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Now, I am not a political person who totally “Hates” Obama. I am a person who deals in realistic thinking and whatever makes money and supports America financially is what I think is best for America. That being said I will not say anything else. I saw the “Rich Dad” aka Robert Kiyosaki a man whom I a grew fond of over the years for his idealistic thinking of Cash Flow investing.

I know the reason he is a millionaire is for his ideas and philosophy of how the rich think. Here is a video I saw on Fox News (yes a more conservative network), but what he said was one of the most realistic approaches I have seen yet

Well it is the back to school time of year and it seems that the common phrase is ” I Need Money For College”.  Since the economy is pretty much in the crapper and times are tough. People are still in need of a chance for some extra money for college. 
Here at Binaryburn we looked around and came up with this pretty cool offer to get $10k in some college funding. If you are like me and fill out every sweepstakes out there this one has been grabbing a lot of college students attention lately.

Just in time for back-to-school shopping

College Dream Sweepstakes: July 16-August 31, 2009 HURRY Not many DAYS left!

I named this video the Swine Flu Video because of the media hype putting fear in everyone it is basically all hype and this really relates to internet marketing except the media is really a group of marketers controlling and promoting certain launches that they are invited to.

So I was filming my first video and start of a more consistent video blog about my journey of making money online. I have been studying all kinds of ways to make money online for almost 2 years now and have decided to come out of my shell and really start trying this thing.  So far I have been sending some traffic building tips and other cool things I find to my newsletter.

While filming this I had a a pretty embarrassing interruption that I will not reveal on this blog.  Anyway I had to re do this video and notice how I am using a current trend to try and attract some video traffic.  So lately I have decided to go back to the basics and look into joining some affiliate networks like NeverBlue and Commission Junction to try and mess around with some CPA offers.  Well tomorrow I will be sending out a newsletter and talking about one of my favorite ways to make some real money with no money down.

I may do the video on the way to work seeming it will be decent timing.  The How to video I will have up by Monday and send out to my email list.

So my site is about Cash Flow making money online. Well I knew I would have to touch on this topic and I was very scared about going about it. Why? Well I am not an Investor yet.  I barely can spell Forex til one day I ran across a site that had a cool piece of software.

CHECK IT OUT

It has free information and I am really getting into the reason why Foreign Exchange is important to investing

and making money online.

I am reading his site now to really learn why this is the latest craze in investing. I even found that there are even trading bots such as this one Click Here!

I have created a new investing section on Cash Flow Ninja on how to take some of your money and make money off  of Forex investing.

Expect more topics on this the more I learn from the Learn Foreign Currency Trading Systems

and taking assets you make online from your businesses and websites and taking a portion of your Business Quadrant and investing into the Investors Quadrant.

I can’t wait to figure out how to use this thing!!!

I will keep you updated on my blog how my Investing quadrant is coming along!

Cash Flow Ninja

Shane Hale

So back to my story,  Once we had figured out that not even the credit counselors could help out.  I decided to go online and research Bankruptcy. I ran into some awesome forums which had a great support group of people who let me know I made the right decision.

Here is a link to one of the forums. It was a life saver for understanding credit and what items will stay on your credit profile and how to remove false or erroneus information off of your credit report.

First thing you can during this time or prior to meeting with the lawyer is to get the service on your phone to screen calls. AT&T calls it privacy announcer. It requires the caller to announce who they are if they are coming from a 800 or private number.  This will help you with the heart ache and avoid arguing with 3rd party scum collectors.

The next thing you may need to go through with the lawyer he will sit down and access your debt. You definitley as painful as it may seem write down all of your debt as well as property car,house,clothes,jewelry ect.  For the jewelry and clothes they will be accessed at yardsale and pawn shop prices as was told to me by my lawyer. You will have to state what you want to keep as per cars and houses.

Once all of this is recorded they will have a “Meeting of the creditors” which creditors will show up to the bankruptcy filing to state their cases and organize any type of asset collection if any. Most of the time the major creditors will show up and say nothing. It is all for just record so don’t freak out.

During the process, they will ask you if you claim all is correct and the judge may ask you about the what car you want to keep or if you sold anything in the past 30 days prior to the hearing. Note* You are not allowed to transfer title or sell any property during this time.

The process is quiet simple and can be done on your own I do recommend hiring a lawyer to help with change in laws and paperwork.  The main thing is to keep your head up and learn from this experience. You are not a bad person or irresponsible. This happens to people daily. As long as we keep the current lack of financial education in public schools and not teaching people on everyday credit and how it can help you we will as a nation continue to have financial downfall.  I suggest reading the forums and learning about how credit cards can help you and hurt you.

When you are back to building credit you will have to have credit cards with a minimal balance and pay a monthly payment ontime.

DO NOT EVER BE LATE ON THIS!!

Paying the payment if it is $10.00 on a $100.00 balance it doesnt matter just keep them current. Make sure you are using your card for small managable purchases. This should not be used to pay bills or buy high ticket items you can not afford if so you will find yourself back in the same problem.

After about 2 years of the discharge you should be on the path to rebuilding your credit again. This is from my personal experience. I am 6 years in my discharge and have purchased  property and cars and maintained very good credit. Also, another thing make sure that you keep your credit balance under 50% of the total balance or they will mark negatives against you and lower your credit score. High balance shows on your card as negatives.  Also, be vigiliant when looking for loans not to have them “pop” your credit with inquiried too much.  You are allowed so many in 30 days before it looks negative on your credit.

#1 ESTABLISH A BUDGET!!!

Here are some books that have helped me understand finances.

This is a awesome Get out of Debt Strategy.
Click Here for a Bankruptcy Strategy guide!

So many don’t know this but this was one of the hidden mysteries but yet public record of the Hale household. I once had to file for bankruptcy. Chapter 7 which was one of the more emotional and humiliating yet enlightened experiences I have ever done.

Year 2001, after realizing that the back then that the going rate of interest on our debt and the ever so growing calls coming from the collection agencies. I realized I had to do something. At the time credit counseling was very popular and had went mainstream. I tend to forget the popular ones back then.

I decided ok let’s do this so I did. After several months and trying to get on the plan they did successfully negotiate a payment plan and we participated in this plan for about almost a year.  One of the things they don’t tell you is that whenever you are in credit counseling your accounts are flagged with a credit counseling type of flag on your credit report with all 3 major reporting agencies, Equifax,Experian,TransUnion.  At the time I never knew anything about reporting agencies and the fact there were 3 of them.

After looking at the payment plan I decided to really dig deep into how credit works and I realized nothing in school even in business classes and such no one every teaches you how to properly handle credit well at least back in the 80’s and 90’s. Highschool will teach a little about budgets and how to maintain them at a grocery list perspective.  I honestly used to be totally mindless about credit to the point when I went to get or try and get a car loan or something like that it was literally like playing the lottery and hoping to win! lol very sad but true.

After I really got into reading some of the credit repair forums which I will post some of them if they still exist as referral links.

Once I decided to go with Bankruptcy, I knew it was the right choice for me working on a new beginning and becoming financially free.

I also read alot about credit clean up and about credit in general. Here are some books that I recommend you need to read. If you are not into reading like me I have to say most of them have been very easy to read and only took a week of about 1 hour a night chapters were like 30 page on average.

I will continue this story next time and how I coped with Bankruptcy and some of the adversity I faced as well as tips and tricks I did to build my beacon score well over the 700 mark and talk about the things I learned in the credit cleaning process.  Hope you enjoyed my first addition to the finanical tip post.

Here is part II to my Bankruptcy story