Finance, Loan, Debt and Credit.

November 23, 2017

Credit Card Debt Settlement Program For 2010

Now that the first decade of the new millennium is over, it’s time to start thinking seriously about how to handle your credit card debt.

With the arrival of 2010, there are new laws about credit cards, a new tax year to manage with your financial arrangements, and a whole new economic climate to face. If the last decade was a hard one for you, it may be appropriate to think about a settlement program to start the new year, a new decade, and a new life!

Hector Milla Editor of the “Credit Card Debt Free” website — — pointed out;

“…If you can currently manage your financial situation, meet your bills, make your payments, and are comfortable with your financial position, then you do not need a settlement program. A renegotiation may be helpful for you, or perhaps a debt consolidation service that can take all your accounts and combine them into a single, simple payment plan, but settlement should only be considered by borrowers in serious need…”

Settlement plans are for people whose financial obligations have grown to a point that they can’t manage them on their own. If you have lost your job, had sudden medical expenses, or had your credit line issuer suddenly raise interest rates and you can no longer meet your payments, then it may be appropriate to consider credit card debt settlement programs. With the CARD Act in the U.S. taking effect next year, many credit companies are increasing interest rates, removing card benefits, and cutting credit lines. Combining this with the uncertainty of what the government will do about healthcare and the lack of jobs in the economy, there are many circumstances which may make 2010 the year to consider credit card debt settlement.

The basic concept of these programs is that you work with certified, trustworthy specialists who assess your accounts, your income, your situation, and your ability to make payments, and they will help you consolidate and pay off the debts that you can, and settle the other balances for a fraction of the total sum you owe. They will explain your options in an easy way to understand, and help you consider the impact that settlement will have on your existing accounts as well as the implications for your credit score.

“…Settlement is a serious step, and is not to be taken lightly, nor should it be done on your own. You can negotiate with your creditors to lower interest rates, or extend your repayment period, but settlement is a process best handled by trained professionals. They can make recommendations personalized to your situation, your financial history, as well as relevant local and state laws for people in your situation…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting;

Hector Milla runs his corporate website at where you can see all his articles and press releases.

November 18, 2017

Negotiating Debt Settlements For Credit Cards – Debt Settlement Negotiation Tips

You may be aware that negotiating debt settlements is one of the most effective ways to get rid of credit card debt.  What you may be less sure about is how to go about doing that successfully.  This article will explain how the process works and what your options are when you wish to go ahead with debt settlement.

First of all, I want to be clear about what debt settlement is and is not.  Debt settlement should not be confused with debt consolidation or debt management.  Whereas these other debt solutions are about finding new ways to repay your entire debt, the settlement approach is about negotiating big reductions in the amount that you owe before paying off the remainder.

Negotiating debt settlements is an option that is often used when a person is in a situation that is too serious for debt consolidation to work.  If you do not have enough spare income to make the payments required in a debt management plan, then debt settlement could be the answer.  Debt settlement is an approach which is particularly suitable and effective for dealing with credit card debt.

Negotiating debt settlements depends on being able to persuade credit card companies to write off a lot of what you owe, but they are not likely to do this if they think that you can actually afford to pay back the full amount.  For this reason it is more appropriate for people in quite serious situations, perhaps considering bankruptcy as the only alternative.

Once you are sure that negotiating debt settlements is the right option for you, there is a fundamental decision to make about how to actually do it.  The vast majority of people choose to use the services of an experienced debt settlement company, but it is also possible to opt to do it yourself.  To make an informed decision about this you need to have an understanding of what is involved in each option.

Negotiating debt settlements is a very specialist area and not something you are just going to be able to succeed at without some knowledge of the how credit card companies operate and the processes that they go through.  The fact that you do not already know anything about any of this does not need to be a barrier to going down this route, as it is possible to get detailed help and guidance to take you through the whole process of negotiating successful settlements.  If you are able to do this yourself, the clear advantage is that you take full advantage of the reductions you achieve because there is nothing to pay to a debt settlement company.

The alternative is to use someone who is used to negotiating debt settlements every day, and who understands the process completely.  The main advantages of this are that you can leave it all to them and they understand how each creditor operates and how to time their negotiations to achieve maximum discounts on your debts.  With some of the more well established companies, you can get the added advantage of the fact that they are negotiating with the same creditors for many other people too, so are able to get much greater reductions because of the larger amounts of money involved.

