Page 4 shop online at www.broadcasteronline.com August 9, 2011 DAVE SAYS: 1200 What is Unsecured Debt? Dear Dave, What is unsecured debt? Anonymous A-1 DONATE YOUR CAR! Breast Cancer Research foundation! Most highly rated breast cancer charity in America! Tax Deductible/Fast Free Pick Up. 800-771-9551 www.cardonationsforbreastcancer.org nani Dear Anonymous, This is a great question! You’d be surprised how many people don’t know the difference between “secured” debt and “unsecured” debt. Unsecured debt means that someone loaned you money, but they don’t have a lien on anything. Credit cards and student loans are good examples of unsecured debt, because there’s nothing they can directly repossess if the borrower doesn’t pay. Now, if you don’t pay, they can sue you and get a lien against something after they sue you. Lots of times this is done against your income by garnishing your wages. Examples of secured debt would be a car loan or even a home mortgage. A home mortgage is secured by the home, meaning they take a lien against the home. If you don’t pay, they can foreclose and take the house. It works the same way with a car loan. If you don’t make your payments, they can come get the car. Remember this, too. Unsecured debt typically will be the last debt you pay if you’re in ?nancial trouble. In other words, you’d make your car payment before paying on your student loan, and you’d make your house payment before paying on a credit card. In a worst case scenario, like bankruptcy, unsecured debt is wiped off. The creditor gets nothing. But a car loan or house payment either gets made, or you give up your car or home. It’s easy to see how a lender making a FOR RENT Approximately 430 acres of Clay County Farmland Cash rent – Payment due March 1, 2012. Sealed bids due by August 29th. Send bid to Lonnie Mockler at 515 Bulow St., Vermillion, SD 57069. Phone: 605–670 –2437. We reserve the right to refuse any and all bids. Dave RAMSEY secured loan is in a much better position than one making an unsecured loan, isn’t it? —Dave Do car titles go to teenagers? Dear Dave, Our 15-year-old has saved his money, and he’ll buy a car next year. When he buys it, should the title be put in our names or his? Laura Dear Laura, When my kids hit that age, I put the titles in my name. The insurance will be much less expensive if you do this. Plus, you don’t want a 16-year-old under the illusion that they’re in control of their lives. As their parents, you should love them more than that, because they’re just not ready to be in full control. You want them to be in control of some parts of their lives, so that when they leave they have a clue about life and don’t boomerang on you. But at that age, you should be guiding them, and you don’t need an ownership document to a car confusing them about who’s in charge. I turned the ownership over to my kids when they turned 18. In each case, I knew I could trust them, and they were ready for that level of control. So, once they’re ready—and you know they’re ready—if it’s going to be their car, all the accompanying responsibility should be theirs, too! —Dave * For more ?nancial help, please visit daveramsey.com. Tell them you saw it in the Broadcaster! 624-4429 Cars 1250 CARS/TRUCKS WANTED! Top $$$$$ PAID! Running or Not, All Years, Makes, Models. Free Towing! We're Local! 7 Days/Week. Call Toll Free: 1-888-416-2330 nani CASH FOR CARS: All Cars/Trucks Wanted. Running or Not! Top Dollar Paid. We Come To You! Any Make/Model. Call For Instant Offer: 1-800-864-5960 nani DONATE YOUR CAR… To The Cancer Fund of America. Help Those Suffering With Cancer Today. Free Towing and Tax deductible. 1-800-835-9372 www.cfoa.org nani DONATE YOUR CAR, TRUCK OR BOAT TO HERITAGE FOR THE BLIND. Free 3 Day Vacation, Tax Deductible, Free Towing, All Paperwork Taken Care Of. 888-757-6941 (MCN) 1205 SUVs 2000 Chevy Blazer LT, 130,000 miles, loaded, $3800 (605)951-7218 2003 Ford Expedition 4x4 Eddie Bauer, leather, sunroof, black, 72K, very nice. Call after 6pm. (402)649-2592. 1210 Trucks New GM 6 in. Running Boards. 08-012, Reg Cab Pickup. $575/new, asking $300. (605)624-8181. 1220 Vans For Sale, 2001 Pontiac Montana and a 2000 Ford Windstar wagon. Both run great! $1,500.00 each. For more information please call Dave at (402)375-2887. Call Classifieds 624-4429 Motorcycles Buying ATVs, and Side by Sides 1995/newer. Prefer projects. Will pick up. Call (402)371-7002. WANTED OLD JAPANESE MOTORCYCLES KAWASAKI Z1-900 (KZ900) 1972-1976, KZ1000 (1976-1980), KZ1000R (1982,1983), Z1R, S1-250, S2-350, S3-400, H1-500, H2-750, HONDA CB750 (1969-1975), SUZUKI GS400, GT380, CASH PAID, FREE NATIONWIDE PICKUP. 1 - 8 0 0 - 7 7 2 - 11 4 2 , 310-721-0726, usa@classicrunners.com (MCN) 1400 Services PREGNANT AND AFRAID? C a l l Birthright 665-5580 (Yankton); 258-3436 (Sioux City); 3348 4 1 1 (Sioux Falls); 1-800-550-4900 ( t o l l free). 1410 Agriculture 4WD QUALITY OFF-ROAD MINI TRUCKS FOR SALE 40MPG automotive engine, HEATER, full FUNCTION Cabs & more, several models to choose from. www.ulmerf a r m s e r v i c e . c o m (605)387-5660 or (605)661-5050, Menno, SD. Sucker Rod & Pipe. All sizes for fencing and manufacturing. Menno, SD. (605)387-5660 (605)661-5050. 1445 Childcare Providers Daycare openings Vermillion: Ages 1 & up. Nutritional meals/snacks. Lots of TLC. Call Mandy (605)670-3051. 1460 Contractors VERMILLION CONSTRUCTION CO. Poured Foundations, Flat Work; 40 Years Experience; Commercial & Residential; Free Estimates. (605)658-2345. 1465 Electrical DIRECTV Summer Special! 1Year FREE Showtime! 3 mos FREE HBO|Starz|Cinemax! NFL SUNDAY TICKET Free Choice Ultimate|Premier Pkgs from $29.99/mo. 800-906-9155. nani Don’t Miss Our... Book Sale DAKOTA STEEL INC. The Vermillion Plain Talk/Broadcaster Book Sale has been rescheduled for August 10th and 11th, 2011. The Book Sale will be at the Broadcaster/Plain Talk at 201 W. Cherry St., Vermillion from 9:00am to 5:00pm on both days. Proceeds from the sale will go the Newspapers in Education Program (NIE), which provides free newspapers to classrooms in Vermillion. Please stop by as we have lots of books for every type of reader! Canton, SD ! ! ! STEEL FACTORY ! ! ! • 29 Guage Steel • High Quality 100,000 P.S.I. Tensile Strength • Cut to length from 1”- 60 ft. • .0155 mill thickness before paint • .017 mill nominal thickness after paint • 40-year paint warranty FACTO R DIRECT Y Call for Prices. “We Roll Our Own Steel For You We’ll Roll You a Deal” Bottom Dollar • Factory Direct • Wholesale Prices Post Frame Building Packages or Steel Sheeting 605-987-9080 • 605-987-4306 fax