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Debt Consolidation Credit Counseling Pros and Cons

Fri, 09 Oct 2009 16:55:17 +0000

Do you know that some forms of credit counseling are just another name for debt consolidation? Debt consolidation credit counseling programs have become as common as standard forms of debt counseling. This dual concept of combining counseling and consolidation serves to help people who are struggling with their debts and need a quick fix. Like many of the other programs this program also has its advantages and disadvantages.

These kinds of programs usually start with an advisor who helps those in trouble by consolidating their debts into one loan. They end up with one payment; a reduced interest rate and in most cases they negotiate to waive the penalties as well as the late fees. If you select the right debt consolidation credit counseling company, they can help you in many ways. The advisors will set you up with a plan with which you can be free from debt.

After examining your financial situation, the advisors will also provide you with a time frame in which your debt problem will be solved. That time frame is usually based on the amount of debt you have, your current budget and how far your creditors are willing to negotiate. As you can see, debt consolidation credit counseling has lots of benefits. But you must also keep in mind that these programs are not suitable for everybody.

Some of the creditors may not be willing to negotiate at that particular time. Others might reject the first offer presented to them by the consolidator. For example, if they consider the time frame to be too long then the credit companies might to just send the account to a debt collector. It’s crazy but no one said this business was based on common sense. Certain credit card companies still have a negative take on credit counseling. So you need to be careful about these things before you decide to go for a counselor.

So you need to learn about these rules prior to enrolling in a debt consolidation credit counseling program. To find out the best company you need to compare the various companies that offer credit counseling and debt consolidation. Choose the one that is the best suited for the situation you are in.

Credit Card Debt Negotiation Can Get You Out of Jam

Thu, 08 Oct 2009 12:55:34 +0000

Are you facing a major debt problem due to your credit cards? It has often been found that people tend to use more than one credit card. Having five to eight credit cards has become the national average. This is one of the primary reasons why lots of consumers are struggling with out of control debt these days.

Eventually, with those many credit cards, the debt swells to a point when the person is unable to make even the minimum payment on some or all of their accounts. When a person reaches that stage it’s a good time to consider credit card debt negotiation. Considering the circumstances, this is probably the best option for a person to eliminate the debt and potentially avoid bankruptcy.

Credit card debt negotiation is a common practice these days. When a person faces monetary problems they tend to stop making the monthly payments to the credit card companies. Consequently, the creditors start fearing that their money may never get paid and they resort to solutions such as hiring third party debt collection agencies that have a knack for harassing those who have missed payments.

The creditors will do this because they have their interests of getting back their money. Credit card debt negotiation can help you out in this kind of situation because with a successful negotiation you end up paying less than what is actually owed.

If you opt for negotiation and do it properly, it is not uncommon to settle for half the money you owe to the creditors. You need to have nerves of steel if you are going engage in a debt negotiation scenario all by yourself. If not, you can take one of the other options such as using a debt settlement coach or you can hire a debt settlement company to act on your behalf. These companies have professionals who are trained, certified and best suited for this job.

If you decide to hire a company then you will not have to worry about the credit card debt negotiation process because the pros are handling it. Taking help from professionals is the best case scenario. The only caveat is that you must take care in the company that you choose. Avoid the companies that charge upfront fees.

Debt Statute of Limitations – What You Must Know About Debt Statute of Limitations on Student Loans

Fri, 17 Apr 2009 15:59:11 +0000

Student Loan Debt Statute of Limitations, What’s That?
Why would anyone be thinking about the student loan debt statute of limitations when they start school? Prior to graduation, the average student has aspirations of getting through school, getting their degree, landing their dream job and getting on with their life. Which includes paying all of their bills, including their student loans. But somewhere along the way a thing called LIFE happens. The next thing they know, they are strapped with paying mortgages, rent, car notes, credit card bills, insurance, medical bills, utilities and dealing with a shaky economy.

