'freeze' your credit

[musclehead]

I'm going to look into this one for myself and thought I'd share. you can go the the three major credit reporting agencies and for a small fee you can freeze your credit. you will be the only one who can open a line of credit going forward, you won't need any of the identity theft agencies like life lock.

say your looking to buy a car and want to unfreeze your credit, it takes a reported 15 seconds after you log on and type in your password.  (it'll be a cold day in florida before I go back into debt) this is fairly new its only been around for 5 or so years.

[BigAl]

Just say no to debt.

That's what our forefathers strove to keep as a rule.

There's really no need for debt.

Rent till you save to buy and save a bundle.

I rented a trailer for 150 a month, then I bought a house.

The interest you would be paying on a house would be twice that much on a house.

And no upkeep or taxes on a rental.

Drive a ten year old car.

I drive a ten year old motorcycle and a 18 year old truck and love them both.

My newest car is 8 years old.

But my Big Screen is new.

I eat staek when I want it.

I go for a trip on the bike when I ain't workin.

Debt is a steady death to your financial life.

Recently had a windfall, but I was already out of debt when that happened.

If you can cut up your credit cards is the first thing I would do.

A trap for sure.

Refi to a fixed rate and stick to that house if you can.

Sell the new car if you can and get a good used car.

SUV's are 70% more likely to have a problems than a sedan.

Sedan is cheaper to operate.

But don't take my word for it.

Most of these came from Warren Buffett and he did all right

[musclehead]

found some reading from Clark Howard, this isn't something for a person who constantly opens new credit but for the average person it should work fine.

http://www.clarkhoward.com/news/clark-howard/personal-finance-credit/credit-freeze-and-thaw-guide/nFbL/

[musclehead]

Just say no to debt.

That's what our forefathers strove to keep as a rule.

There's really no need for debt.

Rent till you save to buy and save a bundle.

Drive a ten year old car.

I drive a ten year old motorcycle and a 18 year old truck and love them both.

My newest car is 8 years old.

But my Big Screen is new.

I eat staek when I want it.

I go for a trip on the bike when I ain't workin.

Debt is a steady death to your financial life.

Recently had a windfall, but I was already out of debt when that happened.

If you can cut up your credit cards is the first thing I would do.

A trap for sure.

Refi to a fixed rate and stick to that house if you can.

Sell the new car if you can and get a good used car.

SUV's are 70% more likely to have a problems than a sedan.

Sedan is cheaper to opeate.

more and more people are doing this, as Dave Ramsey sez 'you go to bed with snakes expect to get bitten'. more people last year used green for Christmas shopping then credit first in many years.
we the people need to get our own financial houses in order, maybe congress will follow our example.......   sorry I crack myself up sometimes   

[..]

I'm going to look into this one for myself and thought I'd share. you can go the the three major credit reporting agencies and for a small fee you can freeze your credit. you will be the only one who can open a line of credit going forward, you won't need any of the identity theft agencies like life lock.

say your looking to buy a car and want to unfreeze your credit, it takes a reported 15 seconds after you log on and type in your password.  (it'll be a cold day in florida before I go back into debt) this is fairly new its only been around for 5 or so years.

Did it a few years ago. No problems (fingers crossed)

We should all get our free credit reports as well where available. You can get one from each of the big 3. So get one every 4 months to keep an eye on things.
 
http://www.clarkhoward.com/news/clark-howard/personal-finance-credit/free-credit-report-info/nFbJ/

Come on DON'T BE LAZY JUST DO IT.

[BF]

  (it'll be a cold day in florida before I go back into debt) 

Acutally, that happens here alot more than you might think (the blue stuff is snow.....really).......

[Tropic traveler]

 (it'll be a cold day in florida before I go back into debt)  

Acutally, that happens here alot more than you might think (the blue stuff is snow.....really).......

BF, I remember that day very well. I am just east of the OCF in the blue! It sucked, killed 3 of my palm trees in the back yard. I hate the winters up here.  

Anyways.... We got totally out of debt last year when the dealership I worked for was sold. We now owe nothing... nada... zip... zero & it will stay that way!
Debt is a life killer, eliminates your choices, restricts your freedom.
Avoid or keep it as low as possible!

[vanagon40]

Debt is a life killer, eliminates your choices, restricts your freedom.
Avoid or keep it as low as possible!

Damn, wish I'd have thought of that before I bought the four bedroom house for my family to live in.  I'm sure my wife and four children would not have wanted us to have a "life killer, eliminat[ing] []our choices, restrict[ing] []our freedom."  Should have just used our available cash and lived in box truck or panel van.  And it would have made it a lot easier to change school districts.

[Chattanooga Mark]

I think companies like Lifelock essentially freeze your credit as well.

Thank you for the post,

Mark

[Tropic traveler]

Debt is a life killer, eliminates your choices, restricts your freedom.
Avoid or keep it as low as possible!

