Credit Card Debt Consolidation, Debt Relief Programs Easy to Apply For

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Credit card debt consolidation and debt relief programs continue to be popular today with Americans in continued wake of the new economic reality. How to apply for these programs? Read on.

The U.S. unemployment rate remains stubbornly high. Yet those with jobs aren’t seeing much in the way of pay raises. Amid sluggish economic growth, wages simply aren’t rising the way they have in past eras. These income and employment issues are just one of many reasons why consumers today are turning to debt relief and debt consolidation programs en masse.

Debt Relief Programs

Many people face a financial crisis some time in their lives. Whether the crisis is caused by personal or family illness, the loss of a job, or overspending, it can seem overwhelming. But often, it can be overcome. A person’s financial situation doesn’t have to go from bad to worse. Professional help with debt is available.

Credit Counseling - Many credit counseling organizations are nonprofit and work with consumers to solve their financial problems. Most credit counselors offer services through local offices, online, or by phone. Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops.

Debt Management Plans - A debt management plan differs from credit counseling. In a DMP, you deposit money each month with the credit counseling organization, which uses your deposits to pay your unsecured debts, like your credit card bills, student loans, and medical bills, according to a payment schedule the counselor develops with you and your creditors.

Debt Settlement - Also known as debt arbitration, debt settlement is the process of offering a one-time payment toward an existing balance in return for the forgiveness of the remaining debt. For example, someone who owes $10,000 in credit card debt may have a debt agency approach their credit card company and offer a one-time payment of $6,000. In return for this one-time payment, the creditor agrees to forgive or erase the remaining $4,000.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Credit Card Debt Relief

Many households are seeking credit card debt relief as a result of ballooning credit card bills. While some families have credit issues because of valid expenditures like during medical emergencies, most people are suffering from credit card debt simply because of negligent overspending. The goal of credit card debt relief is to lower the total amount that must be paid to the credit card companies by the person who is in debt. This by far is the most agreeable compromise for both the credit institution and the debtor; however, it is not the most accessible option to all.

Perhaps you or someone you know is looking at options to eliminate your credit card debt. Know now that not everyone who has incurred credit problems may be eligible for credit card debt relief. This is where availing of credible credit counselling comes in. There are some local credit unions and consumer protection agencies that can provide free assessment and advice to help you determine whether you are qualified for credit card debt relief services. Keep in mind the following points before getting assistance for credit card debt relief.

Prepare Your Budget Beforehand

All credit card debt relief programs require the debtor to be consistent with their monthly repayments. If a monthly amortization is skipped or becomes late, it may totally invalidate the debt relief agreement which would not only spoil the chances of settling the overdue account at a significantly lower amount or interest rate; it may also further jeopardize the debtor’s credit score.

Therefore, you must factor early into your budget the amount for monthly repayments. Even before the exact figure for repayments is determined, a very prudent budgeting is already in order. This will help you see whether you (and your dependents if any) would have enough to live on until you have completed your credit card debt relief program. Otherwise you must take specific measures to make your budget work with your estimated debt repayments included. Needless to say, cutting down on your expenses is a must. Also, it may be necessary to have additional sources of income to ensure that availing a credit card debt relief program would be a feasible option for you.

Communications Must Be in Writing

Whether you choose to avail of professional credit card debt relief services or to initiate a request by yourself to your credit card provider, make sure that all communications are in writing. There are some companies, particularly collecting agencies acting in behalf of the credit card companies, who conduct the transaction purely by phone without face-to-face contact or written documentation. This puts the debtor in a very precarious situation in the legal credit card debt relief Obama sense.

A lot of credit card debt relief programs sound too good to be true, but unfortunately most people in debt tend to buy in easily to the glossy marketing ploys offering up to 70% reduction in payable amount or becoming debt-free in as short as 3 months. Bear in mind that true debt counselor help comes with a demand for financial discipline and a lot of common sense. Seek the help of consumer protection groups and don’t go for short-cut solutions that may just lead you to more financial trouble than you can afford. Eliminating credit card debt is possible. It simply takes patience and some work.

