Finance, Loan, Debt and Credit.

April 8, 2018

Can You Settle Credit Card Debt Without Damaging Your Scores?


Not every single debt help measure today has to have a hugely detrimental effect on your credit score. This is what many of the credit card companies want you to think, because they have a vested interest in your money and your continued struggle.

If consumers were to listen to credit card providers today, then they would believe that credit card debt is something that has to be paid off with only minimum payments. The companies use scare tactics in order to keep customers away from things like debt settlement. The truth is that you can settle without killing your credit score.

Hector Milla Editor of the “Get Rid Of Credit Card Debt” website — http://www.GetRidOfCreditCardDebts.net — pointed out;

“…Credit is calculated using a number of different factors. The three credit reporting agencies all have information on pretty much every little thing that can ever happen to your financial situation. Every time some company requests your credit report, it is noted on your report. Every time you miss or make a payment, it’s put down there. When you go over the limit, it’s there. These things are all weighed along with some other factors. Other factors include your total amount of debt owed, your open account number, and your payment history. With this in mind, settlement will have a different effect on these factors…”

Settlement in itself is not good for your credit score. It goes down as something of a black mark, since you did not pay the debt in full. But whatever it causes in negative terms, settlement makes up for with positives. Consumers get to stop missing payments and they stop the late payment deductions that occur. Consumers also completely knock out their amount of debt owed, which is probably the most important weighted factor when considering your score. When all of these things are put together, it is easy to see how your credit score might remain at its current level or even rise a little bit.

“…Lots of damage occurs when you let debt go unattended. You shouldn’t be worried about this when the time comes to get out of debt, though. If you can successfully use settlement to your advantage, then do so. It will more than make up for the slight dip that it immediately causes in credit. The card providers don’t want their consumers to know this, so they hide settlement options from you and scare you away from them. Beating debt requires this kind of solution, though…” H. Milla added.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.GetRidOfCreditCardDebts.net

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

March 4, 2018

February 12, 2018

Credit Card Debt Help From Government – Is It Real?


With so many government programs being passed in recent months, it’s quite likely that you’ve started to hear about credit card debt help from the government.

However, you may be wondering if it is real. People who are in significant debt have probably received solicitations encouraging them to use a particular debt relief program. What exactly is being offered and can it help your situation?

Hector Milla Editor of the “Credit Card Debt Counseling” website — http://www.CreditCardDebtCounseling.biz – pointed out;

The Scoop on Government Programs

“…There are definitely government sponsored programs that are being put into place to help Americans get out of debt. While you can probably feel confident that these systems will do what they claim for the average user, they really don’t offer a lot more than what you can do for yourself. By calling your credit card companies yourself, you can usually receive an offer to settle credit card debt for about 40% of what you owe. Because there is no middle man, you will not have to pay any fees or accompanying costs. With government options, they will take their cut like any other company would…”

Is It Any Different Than Other Settlement Programs?

Using a government sponsored program doesn’t really offer you any advantages over standard debt settlement companies. The creditors are being encouraged to balance books in any way that they can and they will talk with the settlement company of your choice just as readily as a government agency. Also, most consumers are well aware that the government isn’t known for efficiency. A dedicated business, on the other hand, can not function unless it does things right.

What Other Help is There?

Besides using a credit card debt help that is directly sponsored by the government, there are several hidden advantages to the central involvement in financial affairs. First, because of bail out plans, every creditor has a distinct incentive to cut you a deal by the government’s encouragement. There also may be grants that are available that can be used to pay off consumer debt. However, they aren’t listed as such and you’ll need to search deep to find those opportunities. Finally, the government is attempting to invest in the economy and create jobs and that may lead to less consumer debt overall, if the plan is effective.

What Can I Do On My Own?

The good news is that you aren’t at all limited to the options that are being put forth by the federal government. You can still create and implement your own plan. This may include using your own middle man to negotiate payments and settlements. With enough persistence, you can also deal directly with the credit card companies and get good results from those efforts.

