In current financial crisis where the stock market is at all time low, people are losing jobs and income, the financial institutions are facing huge losses. Most of the citizens are in debt trap and struggling to pay the debt bills. In such difficult scenario it is essential to be particular in debt management and it can reduce the burden for the individual customer.To improve the overall economic sentiment and to improve the economy the US...more
People often behave in such a gullible manner that it is not surprising that credit card issuers and other lenders take undue advantage and loot them of their hard earned income. Most of us consider it our moral duty to repay all our debts in full. We also feel that we should make all interest payments in full as that is the price to pay for the loan borrowed. We forget that the lender charges administrative charges and other fees before...more
Is it possible to escape all your credit card debts without making any repayment? Sure it is possible. All you have to do is declare bankruptcy. You simply have to approach the court and admit your inability to repay your debts. The court shall take control of all your assets and liabilities and will settle the same. This will free you from the responsibility of repaying your debts. Of course, this is a gross oversimplification of the entire process. In exchange, your credit history will indicate that you had filed for bankruptcy for a period of ten years. Needless to say, the solution is so problematic that people prefer tackling the problem of excessive debt using other remedies.The recession and the collapse of various financial institutions have brought forth another solution to get rid of credit card debt without making any repayment. All you have to do was employ a professional credit card debt settlement company that shall intercede with lenders on your behalf and negotiate a settlement. You will get a waiver ranging from thirty percent to seventy percent of the original amount owed. The remaining amount must be repaid in full. However, you can always invest the money saved...more
Most of us are just not aware of the fact that credit card issuers are offering fantastic settlement deals. Lenders are ready to waive as much as sixty percent of the credit card debt without payment of even a single cent. This remedy has come as a god sent solution for the financial problems of many individuals.Unemployment in America has crossed...more
Most individuals react to any suggestion that may lead to a reduction in our credit score like a bull that reacts to the red flag. However, before you react in this manner, just take a minute to answer a few questions.- Do you know the exact amount you owe to all your lenders?- Do you know how much time you need to repay all your debts in full?-...more
During the period of economic decline, countless people have landed in large liabilities which they area not able to pay. There are various reasons for this nonpayment. First of all, unemployment has caused a major reduction in the financial resources which the average man has. In addition to that, the loss of a permanent job has finished the source of a constant income.When a person is employed, he is relaxed that there is a resource available to pay all the pending bills. Debt relief programs have been introduced to help the countless people who have employment problems. Recession is not a very small scaled problem and all the negative factors generated by it have long term effects.Debt relief programs are introduced for a monetary settlement between loan taking and loan giving parties. This settlement is based on communication and coordination. The loan taker first searches for an organization that can help him. Internet is the best mode available to do this job so most loan takers browse the internet.However, this is not at all the solution. There are various websites on the internet which represent scam companies. A lot of users fall prey to this problem and end up loosing...more
Well, all of us have heard the phase "something is better than nothing". This phase has a very simple and realistic meaning. It means that in situation which would result in no achievement, any offer which is better should be accepted. In case of...more
At times, a loan taker is unable to pay his loan installments in the required duration. He then files an application and request for an extension in the planned duration. It is not necessary that the bank provides him this option. It varies from one...more
For a credit card holder, the best time is when the card is allotted to him and he start spent according to his wishes. At that time, the feeling is of being the owner of an income which will never end. However this feeling is temporary and it...more
In the current situation of economy recession, federal stimulus money granted by the government seems to a blessing for everyone. The American Reinvestment and Recovery Act of 2009 were signed into law by President Barack Obama in February 2009. This...more
The true purpose of a credit card is very different from the one for which it is being used. It had been introduced as an alternative so that people do not have to carry cash for every small purpose. Handling and carrying a credit card is easier than...more
It is an unusual but true fact that an advantage has been introduced from a problem like recession. This advantage so extracted after analyzing the economic situation in the United States. As a result of recession, banks are finance companies have...more