No Longer Want To Pay For That Thirty Thousand Dollars Of New Home Furnishings? Debt Settlement May Not Be Your Best Option. (Debt Settlement Program)

Having been a credit counselor for ten plus years, the debt help industry is ever changing, like everything else in our world. Not just regulations, but also attitudes. For example, Chapter 7 bankruptcy used to be considered the worst thing anyone could do. Just walk away from your debts. Well, this attitude toward a bankruptcy has changed remarkably. First of all, it is harder to do. Secondly, the negative ramifications are far fewer and less severe, as overall economic conditions make it a more reasonable alternative. Depending on your age, would you ever have believed when you were younger that US citizens, en Mass, would be losing their homes in foreclosure actions? This was something that only happened to others.

More than ever, the past few years have produced a greater percentage of telephone calls with consumers willing to discuss and consider a bankruptcy, Chapter 7, in order to simply get a fresh start.

Additionally, now, it is not unusual for consumers to want a debt settlement program quote, even if they are making their monthly credit card minimums on time every month.Which is really what the point of this article is. Consumers are speaking with three and four settlement companies to get quotes, just the way consumers used to shop for a mortgage. So why call? Simply because they are now becoming aware of the fact that their credit card balances are not going down any longer and they are simply getting tired of paying on these debts every month. Are you familiar with the expression, the more things change the more they stay the same.

How is it possible that this happens suddenly? Really it is never suddenly, you see first, they make a purchase at a reasonable low payment and low interest rate which they feel they can afford. It is so reasonable that before they now it, the banks raise the interest, give them the required notice, and tell them that in thirty days their interest rates are going to increase. How much? Just enough to raise your payment by twenty five dollars per month. So you feel it is no problem, and instead of freezing the card’s interest rate where it is, and closing it, you have agreed to pay the increase. Now you are on your way to being trapped. Because you do not have one card, you have ten. I have counseled with people who have over thirty credit cards. Yikes. They were caught sleeping at the switch.

So, why are they calling me, your friendly credit counselor? Finally, they are no longer sleeping! This waking up should have happened a long time ago, but, I am not beating anyone up, the important thing is that they now realize their error.

One of the big questions is, can I get a debt settlement quote? Consumers are starting to see this option as the fastest way out, especially, if they are not candidates for a bankruptcy. Let me simply say here that this is not the reason debt settlement programs ever came into being. They came into being assuming that a consumer had a change in there lives which caused the debt to become a real hardship, and could not or would not enter into a bankruptcy Chapter 7. So the ten thousand dollars worth of furniture, that you are sitting on, is now hurting them. Yes, many calls like this indeed.

And, most people do realize that it is really somewhat unsavory to offer to pay back less than they borrowed when they do not even have a financial hardship. If the situation has changed, and a true financial hardship exists, then that is exactly what settlement is for.

But, I try to be non-judgmental in my counseling. I am merely pointing out how differently consumers look at everything in this so called “new economy”. And make no mistake, it is exactly a new economy. One in which heavy debt will weigh you down and disempower you, and keep you stressed out. Is that really how you want to live? How about, if you are getting stressed by debt, and who can blame you if you are, you try speaking to a credit counselor, one who counsels for free, and explains what your options are, and how you can really adjust to this new economy, and become self empowered by learning to live debt free.

A good place to start is by visiting the American Debt Enders website and using it as a free resource.

The site is 105 pages and contains well researched material to help you.

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