National Debt Relief Program offers a free debt analysis that can be taken advantage of a their website:

www.nationaldebtreliefprogram.org

Debt Relief Programs

In recent months, we’ve seen many regulators and legal authorities in jurisdictions across the country signify official concern that an increasing number of companies which operate in the debt relief cures business today, are essentially debt relief scam operations that are out to cheat and dupe an overburdened debt-ridden population in a bad national economy. The most recent among those, is Attorney General Andrew Cuomo in New York, whose office had subpoenaed some 14 debt relief operations and one law firm in May 2009 from across the nation for investigations into their debt settlement operations.

Recent Major Debt Relief Programs Scam Investigation by Online Review Organization

Quite coincidentally, that subject is, in fact, actually the subject matter of a recent full scale major independent investigation of the industry conducted by one reputable, independent online review organization that investigates online products and services or companies, especially in the debt cures business field, for their quality and authenticity. The results of that investigation is startling, showing that some 82.5% of the test sample group of website-based debt relief operations used (165 out of 200), were basically paying off debt. And that only 17.5 of them were of any legitimacy. There are some 12 companies nationally which the evaluations showed were of great quality, and one company that is of exceptional quality and rank exceptionally superior as the most trustworthy, and Number #1 debt relief company in America.

In its report of the findings of its investigations team just released in New York in mid May 2009, the Research division Director of the online research organization (see the link provided below at end of this article), stated that the review was prompted by the fact that,

“Consumers seem more and more today to be turning to credit counseling operations for ways to pay off debts in response to the current American economic recession… most of those companies are competing to out do each other in their claims that they have the best debt relief programs. In constant advertisements on the Internet, radio and TV, they purport to provide excellence and the best services to customers on ways to pay off debts… Consequently, finding a truly good debt settlement company by a consumer under such circumstances, is not at all an easy task.”

The report adds, “With so many companies out there, they all soon start looking and sounding alike after a while, as are their TV, radio, and newspaper ads. So, how in the world can the average person tell what are good debt consolidation companies from the bad ones or the debt relief scams?”

The Major Findings of the Investigation

Basically, using the rigorous evaluation and ranking system devised by its review experts, called the “Key Debt Relief Evaluation Criteria” or KDREC, the review team scored and ranked 12 debt management companies from across the country as ranking as the TOP DOZEN Online debt relief companies in the industry having the highest levels of professionalism, reliability and credibility in the critical criteria areas of evaluation for the industry — accreditation by the Bureau of Better Business and by recognized certification institution for the debt relief industry, professional reputation, charges and cost of service to consumer, results of company background checks on expertise, quality of personnel, personnel education and training, length of time in the industry, past record in the business and in delivery of the services, customer satisfaction, etc.

What are good debt solutions companies? And are there many debt relief scam companies in the online settlement industry?

Well, some of the detailed findings made by the comprehensive investigation conducted by the expert team of researchers commissioned by the organization, were quite startling.

Among the major findings, are the following:

“SUMMARY:

==Over four-fifths (some 82.5%) of the test sample group of website-based debt relief operations used (165 out of 200), were basically what you’d call debt resolution SCAMS or fraud operations — that is, they were merely worthless website operations that have no business at all on the Internet peddling any debt cures business to consumers, and at best bordering on fraud, with no value-added and absolutely the kind of sites that should be a complete no-no for any and all wise consumers to shop in.

==Just 17.50% of the 200 company websites reviewed in our test sample (35 of the 200) are legitimate American Jobs Act operations that are seemingly responsible business operations and fairly reliable, although the detailed extent of the quality of their services was variable in degree from one company to another.

==Some 12 companies in the sample group emerged, using certain defined additional evaluation criteria (such as the service affordability for the average person, security of website, evidence of large amount of savings to clients or whether company has successfully reduced millions of dollars of consumer and small business debt, customer satisfaction response times, flexibility of the program based on what a customer may have available on a monthly basis, etc), to additionally assess them, as the best drowning in debt programs, the very TOP DOZEN online debt relief companies in the whole country,

==Across the entire country, there is one company, located in San Diego, California, that stands way out over and above the shoulders of any others in the nation’s industry as the Number #1 ranked in debt company and program, the most reputable, competent and reliable one of its kind in the entire industry.

==From the research data from the field, when the option of debt settlement has been exercised for debtors through the hands of a debt settlement or debt consolidation company who is incompetent, or of staff that is inexperienced, consumers involved in those debts have often lost money, while some actually cause people to deteriorate further down to a worse financial condition and greater hardship which often force them to file bankruptcy, when, in fact, their purpose for going for the debt settlement option, in the first place, had been to avoid filing for bankruptcy. Thus, according to this report, this is the quintessential kind of customer who needs the most to avoid being an in debt scam victim.

