Free Credit Counseling--- 877-766-2465
Student Loan Consolidation---877-766-2465
Free Ch-7 Bankruptcy Counseling-- 516-204-4640 (National Number)
Credit Restoration Counseling-888-586-2661 Inc.FREE Credit Report Review
Each of these numbers provides Free Counseling.
In a May 2013 Story from InsideArm.com which is the newsletter for the debt collection industry, literally 15% of Americans with any type of credit account have at least one of those accounts in collection and appearing on their credit report. It is higher th an in the last quarter of 2012. That number is from the 1st quarter of 2013, and is a new record. The only bright spot is that the balances of the collection accounts is slightly lower. Could that mean that consumers are seeking help earlier?
Here is what the picture looks like going back 10 Years:
Just as I have always maintained in all my writings, this is a new economy and not about to change anytime soon. The dollar devalues every year by a significant amount thanks to the policies of the Federal Reserve Bank, and consumers simply must use credit, or money which they do not have to bridge the gap. Each year the problem becomes a bit more severe than the year before.
Given enough time payments on the debt become unmanageable and the consumer must find a solution. Very often that solution becomes a conversation with a credit counselor, and also often a Debt Management Program will simply not lower the payments enough to make a difference. Note: A Debt Management Program was created by the banks over 20 years ago. It will lower interest, but not usually lower the payment in a significant way, any credit cards placed into the program must be closed but the debt is paid back in full in less than 5 years. For a further explanation of how this works, simply visit: what is a debt management program.
If the consumer cannot meet the minimum payment in a debt management program then they begin exploring debt settlement programs. The essence of a settlement program and a very basic explanation is that the creditor will accept much less than the original debt amount that is currently owed, rather than get nothing if the consumer completely defaults. For a more detailed explanation of this debt resolution program simply visit debt settlement program explained. The fact that debt settlement programs have become a huge industry should speak volumes confirming the fact that we are in a totally new economic environment, and one that is not about to change at all. Can you imagine your parents and grand parents talking about entering a debt settlement program to get out from under credit card debt. Chances are, your grandparents didn’t even have credit cards. Imagine living your whole life without having anything like a credit card to fall back on in an emergency, and you will really begin to understand just how different our economic times have become.
So what is the bottom line. Along with the new economy has come a multitude of highly regulated and effective debt relief programs to help consumers recover from the oppression of debt. And, clearly, as we have just seen, if you need to avail yourself of one of them, know that you are not alone.
If you would like to subscribe to this free debt help newsletter, simply visit, www.freecreditcounselingblog.com and leave your email address. If you need debt help simply use one of the phone numbers listed below. A counselor will be happy to help, and the talking is always free.
The ADE Debt Relief Phone Numbers
Free Credit Counseling--- 877-766-2465
Student Loan Consolidation---877-766-2465
Free Bankruptcy Counseling-- 516-204-4640 (National Number)
Credit Restoration Counseling-888-586-2661 Inc. Credit Report Review
Each of these numbers provides Free Counseling.
Yours Truly
Steven Ciantro
Consumer Advocate
American Debt Enders
Rated 3rd
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So, are there advantages to list scrubbing? And, if so, what might they be to you the consumer? There are definitely advantages, because it takes out of the equation the adversarial aspect of debt settlement. How so? Here is a simplified explanation. The debt collector has purchased as a debt buyer, a large amount of debt from a particular creditor. Lets say that creditor XY credit card company has old debt which the consumer has not made payments on in 8 months. So the debt collector approaches the creditor to purchase the debt at a discount of lets say 25%. So, the collector is willing to pay 750.00 dollars for every 1000.00 dollars of debt.
Why would the bank or original debt holder be willing to sell the debt for less than its face value? Yes, excellent question, please allow me to answer. The bank or original creditor is not able to keep a non performing asset on its books forever. Remember when the banking system almost collapsed? This was one of the problems. Consumers were beginning to default on assets like mortgages, and no one knew about it, or if they did, they had no way to figure out, what the degree of the default was. So, now financial institutions must remove the debt from their books so everyone is clear just what the real value of the stated assets are. The debt buyer is looking to make a profit, nothing more and nothing less. The settlement company is looking to protect its client and get the debt settled for them, the original creditor is looking to get the non performing debt off of its books, so here is why everyone wins. The bank first sells the debt to the collector, then they collect on an insurance policy protecting them from defaults, and claim the difference between the sale amount and the insurance proceeds as a loss on their tax return for that year. The debt buyer or collection company gets an asset they can settle on for a profit, and the consumer gets their needed settlement for less than what they owe, and the debt settlement company looks like the heroes. Avoiding endless litigation, along with the famous debt validation defense. Everybody wins.
I can tell you firsthand that we receive a large number of calls asking if we can provide companies that are willing to scrub there client list on a monthly basis, in the hopes of getting things resolved.
I do hope you have enjoyed this article, do fee free to comment, and if you are not presently a subscriber please feel free to visit: Free Credit counseling newsletter, and simply leave your email address. We never share your information.
If you would like to speak personally to me about your debt issue, feel free to call or email me using the contact information below.
