I’ve graduated from Eagle One’s Program. Surprisingly it was over in 22 month instead of 30 month as originally quoted. I guess they were able to reach cheaper settlements with some of my cards and subsequently use the remainder of the money for the rest of the settlements.
Settlement Debt Relief
August 5, 2010 by Leave a Comment
Settlement Debt Relief
Settlement Debt Relief
If you are caught under heavy debt then one of the few steps that you can take to come out is to opt for settlement debt relief. Through debt settlement one can literally reduce their debts into half. The process that one has to go through is also very simple. One starts with negotiating with the company and when they are agreed then chances are that your reduction in debt can be around fifty percent. The company generally does it by waving off extra charges from your loan amount like fees, late fees charges, interest that is accumulated throughout the period etc. Since this method requires negotiation it would be best if a person hires a debt settlement company or professional debt settlement manager with proven experience.
The negotiator will communicate about the debtor’s adverse situation to the credit company and negotiate a deal on debtor’s behalf. And also maintain all communications with the credit company on your behalf. With a successful negotiation debts can be settled for around 50%- 60% of their original debt amount. But it is mandatory that the credit company should believe firmly that the debtor will not be in a position to pay more money and is going to file for bankruptcy. So the debtor can stop paying monthly installments to the credit company till the whole debt settlement process is going on. With a successful settlement debt relief you will be capable of paying the rest of the debt at a comparatively low interest and will be able to get rid of the same in a matter of few years.
It’s a win- win situation for both the parties involved. Creditor is happy as his debt is being repaid and the debtor is happy as he is getting a chance to settle his debts with pride and at a lower interest. The best part of settlement debt relief is that there is no ill effect on the credit score in the long term. Opting for debt relief through settlement is a good option. It is considered a legal option than filing for bankruptcy and is feasible for people who are on the verge of going bankrupt. Other than this option there are many solutions for getting free of debt so it would be the best option to go to a debt settlement company for getting the best suitable option for you.
Debt Settlement Program
August 5, 2010 by Leave a Comment
Debt Settlement Program
Debt Settlement Program
When there is a question of debt settlement program or debt management, it is very crucial that you discover which creditor will not or will take part in this program. Generally, the agency that you employ for your debt settlement will meet the creditors but before that, you should make certain that each creditor has been contacted and this program is consented by them.
For this debt settlement procedure, you have to start negotiating the payment amounts and plans with your creditors. This specific procedure may take one to two weeks to accomplish and your rate of interest will continue to elevate your bills. You must be certain that your defrayments are still being made and so are your payments, do not become a burden for yourself.
When reexamining your debt management program, make certain that you find out which creditor is providing you a minimized principal balance or rate of interest. This might only be completed subsequent to you have paid few payments and you have paid on time.
Reexamining payment amount of each month and how much payment you are paying to each creditor is very crucial. You must be sure that every creditor gets their payment and these transactions have been updated into your bank account. You will as well want to know how much time it will take the creditors to be liquidated while accomplishing the plan. You are required to make certain that you are able to afford the defrayment and that you have sufficient money left for each payment. You must get out of debt, and do not make more debt.
The final step that you are required to do is to enquire about the debt settlement program and about the agency that you are employing for your settlement program. You should get cheated or be betrayed by the settlement agency in any case. Make certain to use the Federal Trade Commission or the BBB as they provide all types of information on debt settlement agencies. Discovering the proper kind of debt settlement program is not very tricky and if you find a legal company and a program for your requirements, you could be living free of debt only in few years.
Debt Relief Services
August 2, 2010 by Leave a Comment
Debt Relief Services
Debt Relief Services
There are many companies in the market today that claim to provide debt relief services. Before talking about these services we need to know what debt is all about what kind of debts are covered by these services. Debt is any amount owed by a consumer to a creditor company who has given you a loan or you have used credit cards of that company. However, these services do not deal with all of these debts. They just deal with the unsecured debts.
Unsecured debts are debts without any security against them. That is why the creditors have no way of getting that money back if the consumer does not pay it. These may include bank overdrafts, credit card bills, utility bills, personal loans etc. The debt relief service providing companies work rigorously to find out the best possible deal for the consumers so that they maintain their reputation in the market.
When you start finding these services to settle your debts and get relieved then you can find some of the experts who can provide you the solutions in minimum time and process the things without wasting much of time in formalities. They are also capable of customizing the solutions for different groups of debtors like students, working women, pensioners etc. They help you to manage your debts systematically and efficiently.
Debt relief services are regulated by the laws of a country so whatever a company may claim it can not go beyond the limitations set by the laws. Therefore, the services offered by these companies differ from country to country. To begin with taking these services you would need a credit counselor who can discuss on your debts, their types and find the best way out.
