August 19th, 2008

Avoid filing for bankruptcy and eliminate those harassing calls

Posted in Debt by quad0028

Avoid filing for bankruptcy and eliminate those harassing calls from the creditors. Debt loans can solve your problems and eliminate the calls from the creditors. With a lower payment it can make your life a little easier with just one single payment a month, so you can start saving money again. This is truly the right way to go to make your life a little less stressful.

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August 14th, 2008

Your car just broke down and you do not

Posted in Debt, Finance, General, Lending, Loans by quad0028

Your car just broke down and you do not have any money to fix it because payday is not until next week. Well you can apply for a cash advance. The great thing about getting a cash advance is you do not have to go through a credit check nor do you have to bring a whole bunch of documents either. You simply just show them proof that you are working and they send you the cash within 24 hours. It is that simple.

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July 28th, 2008

When you are running short on cash getting a

Posted in Debt, Finance, General, Lending, Loans by quad0028

When you are running short on cash, getting a cash advance can help tide you over with the many different offers a cash advance lender can make you. It’s very fast and easy. Just find a lender closest to you and bring them the required information and you can have the cash you need in minutes. Getting a cash advance can help you avoid all the hassles of late fees.

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June 12th, 2008

Find freedom from the credit card debt treadmill ASAP

Posted in Credit, Debt, Finance, Uncategorized by debtmansteve

Hello my name is Steve Bis and I’ve been assisting people that are in debt with their credit cards for a while now and am aware of the effects it has on someone’s life. When you have credit card debt and believe that the situation is no longer in your hands, you would be smart to make a choice on what to do and make it as soon as you can. You should not procrastinate until it is too late. As plenty of you must already know is that the creditors are not helpful when you speak to them with issues with billing. It’s extremely interesting the way it works because when you initially obtain the card they are the politest people while you are speaking with them. Then if you call them to complain about a past due or over limit charge and try to have it reversed enough trying to maintain payments with 10% or even the 7.9 % interest that they are charging on your credit cards. How are you suppose to afford the new payments now? It was bad enough to manage before the interest skyrocketed. This is why many U.S. citizens are searching for other options such as debt settlement vs. credit counseling, or bankruptcy. If you do not know much about these options then I will offer you a little bit of an education on them.

Consumer Bankruptcy

Prior to 2005 bankruptcy was to be used for individuals who were fighting through serious money troubles. Sadly it was abused by tens of thousands of people who were attempting to evade paying their unsecured debts. They did not want to take responsibility for their actions. The credit card industry was sick and tired of this so they lobbied to have the bankruptcy legislation changed. It is now referred to as the Bankruptcy Abuse Prevention and Consumer Protection act of 2005. This would make it harder for the majority of debtors to file for chapter 7 bankruptcy. Bankruptcy should only be considered as your last resort option after you have tried every other debt relief method. Also you should understand the negative aftereffects that could come back later on down the road. You would have to locate an attorney, go to court and that would cost you a substantial amount of your hard earned income. There is also the issue of it being on your FICO report anywhere from 7 to 10 years. When you are signing any important application or document you will always have to say yes when inquired about your previous bankruptcy, so this does have a very negative long lasting effect on your credit.

Credit counseling

Everyway you turn, either it is advertised on the radio or television, you will hear about consumer credit counseling. A credit counseling organization will try to get the creditors to reduce the interest rate on your credit accounts. You then make one monthly payment to the credit counseling organization and they then pay each one of your creditors for you. The downside to this option is even though they reduce the interest rate on your credit card balances you very well may still pay back as much as 120% of what you currently owe.

This is because joining this sort of agenda you will still be paying back what the full original balance was plus some of the interest for around 4 to 7 years. Almost seventy five percent of the people that are in these programs don’t graduate from the program for one reason or another. Another draw back to credit counseling is that if you have a money problem and are cannot make your monthly payment they will boot you out of the program right away. They will also raise your interest back up and the creditors could keep you off for a minimum of one year and sometimes even longer. This will put you right back to where you began, if not in a tougher situation.

