You Need to Get Out of Debt - Paul Oster #5545
Summary: Credit repair expert Paul Oster comes on FSN to talk about the importance of paying off your debt\u2014especially in our current economy. Since stimulus checks are no longer being issued, it\u2019s time to re-acclimate and formulate a plan for debt free living. As rates go up, it will take people more money and a longer period of time to pay off debt. Once you create a plan to get out of debt, you\u2019ll wish you had started sooner. Tune in for more insight from Paul, and visit his website for credit repair resources and coaching. Highlights: -The stimulus has run out, and defaults on housing are going up -Early on in a down-turn, we see 30-day lates with payments -We have to give people a chance to re-acclimate to reality -Consumers need to pay attention to their household budget -Middle to lower income families are the ones who are going to get hit the hardest -This is not a housing crisis at all\u2014many factors have had a tremendous impact on all markets -The demand in housing is so high that it is driving prices through the roof -Most people in debt are not in a position to pay their current bills on time, and need to meet with a financial advisor -If we\u2019re going to get out of debt, where is the money coming from? It ultimately comes from cutting expenses Useful Links: Financial Survival Network Better Qualified