The only downside of negotiating debt settlements through a specialist company is that they need to be paid.  However, the best companies will only take a proportion of whatever they manage to save you, so you still end up much better off, you just do not save quite as much as if you did it yourself.  Debt settlement companies do not operate in the same way in the UK, because there is an alternative scheme called an IVA, which is widely offered by debt management companies, and which also results in debts being written off.

If you are not confident about negotiating debt settlements yourself and you decide to use the services of a debt settlement company, you have an extremely important decision to make with regard to which one you choose to help you.  The reason this is so important is that there are quite a lot of debt settlement companies out there who range from being just not very good, to the downright rip-offs.  Unless you take some precautions over who you select, you could end up being one of the many people each year who find themselves worse off after debt settlement than before.

To be safe, you need to avoid any new companies or organisations that cannot prove they have a record of success in negotiating debt settlements.  A good company will be able to point to lots of satisfied customers.  Another good safeguard is to always apply to about three companies, then go with whichever comes up with the best value offer.  The easiest approach is to follow recommendations for companies that are known to be very well established and ethical, then choose a few from the list to apply to.  Applying puts you under no obligation to take up any offers, and it gives you the opportunity to get a feel for the company and the people working for it.

Read advice on how to negotiate debt on the author’s website, where you can also find recommendations for the most reputable debt settlement companies. K D Garrow has worked as a senior manager with significant financial responsibility for the last twenty years. His Debt UK/US website offers free, unbiased advice on a range of debt related issues, including the debt management plans, UK IVAs, budgeting advice, loans and bankruptcy.

November 16, 2017

Debt Consolidation-a Suitable Option for a Debt Free Life

Debt consolidation or debt advice has successfully helped many people to become debt free. Of all the debt relief options, debt consolidation has gained wide acceptance among the debtors. This is mainly because consolidating your debts makes it much easier to handle your finances. Debt consolidation allows a debtor to merge all debts into one debt account.

Debt consolidation options

Officially debt advice or consolidation offers two options. One is a debt consolidation loan and the other is a debt consolidation program. Majority of the people opt for debt consolidation program as there are less risks involved in it.

Debt consolidation loans

Debt consolidation loans may be either secured or unsecured depending on whether the debtor uses collateral or not. In case of secured loan, majority of the people use their homes as collateral. In case of unsecured loans, no collateral is required. Instead, the debtor’s repayment capacity is taken into consideration. In case of secured loan, a debtor may lose the collateral if he fails to make payments regularly and hence it is considered risky.

Debt consolidation programs

Debt advice or consolidation program is recognized as the most reliable option to become debt free. You consolidate all your debts into one debt account and then pay off your debts as per a new repayment schedule that has been worked out after negotiating with your creditor.

How does debt consolidation work?

You can handle your debts on your own after getting debt advice. You have to talk to the creditors directly and work out a repayment plan so that you can pay off your debts. However, in majority of the cases it has been observed those debtors who seek assistance of a professional or a debt consolidation company was able to get out of debt faster.

If you hire the services of a debt consolidation company, they negotiate with the creditors on your behalf and work out a repayment plan for you with reduced interest rate and hence lower monthly income.

Benefits of debt consolidation

In addition to enjoying a lower interest rate and lower monthly income, there are several other benefits you can avail.

How will you find genuine debt consolidation companies?

Debt consolidation is a growing industry and several debt consolidation or debt advice companies have started offering debt help to innumerable debtors. To find out an authentic debt consolidation company, you can check out with the BBB or Better Business Bureau to find out the credentials of the company. The number of complaints lodged against the company is also an important parameter to decide the credibility.

Author Bio:

This article is written by Jason Holmes, a community writer of Debt consolidation care. Jason Holmes has been writing on debt settlement, debt consolidation, credit card debt, debt consolidation loans and various other financial aspects.

November 15, 2017

Are Debt Consolidation Loans for People With Bad Credit a Good Thing or Not?