Tick Tock, Tick Tock – My Student Loan Is On The Clock
As the clock ticks, their student loans fall further and further behind. One year turns into three years. Three years turn into five years. Five years turn into seven years and the clock just keeps ticking. The debt collectors call and make it crystal clear that they will pursue the long overdue delinquent student loans until the person’s last day on planet earth. But the truth is; all student loans have a debt statute of limitations with the exception of FEDERAL student loans.

What is a Debt Statute of Limitations You Ask?
It sets and defines the deadlines by which a creditor or a lender can legally pursue a debtor in order to collect a debt. Once that deadline has been reached, the creditor, lender or debt collection company cannot LEGALLY pursue that debtor for that debt. The debt statute of limitations is an absolute form of debt relief that no creditor or debt collector can fight against and win. This means that if your student loan has been out there with no payment for three or more years, you more than likely qualify for this statute. It all depends on the state you live in; each state has its on debt statute of limitations. For example, in California the debt statute of limitations is four years but in the neighboring Arizona, its six years. You’ll need to check with your state of residence for your debt expiration date.

What Is The Date of My State?
If you have arrived at that date as declared by our state, according to the law, there is nothing that a debt collection company or an attorney working on behalf of a debt collection can do. The law is very clear on this point; you can’t be sued! Don’t the debt collection companies know this? Of course they do! So why won’t tell anyone? If they did, that would mean millions of dollars in easy revenue that they would not collect. I call it easy revenue because debt collectors buy bad debts for pennies on the dollar. Everything they make after paying off the pennies is premium gravy. It’s almost like investing seventy-five cents and getting back seventy-nine dollars. The debt collectors know that student loans that have reached the debt statute of limitations are unenforceable. The issue is; THEY DON”T WANT YOU TO KNOW! To check with your state for your date! Go here: Debt Statute of Limitations.

Stop Bill Collectors Calls With Little Known Federal Law

Thu, 16 Apr 2009 03:16:33 +0000

Has your home become a debt collector’s haven? Are you living in a quiet desperation because of debt? Do you dream of ways to stop bill collectors calls once and for all? Most consumers with a debt problem are usually blinded sided by this troubling issue. It may be due to money mismanagement or our overall economic issues. Or it may stem from medical issues, job related injuries or something out of the ordinary. Whatever precipitated the problem the majority of people are in the same boat. They don’t know how to stop bill collectors calls. The don’t know how to stop harassment by bill collectors and even worse, they are so emotionally charged, they haven’t come up with a get out of debt plan that will work for their specific circumstances. If you want to get on the road to recovery, your journey starts here and it starts now. Your first step? I’m going to help you instantly stop bill collectors calls.

Make Bill Collectors Stop Calling and Make Bill Collectors Stop Writing

Wed, 15 Apr 2009 19:02:08 +0000

Make Bill Collectors Stop Calling and Make Bill Collectors Stop Writing. If you have had it with bill collectors and debt collection agencies, you’re not alone! More and More Americans are fighting back and getting debt collectors off of their backs and out of their lives. If you didn’t know it, be advised that there are FEDERAL and STATE laws in place to protect you from debt collectors. Once you enforce those laws, debt collectors have no choice but to comply or face stiff penalties from your State’s Attorney General, Federal Authorities and finally civil lawsuits. The key to make bill collectors stop calling and stop sending those dunning collection letters is to know those laws and how to use them.

Please understand, YOU MAY OWE THE MONEY, the debt may be yours, but that doesn’t give any debt collector the right to harass, harangue, badger, threaten or otherwise browbeat you. To make bill collectors respect your rights, you must take on a “Fight Back” mentality and in many cases put them in their place. We are going to share with you the tools, information, scripts and insights you need to gain control of your debt problem and get your finances back on track. Go to Make Bill Collectors Stop Calling.

Can Bill Collectors Garnish Wages Without My Knowledge?