These services aim at reducing the rate of interest for you and reduce the total amount payable by you by negotiating with your creditors. They have skills in getting the late fee and other charges waived off for you and work with them to devise a plan of payments for you that can be suitable to you and creditor both. Here you need to be cautious of the unreliable plans and services that may just aim to get huge fee from you. They should be capable of handling everything related to your debts and take you out of the huge debts and stress associated with it.
Pay off debts
July 19, 2010 by Leave a Comment
Pay off debts
Pay off debts
Pay off debts refers to the mechanism whereby the debtor tries and pays off his debt as fast as possible with as much installments he can, every month. Increasing debt burden can spell the doom for anybody, especially so in cases where the debtor has more that one loan to look at. When one decides to pay off debts, it helps in doing away with the burden that he carries, before the schedule. This process may bring in certain discomfort for the debtor since he has to slice off a lump sum of his disposable income in repaying the debts, but at least this measure does away with the ever amounting interest and late fee rates.
There are various ways in which one can pay off debts.
~Paying more than the minimum amount due: as one pays more than the minimum amount due, he not only does away with the interest amount that he would have to pay subsequently, but also prevents his outstanding from reaching alarming proportions.
~Snowballing: this entails transferring the debts that have a higher interest rate levied on them getting transferred to the loan accounts with a lower rate of interest. Just in case all the debts especially in the case of credit card are too big to get into one, it pays to pay off the one, with the higher rate of interest first.
~Pay off from the savings account: though it may pinch a bit, but it is wise to divert funds from one’s savings account for the purpose of paying off of loans.
~Borrow from family or friends: many a times we are able to secure loans from our near and dear ones. It pays to borrow money from them, because they generally do not expect you to pay any kind of interest on the amount lent and also do not set a very hard and fast time limit for repayment.
~Negotiate the credit terms with creditors-in case it is possible, negotiating with the creditors for a lower interest rate to enable you to pay off your debt fast may also be worked.
~Withdrawing funds from your retirement plan: though this is not a very suitable idea, it should be resorted to only when there is no other option is left in sight to pay off debts.
Eliminate debt
July 19, 2010 by Leave a Comment
Eliminate debt
Eliminate debt
You do not need to struggle to eliminate debt, there is an unsecured debt on your head which is making you worry but you need to find a solution to the problem. This is the right time when you need to make a head start so that you can negotiate in the correct manner. Filing for bankruptcy is not the only solution; there are better ways of dealing with the situation to get rid of the liability that you owe to your different creditors.
For this to make some progress you need get the people who you owe money to come and sit with you.
A professional appointed person by you can take you out of this problem, and matters can be handled in a smooth way. To make a beginning you need to learn the ropes of how to negotiate in a manner in which the creditors also agree to a settlement amount and you are also paying an amount which is affordable. To eliminate debt it is necessary to initially identify the main reasons why and what kind of a process you should follow to negotiate the debt amount.
The people who owe you money will only accept a settlement if they reach the conclusion that you are not in a position to pay off the debt, and you need to make sure that they are convinced about your genuine reasons regarding it. Most of the time a creditor is extremely scared of the fact that you may take the route of filing for bankruptcy. To make sure that he does not loose all the money, and to minimize the kind of loss he might incur, the creditor does agree to an amount which is reasonable to settle for.
One negotiation alone will not eliminate debt, there will be a series of them and you will need to figure out the path for it. You can take professional help from companies which are operational in the field of debt negotiation and settlement. Since these are managed by experts in the field it is much easier to reach a solution by taking their help. By working out a proper plan and making sure that correct and expert advice is taken in the right measure you will be able to reach a settlement in the requisite time period.
Debt consolidation and debt negotiation?
July 19, 2010 by Leave a Comment
debt consolidation & debt negotiation
debt consolidation & debt negotiation
It is very important that understand the difference among: It is very important to understand the difference between:
1. Debt consolidation.
2. Debt Negotiation.
The consolidation and the negotiation of debts they have their advantages and inconvenient. The consolidation and debt negotiation have their advantages and disadvantages. To see the advantages of the consolidation of debts punctures here and for see the advantages of the negotiation of debts punctures here. To see the advantages of debt consolidation click wounds and see the benefits of debt negotiation, click wounds.
It compared to the consolidation of debts, the negotiation can seem profitable, since really you negotiate with the creditors for have not that to pay part of the money that had lent you and to cancel it as evil debt. Compared to debt consolidation, negotiation may seem advantageous, because it really negotiate with creditors to avoid having to pie part of the money you had paid and partition ace bad debt.
