Archive for November, 2009
Straight talk about debt settlement from a highly experienced industry executive.
Duration : 0:10:39
debt management is not easy. Consolidated Credit Counseling Services can help you get a handle on your debt, whether it be from credit cards, school, starting your own business, medical bills, etc. You don’t have to be overwhelmed by your debt! CCCS will help get you out of debt.
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http://www.lendingshop.co.uk/debtmanagement/debt-management-help.html The best debt management companies uk debt management help uk. Click now to manage your debt. Debt managers are standing by…
Duration : 0:0:25
Watch as guest expert Bill Rancic gives advice on how to manage your debt
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You’ve seen the ads: credit counseling companies say they can help by getting your payments and interest rates lowered. Others claim they can get your debts wiped out entirely by settling them for pennies on the dollar. Money reporter Stacy Johnson takes an inside look at these companies.
Duration : 0:1:32
http://www.OutOfDebtToday.com Simply put, debt consolidation combines all of your debt and rolls it into one loan package. You wind up refinancing that debt with a lower APR. This leads to a lower more manageable monthly payment. A big benefit here for someone who is barely able to scrape by with their payments can now afford to make payments on time and without the stress. Because the high interest rates are now gone, one can avoid financial ruin.
Here are 3 benefits to using debt consolidation at http://www.OutOfDebtToday.com
1.As mentioned above, a lower APR is the hefty benefit you receive through debt consolidation. Since most credit card debt usually has high interest rates, you can benefit right away with lower payments because of a debt consolidation
2.Using debt consolidation will make the handling your finances much easier to plan. This is because you will only have to manage a one payment a month now.
3.An unexpected benefit might occur when you use debt consolidation to clear your credit cards. You might find some new credit card applications coming to you offering things such as new low introductory rate, or 0% financing for some limited time on new purchases or transferred balances. Or maybe you will receive offers of discounts or reward points. It is recommended not to get back into credit card debt after you have gotten yourself out.
Look into a debt consolidation program, especially if you are behind in your payments or feeling a lot of pressure because your debt is starting to become unmanageable. There are many companies who will provide an initial consultation for new customers to get you on the right track and help you get out of debt fast.
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Options for people in debt
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I’m out of options I need to get rid of my debt does anyone know of a good debt settlement company? I’m looking to do a settlement not a consolidation.
Great question R Ross. I’ve been asking this question for over eight years helping consumers solve their debt problems, after learning how to solve my own.
There are a few good responses here, but most are not considering the following facts about your situation from what I can tell:
If you cannot make your minimum payments or are suffering from a legitimate financial hardship, then your credit is already damaged or soon will be.
If you cannot keep up with your current payments, then there is probably not an easy way to cut expenses and increase your income in order to pay even more than the minimums (accelerated pay off plan), although this would be ideal.
Bankruptcy causes much more damage than having late payments or charge-offs on your credit reports as you may already have or would have going through debt settlement.
Many people have moral objection to filing bankruptcy and want to pay off their debts, but simply cannot afford to pay the full balance and all of the (insane amounts of) interest, fees, etc on top of the balances, which continue to grow 24-7-365 until you eliminate the debt.
Very few people qualify for chapter 7 bankruptcy these days since the new laws were passed October 2005 (causing bankruptcy filings to drop 80% the following year). The result has been bankruptcy attorney’s promising relief through bankruptcy only to sell consumers on filing a chapter 13 bankruptcy (repayment plan) which usually has a total of twelve years of major damage to your credit (5 year average repayment period plus seven years on credit after date of discharge). Also, many chapter 13, court-ordered repayment plans cost consumers as much or more than bankruptcy. See this example: http://ezinearticles.com/?Debt-Settlement—How-Nicole,-a-School-Teacher-With-$55k-in-Credit-Card-Debt,-Avoided-Bankruptcy&id=1521598
Yes, there are MANY shady companies offering debt settlement these days, to say the least. Which is why I relate to your question because I have searched and scoured the debt settlement industry for over eight years now to keep on top of the changes and always have trusted, proven debt settlement programs to refer my clients to.
I would strongly recommend ONLY going through a law firm these days for debt settlement.
Here is a wealth of information on debt settlement, including audios and videos on attorney-based debt settlement available to Kansas residents as well as "do it yourself" information and resources:
http://www.debtgotoguy.com/debt-relief-guide/debt-settlement.php
Best wishes becoming debt free!
I have gone through the Credit Counseling route before and after a year of payments to them, found out that they were not paying all my creditors. Ended up dropping them and continuing most on my own. They had a term the CC companies used (re-up or re-new, re-age?) that I asked the CC companies for and they continued as though I was using the couseling service. I can’t remember but if you go through them (credit counseling agencies) will it affect your credit and/or score? Can I still use the "re-aging" of the credit card myself so as not to hurt my credit rating?
The company I used was Consumer Credit Counseling and even though I did pay off a huge chunk of debt, they still screwed me over on a few CC’s that they missed paying.
Most of them do suck. I recommend a website/message board that is listed in my source. I am a member there and they have helped me get all the negatives off of my credit report and manage my debt.
It is just a message board full of people with useful information, some are lawyers and are extremely knowledgeable on the Fair Credit Act.
I’m looking for the most reputable top knotch debt management company to go with to settle some debts from my younger years..I’ve heard stories though of people getting ripped off and scammed by these "so called companies" So can I ask out there anyone know a good company to go with?
Check this site out it gives you companies that best fit your needs. Type of debt, amount, etc. see if they help you out.
http://www.ez-credit.info