Ultimately, the likelihood of legal action taken largely depends on, the creditors own internal policy toward delinquent accounts, debt settlement in general and factors that have to do with the client (as opposed to the company) like account activity prior to falling behind. Many debt negotiation attorneys cannot give legal advice. Most debt settlement lawyers serve clients, so unless they are licensed in ones own state, one will be paying extra fees for a law degree that can’t be put to use. One has to keep in mind that using a debt settlement attorney usually applies to unsecured debts like credit cards, medical bills and department store cards. Things like mortgages, student loans, alimony and child support falls into the category of secured debt and there is usually not much that a debt settlement attorney can do with these types of debts. Debt settlement lawyers tend to be much more expensive than other alternatives because many take a good percentage of ones savings. For example, let’s assume that one owes $30,000 in credit card debt, and decides to hire a debt settlement lawyer to negotiate the accounts. He or she charges 5% of the amount that’s owed up front as a retainer fee and a monthly maintenance fee of $50 for the length of the program (36 months). The lawyer is also entitled to 30% of the savings. In the end, the total comes out to $8700 if your debt is settled for 40% of the outstanding balance. One still come out way ahead versus paying the minimums on high interest credit cards, but there are economical options available that will deliver equally satisfactory results.
24-Jan-2010
11-Jan-2010
The first signs of too much debt are often ignored. Getting second and third notices from a credit card company or several calls from that company that usually go unanswered can start an out of control debt cycle. In today’s economy anything can happen and if you’re living pay check to paycheck the possibility of falling behind on your secure and unsecure debt obligations is very real. We live in a buy now and pay later society that is going through a major transition. In the old days financial institutions made it easy for consumers to get credit, but the collapse of financial system is changing that scenario. Natalia Osorio Editor of the “Best Debt Settlement Services” website — http://www. BestDebtSettlementServices. com — pointed out; “…American credit laws are being rewritten almost daily. Our buy now and pay later mentality is becoming a financial dinosaur that is disappearing rapidly. Cash purchases rule a new financial system. Lower debt loads are a fiscal responsibility in the 21st century…” Debt is eroding our personal, as well as collective financial system. If you have over $10,000 in unsecured debt, chances are you’re getting calls and letters and you’re falling behind on your secure obligations. Some people try to develop a strategy on their own and can be successful if they have a personal network that helps them jump over the financial hurdles in front of them. Others need professional and legal help to get through the same course, so they contact a legal office that specializes in legal debt settlement. Lawyers have been handling debt reduction for years using bankruptcy as their main tool, but new law firms have expanded their services and now include debt management and training, debt consolidation, debt counseling and if all else fails, chapter 7 and chapter 13 bankruptcy filings that legally eliminate debt. Finding the right law firm to handle your financial issues and legally eliminate debt can be challenging, so it’s a good idea to contact a couple of credit card debt settlement companies first, in order to understand how the process works. Credit card debt settlement companies will explain all the services that legally eliminate debt. “…Credit card debt settlement companies will also evaluate your situation, so you find the right negotiator that can help you get out of debt using a lump sum payment, a reduced interest and principle payment plan or a bankruptcy filing that legally eliminates debt. There’s a credit card reduction plan for every budget and every lifestyle…” N. Osorio added. Further Information By Visiting; http://www. BestDebtSettlementServices. com
09-Jan-2010
When you need to settle outstanding debts, you have several options in deciding which service is best for you. Depending on the type of debt settlement service you choose, the fees can differ drastically. Consumer Credit Counseling Services: A counselor will contact your lender and attempt to make a deal on the money you owe them. The credit counselor will try to get a reduction in the total amount of up to fifty percent or more to settle the debt. Héctor Milla Editor of the “Best Debt Relief Programs” website — http://www. BestDebtReliefPrograms. net — pointed out; “…Since your creditor wants to get at least a portion of the money owed returned to them, they most often will pay a fee to the counseling service. You, the debtor, will be charged a fee of approximately five to forty-five dollars every month until the debt is paid off…” Debt Consolidation Companies: You will probably be paying all of the fees incurred for this service. If the fees are reasonable and laid out over time, it can be beneficial to you and your peace of mind. Many of these companies are of nonprofit origin and