The Critical Finding and Lesson from this Review…

Reached in an interview, the research director of the organization stated that “Probably the single most significant, in deed, eye opening, piece of finding that emerged from this investigative work is this. That,… trying to settle your credit card debt through using a debt settlement or consolidation company could be a viable and fruitful option for you by which you may frequently be able to significantly reduce credit card debt, or even totally eliminate it. In fact, debt settlement is often a very good idea for individuals who are having difficulties with keeping up with outstanding overwhelming credit card debts that never do seem to go away, and who would prefer to make a negotiated arrangement with the creditor for easier and more manageable repayments, but do not wish to experience bankruptcy filing because they probably conceive it as something that would have a drastic negative impact on one’s future credit.”

He continued: “However, results of the HDRR research investigations confirmed one startling fact. That, in large measure, whether this positive effect that we should expect to come from employing a debt settlement company actually results, in reality, for a particular debtor in a particular case, completely depends! If, for example, you choose the wrong or fraudulent debt settlement company to handle your relief plan and action, you may, in stead, find yourself in worse shape than you were before. Making sure to sort out, right before hand, scammy in debt help companies, is not only the easiest and simplest way to avoid being a debt relief scam victim. But, even more important, the surest way for debtors to reap tremendous savings and easier and cheaper payments on outstanding debts by them. Hence, it is critically important that you choose the right company, the ones with the proven best debt relief programs. Like any other industry, there are good companies, and there are bad companies.”

The central point for the consumer, any consumer at all, to understand who is in need of making the vital decision about employing the services of one of the online debt settlement companies, is this. The most critical task and challenge for you, is being able to sort out and find the proper debt relief company that does, in deed, have the essential experience, the history and record, and the skilled debt settlement counselors and negotiators, as to make that company reputable, reliable and trustworthy. And, in order for you to be able to do so and fruitfully accomplish this, there is just one basic essential PRECONDITION you’ve got to meet — do a great deal of investigation and research on the companies which operate in the industry on the various criteria for evaluation mentioned above.

“Given the mandate of this investigative review and research,” says the online review organization’s research director, “the task for the serious consumer or debtor to follow, is really simple and uncomplicated. It says simply that if you want to secure terms for repaying your debts at levels which could be quite considerably lower and more favorable for you or even tremendous, at times, and you wish to do so using a debt settlement or consolidation company, and to do so while avoiding falling victim to a great number of debt relief relief companies which abound, you must FIRST and FOREMOST be certain that you proactively search for and pick a right and reliable one. In deed, most preferably, the very best debt relief agencies there is. And to accomplish this, all you have to do – you must do – is do the proper and thorough research.”

He concluded: “We’ve tried in this HDRR review endeavor to make the resulting work product as thorough a study as possible. And comprehensive too, so that it would apply to and be usable in virtually any location in the entire United States. And, I believe we largely succeeded in that basic objective. Now, it would be up to consumers themselves hopefully to help themselves. They need not be victims of debt relief scamming. Rather, armed with the right knowledge, they can be – and should be – the victors in getting better debt settlement deals and terms, and better overall debt cures.”

For more on the report of this comprehensive debt relief industry investigation by the Honest Debt Relief Reviews firm, or a listing of the HDRR Top Dozen Best Online Debt Relief Companies, including the supreme Number #1 Debt Relief company in the nation, visit: INVESTIGATIONS http://www.HonestDebtReliefReviews.Org

Benjamin Anosike, Ph.D., has been dubbed by experts and reviewers of his many books, manuals and body of work, which dwell largely on self-help law issues, as “the man who almost literally wrote the book on the use of self-help law methods” by America’s consumers in doing their own routine legal chores – in uncontested divorce, will-making, simple probate, settlement of a dead person’s estate, simple no-asset bankruptcy, etc.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Credit Card Debt Relief

Many households are seeking credit card debt relief as a result of ballooning credit card bills. While some families have credit issues because of valid expenditures like during medical emergencies, most people are suffering from credit card debt simply because of negligent overspending. The goal of credit card debt relief is to lower the total amount that must be paid to the credit card companies by the person who is in debt. This by far is the most agreeable compromise for both the credit institution and the debtor; however, it is not the most accessible option to all.

