So that having been said, yes, I believe that there is a very strong case to be made for utilizing a debt settlement to relieve a debt problem and regain the ability to start over. We all make mistakes and we all have things that befall us that are devastating financially.
I don’t think I have to delineate them. All of this is compounded by the fact that the banking system in the US has run amok. Those smaller banks that try to do the right thing often go out of business.
Just what do I mean by run amok? I mean 29% interest rates on credit cards in what has become a 3% interest world, and then absolutely refusing to help the consumer when they ask for modest payment relief due to a sudden hardship. Couple this with the fact that in 2007, they had the Bankruptcy laws in the US changed, so as to make it impossible for many to walk away from their debts. Again, you should now know that I do not advocate walking away from your debts just for the sake of it, nothing good can come into your life from that approach. But, do you see what the intent of the banking institutions was? Clearly to trap the consumer who was already laboring under duress. Outrageous! None of this has changed. The banks are tougher today than they have ever been, even though they receive gobs of money from the Federal Reserve Bank, especially at the writing of this article.
Right now, the fractional reserve is 10%. That means that the banks put up one dollar for every ten dollars that they loan out. The collect insurance when you default on your credit cards, then they sell the debt to debt collectors and claim the difference as a loss on their tax returns. Banking just isn’t that complicated, the system is using smoke and mirror tricks on you, and the tacking TV heads, are in on the game.
I know, if you are reading this you have been raised to live a moral life. You can define moral, as it is not the point of this article. However, don’t let anyone lay a guilt trip on you about using a sophisticated debt settlement program to get you out of a mess.
As a final note, I try to always present the following opportunity for you to change your life. It is the most incredible opportunity I have ever seen because all you have to do is follow simple instructions.
All the rest has been done for you.
If you are so inclined feel free to watch the following opportunity video, presented by Mr Ed Mercer one of the worlds certified Billionaires explain it to you:
I hope this article has benefited you in some way, and please feel absolutely free to call me personally using the contact information below. The talking is always free.
American Debt Enders
Certified Credit Counselor
TalkShoe Radio Host
Member National Association of Certified Credit Counselors
Debt Expert for Gail Kasper's Top 1% Club
Gail Kasper's Top 1% Club