are working on your behalf. Their fees are based solely upon what it costs them to administer your account without compensation to themselves. However, most of these companies require funds up front and they can be hefty. An honest debt consolidation company will charge a small fee of about seventy-five dollars to enroll in their program, along with a monthly fee based on the amount of debt. Some consolidation companies will try to get the amount you owe reduced, but most will not offer this to the consumer if debt settlement is not a part of their services. Debt Settlement Lawyer: Retaining the services of lawyer to get your debt settled can be pricey. Their fees to settle your debt can range from five-hundred to one-thousand dollars. A clear example is this. Your indebtedness to creditors is $1500 and your lawyer negotiates a reduction of this amount to $900. The lawyer charges you a fee of $900 for a grand total of $1800 to handle your case. Undoubtedly, it will cost you more than what you originally owed to your creditors. “…If you owe a few thousand dollars to lenders, it would be in your best interest to employ the services of a debt settlement company who can not only get a decrease of your debt, but can most likely get interest rates lowered, as well as reduced monthly payments to settle your financial obligations…” H. Milla added. Further Information By Visiting; http://www. BestDebtReliefPrograms. net
08-Jan-2010
*** Debt Settlement WARNING! *** + Shopping around? + Getting quotes from different companies? + Filling out forms on the internet, looking for help? Tempted by lower payments? Don’t be fooled… DO YOU HAVE ACCOUNTS WITH ANY OF THESE CREDITORS: Citibank, Discover or Bank of America? (Are you sure?) JANUARY 2009 UPDATE: Target and Kohls have both become highly aggressive. Your program must account for the higher cost and possibility of lawsuits to be successful. Only work with professionals who require statements for quotes and pass the test below… BUYER BEWARE: If you receive quotes from anyone who does NOT ask you who your creditors are, you better RUN!!!! With so many people in a financial hardship these days, many unscrupulous, untrained or ignorant people are jumping onto the debt settlement bandwagon… unfortunately this could mean big trouble for you! Did you know Citibank, Discover and Bank of America are much more likely to file a lawsuit against you if you make the mistake of enrolling into a bad debt settlement program over 24-30 months. Or, in some cases, even if it’s longer than 12 months? It all depends on how much debt you have with “aggressive creditors” like Citibank, Discover and Bank of America. You may have accounts disguised as other creditors, but and are actually owned by these same nasty creditors, like… * AT&T Universal (Citibank) * Most gas cards (Exxon, BP, Citgo, Chevron… ALL Citibank) * Sears (Citibank) * Sometimes Lowes & Sams (Discover) * FIA (Bank of America) * Plus many more common names you might know all too well, but didn’t know were ticking time bombs in your financial plan. In fact, if you have too much debt with Citibank, Discover or Bank of America, then debt settlement MIGHT NOT WORK for you at all! JANUARY 2009 UPDATE: Citibank has recently become much easier to deal with, settling account for much less and backing off on legal action. In fact, many creditors are softening. I believe this is due to the economy. Creditors want something instead of nothing, ASAP. This is GOOD NEWS for you! These rough economic times are indeed the very best time for you to get out of debt for as little as possible, AS SOON AS POSSIBLE! A friend of mine recently had $75,000. 00 of his personal credit card debt with bank of America settled for only 10% ($7,500. 00). Take advantage now if you’ve been affected by the economy and are struggling with serious debt. My elite team and I work independently of any service, solution of company. We work for you, as your trusted advisers and coaches to guide you through the process of achieving a GOAL we share together: YOU, DEBT-FREE ASAP! Use my free Debt Relief Guide Online to make your most financially intelligent choice, then move forward with the help of trusted, proven experts specializing in the solution(s) YOU CHOOSE. OK? Ready? Go! If you’re not already a subscriber, just enter your name and email in the green box at the top right-hand corner of THIS PAGE, to have this for free. What if you enrolled in one of these debt settlement program who DID NOT account for these “aggressive creditors” (like most debt settlement companies offer today)? If you’re like one of the many clients I’ve attempted to help when they came to me after dropping out of one of the many debt settlement programs like this, then you too would just get ripped off and left to deal with nasty creditors on your own. You’d be a year or two into a debt settlement program that was destined to fail from the start, with a LOT more debt 9higher balances due to interest and fees piling up), a whole bunch of nothing for a lot of money paid in fees to an unresponsive debt settlement company with a long list of complaints… and your accounts will be too far gone for a legitimate debt settlement company to do anything for you that you could possibly afford. it usually takes a large LUMP SUM at that point, roughly 65% of your total debt, to