Credit Card Debt Negotiation (also known as debt settlement)

This is the method where you can save the largest amount of money. A reputable credit card debt settlement company will save you at least 40% of what you actually owe. The 40% should include all the fees as well. The same with credit counseling, you will hear a lot of radio and television advertisements all the time. These organizations are opening up everywhere across the United States. Some of these companies try to make it appear like they have a magical button and are going to make all your debt disappear overnight.

There are also many companies that try to use religion to gain the trust of debtors. Whatever company you are going to use it is your responsibility to due diligence on them. You can always start with the BBB (Better Business bureau). You might be able to discover a lot about a company from the BBB. If you discover that a company has only been in operating for a little while and has a plethora of complaints towards them, then you must avoid them. One more thing to look for is how much time has the company been in business. Some organizations only survive one or two years before they get shut down or get caught ripping people off. Then some of them only stay around to earn as much as possible and close shop just to open up down the streetwith a different name] and will continue to do this until they decide it is time to stop.

You need to feel comfortable with the individual you are speaking with as well as the debt settlement company. If they are being pushy and trying to get you to sign a document within the first 15 minutes of the call you need to be careful. This is not a decision you want to dive into head first. Really, how can a company know they can help you out without reviewing your statements first? There are far too many organizations out there that only tell you about the good things about their program. They tell you not to fret anything. This is a extremely simple procedure and nothing negative can ever happen to you. That is a pile of you know what. It is not a extremely simple procedure and it is not the best choice for every consumer. Some Americans still get taken by them because that company candy coated the entire process and did not offer them full disclosure. For a lot of debtors credit card debt settlement can really get you back on track and out of debt in three years or less, while saving you thousands of dollars off your current balance.

One more aspect to remember is a majority companies earn all their fees within the first six months of the their program. Now I will ask you this question, what incentive will that company have to work out the best possible deal on your behalf if they know that they are’nt going to earn any more money from you? There is none! So you see, if an organization understands that why would they keep working on trying to get you a better settlement. This happens all the time. They really don’t care at that point. They take anything your creditors’ offer, which means you put out more of your hard earned money You need to find a company that makes its fees the old fashion way, by earning it. Make sure they answer all your debt settlement inquries. I hope this has given you a better understanding of the varied options you have to becoming debt free. Thank youThanks a lot and have a good [night.

Steve Bis is a credit card debt analyst with the US Consumer Advocate, which practices in credit card debt reduction.

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April 2nd, 2008

Is a debt settlement law firm reputable?

Posted in Bankruptcy, Credit, Debt, Uncategorized by debtmansteve

When looking into debt settlement you can either use a law firm or a debt settlement organization and which is better.  Below is one of the very serious issues to consider between the two.

 One more subject to consider is that law firms have to answer to a greater authority in order to stay in business, the State Bar Association. This gives the client additional peace of mind that there case will be handled properly throughout the debt settlement process. On the other hand a settlement company answers to no one but itself.

 This among other things makes using a debt settlement law firm more sensible.

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March 21st, 2008

Allow Cannon Safes to Appeal to You

Posted in Debt, Financial, General, Helpful Info, Misc by mlongley

It’s great to know that you don’t have to worry about debts and interests. While you have the convenience of financial matters on your side, it’s also just right to make sure that you have a safe place to keep it inside your home. That is where the role of cannon safes come in. These big safes can keep your money and everything else safe from fire and burglars. Don’t even attempt to bring home a large amount of cash without a trusty safe to keep it in.

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March 19th, 2008

Various debt relief methods and their pros and cons

Posted in Bankruptcy, Debt, Finance, Uncategorized by debtmansteve

We here in U.S are on the threshold of experiencing a major credit problem. The sum of credit card debt has hit a record high and we are nearing what may be a recession. Thus leaving a plethora debtors with fewer dollars in there wallets and more debts that they have to pay on. In this writing I will go over the pros and cons of the various available systems of credit card debt relief.