Wed, 15 Apr 2009 03:39:44 +0000

The question was asked, “Can Bill Collectors Garnish Wages Without My Knowledge?” The answer is unequivocally NO!” If they could, I promise you they would slap suits on debtors at the drop of a dime! As soon as they determined the debtor’s place of employment and/or the fact that they had bank accounts or other reasonable assets, their motto reads like a newspaper headline: Bill Collectors Garnish Wages. Bear in mind, all of they cannot garnish your wages without your knowledge. Here’s how the process works. They attempt to contact you through debt collection phone calls and dunning collection letters. If those scare tactics don’t work, the account is sent to be evaluated to determine if you have reasonable assets to pay the debt. If not, they won’t pursue a lawsuit. However, bill collectors garnish wages in situations in which they have confirmed assets and moderate to high possibility of acquiring those assets. The important thing to do is become proactive concerning your debt problem. Don’t wait until bill collectors move to garnish your wages.

News Flash: Americans are Learning How to Reduce and Eliminate Their Debt Problem. Does the Thought of Living Debt Free Appeal to You? If so, and you want to join the Millions of American Who are taking control of their debt problem, Click Here: Get Out of Debt!

A Bill Collector Has Threatened To Garnish My Social Security Benefits What Can I Do?

Tue, 14 Apr 2009 01:06:10 +0000

First and foremost, we are not providing legal advice; we are only making some general observations. Anytime a bill collector makes such a threat, they have probably violated the Fair Debt Collection Practices Act (FDCPA). My suggestion is that you read the FDCPA in its entirety to find out what your rights are. Even if you owe a creditor and your payment is delinquent, you still have some powerful rights. It is unfortunate but all most all bill collectors will cross the line and violate a debtor’s rights just to collect a past due account. Having shared that, a bill collector cannot garnish your Social Security benefits no matter what they say. The only entities that may garnish your Social Security Benefits is the Internal Revenue Service to recover back taxes and the Federal Government may garnish Social Security Benefits to pay delinquent student loans guaranteed by the Federal Government. Finally, child support enforcement may garnish Social Security Benefits. [...]

What You Should Know About The Debt Statute of Limitations and IRS Back Taxes

Sun, 12 Apr 2009 20:12:36 +0000

I’ve said this on numerous occasions that when it comes to owing back taxes, if you are looking for help from the IRS, you can forget it! If you didn’t know it, there are certain Tax Debt Relief options available to you. However, No IRS Revenue Agent is going to share these options. For example, one option for a person who has had back taxes and the issue has been heavily weighing on their shoulders for years without resolution, is the IRS Debt Statute of Limitations. This is a statute written into the Tax Code that bars the IRS from collecting back taxes that reach the 10 year mark. To find out more about this statue, go to: IRS Debt Statute of Limitations.

To learn what you’re going to need to do BEFORE you can experience Tax Debt Relief go to: Tax Debt Relief.

To learn the IRS Debt Collection process, go to: Secrets of The IRS.

Debt Cures – An Unbiased Review of the Book Debt Cures by Kevin Trudeau

Thu, 09 Apr 2009 15:28:40 +0000

If you’ve seen the sensational infomercials on television. You’d think the book “Debt Cures They Don’t Want You To Know About” was the greatest thing since we discovered bread. In the popular infomercials, the author, Kevin Trudeau is interviewed by actress and news anchor Misha DiBono and it appears as though Kevin has come up with the Holy Grail of getting out of debt. Are they providing Debt Advice never heard before? You be the judge.

The first thing you need to about the book “Debt Cures They Don’t Want You to Know About” is this; there are three people constantly providing reviews of this book. The two largest sources of reviews are from the author himself, Kevin Trudeau and then affiliates who make commissions off the book. The next source of reviews comes from people who actually bought the book. Based on those facts our analysis starts with a breakdown of the Debt Cures infomercials.

