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brjjbis — Mon, 21 Dec 2009 13:22:58 CST

Hi all,

This page and site are going to be dedicated to helping people understand the facts about debt relief. There will be various articles posted here concerning bankruptcy, credit counseling, debt settlement ect. If anyone has and question or input I will be glad to answer. I am a debt analyst for the debt settlement law firm, so I am quite informed about how things work.

Here is another great resource on how to get out of debt

Credit Card Debt Solutions Programs

brjjbis — Thu, 25 Jun 2009 14:20:34 CDT

We are now approaching the summer of 2009 and without much of a surprise to anyone we are still stuck in a horrible economic recession. One of the unfortunate mishaps of this recession is that many people are left in debt up to their eyeballs. This has opened a huge market for credit card debt solutions companies.

Such companies can help people to save a lot on how much they owe their creditors and will help them achieve debt freedom in a matter of a couple of years.

However one must be aware that there are plenty of scammer operations around that will simply take peoples money and run. So you must be cautious in the companies that you interview to ensure you are signing on with the right company.

Click the link below if you would like to read an article on how to spot these unscrupulous companies and avoid making a huge mistake that can greatly damage your financial well being.

Credit Card Debt Solutions

Getting Out of Debt Article

brjjbis — Wed, 20 May 2009 10:12:45 CDT

Within the past couple of months the economy is continually slipping farther and farther into recession. And most Americans are slipping even farther into credit card debt, and unfortunately these are the same people losing jobs and homes. Needless to say this is putting a huge amount of pressure on people to figure out ways to get out of debt quickly.

Thus leaving consumers vulnerable to sketchy debt relief companies who want to take advantage of them in their dire situations. So I decided to write an article explaining to people who to properly interview a debt relief company to ensure they have the best interest at heart for the client. After reading this article you will have a much better understanding on how the system works so you will know when these sales reps are being honest or not.

Sketchy Credit Card Practices

brjjbis — Mon, 06 Apr 2009 14:50:40 CDT

Presently of all the financial madness there is one mess that is being quite unnoticed. And this problem is that of unsecured credit card debt and the way the credit card banks are treating their cardholders. These credit card companies have been utilizing a number of devious practices in order to for lack of a better word rob people of their hard earned cash.

One of credit card companies most awful tactics is to activate the dreaded universal default. Thus allowing the creditors to raise someone’s interest rate if they notice any negative. Even if these negative remarks have not a thing to do directly with that exact creditor. In reality what can occur is someone merely falls behind just a single payment on one of their creditors and then come to realize that all of their creditors have raised their interest rate. After the rates have gone up the situation can very simply get out of control, usually the payments at least double and then all of the payment goes towards interest. Keeping the debtor stuck in debt for thirty to forty years.

Recently the credit card companies have been employing yet one more deceptive tactic that helps them set off the universal default. A lot of creditors have been lowering a cardholder’s credit limit to just above their balance, without warning the debtor at all. Once they go over their limit not only can the creditor now charge a fee but now they can use the universal default and rise up the interest rate too.

As someone can notice this has a gigantic negative impact on someone’s financial situation. Folks are seeing themselves constricted in such a more dangerous spot than they were in before. Credit card debt is something that can literally be like a cancerous growth to someone’s financial well being. For those debtors there are a couple credit card debt relief procedures that are available to assist them in getting rid of debt.

One of the most reasonable plans that have been greatly assisting American debtors is a debt settlement program. This is a plan that helps Americans to get rid of credit card debt very rapidly and at the same time save them a lot of funds in the process. Currently there is not a speedier route in which to get out of the swamp of bad credit card debt other than a bankruptcy hearing. With the health of the economy right now people should really attempt to focus on how to get rid of credit card debt, which in turn will help them to stay afloat and survive what could turn into a full blown depression.

Consumer Debt Relief

brjjbis — Fri, 07 Nov 2008 10:01:25 CST

There is a major problem happening economically in the United States right now. We have not experienced this type of an economic recession in well over twenty years and it very well could lead to the next depression. We got ourselves into this situation a few years back when too many people were obtaining sub-prime mortgages that could truly not afford to handle them. This triggered all of the economic collapse we are now going through including the banking crisis and the dropping stock market. But for millions of Americans there is another problem at hand and this problem is credit card debt. There are more people now than ever stuck deep in credit card debt; thus leaving many Americans scrambling for some kind of consumer debt relief. When you combine people losing their homes and jobs with high levels of interest bearing credit card debt it spells financial disaster. The wisest thing for most of these people is to look into some form of credit card debt relief and one of the best ways to get out of debt quickly is through debt settlement. This process will allow these debtors to save money on what they owe and more importantly get out of debt quickly.
Some people may be not able to do anything about losing their home or their job, but everyone can do something about getting out of debt credit card debt and this should not be procrastinated on.

Best Debt Negotiation Companies

brjjbis — Tue, 13 May 2008 11:49:25 CDT

Many people have found themselves stuck in a rough financial rut, with a plummeting economy, high gas prices, and record high levels of credit card debt. These same people find themselves asking how they can get out of this situation. And many have turned to what is known as debt negotiation or debt settlement. Both are the same exact thing. This process is where a debtor saves the required amount of money necessary to later on make a one time settlement offer to their creditors to settle the account at a reduced amount than the original balance. Usually for many people saving them a tremendous amount of money on what they owe.

Now there are many companies out there that can help people in settling their debts. However I have found that the best debt negotiation companies around do two things.

