Free Credit Counseling

American Debt Enders Now Offering Unique Debt Relief Consolidation Loans On Website

It seems recently we have been flooded with telephone inquiries from people who are trapped by multiple Pay Day Loans, looking desperately for relief. Unfortunately, the standard non-profit credit counseling program, and debt settlements programs are simply not well suited to provide the relief needed.

As a company that prides itself on providing self empowering solutions for debt relief, our team went to work to find a solution for the pay day loan problem. We have found an outstanding program that fits the model of our corporate and personal philosophies of "people helping people", and here it is: Prosper Loans. Simply click on the link, or visit the ADE website at Debt Relief Consolidation Loans.

The basis of this company, which provides debt consolidation personal loans up to 25,000 dollars, is that the loans originate from consumers who are looking for a better way to earn money on their money. So, each investor, funds part of your requested loan at a set interest rate, and receives a much better return on their money then they can get elsewhere. Because the loans are funded by more than one investor, no single person is totally exposed to loss, and they can feel that they are helping another person, while profiting themselves.

While they make a great many loans for the purpose of debt consolidation, you can apply for a loan for other reasons, such as, an upcoming wedding.

While the original application process does require things like, credit score, proof of income etc., Prosper uses its own rating system to evaluate your credit worthiness, and once you have successfully received and paid back one loan, continuing to do business with them, becomes much easier.

Well, there you have it, short and sweet. If you enjoyed this article, and are not currently a subscriber to this newsletter, you may do so by visiting: FREE Credit Counseling Newsletter scrolling down the page and leaving your email address. We do not ever share your information.

Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
help@americandebtenders.com
877-766-2465

Debt Settlements- Are they Usually An Invitation For Fraud?

Well, just when you thought it was safe to to go back into the water, we find this. Article From NY One.

I had to read the article 4 times to make sure I was not missing something. or was not suddenly transported into a time machine to early 2010. So, just what is wrong with the article. It is very misleading, and a blanket indictment against an entire industry. Have these guys been made aware that the Debt Settlements industry received a complete revamping of regulations by the FTC in October of 2011?

Charging Upfront fees for settlement services, before the settlement has been achieved are illegal. What this means is that the settlement companies or settlement attorney's must basically work for free, until they achieve success. No success, no fee!

Next, It is illegal in most states for anyone to advise a consumer to stop paying his or her creditors, if they still owe money to them.

Any funds placed into a 3rd party escrow account must be under the control of the consumer, not the company.

The article goes on to recommend to the consumer that they seek help from a non-profit company only. Nothing against any non profits. However, if your debts are in collection, the non-profit cannot guarantee you that their program will stop a creditor from suing you to try to get a judgement, anyway, and they will tell you as much themselves, and, chances are, that you will be paying a high monthly payment going this wrought, and wasn't that the nature of the original problem?

The authors of this article would have been serving you, the consumer, a much greater good, by informing you about all the things I just pointed out to you. The article does not even allow for comments, and we would have most certainly commented.

No one should ever undertake any type of personal debt relief strategy of any kind without due consideration and good accurate counseling.

If you are interested in a Personal Debt Management, Free Credit Counseling consultation with someone who can properly guide you through your debt problems, simply visit the previous link.

If you would like to subscribe to our FREE Free Credit Counseling Newsletter and simply leave your email address. If you do, we will send you a 3 day 2 night free vacation voucher to one of 30 top locations, absolutely free, as our way to say thank you.

Written By:
American Debt Enders
Help@americandebtenders.com
877-766-2465

Debt Settlements-Investing In Collection Debt

The Debt Buying and Debt Collection Industry are estimated at 15 Billion Dollars per year, in the US alone. It is interesting to note that with such a large industry, very few consumers have any idea that it even exists. Well, collections yes, but actual Debt Buying as an investment takes place every day by just average consumers looking for an opportunity to get a better return on their money.

So sophisticated has this industry become that many companies specialize in offering Charged off debt as an investment as their whole business. They can predict the success rate with scientific accuracy and therefore even guarantee the rate of return before hand.

If you do a Google search on "Investing in Collection Debt" you may find it returns as many as 50 million websites. Staggering to say the least. Considering the terrible state of todays economy, with banks returning a measly 1%, Debt Buying has become safer in many cases than investing in stocks, and far more lucrative.

Considering that debt buying and investing has become so mainstream in investment circles, it was just a matter of time before someone connected the dots, to the benefit of the debt oppressed consumer and the debt buyers. The Debt Restructure Group has achieved just that. The program is software driven, so that a consumer who is heading for a bad debt situation, enrolls in the program and agrees to pay back approximately 55% of the original debt in affordable monthly payments. Their creditors are listed in their own software platform, where they can make updates, additions and deletions, and deal with customer service issues as they come up. Debt Buyers, looking to invest in collection debt, can confidentially contact the consumers creditors and make settlement offers. If an offer is accepted by the collector and the consumer, then the debt buyer purchases the debt for one payment to the debt collector.

The advantage of this approach is that the consumer now has a less adversarial collector to deal with, and the Debt Buyer already knows the terms that he or she will be paid back at. This stops the collection calls and harassment to the consumer, and a win win situation occurs. In addition, the consumer gets to monitor their account progress through their own software log in. Another benefit, is that this Debt Restructuring approach can take place faster than a conventional Debt Settlements approach, where generally, no settlements take place until their is an appropriate build up of cash in the consumers escrow account.

Finally, the consumer is provided with full legal protection just in case a creditor files a lawsuit against them, until their debt is resolved.

If you enjoyed this article and are not already a subscriber to our FREE Credit Counseling Newsletter, just visit Free Credit Counseling and leave your email address. We never share your information.

Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
help@americandebtenders.com
877-766-2465