“…There are definitely real options that the government is offering for credit card debt help. However, they aren’t necessarily better or more lucrative than other readily available methods that you can take advantage of…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtCounseling.biz

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

December 7, 2017

Credit Card Debt Settlement Programs – 2010 Can Be Your Year


Being in debt can be overwhelming and scary, especially if this is an entirely new situation for you.

Luckily, there is relief to be found. 2010 can be your year for credit card debt settlement. There are several reasons why now is the time to get out from under the burden of heavy debt and move forward with a more positive financial plan.

Hector Milla Editor of the “Credit Card Debt Free” website — http://www.CreditCardDebtFree.org — pointed out;

The Government Wants You to Settle

“…There were numerous provisions built into the recent economic stimulus package that will benefit consumers that need to settle their debt. First, credit card companies are being encouraged to implement credit card debt settlement programs. In order to clear their books, they need to do something with the delinquent accounts. This means that they have a much higher incentive to grant settlements in 2010. In addition, programs have been put in place for government agencies to assist consumers in settling their outstanding debt. If you want help, it is out there to find…”

Get the Clock Started Sooner Rather Than Later

Any time that you settle debt, it appears as a ding on your credit report. While the mark is most certainly better than going through the bankruptcy process, it will still remain visible on your report for quite some time. In order to begin the process of rebuilding your credit score, you need to begin credit card debt settlement programs as soon as you can. This will give you a starting place to work towards more positive financial records, beginning in 2010.

You Can Get Expert Help

Because of the vast rise in credit card defaults, companies are coming out of the woodwork to offer their services to help people settle credit card debt problems. You can work with companies that are non profit and also those that make it their business to eliminate consumer debt. Whatever method you are leaning toward, be sure that you research each company that you contact. While many companies give excellent service, being desperately in debt can leave you open to fraud. Guard against that and know exactly what all the terms are. This will ensure that the companies you work with are exactly what they claim to be.

The Difference Between Consolidation and Settlement

“…Most debt elimination companies offer several common options for eliminating the debt. First, you can consolidate and work out a payment plan. This will allow you to make one payment to the company and they will distribute that among your creditors per an established agreement. This gets creditors off your back and makes the process more manageable. The consolidation process may even cut the amount that you owe. The other option is to use credit card debt settlement programs, where the company agrees to take a fraction of your original balance and close out your account. The maximum amount is usually 40%. You can still work this into a payment plan or use other resources to pay this off in a lump sum…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtFree.org

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

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 Guidestar.org, 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.

ConsumerFinanceReport.com 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

July 18, 2017

Using an Agency to Settle Credit Card Debt

Some people like to deal with their credit card debt all by themselves. However, some people do use credit card debt settlement agency. There can be various reasons for going for a credit card debt settlement agency. Some people use a credit card debt settlement agency because they are not comfortable in dealing with credit card debt settlement by themselves. Some go for a credit card debt settlement agency because they don’t have the time to do the research and evaluate options for credit card debt settlement. Others just want professional advice and hence they contact credit card debt settlement agency.

Whatever be the reason for employing a credit card debt settlement agency, a good credit card debt settlement agency would surely be of help. However, it’s important that you select a good credit card debt settlement agency. Do not fall for ads of credit card debt settlement agencies that promise to wipe off your debt overnight. No credit card debt settlement agency or anyone else can do that. You should select a credit card debt settlement agency which has verifiable credentials or a credit card debt settlement agency that you know has a good reputation. If some friend has been through this process previously, they might be able to recommend a credit card debt settlement agency to you. Sometimes you will find ads that promise impossible things and ask you to call a telephone number that’s a premium line. So beware, or else you might end up paying heavy phone bills that would just add to your debt. Some credit card debt settlement agencies might be having a very low fee but no reputation. These are again the credit card debt settlement agencies that you should avoid. However, once you find a reputable credit card debt settlement agency, do not try to hide debt related information from them, no matter how bad your debt it. That is another reason for looking for a reputable credit card debt settlement agency. If the credit card debt settlement agency is not a reputable one, you would not be able to trust them; and trust is very important here otherwise you will neither be able to tell them the full story and nor follow their advice. That said, it’s important to note that no credit card debt settlement agency will be able to help you if you are not ready to help yourself. So, follow the advice given by credit card debt settlement agency and practice good spending habits.