avoid bankruptcy or worse… Watch out for the “smoke and mirrors” most debt settlement companies are trying to pull these days. Watch out for high pressure sales people or slick-sters trying to sell you on the lowest monthly payment without even looking at your specific situation. “Three Rules” …Make That, “Four Rules” To Avoid Costly Debt Settlement Mistakes: RULE #1. Only get quotes from a debt settlement company who requires statements. RULE #2. Only work with a debt settlement company who has been in business over 5 years. If 90% of businesses fail in the first five years, why would you ever trust your financial future with an unproven start up company? Stay away from start ups. Choose a company with a proven track record over time. RULE #3. Only work with companies with a clean BBB Reliability Report. Stay away from companies with a long list of complaints… This is a sure sign they over-promise and deliver poor results, probably getting their clients sued unnecessarily. Bottom Line: Learn what a “satisfactory record”* with the BBB means and require it from any company you consider trusting with your financial future. *JANUARY 2009 UPDATE: Because of the many unscrupulous operators in the debt management industry mentioned above, the BBB has recently rescinded Membership for many debt management and debt settlement businesses in many areas of the country. It’s a case of a few bad apples spoiling the barrel. Few parts of the country still allow membership to debt settlement companies. In addition to this, the BBB has issued “D” ratings to companies just for being in the debt settlement industry, even with no history of complaints or problems with consumers. There is currently no criteria recognized by the BBB to distinguish good companies from bad, other than the length of time in business and the number of complaints. * Better Business Bureau Membership and Rating NO LONGER have any meaning. instead, look at time in business and amount of complaints. FreedomDebt. com, for example, was an Accredited Member of the BBB until summer 2008 when the company’s membership was rescinded because the industry the company is associated with in the state of Texas. This, we were assured, had nothing to do with company, its performance or service to customers. Maintaining a good reputation and trust with our clients since 2002, we’ve been regularly invited back to news programs and talk shows for live TV interviews all over the country. FreedomDebt. com (Debt Freedom, Inc. ) services many thousands of clients nationwide, and still maintains an outstanding track record with the BBB (one single complaint in two of the company’s entire eight-year track record in business). * The BBB’s credibility has come under mass-scrutiny. The BBB is not a government organization, but private entities who have amassed major influence over consumer buying decisions, but have become unfair and corrupt in their own business dealings. More here: ConsumerAffairs. com/news04/2009/01/bbb. html RULE #4. Thanks to several gracious subscribers who brought it to my attention, here is an important fourth rule to avoid fly-by-night debt settlement companies: Only work with debt settlement companies who are members of TASC, The Association of Settlement Companies. TASC is the leading debt settlement industry organization, only allowing membership to companies with documented good practices and denying membership to companies with a history of complaints, unlike the other industry organizations. Steer clear of any company or sales person who attempts to enroll you into a program without covering everything included in the TASC Standard Disclosure. Only enroll into debt settlement programs offered by members of TASC. * Rule #4 ONLY applies to non-attorney based debt settlement programs. Debt settlement lawyers and attorney-based debt settlement programs are regulated by the Bar Association. Check with the Bar Association to do your due diligence on debt settlement lawyers or attorney based debt settlement programs. . Of course, receiving personal service and expert knowledge are also nice, especially in the sea of ignorance and desperation swarming the debt settlement industry these days. Make No Mistake, Debt Settlement *may* be the Best Option FOR YOU, by far, if you’re facing financial hardship… …But *only* if it’s a quality program that will work for you, in YOUR SPECIFIC SITUATION, and offered by a trusted representative of the small handful of reputable debt settlement companies. . REMEMBER: You can do debt settlement yourself. While there are many benefits to having a professional negotiator or debt settlement lawyers do it for you, there are also some great do-it-yourself debt settlement resources. I have written a very popular do-it-yourself article to settle your own debts step by step. Being in the debt settlement industry myself for over seven years, working with most of the major players and watching bad companies come and go, I SEEING THE NEED FOR THESE DEBT SETTLEMENT WARNINGS FIRST HAND. It’s not only inspired me to write this article, but has also driven me to spend the past three years developing and creating a life-changing financial education program to help smart people like you make your best choice to get out of bad debt, and avoid these costly mistakes and the devastating consequences many fall victim to.
