Emily's list: The Harry Houdini Edition

On this day in 1926, legendary magician Harry Houdini gave his final performance. Houdini was known for his uncanny ability to escape nearly every type of shackle, handcuff, box, straitjacket or jail cell he was put in. He also made the Chinese water torture stunt famous. Let's celebrate Mr. Houdini, one of my favorite characters from history, with this week's personal finance blog round-up. Let the tricks begin!

1. Get Out of Debt advises readers on how to find a legitimate debt consolidation or credit counseling service, and how to avoid the scams. If you fall for a scam, your money will disappear like an object in a Houdini illusion. Except it won't reappear.

2. Wise Bread explains that your credit limit may diminish as fast as Houdini's acting career did. The problem? You may not even know it's happening.

3. Master Your Card discusses the different experiences you may get when looking for a loan from a traditional bank versus a credit union. Just don't go looking for money from a payday loan company; even Houdini may not have been able to escape the shackles of 300-plus percent interest rates.

4. Credit Bloggers wonders if this credit crisis will cause credit card companies to back off from marketing so aggressively to the naive college crowd. Houdini had no tolerance for naivete; he spent a huge portion of his life trying to debunk mediums who took money from grieving people who didn't know any better.

5. The Sun's Financial Diary has a guest post that reveals the secrets of successful credit management. Here's a recently revealed secret: A Houdini biography that came out in 2006 claims that Houdini was most likely a spy for Scotland Yard and German police in the early 1900s. I don't know if that's an illusion, but it's true that many magicians have participated in espionage and police work throughout history due to their unique skills of concealment, sleight of hand and escape abilities.

6. Yielding Wealth has found a new tool that allows you to see the direct impact of certain actions on your credit score. Houdini used odd tools to escape complicated shackles and locks, such as shoestrings. Many times he did use a key, but he hid it by swallowing it and then regurgitating it. Yuck.

7. Geezeo provides advice from a lawyer on how you can avoid bankruptcy during hard times. Houdini was teetering on the edge of bankruptcy while performing in medicine shows before he met Martin Beck, an entertainment tycoon who brought Houdini to fame and riches.

8. Kacie at Sense to Save explains why this recession may actually have a silver lining. One major reason: People are starting to see the value of getting out of debt, which can make you feel like you're caught in a straitjacket. That wouldn't be a problem for Houdini, but for the rest of us ...

9. Mrs. Micah says you should not have to pay for a mortgage or credit counselor, and provides four nonprofit alternatives. If you already have loads of bills to pay, adding the expense of a credit counselor on top of that will make you feel like you're drowning in the Chinese water torture chamber (which Houdini did NOT die from, contrary to popular belief).

10. Financial Puzzle gives a tip to accelerate paying off your credit card balance: Pay the same amount, but more frequently. Houdini went from being a poor Hungarian immigrant to a wealthy, world-recognized performance artist. He learned some lessons about paying off debt and growing wealth, and was even able to buy his mother a dress that was said to have been made for Queen Victoria.