One is they are registered with the BBB (Better Business Bureau) and have a great track record with them. And two is that the reason they have a great track record with the BBB is because of great client services. A good client services is there to help manage their clients' accounts, keep them educated, and of course negotiate a low settlement to save the client a lot of money. Beware of any debt negotiation company that does not have a good track record with the BBB this is an indicator that they may not be worthwhile doing business with.

What is Debt Settlement?

brjjbis — Thu, 10 Apr 2008 14:34:30 CDT

This article is for people to be introduced briefly to the method of debt settlement. And hopefully let those understand which people would be best suited to go the route of debt settlement.

For starters first I would like to classify which debtors are in need of debt settlement. One illustration of those in need are the consumers who put out only the minimum. Another great candidate for debt settlement is the individual who has already fallen behind. The next consumer who is equipped for debt settlement is the homeowner with income who is seriously thinking about bankruptcy.

At this point you must be thinking what is debt settlement? Credit card debt settlement is a procedure of gathering enough funds to arrange a one time payment that is negotiated to a lower amount than the original balance owed. The first question that arises for many debtors at this point is, how do you get your creditors to agree to a lower amount?. Well the answer is rather simple, you need to stop paying on the bills owed. The reason being no credit card issuer in the world is going to negotiate on a bill that is up to date with payments. Which is comprehensible why would the creditors negotiate for less if they think you can continue to pay their monthly minimum payments for the next two to three decades, earning them tremendous amounts on interest. So one must realize that in order to get a good settlement you need to fall behind on payments.

One might ponder how can I improve my situation from doing the debt settlement method? The most beneficial advantage of settling your debts is that of saving money. Which in turn connects with the next benefit, which is saving years of time. With the debt settlement method a debtor can foresee themselves saving around 40-50% of what is owed, and become free of debts within 2 years.

When searching for a establishment to retain for debt settlement one should do their research first. To ensure the establishment you will be working with is reputable and can get the job accomplished the right way. A good place to start is too check up on the BBB, many good standing companies will be registered with the BBB. One More very good move to make when looking for a company to do debt settlement is checking the Attorney General. Most states' Attorney General will list any company that is under investigation. As you can tell any company under investigation will not be a decent company to enroll with.

If you feel debt settlement would be the correct route for you, to relieve yourself of the terrible and financially devastating effect of being stuck in credit card debt. Contact the US Consumer Advocate by clicking on the link above.

Avoid Bankruptcy

brjjbis — Wed, 26 Mar 2008 11:59:30 CDT

Most people who have a hefty amount of debt that they are struggling to pay off, at one time or another have contemplated the option of going through a bankruptcy proceeding. In this brief article I am going to give you some very serious reasons as to why you should keep away from bankruptcy at all costs, if possible. A lot of people in debt do not comprehend the deep negative blow a bankruptcy can have.

1. Bankruptcy has an tremendously negative effect on your credit and becomes a permanent public record!

Bankruptcy is one of the nastiest derogatory remarks that you could have put on your credit report. Thus making any additional credit you try to get very hard, and if you do obtain credit it usually comes with a very elevated interest rate. Additionally, it will stay on your credit report for between 7-10 years. Even when it gets removed from your credit report it stays a public record for the remainder of your existence. So when you apply for new credit at any point in the future, if they ask whether you have ever filed bankruptcy to avoid breaking the law you must answer yes.

2. Brand New Bankruptcy laws in 2005!

In 2005, Congress approved a piece of legislation which forces anybody filing for a Chapter 7 bankruptcy proceeding, which will wipe the slate clean of all your debts much more difficult. Basically if you have an money and assets than most assuredly you will go through a review to determine if you should do consumer credit counseling first for at the minimum 6 months. According to NFCC close to 80% of people in debt who apply can not follow the strict guidelines set from them to finish the program thus tossing them back into the bankruptcy filing. That's when Chapter 13 comes into light which is a form of personal bankruptcy in which the judge will decide how much you will pay back each collector you list based on your monetary situation.

3. Court Controlled Income with Chapter 13!

Before the new law was put into place in 2005 many people that would be able to claim Chapter 7, were now forced to go Chapter 13 in it's place. Chapter 13 requires that you review with the court and make available all of your financial information. You must show all forms of income and assets. The court will review your monthly expenses compared to your income and then determine how much money you will have to dish out each month. You have pretty much no say in this process. If you have liquid assets such as a house they can force you to sell them off, within State law, to pay off your debt. There are scheduled hearings each year and if your income increases you must tell this to the court, this could bump up the amount you pay back. If you have two family vehicles you might have to sell one to help pay off your debts. They basically tell you what you can do with your money. If you have the premium cable you will need to cut down to basic cable, if you consume steaks every day you will need to cut back to cheeseburgers. This can be a tremendously hurtful and embarrassing process.

These are all very negative proceedings that someone must be made conscious of before dealing with a bankruptcy lawyer. A lot of attorneys will not disclose these negative facts of claiming bankruptcy. Bankruptcy is available for a reason and for some debtors they have no other debt relief system accessible to them and must file bankruptcy, however the majority debtors go into bankruptcy when it could have been avoided. A very nice substitute option to bankruptcy is credit card debt settlement. With debt settlement in most cases you will save a lot more money than you would have with a Chapter 13, besides you will be out of debt much quicker, and not experience the many negative consequences of filing for bankruptcy.
Steve Bis is a debt analyst with the US Consumer Advocate, which practices debt relief.