You imagine you that Pepe asked lent to a bank 1000€. Pepe Imagine to bank borrowed € 1.000. When the bank asks to Pepe that the money return him Pepe tells him the bank that will give him $400 if forgives him the $600 remaining. When the bank asks you back Pepe Pepe money tells the bank to $400 if you will forgive the remaining $600. Some times the creditors accept these agreements, since can cost them a lot of effort already times more money to recover the remainders $600. Sometimes creditors accept these agreements, ace much effort may cost dies money and sometimes recover the remaining $600.
Although this can seem a dream become reality, has many associated objections: While this may seem like to dream eats true, there you are many drawbacks associated:
1. It will be shown in your financial record that you carried out a negotiation and that arrived at an agreement in which did not pay all your debt. Will be displayed in your financial history you took to to negotiation and you eats to they go agreement that did not pie all your debt. 2. Although it is a better option than having a debt in your record, is very damaging for tí, since any future creditor will see that you have not paid the total quantity of your debt in the past. Although it is to better option than to debt in your history, is very harmful for you, ace any future creditors will see that you have not paid the full amount of your debt in the past.
When should you elect to consolidate your debt and when to negotiate it? When should you choose to you consolidate you your debt and when to negotiate?
1. If you have pending debts with more than one creditor the consolidation of debts agrees you. If you have outstanding debts to dies than one creditor for you debt consolidation.
2. If you believe that have too many debts, that there is no way that can pay them and that can arrive at the bankruptcy, in that case the negotiation of debts is the correct solution for you. If you think you have too much debt, there is not way you can afford them and that you can go into bankruptcy, then debt negotiation is the right solution for you.
Pay off debt
July 19, 2010 by Leave a Comment
Pay off debt
Pay off debt
Unpaid money of a bank, a family member, a credit card company or a friend may land you in a financial problem. By following these six easy steps given below, you are able to pay off debt easily and quickly and be on your path to financial exemption.
#You must decide which one to pay off initially. If you have to pay for multiple debts, you must pay off those debts, which are nondeductible. This signifies paying your credit card debt prior to decreasing your mortgage. Always begin with a particular debt that has the highest rate of interest.
# Stop adding more to your debt. This might be quite easy like not using your credit card. It may entail that you are required to negotiate with your loaner to assure that your loaner will stop adding penalties and interest to your remaining balance.
# Try to pay off more than what the minimum defrayment is. Remember that to pay off debt promptly, all of the time pay more than what you are required to pay.
# Search for a lower rate of interest: Look at your interest rate to see if it is right to take a lower rate of interest loan like a retirement plan loan, home equity loan, or credit card balance transfer to pay back the debt.
# Ask for assistance. If you are troubled to pay off debt, your family members and friends might be willing to assist you, either by giving you a lending or a gift, so that you can pay off your debts.
#Move on. If you are struggling to pay off debt and do not find any way to pay off, it might be the time to announce bankruptcy. Remember that a bankruptcy may negatively influence your credit for ten years. Before declaring bankruptcy, discuss with a reputed bankruptcy lawyer and a capable accountant, so that you can complete the procedure of bankruptcy without any hassle.
About debt settlement companies
July 19, 2010 by Leave a Comment
Debt settlement
Debt settlement
Debt settlement
Today most of the people are in reality facing a major problem of debts. They are finding ways to eliminate their debts. So, to help them debt settlement companies are there to help eliminate their debts. But if you simply sign up a settlement program with any of these companies then it can really trim your points off from your credit history. And this is the beginning of your problem. Because many of this companies have proved to be fraud and do not offer quality service to their clients and on the other hand they ask for huge amount as interest rate. So, it really becomes very difficult to select the right company that can fulfill your requirements.
Recently, Federal Trade Commission has launched a publication and this publication is mainly launched to educate the people about these debt settlement companies. The publication launched by FTC really helps to find out the correct company according to your requirement and also the publication helps to negotiate with the company for their huge fees and monthly repayments. Settlement of your debts does not means that your debts will be eliminated but yes the burden of your debts will be decreased and all this will be done by the debt settlement companies.
These settlement companies ensure you to eradicate about 20% to 60% of your debts. It is recommended that you should not select the company those who ask you for full fee in advance. These types of companies do not offer quality service to their clients and sometime they also run away after taking your money. There is no such government organization offering such type programs so for eliminating your debts you have to approach any private organization as there is no other option left before you. If somehow you become a victim of such fraud debt settlement programs then you may immediately contact FTC in order to file acquiescent against that company. This will not help you get back your amount that you have already paid but it will help other consumers from becoming the next victim of that particular company. Once you logged a complaint against the fraud company then immediately the government will take legal action against that company. It is recommended by FTC that if you are struggling with your debts then you should directly approach in order to make settlement for your debts rather than approaching any debt settlement companies.