If you are struggling with overwhelming debts, debt settlement and bankruptcy are two options that can help you regain good financial health. While many people are familiar with the word “bankruptcy,” debt settlement is less well known, and the differences between both options are unclear to many. For the benefit of our clients, this blog [...]
The Federal Trade Commission's new restrictions on debt settlement companies has not stop some of these firms from devising new strategies so that they can still charge upfront fees to customers. "Instead of complying with the new rules, the majority of debt settlement companies are evolving to evade them," said Chris Viale, CEO of Cambridge [...]
Maybe you're not ready for bankruptcy-or even a good case for it, but you're still suffering from high debt that makes it impossible to pay the really important bills like rent, electricity, gas, or food. You might want to try and "settle" your credit card bills . When you owe a lot of money in [...]
Debt settlement companies claim that they offer a viable alternative to bankruptcy. But what they don't tell their customers is that debt settlement fails more often than it succeeds. Secrets about debt settlement: The fees are steep and they often reduce the amount of money that will go to pay off your debt. Debt settlement [...]
Well over a million Americans have filed bankruptcy this year and many experts expect that number to increase in 2010. Many Americans who are struggling with debt woes, facing foreclosure and other financial issues delay bankruptcy. Too many of them turn to questionable debt settlement firms who charge the exorbitant fees while failing to deliver [...]
Debtor's can't afford the payment(s). The number one reason most debt settlement schemes don't work is because the debtor cannot afford the payment(s). Most debt settlement schemes require large upfront payments to the debt settlement firm which will be redirected to the creditor (minus the debt settlement firm's fees). However, most debtors are severely cash [...]
Many debtors considering bankruptcy are often holding out hope that they can somehow settle their debts for pennies on the dollar like advertised on the late night debt settlement infomercials. But debt settlement is not as easy or pain free as the debt settlement merchants would have you believe. Let's take a look at some [...]
With many Americans struggling to repay debt, advertisements for debt settlement companies are on the rise. Many debt settlement companies claim that they can help debtors pay only a fraction of their debt and walk away debt-free. "Pay only pennies on the dollar!," they say. Many debtors are under the false impression that debt settlement [...]
According to an article in the Star-Telegram, debt settlement can often leave debtor's worse off than they were before they attempted to settle the debt.The article said: Anybody buried in bills has seen the ads or received letters or calls from companies promising to settle credit card debt for 50 cents on the dollar. The [...]
Most debtors file for bankruptcy as a last ditch effort to dig themselves out of the hole when their debt troubles are just too much to handle. But often their last stop right before bankruptcy is debt settlement. There are a lot of companies out there that offer debtors the opportunity to settle their debts [...]
