DAVE RAMSEY SAID INFORMATION

I heard on Dave Ramsey today…

The question comes from a Twitter follower-
How long, will a Chapter 13 takes to affect my ability to buy a house?
Chapter 13 is a repayment plan where you repay your debts over a 5 year period of time.
At the end of 5 years your chapter 13 stays on the credit report another 7 years.
In order to gain financing through a bank you will be spending the next DECADE renting.
Additionally the failure rate of bankruptcy is between 60-70%. That is a shocking failure rate for something we consider ‘debt relief’.

Imagine you need a medical procedure to save your life. One option would be a medication you had to take the same time every day for 36 months. The second option is to undergo a surgery, with a failure rate of 70%. Which choice would you make?

Why Not Use a Commercial Bank?

Q. Why not use a commercial bank?

Take a visit to msnmoney.com and review the 2010 customer service hall of shame.

The commercial banks used to make decisions locally and it was about relationships and common sense.

Now they are made by an unknown and unseen person out of state. The result is that they have lost their soul and any connection you as a customer. Customers are treated like numbers instead of people. The customer service is out of country, bank fees are very difficult to reverse and no one in the branch can make a decision for an auto loan.

Worst customer service
Bank of America 34%
Capital One 31%
Wells Fargo 28%
Citibank 28%
HCBC 28%

The rating is from the customers from each of these banks. Find a credit union or regional bank and keep your money local. Austin likes to keep it ‘weird’, let’s keep it local too!

 Financial Infidelity

The term is ‘financial infidelity’. A spouse can be unwilling, irresponsible or downright unfaithful with finances. And when they do that they betray trust. It must be addressed or it will be repeated and I find that unfaithfulness as big as a ‘honey’ on the side to impact a relationship.Dave Ramsey has a course that takes both couples through planning budgets with humor and not creating blame. I highly recommend it. You can follow him on face book too, or listen to his radio broadcast or get good advice from a page of this site debthelpandanswers.com