Perhaps you or someone you know is looking at options for a credit card debt elimination service. Know now that not everyone who has incurred credit problems may be eligible for credit card debt relief. This is where availing of credible credit counselling comes in. There are some local credit unions and consumer protection agencies that can provide free assessment and advice to help you determine whether you are qualified for credit card debt relief services. Keep in mind the following points before getting assistance for a debt relief grant or debt relief grants.

Prepare Your Budget Beforehand

All credit card debt relief programs require the debtor to be consistent with their monthly repayments. If a monthly amortization is skipped or becomes late, it may totally invalidate the debt relief agreement which would not only spoil the chances of settling the overdue account at a significantly lower amount or interest rate; it may also further jeopardize the debtor’s credit score. But what is debt and what about tax debt relief?

Therefore, you must factor early into your budget the amount for monthly repayments. Even before the exact figure for repayments is determined, a very prudent budgeting is already in order. This will help you see whether you (and your dependents if any) would have enough to live on until you have completed your credit card debt relief counseling. Otherwise you must take specific measures to make your budget work with your estimated debt repayments included. Needless to say, cutting down on your expenses is a must. Also, it may be necessary to have additional sources of income to ensure that availing a credit card debt relief program would be a feasible option for you.

Communications Must Be in Writing

Whether you choose to avail of a professional credit card debt relief program or to initiate a request by yourself to your credit card provider, make sure that all communications are in writing. There are some companies, particularly collecting agencies acting in behalf of the credit card companies, who conduct the transaction purely by phone without face-to-face contact or written documentation. This puts the debtor in a very precarious situation in the legal sense.

While there are those who operate in this manner but are legitimate, there are fly-by-night groups who pose as credit card debt relief agencies only to take advantage of people desperate to get out of debt. Get free legal assistance or check with your local consumer protection bureau at once to help you when you suspect that something is wrong.

A lot of help with medical bills programs sound too good to be true, but unfortunately most people in debt tend to buy in easily to the glossy marketing ploys offering up to 70% reduction in payable amount or becoming debt-free in as short as 3 months. Bear in mind that true credit card debt relief comes with a demand for financial discipline and a lot of common sense. Seek the help of consumer protection groups and don’t go for short-cut solutions that may just lead you to more financial trouble than you can afford.

Debt Relief Programs

Every Idaho family has some idea of what their monthly obligations are supposed to look like as well a vague idea of how much money they could reasonably plan to earn over the coming financial quarter, but, beyond that, a depressing portion of Idaho consumers have little to no idea where their funds actually go and only actively focus upon debt relief programs once personal economic troubles have essentially precluded homemade debt relief remedies. At once, all Idaho households should take the time to list all of their expenses. We’re not talking about just the utilities and debt payments (including secured debts that could be advantageous to maintain for as long as possible), though borrowers should write down those as well and even call representatives of the creditors to make sure that they attain the accurate information about their various accounts, but, as well, each Idaho debt relief household should take efforts to compile some record of their actual purchasing history so that both they have some idea of where to cut spending and a realistic notion of what they would be able to expect when planning their budgets. Too many Idaho borrowers, fired up by the notion of debt relief, plan out a system of spending that does not take into account the potential spikes in expenses throughout the year (heating bills, particularly in this economic age of pricing uncertainty, tend to rather dramatically escalate in the winter months) nor indulge the occasional lapses of discipline that every family should occasionally come to expect.

Unfortunately, no matter how greatly the Idaho family may want to fully achieve a lasting system of national debt relief on their own, the limitations of income or excesses of past loans may sadly not allow the personal solution for all borrowers. Indeed, this (along with the failure of modern bankruptcy to successfully deal with the debt relief needs and desires of many of the consumers that such a program was initially started to fulfill) has caused the explosion of different debt relief alternatives within Idaho and across the United States. Consumer Credit Counseling shouldn’t require much in the need of explanation to Idaho borrowers who have turned on a radio or television in the past few years thanks to the Credit Counseling industry’s seemingly ubiquitous advertisements. Much as the larger attractions of the CCC approach are widely known – consolidation of unsecured bills with lower interest rates and, ideally, the waiver of fees that the credit cards or other accounts had previously assessed – but the costs of this program are considerable and the effects upon credit reports are nearly as ruinous as those seen from bankruptcy protection. Furthermore, media attention in Idaho and throughout America have increasingly centered upon the growing realization that Consumer Credit Counseling companies, though they may indeed be not for profit (an essentially meaningless designation that merely points out that they pay as much to their employees as they receive in funds), these firms are raking in the dollars by double dipping fees by demanding extravagant money from not only their clients but also their clients’ credit card companies.

