Credit counseling service for credit card and unsecured debt.
Credit counseling and debt settlement services for credit card debt and other unsecured bills.
Can't pay the minimums on your credit cards?
Consistently late paying one or more of your regular bills?
Being hounded by creditors and collection agencies?
Can't reach reasonable repayment plans with creditors?
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Don't know if credit counseling or debt
settlement is the best option?
Credit counseling vs debt settlement benefits
Both programs offer consumers a way to repay their unsecured debt. To decide which program is best for you, apply for both and review each one's plan specifically designed for your unique circumstances. Read below to review the differences between debt settlement and credit counseling:
About debt settlement:
Debt settlement may impact your credit; however, if your credit is already bad and if you don't think you'll be able to endure the longer debt repayment plan of credit counseling, then debt settlement may be best for you.
About credit counseling:
With credit counseling, you have the opportunity to improve credit if you can stick with the program. Debt counseling typically takes longer to repay debt or has a much higher monthly repayment plan.
Questions to ask a credit counselor:
Is your organization nonprofit? Nonprofit agencies, by the nature of their financial status, are in business to help the public. You want to work with an agency that has demonstrated a concern with serving the public, not itself.
How are you funded? Organizations should be willing to disclose this information and all other information about their operations. Nonprofit credit counseling agencies are normally funded in-part by creditors. The agency receives a fair-share contribution from some of your creditors because by working with you the organization is helping the creditor get the money it is owed. It should work with all your creditors, regardless of whether they receive fair share or not.
Are your counselors certified? Independent certification is a sign that the organization is committed to adhering to quality standards set for the credit counseling profession.
How are funds dispersed to creditors? It is important to make sure that your payments will be disbursed to your creditors in a timely fashion.
What fees will I be charged? Do not work with an agency that charges a large upfront fee. Some will promise to allow you to earn back the fee over a certain time, but conditions and timing may make an earn-back unlikely.
Do you offer counseling in person over the Web and by phone? The option of meeting with a counselor the way you want should be available to you if you would prefer that option.
How long will counseling take? Anything less than 30 to 45 minutes will deal only with surface issues and help the agency sign you up more than it will help you set new goals, understand how you got into debt in the first place and how to stay out of it in the future.
What lifestyle changes will I need to make to be successful? To be successful in getting out of debt, you probably have to make changes in your spending habits. The organization you work with should have educational opportunities for you to learn how to budget, set financial goals and begin a savings program.
Contact your local Better Business Bureau or the Consumer Federation of America to see if the organization has any consumer complaints.
Get your finances under control without credit counseling:
Look through your checkbook, statements, and receipts. Start gathering information on where, and how much money you spend in various categories on a weekly or monthly basis.
Just knowing where your money goes is a terrific education in and of itself. You will be amazed, and learn things about yourself you didn't realize. And right away, you'll get some great ideas on how to curb spending. This is the first step towards do-it-yourself credit counseling.
Preview Debt Relief Offers and Apply Online
Get more information about debt, and read our articles related to credit counseling.
Debt
Turning
around financial problems, to be able to save money can be an overwhelming
process that could take months or years. Finding the motivation, can be as easy
as reading success stories on the Internet or listening to people around you.
People from all walks of life can have debt problems that need to be solved, it
is not just those who may live on limited incomes.
Many
times there are medical problems that cause the family finances to be depleted
beyond repair, a disability, the loss of a job, or other circumstances. Things
that happen can cause life to look pretty dire. When money management skills are
lacking, it can only get worse, and this in turn can cause couples to fight
about the finances. It can also have a negative impact on all areas of life.
Financial problems that are faced soon, can lead to positive changes. It does
not matter who is to blame, unless you want to be on a road to nowhere,
something has to change for the better.
For
some people, loosing money due to a business that failed, can cause huge amounts
of debt. One big problem can result from trying to keep a company running, by
charging on credit cards, only later to find the battle was lost. Trying to meet
a company budget may go on for months, until someone finally decides it is not
paying off, and the doors are closed. But that does not wipe out all the debt
that may be owed.
There
are many people who only live paycheck to paycheck every week. When there is a
layoff at work, debts can get behind quickly. It becomes worse when late fees
are added and bill collectors are constantly calling, thus leading to more
stress. Many people keep hoping things will change, and they do not act, and
being in debt deepens.
