The Role Credit Counseling Plays in Debt Relief

The Role Credit Counseling Plays in Debt Relief

I’m a fan of nonprofit consumer credit counseling services. They serve a great purpose for people who would rather not settle their debts or for those who require assistance with budgeting, managing their money, or reducing their interest rates. However, I take a bit of a different perspective to credit counseling and debt management plans [...]

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Debt Settlement Companies: Information About Fees

Debt Settlement Companies: Information About Fees

As opposed to most industries, the service fees charged by debt settlement companies have a direct impact on the services they’re offering. For instance, when you hire someone to mow your lawn, the price they charge has no impact on their ability to complete the job. When you hire a debt settlement company, since your [...]

Posted in: Considering Debt Settlement, Credit and Debt Myths, Debt Settlement, Featured, How to Recover From Debt

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What is a Re-Age?

What is a Re-Age?

What is a Re-Age? I get two types of clients: One type wants to regain control of their finances: their goal is to resolve their delinquencies as soon as possible and return to normal. The other type wants an exit strategy: they want to settle all of their unsecured debts. If your accounts are not [...]

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Debt Settlement Advice

Debt Settlement Advice

Debt Settlement Advice and Tips This article isn’t for the purpose of giving you advice about how to settle your debt, rather it’s about the things you should consider prior to doing so. There are a fair amount of nuances to weighing debt settlement as an option. This article’s purpose is to help you think [...]

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How to Settle Debt with DIY Debt Settlement

How to Settle Debt with DIY Debt Settlement

If I can’t settle my debts right away, why do I want to learn how to settle my debts myself? According to the United States Government Accountability Office, per the Federal Trade Commission and individual state investigations of the Debt Settlement industry, less than 10% of consumers who enrolled in a debt settlement program completed [...]

Posted in: Considering Debt Settlement, Credit and Debt Myths, Debt Settlement, Featured

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Debt Validation Letter – Why it could land you in hot water

Debt Validation Letter – Why it could land you in hot water

If you’re preparing to buy a home, clean up your credit report, or if you’re dealing with debt collectors, you may run into some information regarding the Debt Validation Letter. This information generally entails sending a debt validation request on your “valid” debts prior to communicating with the debt collector who is attempting to collect [...]

Posted in: Credit and Debt Myths, Debt Settlement, Featured

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Credit Scores when Paying or Settling Collections & Charge Offs

Credit Scores when Paying or Settling Collections & Charge Offs

The Internet is filled with a tremendous amount of misinformation when it comes to credit and debt. And one of the biggest misconceptions of all has to do with credit scores and charge offs. It’s a common question… “If I pay or settle my collections or charge offs, will my credit score go up?” The [...]

Posted in: Considering Debt Settlement, Credit and Debt Myths, Debt Settlement, Featured

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Debt Relief Success Rates

Debt Relief Success Rates

Before I talk about my success rates, I want to introduce you to a guy who’s like a consumer advocate on steroids: Steve Rhode. And if you go to getoutofdebt.org, you can see what his amazing research into the debt relief industry has uncovered, including the questionable practices some debt settlement and debt relief companies [...]

Posted in: Credit and Debt Myths, Debt Settlement

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Debt Settlement vs Bankruptcy

Debt Settlement vs Bankruptcy

When comparing debt settlement vs bankruptcy it is important that you’re aware of the possible impact each potential solution generates. Trying to decide between debt settlement vs bankruptcy can be very overwhelming. As you read this article and compare the chart below, you may be surprised to learn that Chapter 7 bankruptcies aren’t as bad [...]

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Credit After Bankruptcy

Credit After Bankruptcy

If you file a Chapter 7 bankruptcy, you will begin to reestablish your credit sooner than you probably think. Most debt relief companies and message boards give off the impression that bankruptcy will ruin you, credit-wise, for up to 10 years. While it is true that a Chapter 7 bankruptcy is generally scheduled to remain [...]

Posted in: Bankruptcy, Considering Debt Settlement, Credit and Debt Myths, Debt Settlement, Featured

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Debt Relief Scams – How to Get a Refund

Debt Relief Scams – How to Get a Refund

A lot has changed in the debt relief environment over the last couple years. Until October 2010, debt relief and settlement companies could charge you upfront fees. Fortunately, the FTC changed that by making upfront fees illegal. However, that doesn’t mean that debt relief scams no longer exist. The FTC upfront-fee ban doesn’t apply to [...]

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