Debt Consolidation Help » Debt consolidation

Benefits of Debt Settlement Over Options

Admin — Sun, 11 Sep 2011 06:49:03 +0000

There are a few debt relief options you can choose from – paying on your own, credit counseling, debt consolidation, debt settlement, and bankruptcy. Each option has their own pros and cons, but if you’re leaning toward debt settlement, you may like what this solution has to offer.

Debt Relief Programs – Which Is Best For You?

hotpassion — Fri, 09 Sep 2011 09:38:46 +0000

Debt consolidation lumps all unsecured debt into one monthly payment and lowers interest rates, makes it manageable for a consumer to continue to make payments to creditors. Debt settlement is the process whereby lump sum settlements are reached with creditors or collectors on unsecured debt, this process allows for bigger and better savings because it is a short term program. Debt management is similar to debt settlement but it differs on the fact that it may be a one to two year program where the consumer accumulates funds over an extended period of time to settle all unsecured debt.

Call from the credit card fraud department

Admin — Mon, 29 Aug 2011 23:28:37 +0000

Yesterday as I was busy congratulating myself on my decluttering efforts I got a text message to phone the fraud department of one my credit cards. Well I called back straight away and they asked me if I had tried to make a $298 purchase yesterday at Nordstroms!

..ah.. no…

Turns out someone made a 97 cent transaction which went through and then a few hours later they tried the $298 transaction. The first, small amount is just a test to see if the card will work, then they start charging more.

Well the purchase was blocked thank goodness, and they will refund the .97 cents. He said that it was clear the card hadn’t been used for a very long time. I am not sure if this is what triggered them blocking the purchase, but I’m glad that they picked it up.

I had this happen once before and it was paypal that picked it up. They declined the transaction as well. So I’m not sure just how they do know to cancel some payments, but I’m glad they do.

We will be putting our application in for a debt consolidation loan at the end of this week. I want to get it through ASAP as I’ve been told to expect huge changes at work in the next month ‘a complete change of direction’ so even if I manage to keep my job I am starting to feel I’d like to work elsewhere if things change in directions that I simply cannot support. Fingers crossed our loan is approved and we can get on with selling the house!

Is it wise for me to use roth Ira to pay off debt rather than debt settlement or consodlidation?

Admin — Wed, 24 Aug 2011 20:09:46 +0000

Is is wise for me to use my mutual Roth Ira to help me get out of debt. I’m 56 yrs old and need to pay off some credit cards rather than go to debt settlement or consolidation. Is this wise?

What company offers the best debt consolidation?

Admin — Sat, 23 Jul 2011 11:04:17 +0000

What company would you suggest for a debt consolidation? People easy to deal with and with good and competitive rates. Thanks!

The Benefits of Debt Consolidation and Other Helpful Money Lessons

hotpassion — Tue, 05 Jul 2011 17:35:56 +0000

Getting out of debt doesn’t have to be painful once you know the right way to do it. Learn about debt consolidation and avoid learning this lesson the hard way.

Reassure Your Debt

hotpassion — Sun, 15 May 2011 10:20:29 +0000

Many consumers struggle with the decision between debt consolidation and debt settlement. Debt consolidation requires consumers to take out a new loan in order to pay off old debts. Consumers can do this by refinancing their home, obtaining a home equity line, opening a low-interest credit card, or applying for an unsecured loan.

Finding Funds for Debt Settlement

Admin — Sun, 08 May 2011 13:50:25 +0000

If you want to become debt free, participating in a debt consolidation program is a great option. There are several methods available to reduce debt, including debt settlement. Debt settlement allows you to pay off your debts for a percentage of the total that you owe. Of course, you need money to be able to settle your debts. There are several ways to find the funds to become debt free. Here are some of the most common methods that people use to get the money they need for debt settlement.

How to Become Debt Free By Making Small Changes

Admin — Thu, 21 Apr 2011 16:16:59 +0000

There are different ways to free yourself from bad credit debt. You can read many tips online, but you need to know: the best plan is going to be the one you are setting up yourself. Anyone can give you expert advice, or general guidelines, but you need to take into consideration your preferences, when it comes to debt consolidation and management. You need to set clear goals, and if you are hiring a debt management company to set up the plan for you, these targets might be ignored.

Why Debt Settlement Works Best For Certain Debtors Posted By : Joe Hernandez

hotpassion — Tue, 29 Mar 2011 20:41:14 +0000

Being the president of a debt settlement company, I am often asked how debt settlement works. In order to fully understand and appreciate the process that takes place between debt settlement companies and credit collection agencies, consider the following:

Creditors know that roughly 30% of the 1.5 million bankruptcies that occurred last year were on debt that was reasonably current. Traditionally, people survive by borrowing from one creditor to pay another. However, this process eventually fails when consumers run out of available credit lines and find themselves unable to make their minimum monthly payments.

The most important part of debt settlement is to complete settlement process with your creditors and your collection agencies. In order to do this, it is necessary for a debt settlement company to have you sign a contract and a document that legally authorizes them to negotiate with your creditors on your behalf; this is known as a “Limited Power of Attorney.”

During the settlement process, you will make a monthly deposit into a “settlement account” that will eventually be used for your debt repayment. As funds begin to accumulate in the account, the debt settlement company will start to negotiate with your creditors.

Once a debt settlement offer has been agreed upon, you will need to send that amount, directly from your account, to the creditor. Once the payment has been made, that debt is considered settled in full. You will no longer owe anything on that debt and the account will be closed.

Debt Settlement Process:
” The Setup: When you work with a debt settlement company, you stop paying your creditors and start paying into a trust account set up by the debt settlement company. Part of your payments goes towards fees and part of it goes towards an account that will then be used to pay off your creditors after negotiation.
” The Dark Waiting Period: The missed payments begin appearing on your credit history, your credit score drops, and creditors start calling you. Creditors typically write off debts that are over 180 days late, so as that date nears they become more and more anxious.
In addition to waiting for the creditors to get anxious, you have to wait for your trust fund’s balance to get high enough to pay down negotiated debts.
” Collections/Negotiation: At some point, the creditor will sell the debt to collections agencies for less than the debt itself. It is somewhere at this point that the negotiation begins with the debt collectors and you start eliminating your debt!

However, if debt negotiation does not sound right for you, you might want to consider a more traditional debt reduction program like debt consolidation (or credit counseling). You might not get out of debt as fast. However, you can still lower your interest rates – maybe even lower your monthly payments.

Joseph Hernandez is the CEO of Debt Free Solutions, a debt consulting agency located in Long Beach, CA. His organization was created in October, 2000. His revolutionary debt program is like no other. Unlike other debt elimination programs, he drastically reduces the risks that are inevitable with all debt negotiation programs. Hence, his clients may be able to get out of debt fast-and safe.

By: Joe Hernandez

Article Directory: http://www.articledashboard.com

Stop wasting money by making minimum payments. See how our revolutionary debt negotiation program may get you out of debt fast and safe!

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