Debt Relief News

Debt Lead Company offers & saving tips for debt settlement, consolidation, credit repair
May 10, 2010

Tighter Rules Coming for Debt Settlement Companies

Author: admin - Categories: Credit Card Debt Articles, Debt Settlement News, credit counseling, debt relief - Tags: ,

Last week TASC reported that the debt settlement industry was under attack as credit card companies may be misleading the government once again.  Debt settlement companies that charge high fees and mislead consumers would be more tightly regulated under new legislation introduced Wednesday.  TASC agrees that debt settlement companies need to be held accountable for their actions but much of this debt relief reform appears to be biased and many incidents are taken out of context.  The proposed law, put forward by Sens. Charles E. Schumer, D-N.Y., and Claire McCaskill, D-Mo., comes as complaints about the debt settlement industry have soared amid the economic downturn.

Under the legislation, debt settlement companies wouldn’t be able to collect fees until a settlement was reached. Consumers also would get clearer upfront disclosures, including a detailed list of all costs and promised services.  Typically, the settlement firms promise to negotiate with credit card companies to reduce the amount that consumers owe. Costs vary, but a company might charge up to 20% of the total debt. Fees are usually demanded upfront, even though a settlement may never be secured

Hiring a debt settlement company doesn’t stop the collection calls either. Interest and financing charges continue racking up too, and lenders may even decide to sue in the meantime.  Consumer groups note that individuals can negotiate directly with lenders, and that credit card companies often refuse to negotiate with debt settlement companies. Even if a debt negotiation is reached — either independently or through a third party it could hinder the consumer’s credit score. (so do bankruptcy, consumer credit counseling and debt management)  Under the Schumer-McCaskill bill, consumers would have the right to cancel a debt settlement agreement and get a full refund. The legislation would provide for enforcement through state attorneys general and the Federal Trade Commission. The federal agency also would be given authority to regulate the industry’s advertising and marketing practices.

Is Debt Settlement the Best Option For You?

Author: admin - Categories: Credit Card Debt Articles, Debt Relief Tips, Debt Settlement News, Featured Debt Articles, debt relief

Like take a loan out to consolidate debt, debt settlement is not something you want to just jump into.  Consider your debt relief solutions and tax implications before signing an agreement with a debt settlement company.

1. First, determine how much debt you have(specifically unsecured debt no including student loans) Request a copy of your credit report from one of the main credit reporting agencies. You could view your credit report with a credit repository company like Trans Union, Experian or Equifax.

2. Have you spoken to a debt settlement company about qualifying?  In most cases, debt settlement companies only work with people who owe more than $7,500. There may be other requirements as well. Read through the information provided by the debt settlement company. Make sure you meet all the requirements.

3. Determine if you have the money for debt settlement. Subtract from your monthly income your normal living expenses, including housing, transportation, utilities, food, and insurance. If you have money left over, then debt settlement may be right for you. If you don’t, you should not try credit card debt settlement.

4. Search for a debt settlement company. Don’t sign with the first company you find. Instead, read through what services they provide and what they expect from you. Look for debt relief companies that have been in business for a while. Make sure the debt settlement companies you are working with have been approved by the Better Business Bureau.

5. Decide if debt settlement is the best option for you. With debt settlement, you can reduce the total amount you owe and improve the relationship between you and your creditors. Also, you can pay your debt quicker as long as you remain faithful to the credit card settlement offer.

Debt settlement can also incur potential tax problems, and may hurt your credit rating. It may encourage your creditors to initiate law suits against you. Also, it could increase the frequency of calls to you by your creditors.  Read more at

April 5, 2010

Debt Settlement Nationwide Rolls Out New Debt Relief Program

Author: admin - Categories: Credit Card Debt Articles, Credit Market Updates, Debt Relief Tips, Debt Settlement News, Featured Debt Articles, Featured Debt Relief Companies, debt relief

The California debt relief company, Debt Settlement Nationwide announced a new debt relief initiative to help consumers find the path to debt freedom.  With so many consumers getting behind on credit card bills,  a better solution for debt relief is in demand.  Debt Settlement Nationwide  announced that their debt reduction option to help people get back on their feet their financially.  With bankruptcy laws and lending tightening considerably, consumers look to debt settlement to take the pressure off of the high rate burdens that go hand in hand with unsecured debt.  See the original blog post online > New Debt Relief Programs

Debt Relief Leads in Demand

Author: admin - Categories: Debt Leads, Debt Relief Tips, Debt Settlement News, Featured Debt Articles, debt relief

Bankruptcy and debt settlement have become two popular debt relief choices for consumers seeking help, so many finance companies are searching for debt leads online.    Now that home values have been devastated, homeowners no longer have the ability to take out a no equity debt consolidation loan.

