Ways to avoid the credit card issuer from suing you

What will you do if you can't pay your credit card bills? Don't you think, the credit card company can sue you? Yes, the credit card company may sue you. But, normally the credit card issuers avoid this type of circumstance to arise. I would suggest you or make you aware of some facts regarding this credit lending:

• When you apply for a credit card, there you will find many hidden facts, which you should always go through those in details, esp. the terms and conditions. When you accept the agreement, it signifies that you agree to pay back the principal amount which you have borrowed along with the interest (which may include additional charges and fees).
• If you fail to pay the payments, then you are breaking the rules of the agreement. This may lead to increase in your incoming calls to your phone and emails to your mail inbox from the credit card issuer. This may even lead to involvement of the credit collection agency.
• It would be a very bad time for you if you find the credit collection agency getting involved. The consequence: hike in interest rate, access to available credit will be limited, increase in phone traffic due to the calls from the credit issuers and co-signers may be contacted.
• How will you avoid these above mentioned circumstances? Suggestion from my side: be more responsible with your credit, before accepting the credit card agreement, don't forget to go through the terms and conditions, if you feel that there is any error in your credit card statement, feel free to contact your credit card issuer immediately.
These are my suggestions to help you in avoiding the circumstance of being sued by the credit card agency. Try to follow and I am sure you will be able to make your payments on time. I suggested you these from my experience of how I carry my credit card.

An overview of 529 College Savings Plan

We all have heard about 401(k) savings plan for retirement. Here I am going to tell you about another interesting plan; a 529 savings plan for college. You don't have to go to your employer to implement this plan, you can do it yourself. This savings plan is sponsored by state and it is going to help you save in a tax-free way for tuition in any college or university in the country. One thing I need to mention to you or beware you "please don't utilize these funds for non-college-related purposes, or else you need to pay penalties and owe taxes".

You can also gain a tax advantage of 529 plan, you don't have to pay any amount of tax for withdrawals done for college tuition and other college related expenses. You should start thinking about this college savings plan since your kids were in nursery. I am suggesting you to do so because we all know, the longer your duration of doing any savings, the more amounts you will be able to save.
In this 529 plan, any one may contribute to the child's section of 529 plan. It can be relatives, friends or colleagues, and even it can be strangers. But, in the 529 College Savings Plans there are some constraints for making contributions. In this plan, contributions are treated as gifts for federal tax purposes. An individual may contribute up to $11,000 annually, or married couples' contribution can be $22,000 who files join tax returns (they should keep a note that it shoul not exceed the federal gift tax exclusion). There is an option for clients who can also contribute till $55,000 per beneficiary. Anyone may contribute, income or state residency is not taken into consideration.
At last, a person who makes contribution to a 529 College Savings Plan will also be able to contribute to a Coverdell Education Savings Account in the same year.

Coping up with this economic recession by starting a home based business, what do you think?

Due to this economic recession, there are so many employees who are losing their job (it doesn't matter how much hard working they had been!). The financial security of people all over the world is in a much endangered situation. To survive in this economic downturn, the big players of the economy are laying off staff and cutting orders to cut down costs. It has been in US the economic disaster occurred, but along with US, the other countries (developed as well as developing countries) all have to face its rippling effect. We, being common people have to pay for the rising prices and the escalating costs of our basic necessities. But, still the economic market is in slump and struggling hard enough to come out as well as pull us out from this slump.

Whatever is happening in this economy, one thing I must mention to you that the only economic sector which has managed to float smoothly in this time of recession is the online business market. How can you say that they did not have so much of impact in their online business? It's a very simple thing, as the economy went into recession, internet traffic also increased proportionately since people began to look for jobs and ways to improve their business.

Initially when you start an online home based business, you will be getting numerous options of choices to choose a business which will be highly profitable to you. I can suggest you two areas which are highly profitable. Those are marketing and direct sales. This is the perfect time for you to start a home based business. These online home based businesses have got certain benefits: job security and you get an opportunity to become a BOSS. Once you become a Boss, you get additional benefits along with it; benefits: flexible working hours (you can set your preferred time to work), you can be hard working (it depends upon you) and work from home.

Home based jobs are plenty and you can get many options of earning money from these.
A simple example: create your own website or blog, keeping in mind a topic which creates interest within you, market products related to your content and simply accumulate money in your bank savings account.

It was just a try from my side to help you out from this period of recession.