Debt consolidation loans are, and have been, the knight in shining armour for those people who have been afflicted with bad credit history. Quite often those who do not go down the route of debt consolidation loans for people with bad credit often end up in a far worse position due to their worsening credit status and financial situation.The general purpose of a debt consolidation loan is that it replaces all accumulated debt, whether it be credit card debt, faltering hire purchase agreements, personal loans, it doesn’t really matter but by combining them all into a much more manageable debt consolidation loan it suddenly becomes a lot easier to take a grip of previously out of control finances.The reason that debt consolidation loans are so beneficial to people with a bad credit history is simply that they are actually designed to deal with the problem of runaway debt and as such are seen by many financial institutions as the ideal product for people with a bad credit history. It was not always the case though, as people with bad credit history were more often than not declined for loan applications irrespective whether they were for consolidation purposes or not. But, eventually, financial institutions started to realise that they were actually harming themselves by distancing themselves from these customers, as their refusal to lend to potential borrowers who had a bad credit history often led to an increase in accounts with overdue or late payments, as many of these customers were actually trying to avoid further tarnishing to their history by seeking out a debt consolidation loan.Needless to say,  that nowadays, debt consolidation loans for people with bad credit history are commonplace as it is seen by lenders as a positive move on the behalf of the borrower rather than a negative.So, the initial question was, ‘Are debt consolidation loans for people with bad credit a good thing or a bad thing?’ and the answer is it can be both.The GOOD is that there is now a way for people suffering with a bad credit history to get help and that their debt as a result will become more manageable.The BAD is that these debt consolidation loans are usually at a higher interest rate.It is your responsibility to check out all the current rates available from different lenders, and it is never wise to jump in and go with the first lender that offers you a debt consolidation loan and debt settlement package, as may be the temptation, especially if you have been refused a debt consolidation loans elsewhere.Once you have decided upon a lender for your debt consolidation loan, the first step of the debt eliminating process will be to make an exhaustive list of all debts regardless of their size, remember you are consolidating ALL debt, not just specific problem areas.A significant part of the process of debt settlement is the job that your debt consolidation loan provider does when negotiating with your creditors. They will often try to get certain debt written off or reduced as their guiding principal is to save as much money for the debtor as possible. It is often considered that debt consolidation loan providers are best placed to do this job as they have the time and the negotiating skills required to achieve large reductions in debt for the borrower but, it is something that I suggest you are fully able to do yourself for no cost. Also there are certain methods of debt removal that are both legal and ethical, these methods are rarely used and can reduce your debt to zero in as little as three years with no increase to payments and they will work even quicker when used in conjunction with a debt consolidation loan. Needless to say the banks and financial institutions have known about these methods for years but, it is not in their interests for you to know about them, why? Because it would cost them millions!  You can find out more about these methods by following my links at the end of this article, you really should know about them prior to applying for a debt consolidation loan.

If you would like to know about the methods you can use to obtain financial freedom click here.. These completely ethical methods of debt reduction have been kept secret by the financial institutions for decades so BeFreein3 and take some action now.
Credit Card Consolidation loans

Negotiating Credit Card Debt Yourself – Advice On Dealing With Credit Card Debt

It is amazing how quickly credit cards can turn from being a wonderful way to get the things you need to being a terrible burden hanging around your neck.  Credit card debt builds up gradually but can become a huge problem that can even lead to personal bankruptcy.  Even if you can still afford the minimum payments on your cards, your debt will still continue to grow because interest is being added every month.  If you are struggling even with the minimum payments, then it will grow even faster due to extra penalty charges.

The only solution to credit card debt on a large scale is likely to be negotiating a settlement with the card companies.  It is very common to use debt settlement companies to deal with your creditors on your behalf, but the best route is negotiating credit card debt yourself, so that you avoid paying any fees for the service.

What you will be attempting to do is approach each credit card company that you owe money to and get their agreement to writing off a large part of your debt.  Sounds marvellous, but why should any of your creditors agree to such a request?  The only possible reason is if they believe that the settlement amount is going to offer them the best return overall.  If a credit card company think you have got enough money to pay them but simply do not want to, they will take a different approach to if they believe you are in severe hardship and you might file for bankruptcy leaving them with nothing.

The main incentive used to reach settlements is the offer of paying the balance back in one go in exchange for a big reduction.  Most people in a lot of debt are unlikely to have enough money lying around to make lump sum payments in settlement of debts, but there are other ways around this.  When you use a debt settlement company, you stop paying creditors and save money up each month instead.  This is then built up and used to settle debts.

If you have no experience of dealing with settlement negotiation before, it is highly unlikely that you will manage to achieve very good deals, simply because you will not understand how the system works.  A good debt settlement negotiator would expect to get about fifty or sixty percent written off a debt, but this is only possible when you know what to say to the card companies and crucially, when and how to say it.  The reason this is so vital is that each company will have their own procedures to follow in terms of how they pursue and eventually write off bad debts.  You need to understand this in order to use it to your advantage.