Damn, wish I'd have thought of that before I bought the four bedroom house for my family to live in.  I'm sure my wife and four children would not have wanted us to have a "life killer, eliminat[ing] []our choices, restrict[ing] []our freedom."  Should have just used our available cash and lived in box truck or panel van.  And it would have made it a lot easier to change school districts.

I was speaking of credit card or frivilous debt such as new cars when a good 5 y.o. used one will do etc.
I kinda thought that was understood. 

[Westernbiker]

Nowadays, simply put and for the majority, if you are not in debt, you have nothing!

[Cruzen]

Just say no to debt.

That's what our forefathers strove to keep as a rule.

There's really no need for debt.

Rent till you save to buy and save a bundle.

I rented a trailer for 150 a month, then I bought a house.

The interest you would be paying on a house would be twice that much on a house.

And no upkeep or taxes on a rental.

Drive a ten year old car.

I drive a ten year old motorcycle and a 18 year old truck and love them both.

My newest car is 8 years old.

But my Big Screen is new.

I eat staek when I want it.

I go for a trip on the bike when I ain't workin.

Debt is a steady death to your financial life.

Recently had a windfall, but I was already out of debt when that happened.

If you can cut up your credit cards is the first thing I would do.

A trap for sure.

Refi to a fixed rate and stick to that house if you can.

Sell the new car if you can and get a good used car.

SUV's are 70% more likely to have a problems than a sedan.

Sedan is cheaper to operate.

But don't take my word for it.

Most of these came from Warren Buffett and he did all right

That is my way of living also.
 

[hotglue #43]

Dept free is GOOD!!!!!!
  Have been so for 20 years.  We use credit cards for EVERYTHING..... just pay them off at the end of the month.  No intrest that way.... I'm sure the credit card companies don't like me..LOL
  WE do have a freeze on our credit..... we had our identity stolen a few years back.... what a PITA!!!!!!!

[musclehead]

Debt is a life killer, eliminates your choices, restricts your freedom.
Avoid or keep it as low as possible!

Damn, wish I'd have thought of that before I bought the four bedroom house for my family to live in.  I'm sure my wife and four children would not have wanted us to have a "life killer, eliminat[ing] []our choices, restrict[ing] []our freedom."  Should have just used our available cash and lived in box truck or panel van.  And it would have made it a lot easier to change school districts.

I'm in debt for my house, got a little left on my pick up, owe capital one WAY too much. ( can't wait til they aren't in my wallet )

you can do it the debt free way to buy a house, most people don't/won't. keep your other debts to non existent and your credit rating will make getting a house much easier. people point at you and say funny things about you when your debt free. (there goes Big AL, he doesn't owe anybody anything what a weirdo!  )

I got talked into the credit card things back when I was young and dumb. not any more.

[Tropic traveler]

Someone told me a long time ago not to buy anything on credit that won't outlast the payments.
I guess they mean don't charge food, gas, supplies, etc on credit. If you buy a car, bike, or major appliance be sure it will outlast OR you will keep it past the loan duration. Don't trade in a major purchase untill after it's paid off.
Kinda makes sense. I've seen a lot of people roll what they owe on a trade-in vehicle into a shiny new "gottahaveitmobile" & get a mortgage size payment for their trouble.  ???

[valkmc]

Someone told me a long time ago not to buy anything on credit that won't outlast the payments.
I guess they mean don't charge food, gas, supplies, etc on credit. If you buy a car, bike, or major appliance be sure it will outlast OR you will keep it past the loan duration. Don't trade in a major purchase untill after it's paid off.
Kinda makes sense. I've seen a lot of people roll what they owe on a trade-in vehicle into a shiny new "gottahaveitmobile" & get a mortgage size payment for their trouble.  ???

This is how I do it, being a school teacher I have to use credit once in a while, not often. I always buy cars and bikes I keep long after they are paid for, which allows me to save for the next one while riding the paid for one. Will use a credit card once in a while but always pay them off as soon as possible most of the time the same month. I drive a 13 year old Jeep and a new bike which I put down half of and will pay off long before the loan expires.

[Russell Rice]

credit cards are the DEVILS work IT is simple, if you can not afford it, DON'T buy it I drive a 17 year old car, a 10 year old truck and a 12 year old motorcycle. Every thing I own is payed for except my house and it is 30 years old.....

[Cruzen]

credit cards are the DEVILS work IT is simple, if you can not afford it, DON'T buy it I drive a 17 year old car, a 10 year old truck and a 12 year old motorcycle. Every thing I own is payed for except my house and it is 30 years old.....

Kind of makes you feel good when everyone is complaining about loosing this or that to a creditor to know that you have security and nobody can come and take it away from you.  That is how my parents lived and how I have lived with the exception of my second wife...  But that's a different story....

[musclehead]

Nowadays, simply put and for the majority, if you are not in debt, you have nothing!

buuuut if your in debt for what you own, the bank owns it not you.