Like it or not, this country is entering in another recession, and yes, worse than the last one. We’re not gloom and doomers; we just like to keep it real with our clients. In November 2012, Credit Consulting Professionals was one of the few companies out there that was predicting hyperinflation. Hyperinflation is here, it’s already developing in 2013. Compare the gas prices in November 2012 and the gas prices now. Aren’t you paying over $1.00 more per gallon than you were this past November? Increasing gas prices and utilities are the first indicators of hyperinflation. Hyperinflation is an indicator of a weak U.S. dollar. The U.S. dollar will collapse third quarter 2014. The new recession will begin after hyperinflation is saturated into our economy and the new recession will progress even worse when the U.S. dollar collapses. So now what?
If you survived the last recession, chances are, you will survive the worst one ever. Protecting your credit and reducing your debt is the foundation of surviving any national crisis. Here are a just a few steps to help you maintain or trim your financial landscape:
Lower Your Debt: A good habit to start or continue is to utilize only 30% or less of your credit card limit, never go over 50% of your credit limit, this applies to business credit cards too.
Sell Your Non-Performing Real Estate Now: If you’re still on the fence about short selling your non-performing real estate, this year is the year to sell it. Example: A past client of ours short sold all his non-performing investment properties at one time. It was a smart decision from my past client, and also recommended by Credit Consulting Professionals to short sale all the distressed properties at the same time. My past client thanks us to this date; he saved thousands of dollars per month by eliminating his non-performing real estate. Also consider, more credit crunches and bank bubbles are right around the corner. Don’t believe it? Ask yourself, how much longer will banks hold onto their shadow foreclosure inventory and how fast can banks recuperate from their charge offs?
Buy a Fuel Efficient Car: If you’re driving a gas guzzler now, you are probably spending a lot of money on gas. You may want to trade in your gas guzzler for a fuel efficient car.
Don’t Buy Bonds: The “Bond Bubble” chatter is out, don’t be surprised, it’s just around the corner. If you own bonds, sell them now before it’s too late. Don’t wait and ride out the “bond bubble” market.
Fix Your Credit Now: If your credit is tarnished from the last real estate bubble, and would like to take advantage of today’s car sales and low housing prices, now is the time to repair your credit. Having good credit will save you thousands of dollars per year, even if you don’t plan to buy another home. Your credit is your tangible asset for life; it is attached to you forever.
Make Your Big Purchases Now: It’s challenging enough to get financed in this market. Before we have more credit crunches, purchase your home, your car, refinance your business loan and purchase distressed commercial real estate now.
We don’t steer our clients in the wrong direction. If you’re in the wrong direction, call us to put you on the right path.