There are many guides and publications available online which cover negotiating credit card debt yourself, but a lot of them are a waste of time.  There are a few very useful good guides available, from detailed learning programs with one to one support, to more straightforward e-books.  The best ones will tell you exactly what you need to do at every step of the process, including scripts of what to say on the phone and letters and forms to cover each stage of the negotiation.

Read advice on how to negotiate debt on the author’s website, where you can also find recommendations for the most reputable debt settlement companies. K D Garrow has worked as a senior manager with significant financial responsibility for the last twenty years. His Debt UK/US website offers free, unbiased advice on a range of debt related issues, including the debt management plans, UK IVAs, budgeting advice, loans and bankruptcy.

November 5, 2017

Settle Credit Card Debt Without Getting Ripped Off

Ben was desperate. He had over $30,000 in credit card debt and the demand notices were piling up. Within a few months he was going to face foreclosure on his condominium. He had to figure out how to negotiate a credit card settlement that would keep him out of bankruptcy. 

On the radio he heard an advertisement for a debt settlement company. The ad promised that with “one phone call” Ben’s credit card debts could be consolidated into one easy monthly payment. No more harassing phone calls, no more threatening letters, no more risk of foreclosure because he couldn’t pay his mortgage. One phone call and a simple payment plan could give Ben peace of mind and financial freedom.

But Ben was wary of rip-off schemes. The ad sounded almost too good to be true. So he did the smart thing—he decided to do some research. He was shocked by what he found. 

Fees and Promises

Ben contacted a debt relief company whose ad he had heard on the radio. The company representative assured Ben that they had the power to compel banks to lower Ben’s interest rate. All Ben had to do was pay the $499 fee and the company would go to work and within one month Ben would see results. He was assured that because of his lower interest rate within two months he would recoup his $499 investment, and after that he’d save enough to pay down his cards with no problem. 

Another company told Ben that it could—for a fee, of course—negotiate a one-time settlement with all of Ben’s creditors, a deal which would result in a reduction in the principal owed by as much as 75 percent.  

But Ben found out that the Federal Trade Commission has sued more than dozen debt relief companies. FTC and Internal Revenue Service investigators have uncovered debt counseling services that claim to be non-profit charities when they are actually for-profit companies. The non-profit label makes potential clients feel confident about contracting with the company because the company seems vaguely like a charity. 

Some unscrupulous scam artists simply take the fee and run. Others claim that the fee was a “referral” to another company. Others point to fine print that says that results are not guaranteed.

 Finding Legitimate Debt Relief

Ben realized that he needed to avoid any debt-relief company that charged a big up-front fee. The Consumer Federation of America says that for credit counseling services consumers shouldn’t pay more than an initial fee of $50 and no more than a $25 monthly maintenance fee. Here are some basic guidelines: 

Shop around. The Federal Trade Commission website offers advice on your legal rights as a debtor. Compare several services and get to know how they operate.

If the debt-relief company is vague or reluctant to talk about fees, go someplace else. A legitimate credit counselor should spend at least twenty minutes with you in order to get a complete picture of your finances. There should be no charge for this initial consultation. 

Don’t rely on the claim of a non-profit status. If a company claims to be non-profit, go to, which lists every non-profit charitable organization in the United States.

Check out the company. Your best protection against debt relief scams is to check with the Better Business Bureau. Using the search feature, you can easily locate BBB accredited businesses in your area. There are also lots of informative articles on a wide range of topics including debt consolidation. 

By shopping around and getting the facts, Ben found a reputable company to help him consolidate his debts and make payments at a lower interest rate. features an extensive library of articles providing information, commentary, and guidance on a variety of personal finance issues and topics, such as bankruptcy facts and ways to help consumers pay off debt

Credit Card Settelment Programs

Credit card settlement programs allow you to negotiate with you lenders just how much you can pay them as full payment for the debt. It especially works in cases where your finances are low and debts are soaring high. You have to contract a debt settlement company which will negotiate on your behalf with your lenders. You then pay them a certain fee for the services. Some of the benefits that you derive from this arrangement is that you can eliminate late payment fee if any. This is because, as you lenders, they will calculate the value of all those unnecessary charges that they have imposed on you, and they only ask you for the crucial amount, the principle that keep their business going. Through the credit card settlement program, you can also avoid lawsuits and other legal action that follow thereafter. If you show your lenders commitment in paying up for you debts, they can avoid suing you for defaulting. You can also avoid going the bankrupt way. The program works by having you commit yourself to sending a give percentage of the reduced balance to the settlement firm. The money is accumulated in a trust account and then when it is enough, it is distributed among your lenders. In the meantime, all your lenders are made aware of the proceedings and they are prohibited from making any further collection efforts towards you. The program works for both secured and unsecured credit cards. the program also normally takes about 2-4 years to complete, within which time you can strive to repair your financial records.

