The Malachi Group

Here is a new opportunity for you to participate in learning how to "Master Your Money". There will be a class offered through Poway Adult School that Jerry will teach on February 7 and 14. Time is 9-11 a.m. Check out their website at powayusd.com
You can register online!
This is a great opportunity to get started fresh with your finances in the New Year!
You will receive helpful tips and advice, as well as the opportunity to build your own "planned spending program" for the coming year!
Sign up now!

For those of you that are struggling with high interest rate credit card loans; you may be able to negotiate with the credit companies yourself. It will take effort and persistence on your part to get through to the Collections department. Once there, have ready a breakdown of all your expenses, monthly and non-monthly. They will want to go over it with you. You will need to prove hardship but that you can meet a payment that you recommend which you can pay every month without being delinquent. Once they have asked about your income and expenses they will most likely offer you a negotiated payout, if and only if you have verification that you can make the payments. That verification is based upon the information you provide them and their calculations. Be prepared and know your exact answers before they start asking. Once they have reviewed your case and make an offer, be prepared to accept or decline immediately. In the last two weeks several of our clients have negotiated on their own and have seen dramatic drops in interest rates and payments. Factual example - an interest rate of 26.99% was reduced to 5.75% for five years.

Should you need assistance in preparing for the credit card negotiations our financial coaches will guide you in preparing a 'planned spending program' and have the exact instructions of how to reach the appropriate departments at the credit card companies to begin negotiations.

There are several worthwhile Consumer protection laws taking effective Jan. 1st, 2009, in California. We are thankful for these new laws and hope more will follow that will benefit consumers, especially in the credit card arena.

* Banks and other companies no longer can offer gifts to college students in return for completing credit card applications.

* Consumers will have new rights in placing freezes on credit reports, including requirements that companies comply within three days.

* Sweepstakes promoters cannot falsely claim someone has been singled out for participation, ask for money to receive a prize and send out "last chance" warnings that are untrue.