Here are another 10 Financial Tips about how I view the financial world and that you can significantly benefit from.
The credit rating system is “anti-consumer” because it is irresponsibly, immorally, unethically, illegally and deliberately designed by Wall Street to drive consumers into a subprime credit status which decreases credit scores. These decreases in credit scores cause further and further U.S. economic deterioration because they increase consumer expenses and decrease consumer disposable income as a result of higher interest rates and fees.
The credit rating system should be abolished, or at very least properly restructured. But the government of the United States takes no action accomplish these things because Wall Street, comprised of the lending, insurance and investment industries, make massive amounts of contributions to the political system. Simply stated, Wall Street owns the U.S. government despite occasional conflicts that are deliberately created and give the illusion that government is properly overseeing corporate America.
Identity theft is also “anti-consumer” because it can result in decreasing credit scores which, as I have already indicated, can increase consumer expenses and decrease consumer disposable income.
It should not take a “third party” who charges consumers money to protect them from identity theft. Proper government oversight of the lending, insurance and investment industries, who make consumer borrowing possible, should be mandated to provide identity theft protection rather than an external third party.
Financially struggling Americans must accept the fact that the U.S. government and corporate America are not going to save them. They must take steps in order to save themselves. There are 7 Steps that they can take in order to financially and psychologically survive. These steps can be found in my Economic Tips For October 2013 article that is in the blog section of PhilMitschForAmerica.com and the National Examiner, who carries my economic, real estate, financial and motivational tip articles as well.
Financially struggling consumers should never hesitate to try and negotiate lower interest rates and payments directly with credit card companies. Many of these companies will consider reducing rates, payments and principal balances if they know that a struggling consumer will potentially have to use the legal process to 1) modify debt or 2) file some type of bankruptcy if they don’t agree to provide financial relief.
Keeping credit report inquiries to a minimum can help increase credit scores. If consumers are not sure what type of inquiries increase scores and and which ones decrease them, then they need to get excellent financial advice as quickly as possible.
Using ATM cards only at reputable locations can help prevent identity theft.
Keeping good standing credit accounts open can potentially increase credit scores.
Consumers must be smarter than ever in order to financially and psychologically survive in today’s struggling U.S. economy because the Wall Street gang knows all the “financial secrets” to find their money and make it their honey. Hopefully a word to the wise should be sufficient.
Remember to look for my Financial Tips For October 2014 article in about four weeks.
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