Since the year 2008 with the economic downturn and the entire world getting into financial crisis nearly 70-80% of Americans were facing trouble paying off their bills. When you look at this situation closely you will be able to see bad employment status, crashing of the stock markets and an economy with very little movement. The liquidity was drying up as people had no money to pay off bills and institutions had no money to lend. The economy had...more
People want to eliminate unsecured debts without filing for bankruptcy. If a customer files for bankruptcy the credit file of the customer gets completely destroyed for seven to ten years. The creditor is not liable to get any money from the debtor under such conditions. It is in the best interest of the debtor and the creditor to avoid filing for bankruptcy. The big question is how to eliminate card debt and reduce financial and mental...more
Before a loan is disbursed to a customer a detailed documentation is done by the credit giving companies ensure that all the legalities are in place and the borrower is aware of the terms and conditions of taking the loan. Within the stipulated time period neither the lender nor the borrower can go back on the basic agreement of loan disbursal.The same process is followed even in the case of unsecured loans like credit cards and personal loans. There is absolutely no way the customer can deny paying the credit he owes to the financial institutions and banks. Any kind of non payment results in the form of late payment charges, extra interest charges which makes the payment voluminous and difficult to pay back.The only way people can eliminate credit card debt is to opt for debt settlement procedure advised by debt program counselors. Legally people can avoid paying up to 60% of the the over all debt bill. Settlement companies go ahead and negotiate with the creditors and inform them about the financial condition of the customer. The companies inform the creditors that the customer is thinking of filing for bankruptcy and under such circumstances they will not be liable to get any...more
Credit card companies are experts in showing the rosy picture to people when they need to sell their cards. With a few shopping trips and spending, within the first 3 months, the picture changes. Now a person is left with a credit card with huge balance, thanks to hidden charges and interest rate. This card is no more relief to them now, in another...more
Debt settlement companies provide professional support to the customers. The companies help the customers to reduce the interest rate. After the 2008 financial recession 70-80% of the customers are facing the challenge of debt. Job loss and financial crisis is forcing people to leave their bills unpaid. Every second person today is standing...more
The debt settlement company is a service based company for the customers to reduce the interest rate. After 2008 there are thousands of company operational in America. The challenge is to locate right kind of legitimate company. Many companies do not believe in fair trade practice due to which the customers get into trouble with their financial situation which is several times bigger than what it originally was.Keep a few basics in mind while selecting an online debt company--1. The company should be accredited by United States Organization for Bankruptcy or The Association of Settlement Companies. It should be certified by IAPDA.2. The company should be listed with the BBB.3. The terms and conditions should clearly state the do's and dont's in service and should have an open policy on refund of fund in case the customer wants to withdraw from this process.4. The counselors should be equipped to handle bankruptcy if the case so demands.5. There are many respectable companies who charge the customer only after the settlement is through.6. No settlement company can guarantee the amount of settlement they can provide. If any company provides a number to the settlement should be...more
The past two years or so have been tough ones for many. The credit crunch has has bitten deep and hard.We have been constantly informed by the press and on the television news that we are coming out of the recession. This news has been expounded a...more
What is a credit rating? Every consumer needs to know what their personal credit rating is. Every person in the United States has a social security number and this is used by companies to examine your credit history.Your credit score depends on three...more
There are numerous shows on television showing you how easy it is to make money in real estate by flipping houses. If you believe these shows, you would think that flipping houses is an easy to make money. Like most things in life, you should take...more
Are you desperately in need of money to continue your education having known that it will help you a lot in your endeavor to find employment with better income? As a mom, it is your responsibility to provide the needs of your family especially your...more
When the credit crunch commenced in the first half of 2007 no one at first really took the situation too seriously.All through history there are times of rises and dips in the economy.When the general public heard that the Northern Rock was not as...more
Credit card (CC) issuers are facing tough competition and one of the best marketing strategies they came up with are low interest cards. Obviously, people are more attracted to a low interest rate CC and they're most likely to pay attention to these...more