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Denise Richardson

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· Give Me Back My Credit! (audio version)

· Give Me Back My Credit! (paperback)

· Shocking statistics for US student loan defaults in 2010

· Is your Facebook Friend a Digital Criminal?

· Choosing a secure password is key to avoiding identity theft

· Cancer patient's Identity Stolen by Lab Tech; Fighting For Justice

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The do's and don'ts of credit card teaser rate offers...

Arc Systems, a leader in automated underwriting software has launched the latest new tool on the market that promises to teach consumers how to better handle their credit card debt and better yet, how to beat creditors at their own game.


Mark Jones, Vice President of Debt Logistics a spin off of Arc Systems, announced the launch of and their new software program that claims to both teach consumers the complex accounting methods used by creditors and provide a plan of action consumers can utilize to get out of debt quicker.


Jones promises Debt Logistics will be an effective tool that will set them apart from the countless debt restoration and credit repair services currently heavily marketed to consumers. Without the need to supply personal information such as actual account numbers and names of financial institutions, consumers can plug in their current rates of interest, and balances due along with their actual current payment structures and quickly see how long it will take to pay off their debt.


But unlike other available calculators, this system comes equipped with a tutorial that provides easy to understand language that will show the user just how to use the low APR offers received from credit card companies in order to beat them at their own game. The system does all the strategizing and figuring for you.


According to Jones, “The credit card companies are not evil.  They simply have created the perfect business model.  They loan money to just about anyone that wants it, in a society whose hunger for consumption never seems to end.  They make their terms and agreements ambiguous (that's being polite), and the repayment of the cards so confusing that many financial planners and CPA's don't even know how the money is applied to the credit cards when you make your payments.”

Jones designed the system when he realized, like many of us, that even though he was paying three times his minimum payments on his credit card debt, it would still take three and a half years for the debt to be paid off completely.  He decided to investigate how this could be.


As we all know, most creditors apply different rates of interest to the debt we carry on any particular card. They calculate the interest rates on the debt by splitting them up into different categories; one rate for purchases, one for cash advances and the third for transferred balances. What most of us overlook is that any payments we make towards our balance is first applied to the category that carries the lowest rate of interest, and until that debt is entirely paid off, nothing gets applied to the remaining debt.


The result?


The remaining debt that carries the higher interest rate isn’t being reduced. And, that debt continues to be calculated at the higher rate of interest-thereby growing in size the amount of debt to be paid off. As is often the case, the consumer simply didn’t understand the complex accounting methods used by the creditor.


What differentiates Jones’ system from scams and/or the garden-variety debt repair, and debt restoration services, might just be in what Debt Logistics doesn’t promise consumers. They don’t promise to remove derogatory information from your credit report, nor do they promise to contact your creditors to “remove” or “repair” your credit reports. Rather, they offer you a tool to learn how creditors manipulate your interest rates, and show you through your own debt scenario, how best to optimize and handle your current debt; ultimately allowing you to pay it down quicker which in the end will raise that all important credit score and place you on the road to debt recovery. Overtime, the system promises to teach you how to handle future credit and best optimize your methods of payment.


Figuring out how to reduce our debt and raise our credit scores has always been confusing and mystifying. Our best resource is knowledge. Without the proper knowledge to best maintain our credit and debt we are often caught up a cycle of debt that never seems to go away –just as intended by those who profit most.


If you decide to test drive Debt, please let me know your opinion and results. I’ll tally the results and report back in a future article.


Considering the overwhelming number of foreclosures and the economic hardship created by massive amounts of unmanageable personal debt, a product that teaches people the optimal way to manage their current debt is worth taking a look at. 


Web Site Let me know what you think..

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Books by
Denise Richardson

Give Me Back My Credit! (paperback)

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Give Me Back My Credit! (audio version)

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