tardus finacial ,pay det off in no time *pstd b-4

[zuki]

http://www.tardus.com/

i finally found the site i wrote about before.

i would like to discuss this.

i have trouble with this new math,

*thanks.

[Berkshire_Bull]

I think you could probably find enough info on here to get you out of debt and on your way to financial independance. I would avoid many of those debt-relief programs. They have to make a profit, and you'll be the one paying for it. If you want a more structured environment to discipline you to get out of debt join an online club for free. I know many of the larger cities even have physical meetings much like Weight Watchers for debt relief with no cost to you.

[preben]

I checked the site and the want to sell a seminar for the magic program.

Basically looks like a plan to add extra mortgage payments+move excess money from salary and savings accounts into the mortgage payments (and then I presume establish some kind of credit against the mortgage one can use for the emergencies the cash/income extras was intended for).

Nothing new in that - might not be recomendable though. Cheers!

[zuki]

i checked into it.

they charge 1% of your total current debt to enroll in the program.


*which includes your mortgage debt

i would like to ask more about how this works if someone would help explain how one might move their money in the described fashions of the program.

[preben]

Zuki; I know you don't need people to yell "stay away" so I will just say that I would not touch this with a 10 foot pole. Cheers!

[cute fuzzy bunny]

Zuki - I'll perform the same services for you for only .5% of your total debt load. 8)

[zuki]

that is what i was afraid of. someone who does not know how this program works. saying something non constructive.

i will try to explain what i have heard about the program.

and maybe smart people can figure out the rest.

here goes.

the initial start, i guess they ask what bills you have.

like gas used per week, monthly pool service,food per month stuff.

then you meet with them and they evaluate your debt.

they yhen explainthese techniques like credit card floating balances while your old checking account is placed in a newer type of checking(one which makes more interst) than a bank pays.

and you put as much money in thisaccount and charge all your purchases on a credit card(watching monthly card very closely) and as the late day passes and you go into grace period, you watch it until your last day and then pay (from high earning account)the balance due only for the month going delinquet and continue buying by credit card ( don't quote me, this is second hand info)

and you at the same time try and lower any amortirized debt as quickly as possible.(not sure how this is done)

this is a very small amount of this program and i have trouble remembering all that was said to me in a short time.

but the person doing it seems like they are not having any trouble with the program.

i would like smart people to just hypothesize some ways this may work.

not look for and find wrong with it. but think of ways it would work.

like;
where do you find a checking account that takes direct deposit and pays high interests rates on your savings and the money works like a bank account.

you would really have to watch your statements and stuff, but how can this not work ?

[preben]

He,he
I tried to understand the homepage info but did also not get it.... Those guys must be SO smart that a mere mortal like me can not get it... ofcourse if I DID know how they do it I could do it myself and they could not charge me the 1%... hmmm.... :

Now don't forget to tell me about that secret account they have paying much higher income than other accounts - can't wait to load the stash there!

I say go for it!!! Let us know how it turns out!

[cute fuzzy bunny]

Zuki -

Let me help you out. This 'program' is for people who have no self discipline.

They will help you do a budget. You can do a budget without them. They will give you advice on what things not to waste your money on. You probably already know where you're wasting your money.

They may be able to help you consolidate your debt into a larger ball of debt at what may be a lower rate. If thats what you want to do, you can do that yourself with very little research. What may end up happening if you're undisciplined is that you will end up re-running your credit cards and other now zero debt balances right back up to go along with your nice new ball of debt.

The "magic" bank account is probably a money market account, such as what ING direct offers, or some other similar money market type account. These are usually limited to a small number of withdrawals a month and usually pay ~2.5%, maybe a little more. So you put your pay in there, charge up the credit card and then pay the credit card from the money market.

I guess their point is that you end up with a ball o' debt @~10-12% to go with your 5% mortgage, and you try to arb that a little by taking the 2.5% your money earns before you pays your bills.

For the average person, this will net you at best a few hundred bucks a year. You may also be tempted to spend more than usual as you're spending on a credit card instead of cash. You may be tempted to go off the budget. You may be tempted to run up your original debt instruments once they're put back to zero, then you'll have those AND your ball of debt.

You can do everything they're trying to do for you all by yourself. There is no magic bullet.

The reason why you get the 'unconstructive posts' is because you appear extremely naive with financial matters, and there are a lot of people looking to take advantage of the naive. These 'tardus' folks are those sorts of people. When people who understand finance see someone looking into these sorts of scams, its natural to make fun of the scam. Dont take it personally.

Now if you want to pay someone thousands of dollars to help you save a few hundred (remember: they're in business to make money, not to help YOU) doing things you can do yourself or can learn from a book from the library for free...I'm sure that will make these "tardus" guys very happy.

[preben]

th to the rescue! I really tried to understand their magic system as I said - but as mentioned just figured it for what th has said (throw in a few extra payments on the mortgage). Cheers!

[haha]

Quote:

i guess they ask what bills you have. like gas used per week, monthly pool service,food per month stuff.

Here is a very valuable suggestion- just do your own pool maintenance!