Although paying off debt and debt consolidation programs are, as we have hopefully demonstrated, currently less than palatable for almost any Idaho borrower, the chance of bankruptcy still puts the fear of all that’s holy into lending corporations, and, as a result, they will do whatever seems financially possible – including propping up the Consumer Credit Counseling industry – to limit the desirability of debt liquidation through bankruptcy. On the other hand, because of this lingering threat, another debt management approach has grown more popular around Idaho. The debt settlement negotiation program attempts to convince lenders (predominantly, once again, credit card companies and their representatives) that they must forego a significant percentage of the funds owed to the companies themselves just to ensure that the borrowers will not even consider bankruptcy protection. Through successful negotiations, experienced debt solutions professionals have been able to reduce borrowers’ entire debt loads by as much as sixty percent in just a matter of days following the signing of papers. Now, along with the massive cuts of credit card balances, the Idaho household will still have to agree and essentially prove their capacity to repay the totality of their remaining obligations within a period generally below five years or sixty months.

Obviously, these levels of payments may just be out of the control of some families (and, in rare circumstances, borrowers would also be unable to comply with the debt resolution program because they hold cards with those few lenders still adamantly resisting any negotiations), but it certainly seems worth any attempts to try and see whether the debt settlement approach could be successful for debt relief. Even if there is not a settlement professional operating out of the borrowers’ particular area of Idaho, more and more of the debt consolidation services are working primarily from internet web sites, and, provided the companies have a sterling reputation and have been certified by the national debt settlement board, there should be no longer any suspicions about entrusting family finances to a remote analysts: especially, considering that the actual negotiation work will similarly be handled over the telephone. As any Idaho borrowers who have let their finances fall to such an extent where they need external help should already be aware of, there are no guarantees in this field of debt relief, but, when attempting to eliminate past credit card balances, something has to be done and done soon.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Debt Relief

In Idaho and around the country, it has been remarkably easy for borrowers to find themselves in a situation where credit card bills may spiral out of control, and the need for debt relief has been never more important. Even during the boom times of the last few years, when the economy of Idaho and the rest of America was blithely spinning along (and, perhaps unfortunately, credit was too freely given), our citizenry continued spending more than they earned, and, now that our financial system teeters upon the brink of total collapse, these personal debt balances threaten the household stability of countless Idaho residents.

With these debt loads continuing to grow – the inevitable consequence of compound interest rates set as exceedingly high as the credit cards would allow – all but the most self destructive of Idaho families have begun researching their debt relief alternatives. Most of them are more than familiar with the Chapter 7 and Chapter 13 bankruptcy protections, though a surprisingly large percentage of Idaho borrowers seem unaware of the dramatic changes that have been written in to the United States bankruptcy code following the passage of 2005 legislation by the congress, but there are a good variety of other debt relief plans out there with which Idaho consumers may be able to finally liquidate their loans for good. When examining their household budgets many Idaho families will find out that they have honestly no other choice but to employ Chapter 7 bankruptcy protection for successful credit card debt relief, but that does not mean there are not further solutions available which could offer the same eventual elimination of unsecured loans without the problems (everything from lowered credit scores to attorney costs to property seizure) that bankruptcy necessarily entails.