For a limited time I’m offering the 29-page, full-color “Debt Relief Analysis” & Guidebook I sell online at DebtReliefAnalysis. com for $27. 00 as a free gift for all new subscribers to the Debt Relief Guide Online.
Get free instant access now and Debt Relief TODAY at http://DebtGoToGuy. com.
Here to Be an Asset to You,
Jesse Niesen
DebtGoToGuy. com
888-928-DEBT
07-Jan-2010
the debt has value..just reward an amount of cash to the plaintiff and force the lawyer to deal with the rest
06-Jan-2010
If You Have Been Sued Or Know That You Are About To Be Sued, This EBook Tells You In Simple English How To Defend Yourself Against A Civil Lawsuit As Well As Learn About The Resources And The Laws In Your State And Their Practical Effect On Your Case.
05-Jan-2010
In recent years, the amount of defaulted credit card and other money lending debts featured a sharp rise. Consequently, persons who participated in risky mortgage loans resulting in faded home value in addition to “inverted” percentages of total debt to income makes up the right combination for disaster. Some individuals have entrenched themselves so deep they do not see any clear exit. Aurora Lillo Editor of the “Best Debt Settlement Companies” website — http://www. BestDebtSettlementCompanies. org — pointed out; “…Regardless of how you got into your financial abyss, debt settlement services are available for anyone seeking financial counseling to achieve a deal with their creditors…” If you decide to seek assistance, relief from bills should be accomplished through a certified, financial advisor. Counseling services is a sensible alternative to defaulting on a deferred payment agreement. Debt counselors furnish instruction to reduce the enormous weight attributed to unrelenting collection notices. Credit advisors are able to help you remodel your debt by proposing useful and viable resolutions in order to answer your creditors. Moneylenders understand the process of debt consolidation, and they are often anxious to recoup some of the delinquent notes rather than not retrieve any money at all. Once, the conversation and negotiations concludes, the debt solution actualizes. Whether you have experienced an unexpected burden, like unanticipated illness or the demise of your loved one or loss of your job, a confrontation with financial harm is emotionally devastating. When you realize that you are submerging in defaulted personal loans, doctor bills, or credit card late notices, debt settlement services can extend a life preserver to help you. Financial debt counselors provide expert advice regarding unsecured loans, charge card and healthcare debts. However, federal student loans and public utilities are not resolvable non payments through the measures of credit counseling. “…Debt settlement services operate as mediators. If you need help from financial difficulties, a debt counselor can assist you with arranging an equally valuable payment system between you and your creditors…” added A. Lillo. Further Information By Visiting; http://www. BestDebtSettlementCompanies. org
05-Jan-2010
i decided to call to negotiate with the creditors attorney and they do not want to negotiate anything less than a few hundred dollars the original amount is like 1700. I wish i could pay it off but i have no job since 6months now and i even had to drop out of school, since i cant afford school fees.. I called a law firm called dargon law firm in NH(their wdbsite is dargonlaw .com), and they say they would take over my case for a fee of $375 and what they do is basically negotiate with this creditor.I mean i can barely afford that but if this law firm can help me this way then i will like to take care of things this way. I just dont know if its right or wrong. The creditors sent me a summons that i need to respond in less than 3 weeks and i know i have to file a response, but dont even know whta type of response. After speaking to this law firm they said if they take over the case, i wouldnt worry about having to go to court anymore, since they would be able to negotiate the debt. They basically negotiate per every hundred dollar i owe. Thats what the lawyer said. Has any of you heard about them before.??