Mikey

[zuki]

i didn't say i paid pool service.

i said, they ask what bills you pay.

i assume it means.pay these bills by credit card and hold your paycheck as long as possible in the % making account, until you absolutely have to pay,without incur of any late fee's.

playing everything to the wire , so to speak.

i have no debt now ,(except house) and just want to learn and eventually pay off the house and retire early if possible.

i don't know why, the way i ask questions makes me sound naive, but i know from the replies it does.

*i always heard.

there is no stupid questions except the ones not asked.

i actually don't even have a credit card.

*thank you for the time and patience.

[Hyperborea]

Quote:

i assume it means.pay these bills by credit card and hold your paycheck as long as possible in the % making account, until you absolutely have to pay,without incur of any late fee's. playing everything to the wire , so to speak.

So, let's say that you do just this. *How much are you gonna' make? *Let's say that you're making good money and spending a fair amount (if you're not then the savings from this "plan" are worse) so that your monthly expenses that you can run through the credit card are $5000. *What you would gain from "playing everything to the wire, so to speak" is a continual one month float on the card.

If you take that one month float and stuff it into a money market account you'll make around 2.8% / annum (current Ing rate). *That means that every year you'll make the princely sum of $140. *Even if these Dr. Who fans (Tardus) have a magick TimeLord account that pays 5.6% you'll only make $280 / annum. *If you slip up and miss a deadline - you forget, the mail is late, the dog eats it, you're on vacation, anything - you'll have late fees. *A lot of hassle for very little gain.

[eridanus]

1) Get bill pay. Many banks offer it for free.

2) Make a payment with it, leaving plenty of time for the check to be sent.

3) Look at the delivery method. If it's electronic, you can shave it very, very, close. Just watch out for weekends and holidays.

4) Voila! The mortgage is paid on the 14th and the credit card is paid one day before it's late.

[cute fuzzy bunny]

Zuki -

Dont take my 'naive' comment to heart, and indeed there are no dumb questions. Well, there ARE a few (they usually start with "is this right?")

Anything you hear on the radio, anyone with a book, anyone with a seminar, anyone with a talk show...anybody with a 'great idea to change your life, just send in $19.95' deal is taking your $19.95 and giving you nothing at all or nothing you cant get for free.

Anyone that wants to take .5%, 1%, 2% of your money to REALLY show you how to make money? If they showed you the really great way they've discovered, its to take 2% of someone elses money to tell them something they probably already know and just dont want to hear, or something they could learn themselves by reading a book from the library.

Anyone with a 'special scheme' that'll really juice up your investments or help you make money, is specially scheming to get some money from your pocket into theirs.

Want to get a jump start and a mortgage is your only debt? Pay an extra mortgage payment once a year, or see if the mortgage company you're with will let you make two half payments a month, or make an extra $100 or $200 a month 'principal only' payment. Most mortgage companies will let you do one or all of the above. With the 'extra payment a year' or extra principal payments, your loan principal is drawn down by that full amount directly, no interest sucked out of it. With two half payments a month, interest only accrues on the balance for the first 2 weeks before your first payment is applied, and 2 more weeks before the second payment.

There are calculators out the wazoo to show you the benefits of all three of those suggestions. For the most part they'll shave 5-12 years off of your mortgage.

Get your 401k going and maxed out to the level where you're getting a match from your company or contribute to your own IRA and take the tax break. Got more money left over? Fund a Roth. Got more money left over? Make whatever smart investments people here can steer you towards.

Keep enough savings between you and the road to make sure you can get another job if you get sick or lose your current job. Keep that cash in liquid CD's or in a money market account. Dont keep too much.

I think all of that should keep you plenty busy for a few years. Sorry if you took that 'naive' thing the wrong way, and sorry if we were too rough on you.

And quit listening to those radio commercials!

[zuki]

i already put money in my retirement thing at work. *it is called a deffered comp program and the employer matches nothing into it.

i have invented a few things and hold poor man patent info on them , but have no idea how to market the items.

they would make a great deal of money.

i have only a couple of hobbies.

audio collecting and bicycles.

and both of my cars are from the 1900's.

i put all my money into my house and that is about it.

i have worked for almost 16 years at the same job.

but was thinking of buying 5 years with the money in the retirement account since i cannot use it until 6? years old anyways

i have heard there is a calculation,something like 26 years and out gives you the best amount of return at a state job when considering your pension.

*i would only want to retire and have no house payment pretty much.

and have some kind of accountant do all the thinking and worrying.

*my home is worth 600k and i have about 200k of audio gear and 80k of bicycles.

as you can see, that is why my thoughts are all over all the time.

i just ordered the ray lucia bucket of money book too.

*ha

[Martha]

Quote:

and both of my cars are from the 1900's.

Boy does this line make me feel old.

[VoyT]

Me, too. Unless he has a couple of Model A's or T's in his garage

[cute fuzzy bunny]

Hey, thats nothing. Both of my cars were manufactured a century ago...

[zuki]

has anyone received the free cd and listened yet ?

i would like to hear from a college level financialist .