Stuff for the Spirit

A pawnbroker makes loans on personal property left as collateral.
The property can be redeemed when the loan plus interest is repaid.

The interest rates for pawnshops, which may be regulated by state or local
laws, may range from 5% to 6% a month. Loans can usually be renewed, but
only if the interest for the original period has been paid.

Pawnbrokers will accept a variety of personal property as collateral.
Usually, items that are small or of modest value (jewelry, clocks, computers,
camcorders, silverware, etc.) Brokers won’t lend more money than they think
they can get if the pledged item is not redeemed and has to be sold.

When a pledged item is not redeemed, brokers are required to notify pawners
that the loan period has expired and to give them a final opportunity to
redeem their personal property before the broker has the right to sell the
item. In some jurisdictions, brokers may keep all the money received from
the sale of the unredeemed pledge. In other cases, the broker may only keep
the original loan and any interest due, but must turn any excess over to the
pawner.

In many states, pawnbrokers are required by law to file with the local police
a daily list of items that have been pledged. They must report and give a
description of the object along with serial number and other points of
identification.

This gives the police an opportunity to check these pledge items against any
list of reported stolen items. In somebody buys a stolen item from a
pawnbroker, it must be returned, and the broker must refund the purchase
price to the customer.

DEBT LIMIT. Installment debt should not exceed 10% of take-home pay. A debt
ratio of 20% indicates trouble ahead. However, when computing for your debt
ratio, you must not include mortgage payments in the amount of debt.

Collecting money owed to you

If you are owed money and have not received any payment over a reasonable
period of time, there are several steps you can take to collect, even
before going to the expense of hiring a collection agency or lawyer.

While making these moves, you can collect evidence in case it becomes
necessary to take the matter to court.

CALL THE DEBTOR

This method, handled properly, can have surprisingly successful results.
For best results, have another person of the line to witness the
conversation. In case the debtor denies the call, you have a witness
who can testify otherwise.

WRITE THE DEBTOR
Write a letter that confirms and reviews all the pertinent points of the
telephone conversation. The goal is to make your letter clear enough to
make it stick in court.

IF THE DEBTOR IS A BUSINESS
File a complaint with the BBB or the trade organization in which the
debtor is a member. Make sure you stick to the facts in order to avoid
being sued for libel.

Stop paying property taxes

The way to do this is to sign over the title of your home to your non-profit organization that you form.  You can form your own church or organization and apply for the tax-exempt status at your county courthouse.

Or, you can sign over the title of your home to your local church or other non-profit organization if you do not wish for it to go to your heirs.  Under this arrangement, you retain lifetime habitation rights although the property belongs to the local non-profit organization.

The way to do this is to sign over the title of your home to your non-pr€

Establish Good Credit

To work this plan you need at least $400 to begin establishing your credit.  You should borrow this from your friends if necessary.  Then go to a bank of your choice and deposit the $400 into a regular passbook savings account.

Wait a few days for the account to be posted and return to the bank to ask for a $400 loan - you offer the passbook as collateral.  Since the bank is already holding your $400, you go to another bank open a savings account lending you another $400 and they won’t even make a credit check.  Then, with your borrowed $400, you go to another bank, open a savings account, return a few days later, borrow $400 from that bank using your passbook as collateral.

Then repeat the process at a third bank with your borrowed $400.  Wait a few days to go to a fourth bank where you open this time a CHECKING account.   Wait a few days and make a payment on each of the other three loans.  A week later, make payments again on the three loans, and continue paying each week until you have almost paid off the balance.

A credit investigation at this point will show you with three active bank loans (which are considered hard to get), a checking account, and a paying history for the three bank loans - with you having paid up in advance.  Thus, you have AAA credit in as little as 30 days.  From here you go on to apply for loans, credit cards, and other items on credit.ff the balance.