Sorry this is long but i am so confused and would appreciate any help i can get. I was about to sign some docs and fax my summons over to this debt settlement company\law firm but i wanted to ask your opinions first. I also consulted some other lawyers and they kept telling me to ignore th summons , some told me to respond, but if i hand over my case o this company i dont need to respond right??
thanks for all the responses, i really appreciate your help.
04-Jan-2010
When it comes to debt settlement, there are two options. Not all debt is the same. The circumstances under which it was accrued, the amount, and the resources on hand to deal with it can all factor into deciding the best way to find relief. Aurora Lillo Editor of the “Best Debt Settlement Services” website — http://www. BestDebtSettlementServices. com — pointed out; “…One option is to go with an established settlement company. The best of these companies have been in business for a very long time and are very skilled at negotiating through even the most difficult of situations. They generally employ a core office staff that each work on a specific part of the process and handle paperwork regularly…” The other option is to hire an attorney that specializes in debt settlement cases. In contrast to an agency, these lawyers may be highly trained individuals with a very extensive knowledge of the legal side of the negotiation process. They may not have a staff to handle paperwork, and usually have a distaste for settlements that may take years to resolve. So which option is right for you? It depends on a few different factors. If you have a very large amount of debt, sometimes a lawyer can be the better option. When the balances owed reach a certain level and collections are unsuccessful, litigation is usually not far behind. Having a lawyer who is familiar with your case may allow a settlement to be reached without ever having to set foot in a courtroom. On the other hand, if you are having difficulty saving the money needed to begin negotiations, or would prefer to have a settlement that extends payments over the course of many years, then an established settlement agency would be the better choice. “…If you are very careful with who you choose, whether it be a lawyer or an agency, you will gain the benefit of an experienced financial negotiator to help you relieve your debt…” added A. Lillo. Further Information By Visiting; http://www. BestDebtSettlementServices. com
03-Jan-2010
If you are engaging on a debt settlement process on your own, you should consider hiring a lawyer to assist you. The credit companies have lawyers working for them. Without having one, you are at an extreme disadvantage. Most people consider them an expense and assume that going through an agency may be the better option. Aurora Lillo Editor of the “Best Debt Settlement Services” website — http://www. BestDebtSettlementServices. com — pointed out; “…Debt settlement agencies use lawyers all the time. The cost of that lawyer is often added into your fee, or may even be an additional charge for more complicated financial situations. You should research how much money you will be spending over the terms of the settlement to see if you may be better off hiring a lawyer directly. The lawyer can assist you in writing letters to the various creditors, including what information to provide . them. Often they can look over the documentation and counter offers to make sure that you have protected yourself from any sort of hidden fees…” If you are the one doing the letter writing and handling most of the legwork, you can save money on the lawyer’s fees. Look up information on writing settlement offers to your credit agencies. Many websites offer templates for the different types of correspondence and that limits the amount of work that the lawyer has to do. If you have questions you have someone that you can call to get information from. “…Pick an attorney that has experience in bankruptcy or debt settlement. Getting an attorney from an unrelated field may not do you much good, since they are not trained in those areas. Look into reviews for them; you should be able to find information on them with the Better Business Bureau or the Chamber of Commerce. Make sure that they are able to practice the area of law that you are requesting. An attorney on your side can help you out. They have been through these things when you have not. They may be cheaper than using a debt settlement service, but you must be the one to take the first step. Look into lawyer assistance when dealing with your financial future…” added A. Lillo. Further Information By Visiting; http://www. BestDebtSettlementServices. com