Is There A Difference Between Debt Settlement Companies and Debt Negotiation?  I am often asked questions about the debt settlment industry.  One of the most asked questions is the difference between debt settlement and debt negotiation companies.  The truth is that they are basically the same thing.

What Is A Debt Settlement Company? Continue Reading »

Credit Debt Settlement Is Better Than Bankruptcy For Settlement Of Debt?  Millions of Americans are facing a mountain of debt and unsure about how to pay for it.  What are the options of getting out of debt when you have your back against the wall?  You can consider credit settlement, debt management, debt settlement program or debt consolidation.  Continue Reading »

What are the rules for being in a debt settlement program?

1. DO NOT tell the client to tell their creditors that they are enrolled on a debt settlement program. In fact, if they ask you, “Mr. Sales Rep, what should I tell my creditors now that I have agreed to do this thing?” , tell them to not take any action at this particular moment in time until they speak with your servicing department (us). DO tell them that you will be sending their file over to your servicing department for approvals, and once they are approved, an experienced orientation representative will contact them and tell them exactly how to handle the creditor calls. Continue Reading »

Americans have a bad habit with credit cards.  The average american has over $9000 in credit card debt.  This according to an article by Liz Pulliam Weston.  This is a troubling figure in light of our current credit crunch.  As people start earning less money or just plain just loose their jobs, credit card debt becomes more of a concern.  For some it will begin the beginning of the end financially.  Once you start getting behind on credit card debt it is very hard to get caught up again.

The Vicious Circle Of Credit Card Debt Continue Reading »

What will happen if I stop paying my bills? It is important to know what will happen if you are unable to pay your monthly debt obligations. The first 30 day late that you have your credit score is going to drop like a rock. I have seen credit scores drop as much as 100 points just for one 30 day late. Your interest rates will probably go up as well. You credit card contract has a provision call the universal default rate. This is the rate they can charge you when you do not make a payment. Continue Reading »

Can a debt arbitration company stop creditor from harassing me? If a debt negotiation company guarantees that they can stop creditor harassment or creditors from call you, run for the hills. In my opinion telling a consumer that a debt settlement company can get creditor calls to stop is a lie. A creditor has the right to call a debtor for a legitimate debt. This is covered in the Fair Debt Collections Practices Act. A good debt settlement company at best can try to stop the calls but nobody should be making any guarantees however.

A debt negotiation company can help stop creditor harassment Continue Reading »