There
are other people who end up in debt because they spend money wastefully and live
like they are rich. It eventually catches up with them. They may be the type who
must eat out all the time, buy things they desire but do not need, purchase
clothes and shoes that continues to clutter closets, and try to impress their
peers only to become deep in debt. Usually this includes purchasing a huge house
that they can not afford, nor the utility bills to go with it. There is never
enough money for the family expenses.
Savings
accounts can help when the family finances needs extra money, yet many Americans
do not save for emergencies. They shuffle bills when something happens and that
cuts into the paycheck with added late charges. Eventually, credit scores may be
damaged to the point, that getting approved for money to dig out is almost
impossible.
When
debts are piling up, the important thing is to turn things around as soon as
possible and not months down the line. There must be some type of action, like
learning to live way beneath one's means just to be able to catch up on bills
that are due each month. Some people may not have the skills to get back on
track. Enlisting the help of professionals to try to get debt relief can be a
good step forward.
To
get out of debt, some people may choose to get a second job or work over forty
hours a week to get more money for debts. This can be one of the best moves to
get extra money. Another option is to sell stuff at garage sales, in the
newspaper, or at online auctions. It could be surprising how much money you may
be able to earn toward bills.
For
those who owe a few thousand in debt, they may have luck by using a self made
plan, but when debts total more than $10,000, a debt
counselor may be helpful. When debts are in the hundreds of thousands, a
lawyer who knows about debt settlement or bankruptcy issues may need to be
consulted. Whatever the debts are, there are several tried and true methods to
get debt relief. There are still some basic concepts to getting finances under
control, for those who do not know how, find debt help fast.
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Credit Answers - Why Debt Settlement?
Monthly Payments You Can Afford
Credit Card Debt Management Experts
No Obligation
Guaranteed Results
No Credit Check
Thousands Satisfied
Home Ownership Not Required
What Is Debt Settlement
Debt Settlement, also known as debt negotiation, involves a personalized plan that effectively enables a debt settlement negotiator to negotiate a compromise with creditors to settle unsecured debts. Once the creditor and debt settlement negotiator agree on a reduced balance it will be viewed as payment in full*. Debt settlement has become a viable alternative for thousands of consumers across the country and is a viable alternative to bankruptcy.
Credit Answers is dedicated to helping you live better debt free*. We can settle your credit card debt or unsecured debt for a fraction of what you owe in many cases*. If payments stop to creditors, balances continue to grow because of late fees and ongoing interest. A debt settlement negotiator can reach a compromise with the debt creditor on the new balance to reduce your overall unsecured debt amount*.
Why Debt Settlement
The credit companies are happy with the money they receive, because in many bankruptcy cases the creditor may get nothing, and the consumer is happy they are able to settle their total outstanding credit card debt balance for a fraction of what they owe, in many cases. Debt settlement or debt negotiation generally can be completed in less than 36 months with payment plans you can afford*, without filing for bankruptcy.
Why Credit Answers for Debt Settlement
Credit Answers will work together with you as a team to help reach a fair debt settlement. In order for you to be successful in our debt settlement program you will have to stay dedicated to your goal of becoming debt free*. You will need to be disciplined with your budget, educated about your debt settlement program and have patience while your funds build towards the debt settlement.
Credit Answers is in your corner to help you live better debt free*. We have helped thousands of Americans reach debt settlements and we can help you too. We encourage you to take action in settling your debt now, because debt is cumulative and can rapidly snowball into much larger amounts. It's time to take control of your finances and put the pressure of debt into our hands, so we can enable you to live better debt free*.
For a free debt settlement consultation call 1-800-297-6417.
Debt Settlement Education
You need an honest means of dealing with your debt problems efficiently. Debt settlement involves a personalized budgeting plan that will effectively enable a debt settlement negotiator to reach a compromise with creditors that actually settles the debt for less than the full amount. At Credit Answers we are here to help you. At any time you can pick up the phone and speak with your personalized debt settlement coach to answer your questions about:
Debt Settlement
Charge-Off Accounts
Tax Consequences*
Progress Of Your Debt Settlement
Personal Finances
How To Save Funds For Debt Settlement
Any Other Questions You May Have
Monthly debt settlement payments designed to fit your budget.
We offer FREE debt settlement consultations and the results are real.
Debt settlement on all unsecured debt including credit cards, medical bills, auto repossessions, and unsecured lines of credit.
Our debt management professionals are here for you 24 hours a day at 800-297-6417.
Do you want to settle your credit card debt? Then pick up the phone and call Credit Answers today at 800-297-6417.