Debt settlement has become the preferred solution for consumers that want to eliminate their credit card debt.  Debt settlement leads are in high demand because millions of people are looking for debt relief  online.   The Mortgage Lead Vault has many popular lead buying programs to for companies seeking mortgage, foreclosure prevention and debt relief leads.   Read the original article online > Debt Leads Rise in Popularity.

February 1, 2010

Debt Relief Great 1st Step in Credit Repair

Author: admin - Categories: Consumer Debt News, Credit Card Debt Articles, Credit Repair Tips, Debt Consolidation, Debt Settlement News, debt relief

One of the most effective steps in credit restoration is debt consolidation.  Debt consolidation loans were very popular with homeowners until the credit crunch of 2008.  Millions of consumers who were burdened by credit card debt we now seeking alternative solutions to eliminate their credit card debt. Almost every day sees a new posting somewhere about debt consolidation, its benefits.

As many people have experienced personally, credit repair can be time-consuming and paying a credit repair company for their services can be costly. So if you’re already behind, trusted credit repair companies will most likely suggest you look into debt relief if debt consolidation loans are not a viable option. Due to the challenging landscape of credit repair, it is critical for your finances to be stable and monthly bills to be paid on time to prevent further damage.

Does Debt Settlement Harm Your Credit?

Author: admin - Categories: Consumer Debt News, Credit Card Debt Articles, Debt Relief Tips, Debt Settlement News, Published Debt Relief Articles, credit counseling, debt relief

Does debt settlement affect your credit negatively?
Yes, quite often debt settlement will make your credit scores drop, at least during the months you are building your account for the debt negotiations.  However, consumer credit counseling, bankruptcy and most debt management programs will also damage your credit, but in most cases, consumers can get their credit to rebound quickly after debt settlement.  It is amazing what credit repair can do to rebuild your credit profile.

As soon as you have the ability, I recommend starting a savings plan. Saving even a little bit each pay-period enables you to stop using your credit cards for the unexpected expenses that can arise frequently. Saving is essential to grow your wealth and prevent consumer debt. Check with your bank to set up an automatic transfer to savings via payroll deduction or direct deposit.

Read the complete article > Debt Settlement Solution or Scam? The debt relief article was written by Jeff Morris from the US Debt Relief Firm.

January 29, 2010

Debt Relief Services for Affiliate Marketing

Author: admin - Categories: Consumer Debt News, Credit Card Debt Articles, Debt Settlement News, credit counseling, debt relief

The debt relief industry continues to expand with debt settlement, debt management, consumer credit counseling and bankruptcy filings rapidly soaring.  The Debt Relief Business and specifically, the attorney based debt resolution model is considered the new and preferred way of helping consumers settle their credit card debt.  Early on, we’re talking maybe a year and a half ago most sales offices believed that their dreams had been answered after the subprime mortgage meltdown, as promoting loan modification was the easiest money they’d ever seen.  Alongside modifying, loan officers, credit repair affiliates, mortgage brokerages and accountants alike became debt settlement affiliates with multiple net branches, but limited to green states.

The Federal Reserve announced more low rates for mortgage refinancing for all 50 states! $6,500 Tax Credit for First Time Home Buyers seeking FHA Home Loans.

Today, and with even greater confidence, the loan modification professionals see the debt relief business as the way to go and are quickly moving to promoting debt settlement, synonymous with debt resolution except debt resolution is performed by attorneys.  Attorney Based Debt Resolution also has several advantages to the debt settlement processing model, including the ability to service consumers in 48 states.