense situation. Consumers facing this kind of pressure naturally seek out the services of professional debt companies. But the search for reliable assistance can actually add to the stress! For example, just type in "debt help" on any search engine and you'll see page after page of results.

9). Budgeting: The Critical Flaw That Causes Most Budgets to Fail
Budgeting. It's a word we're all familiar with. Everyone knows what a budget is, right? Yet how many of us actually make and stick to a solid monthly budget? The truth is that most of us start out with the best of intentions, but an unexpected expense comes up and busts our budget. Then we give up and go back to juggling our finances and worrying about having too much month left at the end of the money.

10). The Credit Card Debt Termination Scam
"Legally terminate credit card debt! You can be debt-free in 4-6 months!" Advertisements like this are for a new type of program that has spread via the Internet over the past few years. It's called "Credit Card Debt Termination," and victims are paying $1,000s for this bogus service. One victim I spoke with lost more than $15,000! In this article, I'll review the principles behind this program and explain exactly why it's a scam to be avoided.

11). Credit Counseling -- Why It Doesn't Work For Most Debtors
"Cut Your Payments in Half!" the headline screams. "Consolidate Your Bills into One Low Monthly Payment!"

When you see ads like this, they are often from Credit Counseling firms. In this article, I'll explain the principles behind the Credit Counseling approach and discuss the main problem consumers face when they join one of these programs.

First, let's get our definitions straight.

12). Credit Cards for People With Bad Credit – How to Avoid Getting Ripped Off
If you've ever had credit problems, then you've probably received offers for credit cards aimed at people with bad credit. These offers range from legitimate to questionable to outright scams. How can you tell the difference?

The answer is to read the fine print, usually to be found in a document called "Terms and Conditions." To show you the difference between "the good, the bad, and the ugly" in the low-end credit card market, let's take a look at the fine print associated with such offers.

13). Debt Relief -- Why Most Programs Have A 75% Failure Rate
Debt consolidation, equity loans, credit counseling, debt management plans, even Chapter 13 bankruptcy – it doesn't matter which of these debt programs you're talking about. They all suffer from one fatal flaw, the number one problem that causes most people to fail at eliminating their debts through these techniques. Can you guess the problem?

It's probably not what you're thinking.

14). Business Opportunities – Why Pre-Packaged BizOpps Are Not Worth The Money
Pick up any "business opportunity" magazine at your local newsstand and you'll see a glossy attractive publication designed to attract people who are actively seeking ways to earn extra money, buy a franchise, or open a business of their own. After all, it's the American Dream to own your own business and get rich, right?

You've probably heard the old saying, "Most people are too busy earning a living to make any money.

15). The Many Benefits of E-Mail
There are many reasons to include e-mail as part of your marketing and customer service plans. The best chances of success with e-mail are to ensure you are delivering relevant, timely information to your customer at every stage of his involvement with your business.

16). Starting Your Own Online Business
You have racked your brain and finally hammered out all of the details for an online business. Now you are ready to get started, itching to have your first sale under your belt, but you find yourself scratching your head, wondering where to begin.

17). Search Engine Optimization - An Overview
The term "Search Engine Optimization," or SEO, has become a pronounced buzz term in Internet commerce. SEO is simply the process of improving the amount of volume, also known as traffic, to a website by placing it as high as possible in search results through a search engine such as Google, MSN, or Yahoo!.

18). Using Print Ads to Bolster Your e-Business
When you are developing the marketing plan for your business, there are many factors you must take into consideration.

19). E-Commerce: The 7 Mistakes I Made
Yes I can admit when I am wrong and make boneheaded mistakes, and I made plenty of them. I am writing this as a reference for anyone else that is considering diving into the wonderful world of eCommerce, feel free to learn from my mistakes.

20). Weight Loss: 10 Tips for the Average Joe
I began to do research into weight loss and pinpointed the things I was doing wrong in my first diet. There were certain things I had to learn in order to effectively lose weight and keep it off, here are 10 things you can do to help you achieve your weight loss goals.

21). The Arctic National Wildlife Refuge
The Arctic National Wildlife Refuge has been under great debate lately with the current energy crisis in the United States. Many believe that it is the answer to high oil prices but the preservation of the natural habitat is often overlooked.