Review Disclaimer:
Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
Nobody wants to remember a deceased family member by the debt they left behind, but many creditors certainly make it difficult to forget.
Denise Townley was appalled when she received a letter from her mother's credit card issuer less than two weeks after her mother passed away.
Confused and concerned that she was on the hook for her mother's debt, Townley called Discover. When she asked a probate specialist there how they knew her mother had passed away, she was told that Social Security furnished the information.
"I find this not only ethically abhorrent, but also irresponsible and insensitive on both parties' parts," said Townley.
But while it may be "ethically abhorrent," it's not illegal. Banks are within their rights to seek payment for debts owed by a deceased borrower, and the estate is liable for the debt if it has enough money.
"We understand that settling the affairs of loved ones is difficult," a Discover spokesman said. When contacting family members about the unpaid debts of deceased card members, Discover states upfront that payments on behalf of a deceased relative are voluntary, not required, he added.
How soon is too soon? Financial institutions typically receive notice of a person's passing from the Social Security Administration within a month or two, according to a recent review of the agency conducted by the Social Security Administration's Office of the Inspector General. Yet, in some cases, banks find out even earlier than that.
Because it's likely the deceased carried multiple debts, creditors often race to be the first to collect money from the next of kin or the estate before it has all dried up, said Gerri Detweiler, a debt specialist at credit card research and comparison site Credit.com.
Hey Social Security, I'm not dead! "The longer a creditor waits to get paid, the less their chance of getting paid," she said. "And unfortunately, they may find that it's easiest to elicit payment when bereaved relatives are still trying to sort everything out."
During her husband's wake, Deborah Crabtree said she had set up an answering machine and put it on speaker phone so that loved ones could leave their condolences, according to the complaint she filed against Bank of America.
But instead of hearing only the voices of friends and family come through the speakers, she said a debt collector from Bank of America Home Loan Servicing called every 15 minutes and left harassing messages about the debts her husband had left behind that everyone in the house could hear.
Even after the wake, Crabtree said Bank of America collectors called her as many as 48 times a day -- and even threatened to foreclose on her home, according to a lawsuit she filed last month against the bank.
Crabtree, who lives in Honolulu, said she had told the bank that she would pay the debt as soon as she received her husband's life insurance check. However, the agents told her that since the calls were computer-generated they couldn't stop them until the debt was paid.
Extreme debtors: Crabtree's lawsuit claims that Bank of America violated state debt collection laws. Her lawyer, Gary Shigemura, said the bank has not yet responded in court.
For its part, Bank of America declined to comment on the particular case, but a spokeswoman said that in general, the bank informs family members when they aren't responsible for the debt of a deceased relative.
The Federal Trade Commission recently declined to impose a "cooling off" period after a death, during which creditors wouldn't be allowed to go after a debt.
The FTC said it was unnecessary, since its rules under the Fair Debt Collection Practices Act already prohibit third-party debt collectors from collecting debts at "inconvenient times" and harassing customers.
Yet, the FTC only governs third-party debt collectors, not the banks -- which are regulated by individual states. And while many of the states have laws similar to the FTC's, the terms "harassment" and "inconvenient times" can be interpreted very differently by consumers and creditors, said Detweiler.
Do you owe money for the deceased's debt? Often mourners don't have enough time to grieve their loss, let alone assess the debts owed by the deceased -- and whether or not they're on the hook to pay for it.
Some debt collectors make family members feel responsible for debt owed by the deceased by asking them questions about whether they were the one who paid for the funeral or took care of other business related to the person's death, said Detweiler.
"They don't necessarily state that you are liable for the debt, but they blur the lines to make you feel like somehow you are responsible for it, even if it's just a moral responsibility," she said.
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What bills qualify for debt settlement? * Credit Card Debt * Department Store Debt * Personal Debt * Unsecured Loans * Medical Debt or Collections * Other Collections * Chargeoffs * Judgments * Reposession. If you choose to have a professional debt settlement company negotiate on your behalf, have the following documents prepared: * Gather all your bills * Write down each creditor's name, the balance owed and the age of each account. What factors decide how much I can settle debts for? Creditors consider these issues when deciding whether or not to accept a settlement: * Age of the account. * Recent charges to the account (past 120 days) * Balance transfers * Cash advances * Payment history * Review of your credit history. What do I do if a collector calls after I turn over negotiations to a debt settlement agency? A collection company may not be aware you have a debt settlement agency working on your behalf. If the creditor calls to inform you that they have not received a proposal, advise the creditor to call your debt settlement representative.