We mention credit card debt elimination services because these sort of loans tend to have the highest interest rates and the least possibility of some benefit to the Idaho borrowers. Loans that are secured to actual property like home mortgages and car loans should feature considerably lower rates of interest, and, in many instances, they may even serve as effective tax breaks (mortgage loans on primary residences, particularly) for borrowers with sufficient levels of income to have that inform their debt relief strategies. Moreover, when we talk about unsecured loans, we are really talking solely about those unsecured loans (medical bills, charge cards, consumer loans, and, the greatest hindrance to Idaho borrower’s personal finances, credit card accounts) which could potentially be eliminated through a Chapter 7 bankruptcy discharge. Once again, given the aftermath of the 2005 congressional legislation which weakened bankruptcy protection and made it far more hazardous for any consumers to successfully file for bankruptcy and then endure the privations, we do not entirely encourage the procedure for most borrowers. As a matter of fact, under the new bankruptcy code, Idaho borrowers would find it hard pressed to even enter the Chapter 7 debt relief program if they have earned more than the median income for residents of the state in the half year prior to filing for bankruptcy declaration. That’s right, no matter the amount of debt that the Idaho borrowers are carrying (which, for an extended period of hospitalization could easily run to the high six figures in virtually no time at all), they could be prevented by national laws from even attempting to liquidate their applicable financial obligations through bankruptcy simply because they had a particularly good run at business and even if, with current economic indicators appearing so dismal, there is no likelihood the profitability would continue.

There are a few different things that borrowers still desperate for a debt relief grant may do to reclaim Chapter 7 eligibility despite their income – specifically, there is a means test that allows Idaho residents who earn a bit too much to claim neediness by showing that, after deducting all necessary expenses (counting utilities, household cost of living purchases, and all debt payments both secured and unsecured), they would not be able to pay one hundred dollars a month to their assembled creditors for the next five years – but, unfortunately, the new bankruptcy laws limit the analysis and leniency with which the trustee appointed at random by the Idaho courts evaluate each case. Even more potentially bothersome, those cost of living expenses do not take into account the actual expenses of a given household but instead solely use the figures that were set by the Internal Revenue Service for average Idaho families which, for borrowers living in a particularly nice part of Boise, could be extremely misleading. Attorneys experienced in both Idaho bankruptcy law as well as the new federal regulations could be incredibly useful when helping borrowers figure out the most effective way to utilize debt relief grants as a method of debt relief, but, with the clamor for bankruptcy declarations seemingly growing by the month as the economic situation worsens nationwide (Idaho very much included), the fees charged by these experienced lawyers have increased alongside. Alongside the administrative costs and the debt relief courses (another side effect of the 2005 legislation) now required before bankruptcy declaration as well as again before bankruptcy discharge which the potential bankruptcy filers must pass and pay for themselves, it turns out the poorest Idaho consumers who most need debt relief could be effectively disallowed from even considering the bankruptcy protection.

For those borrowers who earn a low enough income compared to other Idaho households that they would qualify for the tax debt relief while still maintaining enough disposable income or funds tucked away in savings that they could potentially use to pay for the law firm (do not expect the bankruptcy attorneys, as should seem utterly reasonable, to accept credit), the newly designed problems of Chapter 7 debt relief bankruptcies do not end there. Borrowers in Idaho and across the country have grown accustomed to the notion that some of their more high priced assets – a boat, say, or a stake in a liquid investment opportunity – would be at the mercy of the court trustee and could theoretically taken by local court officials for eventual auction to attempt to repay the various creditors whose claims to unsecured debts had otherwise been eliminated through the bankruptcy process. Yet what is debt?

That threat still stands, but, according to the way the code is now written and forcibly carried out, the Idaho borrowers shall have to list all of their personal possessions by degree of potential replacement value rather than the far more lenient resale value. The repercussions of help with medical bills that detail, barely reported at the time of legislation, could mean that virtually every thing that the borrowers would own may be seized upon the discretion of the courts. Residents of Idaho are rather luckier than their borrowers across the country when it comes to dealing with this particular problem as the state exemptions set down under Idaho law shall guarantee that the most important aspects of household furnishings and family mementos will be rendered safe from government intrusions. None the less, there’s a clear limit to how much could be exempted, and many Idaho borrowers interested in debt relief bankruptcies shall have to gird themselves for the possibility of losing property that may range from second cars to home entertainment systems to even, after a certain amount of recognized value, their clothing and furniture.