The infomercials starts off with the blonde hair hazel eyed actress Misha DiBono introducing herself and a company called QSN Direct. We checked and there’s not much info on QSN Direct; they appear to be some type of marketing firm from what we could gather. I bring all of this up to make this point; everything you see on the Debt Cures infomercials is staged. It appears to be a genuine interview by a third party, but Misha is a paid actress and Kevin is the ultimate product pitchman. He’s so good; he could probably sell ketchup to a tomato farmer. I’m not saying that to be facetious; I’m saying it because he’s one of the best television pitchman on the airwaves right now!

The way Kevin describes the content of Debt Cures, one would be lead to believe they going to be taught insider secrets to the credit card industry that makes curing their debt problem a cinch. He asserts in so many words that if you buy Debt Cures, you’re going to learn things that will blow the lid off the credit card industry and that information will cause you to get out of debt much faster.

The second group pf people providing reviews about Debt Cures are people making money from the sale of the book through Amazon.com, Ebay and other auction sites and affiliate sites. Be clear, these are totally biased reviews of Debt Cures because that’s how they generate sales.

The third group of people providing reviews of Debt Cures is the people who actually bought the book. When you listen to this group you hear a rather contrasting opinion to those who are actually peddling the book. In a nutshell the book won’t cure your debt problem. It provides no lid blowing secrets that are going to instantly wipe out or instantly reduce your debt. Some of the techniques espoused in the book such falsely claiming you were a victim of Identity Theft borders on committing fraud. What you will get if you purchase the book is rehashed information readily available on the Internet. The book may help you to some degree if you know absolutely nothing about the debt and credit industries. Overall, don’t get overtaken by the hype; there is no so called Debt Cure that will ingeniously and instantly wipe out, erase, eliminate or reduce your debt problem. All true debt solutions take work, discipline and time.

Tax Debt Relief – Use Little Known Tax Debt Relief Options To Resolve IRS Debt Collection Issues

Tue, 31 Mar 2009 04:28:25 +0000

The need for Tax Debt Relief becomes crystal clear when a person realizes that attempting to settle delinquent IRS tax debts could potentially turn into long and stressful experience. Especially, if they are suffering from a lack of information about the IRS collection process. IRS Revenue agents are like bloodhounds and your delinquent tax is the blood. Once they are assigned to collect from you, you life can easily become a living hell. It starts with the letters and phone calls. If you don’t respond, the letters start becoming more and more threatening. If you don’t respond to that batch of letters, eventually they’ll send you a letter informing you of some very serious and potentially harmful impending actions.

You will be faced with liens on your property, levies, frozen bank accounts and wage garnishments. That’s why it is imperative that you TAKE ACTION NOW! Let’s face it; at that point you need Tax Debt Relief! It goes without saying that hiring an experienced tax attorney or tax professional is often the best option for a taxpayer seeking IRS tax debt relief. If you have sought help from a qualified tax professional or an experienced tax debt attorney, then you know they can save you time, money and headaches. However, their services come with a hefty price tag. If you can afford it, then go for it. If not, then you need to devise a strategy for putting an end to the IRS debt collection process.

Your three little known options are commonly referred to as tax debt settlement programs, and are as follows: being placed on the IRS’s Currently Not Collectible Status, negotiating an Installment Agreement and a Offers in Compromise. Remember, time is of the essence; you need to learn about these options and the steps you need take to implement the one that suits your situation.

Time is of the essence, to find out how to get Tax Debt Relief, Click here: Get Tax Debt Relief NOW!

What about your past Tax Returns? Do you have any unfiled Tax Returns? If so, help Is here… The IRS Estimates that 10 Million Americans Fail To File Their Tax Returns Every Year Resulting In Wage Garnishment, Bank Levies – Even Prosecution And Jail Time! We have a Step-by-step Guide that Reveals How To Solve Unfiled Taxes And Avoid High Legal And Accounting Fees. To learn more, Click here: Clear up Back Taxes.