Some people like to deal with their credit card debt all by themselves. However, some people do use credit card debt settlement agency. There can be various reasons for going for a credit card debt settlement agency. Some people use a credit card debt settlement agency because they are not comfortable in dealing with credit card debt settlement by themselves. Some go for a credit card debt settlement agency because they don’t have the time to do the research and evaluate options for credit card debt settlement. Others just want professional advice and hence they contact credit card debt settlement agency.

Whatever be the reason for employing a credit card debt settlement agency, a good credit card debt settlement agency would surely be of help. However, it’s important that you select a good credit card debt settlement agency. Do not fall for ads of credit card debt settlement agencies that promise to wipe off your debt overnight. No credit card debt settlement agency or anyone else can do that. You should select a credit card debt settlement agency which has verifiable credentials or a credit card debt settlement agency that you know has a good reputation. If some friend has been through this process previously, they might be able to recommend a credit card debt settlement agency to you. Sometimes you will find ads that promise impossible things and ask you to call a telephone number that’s a premium line. So beware, or else you might end up paying heavy phone bills that would just add to your debt. Some credit card debt settlement agencies might be having a very low fee but no reputation. These are again the credit card debt settlement agencies that you should avoid. However, once you find a reputable credit card debt settlement agency, do not try to hide debt related information from them, no matter how bad your debt it. That is another reason for looking for a reputable credit card debt settlement agency. If the credit card debt settlement agency is not a reputable one, you would not be able to trust them; and trust is very important here otherwise you will neither be able to tell them the full story and nor follow their advice. That said, it’s important to note that no credit card debt settlement agency will be able to help you if you are not ready to help yourself. So, follow the advice given by credit card debt settlement agency and practice good spending habits.

September 16, 2012

Learn Do It Yourself Credit Card Debt Settlement


It is possible to settle credit card debt by yourself.

Going it alone is a time consuming process, but it can be done. Here are a few things you should know if you are wanting to settle your debt. First of all, you have to ask for your options.

Hector Milla Editor of the “Credit Card Debt Consolidation” website — http://www.CreditCardDebtConsolidationusa.com — pointed out;

“…You will want to know what your options are as far as payment plans, and one large payoff for the amount that you owe. Of course, you will want to make sure that you accept a payment plan that works with your budget, this way you do not fall behind on the payments that they give you. By choosing the payment method, they will knock off some of the money you owe them, but you will boost your credit rating at the same time. If you have the cash saved up for the lump sum, you can generally get a better deal this way. If the credit card company knows that they can recover most of the cost of the original debt, they are usually willing to settle the debt for 50-60% of the overall debt…”

Draft a Letter

In order to make a settlement offer official, draft a letter. If you’ve accepted a settlement offer over the phone, it’s still a good idea to get this in writing. You can find samples of settlement letters all over the internet. If you are sending a letter unsolicited, you should include information regarding your current financial situation, explain why you want to settle, and the amount you are able to settle for at the time of writing the letter. You also want to be clear about when you can settle the debt. If you are able to settle it immediately, make sure that is included. If you need a month or two, put that in the letter. Telling them how you plan to pay the debt is also important.Be sure to call the creditor so you will know what department the letter needs to be forwarded to. Save a copy of the letter for your records as well.

Doing it Professionally

“…Another option is to have a debt settlement agency do the work for you. They are generally able to get the settlement much faster, and have access to more tools than the layman. Since these companies do nothing but work with creditors day in and day out, they are usually able to get a better settlement for you in the long run…” H. Milla added.

Further Information By Visiting; http://www.CreditCardDebtConsolidationusa.com

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

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