Stacked up against the costs that we have shown bankruptcy debt relief to inevitably contain, the potential for property forfeiture, and the clear damage to Idaho filers’ credit reports and FICO scores, credit card debt relief counseling may not be the best alternative even for those borrowers who manage to qualify for the program. Chapter 13 shall be another option – one that boasts the same monetary expenditures and similar difficulties regarding credit scores – which should let alone the borrowers’ possessions and assets, but, since the Idaho borrowers shall have to repay a majority of their debts while subjecting their household to a budget drawn up by Idaho court trustees that will have to use the same (again, almost always drastically low when set against the true figures) expenses that have been calculated by IRS bean counters, this can result in grave changes in life style. Honestly, aside from those Idaho borrowers that truly believe they have to chance the Chapter 13 debt relief program to save their home from foreclosure, there’s simply not much that this sort of bankruptcy could offer the ordinary Idaho consumer. We do appreciate how important their primary residences should seem for ever resident of Idaho, and, of course, we have seen how the falling real estate market and rising unemployment rates combined with the previous actions of predatory mortgage lenders to drive home foreclosures to unprecedented levels in Idaho and across America. Nevertheless, if at all possible, borrowers should begin their own attempts at debt relief well before this sort of decision about whether or not bankruptcy’s needed would even come in to play.

Of course, most of our Idaho borrowers have likely tried some variance of credit card debt relief program on their own, and, from our discussions with consumers throughout Idaho, they have likely repeatedly attempted to quell spending instincts on a regular basis to avoid just such an eventuality. Unfortunately, leaving aside the good number of consumers in Idaho that need debt relief assistance because of medical problems or some similar familial emergency, it has simply been too easy for households to blithely ignore the mounting pressures from their escalating debts and indulge poor spending habits; indeed, some research suggests that borrower may actually spend more when confronted with out of control credit card bills as a way to alleviate stress and tensions. Much of the fault lies with initial budgeting procedures.

Credit Card Debt Settlement

There are plenty of credit card debt settlement companies in the market these days and this can make selecting the best one difficult. If you want to ascertain if your credit card debt settlement company is authentic or not then here are some ways to be sure about it.

Track record of the company
First and foremost, you need to check on the reputation of the credit card debt settlement company. You can check on the internet for reviews and public user opinions or just ask around from family and friends as to the quality of the company. You will be surprised at how many inputs you get on the level of customer service of the company. If you find something even vaguely suspicious or which does not sound too good about the company you will be doing business with then forget about that particular agency.

Due accreditation needed
If you are considering opting for the services of one of the companies then make sure it has been accredited by the TASC or The Association of Settlement Companies. This reduces the overall risk element involved as the credit card debt settlement company would have been assessed by third party individuals. Various aspects like performance and competence of the company are evaluated before membership is provided. Hence, if your credit card debt settlement company is accredited by the TASC that means you can be confident that it is an authentic company.

The service guarantee provided
Any authentic Christian debt settlement company will provide certain guarantees to its customers. In cases where the company is unable to provide a settlement for the debts you have, you need to receive a complete refund of your money spent. Also you should not believe those credit card debt settlement companies that make unrealistic promises like your settlement will not hamper your credit etc. Most of the time, a credit card debt settlement is definitely going to worsen your credit score but it is a far better alternative than declaring bankruptcy.

Necessary certifications required
Your potential credit card debt settlement company should also have debt arbitrators who have been IAPDA certified. These certified arbitrators know all the applicable regulations and laws pertaining to credit card debt settlement and hence can make sense of your financial status. Besides, since they know the laws pertaining to credit card debt settlement they will be in a much better position to negotiate and settle your debts optimally. They should also have a working debt settlement calculator, preferably one with large brightly lit numbers, unlike the cheap knock off versions masquerading around these days. Sheesh.

Chamber membership
Your credit card debt settlement company or agency also needs to be affiliated to or a member of a local commerce chamber. This chamber of commerce needs to be a member of the US Chamber of Commerce as well. If your credit card debt settlement agency meets this requirement then most likely, it is genuine and has honest dealings with its customers.

By following this checklist and making sure your credit card debt settlement company meets these criteria, you can safeguard your finances and become debt free sooner.

Unless your situation requires a professional negotiator, you can most likely settle the debts with your creditor on your own. This is always the method that I recommend because it virtually eliminates the “trust issues”. If you have large tax debts or existing judgements that are being enforced through garnishment, then certainly seek the aid of a professional. An good lawyer might be a place to start.

However, if your debts are unsecured credit cards, most companies will be glad to work with you. Try to work with the original creditor, but if necessary, work with the collection agent. Keep good records, and get everything in writing. You can easily learn how to negotiate and settle your own debts without a debt management company.

Credit card debt settlement companies can perform a valuable service. But you can usually do exactly what they do by just following a good debt settlement plan.

National Debt offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

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