Yours Truly
Steven Ciantro
Consumer Advocate
American Debt Enders
[email protected]
Rated 3rd Nationally
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
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Author #1 Ranked Debt Relief Newsletter
877-766-2465
So my first question is what type of debt and how far behind are you? The answer is, no, I am not behind I just do not want to pay back all the money. The first problem here is that he is really asking me to be his accomplice and help him not pay his creditors, when in fact, he is able to.
The second problem is that no hardship exists. Part of the enrollment process in any debt settlement program is to provide a narrative of the hardship and why the consumer must take the drastic step of a settlement program, instead of maybe a debt management program which is far less damaging to the consumer.
The reason for the hardship narrative, which the debt collector will attempt to verify by pulling the consumers credit report to see if it holds true, if it does than the collector will be more cooperative in providing a lower and easier settlement. If the collector does not believe the narrative and thinks there are funds or assets that really exist, than they will be far less inclined to cooperate, and do everything to try and maximize the settlement, including, litigation. I am guessing that at this point you see the problem, when someone is just trying to get out of paying their debt for no good reason.
I can assure you that there are plenty of counselors who would happily enroll this person, but not this one. I would attempt to place the consumer in a debt management program, but, not lie for them. In this scenario, nothing good will happen. The settlement program will be difficult for the settlement attorney to pull off, and in the end the consumer will not be happy.
If you enjoyed this article, please feel free to get a FREE subscription to our newsletter feed by visiting free credit counseling.
If you need debt help of any kind, by all means contact me using the information below, the talking is always free.
Yours Truly
Steven Ciantro
Consumer Advocate
American Debt Enders
Rated 3rd Nationally
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
Linkedin Profile
Author #1 Ranked Debt Relief
Newsletter
877-766-2465
[email protected]
We live in a strange time indeed. There are those who would have you believe that you must be bad if you do not have any money problems. Even worse, these same people think that someone else should decide where your money is spent. I try to stay apolitical in my articles, but since I am personally so vested in credit counseling, sometimes it can be difficult.
So, in this article I am going to share some resources that I have no financial interest in personally. They are resources that are absolutely free and are designed to empower you. Yes, I am very big on self-empowerment—to live not only a debt-free life but also hopefully a life of abundance. Abundance, by the way, does not mean you have to be a millionaire.
Number 1: A free newsletter put out by a man named Jim Wang. I subscribe to this myself. This newsletter puts out great tips for consumers that are all financially based and very practical. Reading it will make you smarter. Sign up here: Bargaineering.com
Number 2: Another free newsletter called The Penny Hoarder. This newsletter’s sole purpose is to get you free money. Each edition lists something you can sign up for on the Internet that will pay you anywhere from $10 to $100 just for the free sign-up. It is absolutely for real. You have my word on it. This week’s money maker was getting $15 for simply downloading a cell phone app. Here is the sign-up page:
Number 3: American Debt Enders has recently placed a budget calculator on its website. If you have high-interest-rate credit cards, my first question is, why are you allowing yourself to be trapped by high interest when there is an easy fix? Simply visit the Credit Card Budget Calculator, and after you see how much money you’re throwing away, read on the same page how simple it is to change that situation with a Debt Management Program.
If you enjoyed reading this newsletter, feel free to subscribe here: Free Credit Counseling Newsletter
NOTE: This week all cell phone numbers will be public access. That means, if you want to avoid receiving telemarketing calls that you will pay for, call 888-382-1222. It only takes 30 seconds to register your cell phone.
Yours Truly,
Steven Ciantro
Consumer Advocate
American Debt Enders
Rated 3rd Nationally
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
LinkedIn Profile
Author #1 Ranked Debt Relief
Newsletter
877-766-2465
Federal student loan debt is pushing one trillion dollars nationally. If you are not currently drowning in your student loan debt this may not be meaningful to you, but it does effect you because it drags the entire economy. If you are having trouble managing your student loans then by all means read on, because we have the answer for you.
The Dep’t of Education through which all Federal Student Loans are now handled, has put together many different relief options beyond the deferment solution which is only putting the problem off. American Debt Enders is now in a position with a simple one page application, which can be downloaded at: consolidate my student loans, to provide you with an accurate quote with what can be done to provide relief for your student loans.
Additionally, if you have private student loans which are now in collection, we can also help with those in a debt settlement program. So why should you take action? Because student loans have no other solution except to pay them. You cannot file bankruptcy for federal or private student loans, you simply cannot escape them due to the way in which the laws are written. It doesn’t matter if you found that dream job after that one hundred thousand dollar education or not. If you default, you will wind up having your wages garnished, and liens put on anything you own. This is crazy, when it simply does not have to be.
So please, I urge you. Save yourself from the madness, and contact us for immediate help and student loan relief.
The ADE FREE Debt Help Phone Numbers:
Free Credit Counseling--- 877-766-2465
Student Loan Consolidation--- 877-766-2465
Free Bankruptcy Counseling-- 516-204-4640 (National Number)
Credit Restoration Counseling-888-586-2661 Inc. Free Credit Report Review
Each of these numbers provides Free Counseling.
Yours Truly
Steven Ciantro
Consumer Advocate
American Debt Enders
Rated 3rd Nationally
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
Linkedin Profile
Author #1
Ranked Debt Relief Newsletter
877-766-2465
