Comments for Debt Solutions Blog

Comment on Debt Relief Programs – Debtmerica and ClearDebt Solution? by credit counselor

credit counselor — Tue, 30 Mar 2010 22:52:22 +0000

I can personally tell you there are better options out there- OR at least be looking for these types of companies- The key- is a member of USOBA, more than 5 years in the business, and online access. Not to mention look at complaints on some companies and do research! I can tell you NCA Debt Solutions is a great company. The counselors perform an in-depth consultation to make sure potential clients understand the whole process. Knowledge on the process is power! The pros and cons are so important to understand. So you want to know all the info you can find out! As only you can choose if Debt Settlement is the best option for you! And to do that you need the FACTS!

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Comment on Can somebody give me any advice (from experience) on debt relief programs? by credit counselor

credit counselor — Tue, 30 Mar 2010 22:46:28 +0000

Non profit can be so very misleading. Some companies claim to be non-profit as a tax shelter, and can be receiving fair share kick backs from the creditors! Keep in mind- what kind of service you will get from a non-profit company. Is some one more likely to work hard and do a more accurate job for profit- absolutely!

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Comment on Does anyone know of any debt relief programs that are legal and won’t rip me off? by credit counselor

credit counselor — Tue, 30 Mar 2010 22:40:07 +0000

There is a lot of work that goes into negotiating your debt. It is not all about I owe a certain amount, and it will be settled for this amount. There are long term ramifications mostly costly, to just be paying your minimums. Your state is required to have an attorney negotiate on your behalf, and with the amount you owe, you will probably be walking out paying the exact amount you owe. Is that a good deal? YES- if you are at high interest rates, and behind, you are saving thousands of dollars in the long run. Cheaper is never better in this industry- so I would not be going off of cost. Be safe and go off reputation- NOT FEES- NCADebtsoltions can help your state and they are a member of USOBA!

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Comment on Where can I find a list of reputable debt relief programs? ? by credit counselor

credit counselor — Tue, 30 Mar 2010 22:35:12 +0000

CAUTION! Do your research- those mailers are simply purchased information on people and then marketed and sold in mass quantities, most of those companies are not all that experienced! Nor are they members of USOBA- There is a lot of pros and cons to debt settlement, and most of the individuals and companies doing these mailer programs, do not take the time to explain them! Simply ask these few questions! Are you a member of USOBA, do you have online monitoring, are you registered with the BBB. Most debt settlement complaints are from lack of explanation of the program, not that it does not work, because it is a great program if you are the right candidate for it!

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Comment on I signed up for one of those debt relief programs. Now I’ve received a summons from one of the creditors? by credit counselor

credit counselor — Tue, 30 Mar 2010 22:30:16 +0000

It can happen! It did not happen because of debt settlement, or from not talking to the creditors. If you were a true candidate, it happened because you were in financial distress. Some debt settlement companies do not take the time to fully explain in detail all the pros and cons associated with debt settlement. Yes- it is a legal action. But keep in mind and put things in perspective, it is a Judge, saying you owe this debt. And you will get to it when you can. NO debt settlement company should ever be telling anyone legal action will not happen. Sometimes creditors think you have a lot more money than you do and they want it. If the true fact is you don’t. Then the judgment will be there until you either try to settle it with them, OR you eventually pay it off. Good Debt settlement companies will file a rebuttal on your behalf. and try to get the legal action stopped and settle the debt. It is rare for legal action, but it can happen. All you can do is keep moving forward with the plan- to get out of debt!

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Comment on Debt relief programs? by credit counselor

credit counselor — Tue, 30 Mar 2010 22:24:00 +0000

You have great questions and most can be handled by a free consultation with a good debt settlement company. Everyone’s credit is affected very differently- to be honest- you really just have to ask yourself if keeping a good name on paper is worth the monthly stress. I suggest you call us- 1-888-282-1011, for detailed answers. Play it safe and always go with a company that is a member of USOBA- and we are!

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Comment on debt settlement program? by Patrick Juntunen

Patrick Juntunen — Sun, 20 Dec 2009 23:58:44 +0000

Interesting. I like many others have pulled out all the stops for this xmas and am thinking about how I am going to pay back the credit cards. I will think about this and some of the other ideas on your site which may help repaying some of the cash after the holidays.

Comment on Selling home, making a profit – better to pay off credit card debt or put money into new home? by Mike

Mike — Tue, 24 Nov 2009 01:01:11 +0000

Truly the wiser decison would be to pay off the credit cards for two reasons. First of all, if your mortgage is fixed, like most mortgages, it is never subject to change on you. Whereas, credit cards interest is always subject to change, even if you are current and have never missed a payment. If your mortgage is not fixed, paying off the credit card debt will help your debt to income ratio and credit to help your chances of qualifying for a better rate when you refinance. The other main reason is the interest rate itself. The average mortgage rate is typically around 6% versus the average credit card rate of 19%. Financially it would make the most sense to pay off the higher rates first to save the most money in the long run.

Comment on What is the best way to pay off credit card debt? by credit counselor

credit counselor — Thu, 05 Nov 2009 21:58:31 +0000

There is no government grant at this time to help with credit card debt, that is simply advertising. The companies promising that high of a settlement on all of your debt are bait and switch programs- SOME companies will settle for that and even higher- yet some companies will settle for 55%. The industry average is 62%. I highly suggest only going with a company that sets aside 50% in reserves for your settlements- this is just a much better and pro-active way to get you out of debt the fastest way. I would never suggest taking out a second mortgage to handle your debt. It is not advised to ever secure unsecured debt- you have options with debt that is not secured to anything. When you secure it against your house- and money gets tight- now your house is on the line!

Comment on Selling home, making a profit – better to pay off credit card debt or put money into new home? by credit counselor

credit counselor — Thu, 05 Nov 2009 21:52:11 +0000

This is really a personal decision- but I would suggest paying them off, and being debt free. This will help you live within your monthly means. You can always put more money and effort into your new home as you go. Being debt free will help relieve any additional stress, and set forth short term and long term goals for the house. It will then all fall into place, without the extra burden of credit card debt!