A thought occurred to me recently. After being a credit counselor in both the non profit and for profit arenas for at least ten years, I noted that the consumers seriously exploring debt settlement programs as a viable option to debt freedom seemed to have not only increased, but also very much those consumers who prided themselves their whole lives on working hard and paying there bills.
I cite to support my argument the well known whitepaper by Dr. Bernard L. Weinstein, Ph.D, and Dr. Terry Clower, Ph.D. which can be found at American Debt Enders Whitepaper on Debt Settlement.html. The professors make a powerful se supported by research that debt settlement which has really been around since the beginning of time, really helps the US economy in a win, win situation. You can read the whitepaper for yourself by visiting the above link, but let me put forward my opinion about this topic as the economy has actually changed significantly in the few years since this paper was originally authored.
In case you have not noticed, if you are part of the so called middle class, and would someone please define it, your purchasing power over the last four years has significantly declined. We receive calls from finically distressed consumers frequently who say that they have no idea why they are no longer able to manage their debt payments, as very little has changed as far as they can tell. And there in lies the problem. The purchasing power of the dollar is decreasing, you can check the federal stats yourself, but your buying power has decreased by at least four thousand dollars over the last fur years. And that just assumes that all else has remained equal. In fact, it’s now continually decreasing because of the Federal Reserves need to print money to service the US debt load.
This has become a major problem for US households. Crushing debt, now including student loan debt, coupled with anemic buying power is a formula for at is least stress, and at its worst personal financial ruin. There are only two ways to combat this problem, one is to make more money, and with high unemployment this is more and more difficult, and the other is to lower the debt burden, assuming you are unable carry it any longer.
NOTE: I am no telling you to stop paying your creditors if you are capable of doing so. However, if you are in a debt dilemma, please do avail yourself of the FREE Counseling numbers below.
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.
If you would like to contact me, pleas use the contact information below.
Yours Truly
Steven Ciantro
Consumer Advocate
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
Linkedin Profile
Author #1
Ranked Debt Relief Newsletter
877-766-2465
Comments