Peter Gitundu Creates Interesting And Thought Provoking Content on Finance. For More Information On How To Manage Credit, Read More Of His Articles Here CREDIT CARD SETTLEMENT If You Enjoyed This Article, Make Sure You SUBSCRIBE TO MY RSS FEED!

November 1, 2017

Credit card debt consolidation loan

Credit card debt consolidation is regarded as the first step towards getting rid of credit card debt. Credit card debt consolidation loan is one of the ways of consolidating credit card debt. Besides, credit card debt consolidation loan, you can also go for balance transfer to another credit card. In fact, due to the publicity by credit card suppliers, balance transfers seem to be more talked about than credit card debt consolidation loan. Some people kind of forget about credit card debt consolidation loan being available as a method of credit card debt consolidation. However, credit card debt consolidation loan too is important to consider when going for credit card debt consolidation.

So what do we mean by credit card debt consolidation loan?

Put simply, credit card debt consolidation loan is a low interest loan that you apply for with a bank or financial institution in order to clear off your high interest credit card debt. So credit card debt consolidation loan too is based on same principle as balance transfers i.e. moving from one or more high interest debts to a low interest one. The credit card debt consolidation loan has to be paid back in monthly instalments and as per the terms and conditions agreed between you and the dispenser of credit card debt consolidation loan.

Credit card debt consolidation loan, in general terms, is an unsecured loan i.e. doesn’t require you to pledge any security. However, if you have a really bad credit history and you want go for credit card debt settlement using credit card debt consolidation loan, the credit card debt consolidation loan will take the form of a secured credit card debt consolidation loan. This type of credit card debt consolidation loan requires you to pledge a security e.g. the home owned by you or something else that has a value which is comparable to your credit card debt consolidation loan amount. So, worse the credit rating, the more difficult it is to get a credit card debt consolidation loan.

Though balance transfers and credit card debt consolidation loans have the same objective behind them, the credit card debt consolidation loans are sometimes considered better because you end up closing most of your credit card accounts which have been the main culprit in landing you in this difficult situation. However, balance transfers have their own advantages which are not available with credit card debt consolidation loans. Choosing between credit card debt consolidation loan and balance transfer is really a matter of personal choice.

October 28, 2017

3 Simple Ways to Get Yourself The Best Credit Card Debt Settlement

During economy crisis, many people are having big sum of outstanding balances on their credit card statements. In order to avoid themselves from being sued for bankruptcy, debt settlement is one of the best solutions to minimize the credit damage. By taking this step, ones can reduce their debt burden and pay off their bills comfortably.

When you are drowned in deep debt and unable to pay your bills, it is a must for you to go through the process of debt negotiation with your credits or collection agencies. You have to put in lots of effort to negotiate and convince your creditors to accept your offer to reduce your outstanding debt. This step is essential in assisting yourself to get out of debt faster.

Let’s take a closer look on how to get a good settlement on your credit card debt which enables you to save thousand of dollars during financial hard times.

1st Method:

In order for you to stand a better position to get the best credit card settlement, make sure you have some cash on hand. Having about 60% of your total debt amount is the most ideal. It is totally not necessary for your creditors to know how much money you have currently. But having sufficient fund on hand would definitely make your negotiation process smoother.

2nd Method:

Even you have already got some cash on hand; it is suggested for you to purposely drag the negotiation period. Does it sound funny? The rationale here is to “psychologically” make your creditors to offer you a better credit card debt settlement. In other words, the longer the DEBT remains uncollected, the BETTER your chances of getting a good settlement. Saving 40% to 60% from your total outstanding is indeed possible if you use the right strategy.

3rd Method

Try to “act” and “pretend”. You are not required to tell a lie to your creditors or debt collection agencies. If you really find it hard to make payment, just tell them your financial difficulties frankly. In addition to it, “spice” it with some emotional expressions when you are dealing with them. The creditors are not cold blooded and cruel. When you start begging them, in fact they will react and be more generous to your request.

Negotiating with your creditors to save your assets as well as your credibility is not a very hard task if you do it tactfully. It is actually a fair gain at your end to negotiate your debt with your creditors.

Using credit card can lead to serious debt if you are not able to control your spending habits. If you are looking for constructive methods of credit card debt settlement, visit

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