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Debt Settlement
Debt settlement is a fairly aggressive approach to credit card debt relief. It is commonly advertised as a highly successful solution for reducing debt to a fraction of its current level, resulting in dramatically reduced payoff time in combination with significantly reduced monthly payments that attain affordable levels. But there are some very important details [...]
Continue reading...Get Out of Debt
21 October 2010
If you’re suffering from credit card debt, then you should take action promptly to prevent the problem from escalating. Here are some specific actions you can take that can help you regain the upper hand and get out of debt. Photo by BookMama. Get Out of Debt on Your Own Call your creditors [...]
Continue reading...Debt Settlement vs. Credit Counseling
21 May 2010
Using government debt and census data available in 2010, it is estimated that the average household in the U.S. is carrying nearly $7,500 in revolving debt, principally credit card debt. When you also consider the fact that approximately 54% of Americans paid their balances in full in each of the past 12 months (Source: “Financial [...]
Continue reading...Doing Debt Settlement By Yourself
21 May 2010
Before considering debt settlement as a solution for their unsecured debt, consumers are strongly cautioned to first consider the negative consequences that may follow from doing so. Specifically, they should consider the serious credit damage they will suffer as a result of not making any payments to their creditors on the accounts involved. They should [...]
Continue reading...Debt Settlement vs. Debt Consolidation
20 May 2010
What is Debt Consolidation? Photo by Gerard Van der Leun. Debt consolidation is a term that we now hear very often given the fact that so many consumers are experiencing problems with their unsecured debt, especially high-interest credit card debt. Debt consolidation refers to a process by which individual debts are combined in some way [...]
Continue reading...Alternatives to Chapter 7 Bankruptcy
10 May 2010
According to a Wall Street Journal article dated January 7, 2010, personal bankruptcy filings for 2009 rose by almost a third compared to the prior year, and a growing proportion of these bankruptcies are Chapter 7 filings. These numbers appear to make a farce of the much-heralded 2005 bankruptcy law reforms that were intended to [...]
Continue reading...Debt Settlement vs. Chapter 13 Bankruptcy
10 May 2010
If you have a very serious debt problem, you may have reached a crossroads at which you need to decide between two debt solutions: debt settlement and Chapter 13 bankruptcy. If you’ve narrowed down your debt solution choices properly to these two options, then you have already ruled out credit counseling services with a debt [...]
Continue reading...Understanding Debt Settlement Services
10 May 2010
Perhaps you are in need of some form of credit card debt relief for your unsecured debt problem. With all the talk in the media these days about debt settlement programs, you may have decided that it’s time for you to finally take control of your situation and move forward with debt settlement services. But [...]
Continue reading...Benefits of Debt Management Over Debt Settlement
10 May 2010
Debt management and debt settlement are popular debt relief solutions and serve as effective alternatives to filing bankruptcy. Enrolling in a debt management plan or a debt settlement program is suitable for those who find themselves in significant, yet less serious, financial hardship. However, each of these debt solutions has its trade-offs. For example, credit [...]
Continue reading...Negotiating Credit Card Debt
8 May 2010
Credit card companies have specialized internal departments that handle collection, settlement and late payment accounts. And just as consumers are different in their finances, priorities and risk tolerances, so too are credit card companies. The guidelines and procedures they employ when dealing with problem accounts can vary significantly. This presents the consumer with an uncertain [...]
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28 October 2010
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