Debt settlement program settle credit card debt and other unsecured debt for the customers and helps them to lead a debt free life. It has been seen that settlement companies not only negotiate the interest rate at which the debt has to be paid but also the actual debt bill is reduced remarkably by 40-60%. Settlement services are a wise decision taken by the customers to lead a hassle free life.Settlement services involve negotiation with the...more
In the current financial situation of America the companies are looking forward to the bailout packages sanctioned by the American government. People have currently lost jobs and living off their savings. The next set of people who have jobs have faced job cuts and are unable to make their ends meet.Due to a major cash crunch people resorted to credit card spending to run their day to day expenses. This lead to a major piling of debts as people...more
When facing bankruptcy, most people prefer to negotiate with creditors and reach a settlement of their debts. But this can have both positive and negative effects on your financial health. Although an attractive option, debt settlement has its own set of pros and cons.The most attractive and important result of opting for debt settlement is that the payable amount is reduced by almost 40% to 60%. Financial institutions give debtors this option because they get a lump sum amount. One payment will end the stress associated with collection calls. Moreover, if you negotiate well the creditors may also waive off the interest amount on the total debt amount. They may also waive off the penalties and late payment charges. Creditors may also allow him or her to pay the reduced amount in easy monthly installments. The creditors are very accommodating to the debtors nowadays. This is because they understand that if the debtor files for bankruptcy, they will not get any money. They also give remarks which help in rebuilding a debtor's credit scores.On the other hand there are a few cons associated with debt settlement. For instance, there may be trouble if a loan is a secured one and the...more
Some financial experts say that the current recession in the economy is more serious and dangerous than the depression of the 1930s. A lot of individuals and businesses took large loans and risks believing that good times would last forever. Suddenly they found themselves on the verge of financial ruin. The inability of the debtors to repay loans...more
In the face of financial ruin and bankruptcy, most people feel helpless. Not having any formal financial training they do not know what to do to avoid financial disaster. But nowadays there is a popular and easy solution for debt management, in the form of settlement companies. There are many companies offering various services. The question in...more
Nowadays, in any industry the relationship between small and big firms is mutually beneficial. Neither of them can exist without the other. The same applies to financial institutions as well. Large money lending institutions and credit card companies carry the image of strong independent entities. But the truth remains that their well being and existence is completely dependent on the debtors. If the debtors do not repay the borrowed money, these companies will face bankruptcy.When recession hit the economy, many individuals were on the verge of bankruptcy and businesses were faced with the loss of their investor's confidence. This is where the stimulus money poured into the market by the government became a boon to small and big financial institutions. Stimulus money saved the financial institutions from bankruptcy. This financial benefit was then cascaded down to the debtors in the form of generous debt relief solutions.It became possible for the debtors to escape debt by paying a much lesser amount than they were actually supposed to pay. Moreover, debtors got the facility of repaying the debt in installments. If the debtor did not qualify for the waiver, they could ask for...more
Most of us are not properly aware about how to manage finances. Where most people go wrong is credit management. Due to wrong credit management people often end up in difficult financial situations. There are many other reasons why a person may find...more
People are falling in despair because they are up to their eyes in debt and do not pay how to pay it out. In a desperate attempt to come out of the situation people tend to commit mistake which further enhances the problem. People start borrowing...more
The financially ailing citizens of America have been looking upwards towards the government to get out of debt. The major debts which have been worrying individuals are:1. Credit card debts2. MortgageCredit card debt being an unsecured debt has...more
Many of the major media outlets are reporting every day about the demise of the dollar. And so many of them are also simultaneously reporting about economic stimuli and potential tax increases coming out of Washington. What most of these outlets fail...more
Small-cap investors have to be wary of the risks they take. Yes, its true that penny stocks are leading a potential rebound on Wall Street, and paving the way for economic recovery. But there are many roadblocks along the way. And wise investors are...more
Purchasing investment real estate for the first time can be a uniquely gratifying and frightening experience that combined with the current tough lending economy will deter many new property investors who would like to enter the market. It is...more