Debt Relief News

Debt Lead Company offers & saving tips for debt settlement, consolidation, credit repair
July 12, 2010

Comparing Debt Settlement to Debt Management

Author: admin - Categories: Debt Relief Tips, Featured Debt Articles, Featured Debt Relief Companies, Published Debt Relief Articles

Debt Settlement Nationwide published an article today comparing debt management to debt settlement services.   The debt relief company notes that debt management is great for consumers who are still concerned about their credit scores.  They recommend debt settlement solutions to consumers who are looking for a service that renegotiates their balances owed so they actuallly pay less than owed to their creditors.  Read the original article > Debt Management Versus Debt Settlement

6 Ways to Reduce Debt

Author: admin - Categories: Consumer Debt News, Credit Card Debt Articles, Debt Relief Tips, Featured Debt Articles, Featured Debt Relief Companies, credit counseling

The debt relief industry has both credible and shady debt management companies.  Yes, there are debt settlement companies that engage in fraudulent, deceptive and abusive practices that pose a risk to consumers, according to a federal investigation of the industry. In its investigation, the U.S. Government Accountability Office found that some debt settlement companies provided fraudulent, deceptive, or questionable information to its consumers, such as claiming unusually high success rates for their programs – as high as 100 %. However, the Federal Trade Commission and state investigations have typically found that less than 10% of consumers successfully complete these debt settlement programs.

According to the Federal Trade Commission, if a company promises to erase your debt for pennies on the dollar, be skeptical. Debt negotiation can be risky, and it can have serious, long-term consequences for your credit report and your ability to get credit in the future. And if another company include credit repair, alarm bells should go off.

Here are six tips from the Consumer Federation of America on how to get real debt relief:

1. Try to resolve your debt issues with your creditors one on one. You may be in a position to able to get your credit card interest rate reduced, late charges forgiven, and your monthly payments reduced.

2. Contact a nonprofit credit counseling service for advice. It may be possible to work out a plan through the credit counseling service to pay off the debts over time. To find the nearest nonprofit credit counseling services, consumers can contact the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies.

3. Know your rights. Ask your Attorney General’s Office if state law limits the amount or timing of debt settlement fees in your state. Find your state AG at www.naag.org.

4. Read the fine print. Walk away if the contract doesn’t contain the promises that were made to you, or if the contract contradicts what you were told.

5. Look for services that charge a fee only after the service actually negotiates debts.

6. Take immediate action if you can’t make your home loan or auto payments. (In some cases, debt settlement services can’t address home mortgage or secured auto loans.) Contact your lender to discuss loan modification options. immediately to try to work out new payment arrangements.

Read the original debt article online >

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