Online Consumer Credit Counseling Programs:

Pros- Monthly payments are consolidated into just one, reduced interest rates, fixed payment not minimum payment.

Cons- Long term repayment, stringent program rules, most do not complete program, obtaining a mortgage on the program is almost impossible, usually payments are close to what minimums were before joining, one missed payment can result in being kicked off program.

Bankruptcy:

Pros- A full discharge of debts owed if you qualify for a Chapter 7, the collectors cannot call and harass.

Cons- Very bad effect on credit rating, made a public record for the rest of the debtors life, change in bankruptcy law made Chapter 7 very hard to qualify for, court ordered repayment process.

Credit Card Debt Settlement:

Pros- Debtors can save a tremendous amount of money of what is owed, fastest way to get out of debt, not made a public record.

Cons- Short term negative effect on credit rating, collection calls, possibility of lawsuit.

 All of the above methods do have their respective pros and cons. However what really determines which method is right for you really depend on the current monetary situation that you are in. For debtors stuck deep in debt but have money to pay a portion of it off then debt settlement would be the correct choice, to help avoid bankruptcy. Those who have lower debt amounts and have no problem making the monthly minimums plus more, than credit counseling is better. However there are some people out there who have literally no choice but to go into a bankruptcy proceeding.

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February 5th, 2008

Which is better settlement or consolidation

Posted in Bankruptcy, Credit, Debt, Economy, Finance, Uncategorized by debtmansteve

Most people who are in debt and are looking for a way out instantly think to go the route of debt consolidation. That is the more common term within the debt relief industry and that is what term the average debtor is familiar with. However another growing debt relief industry is that of debt settlement. The people who learn about debt settlement at some point ask the question what is better for my debt situation debt settlement or debt consolidation.

It really boils down to the financial situation that you find yourself in. People who do not have very much debt and who have no problem paying the minimum payments plus more are much better suited to go the route of debt consolidation. People who stuck pretty deeply in debt would benefit a lot more by going through the process of debt settlement.

Through settlement a lot more money can be saved and you can find yourself out of debt much much faster than debt consolidation. With settlement a negotiation is made to pay back a reduced amount than that of which is owed. Saving the debtor quite a large sum of money in the process. Which naturally will reduce the time that you are stuck in debt as well.
With debt consolidation you are paying back 100% of what it is that you owe, plus interest. You will find yourself debt free within five years with debt consolidation, which is also known as consumer credit counseling. Whereas with debt settlement you may find yourself out of debt in as little two years or less.

If you find a reputable debt settlement company you can look to save upto 50% of what you owe, including the fees for the service.

The only bad part about debt settlement is that you must default on your bills in order for the creditors to be willing to offer you a settlement. So understandably your credit score will suffer in the beginning of this process. And there is the potential for a lawsuit. So that is why it is advisable to retain a law firm for debt settlement so that if you are indeed sued they can still negotiate and reach a settlement out of court. However the vast majority of people do not get sued less than two percent. But it is a possibility so it is best to hire the law firm and make sure that you cover all of your bases.

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December 7th, 2007

Step up to the Plate - How to Get a Car Loan with Bad Credit

Posted in Credit, Debt, General, Loans, Uncategorized by quad0028

If you searching for the very best car loan with the worst bad credit, you need to make sure you find a lender who will provide an instant bad credit car loan. Lenders who specialize in providing financing for people who want a new or used car will often times have the best interest rates. These lenders work with hundreds of financial organizations that compete to provide you with the lowest interest rate and terms for your auto financing.

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October 26th, 2007

Grabbing Your Financial Foothold with a Second Chance Checking Account

Posted in Banking, Bankruptcy, Credit, Debt, Uncategorized by quad0028

Have you considered how your money could be in jeopardy if you had to keep paying insufficient fund fees to your bank? Chex Systems, the leader in providing financial services for banks may disable your capabilities to use a checking account within their system if you can’t pay your bills. If Chex Systems takes away your rights, financial professionals recommend that you sign up for a second chance checking account. Second chance checking accounts provide security since they provide a real account and routing number.

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