The Ins & Outs Of Debt Settlement

Desperately, we seek legal solutions for unpaid outstanding bills. Obviously most consumers would want to get rid of their debts. This can be perfectly resolved through debt settlement programs. But what is debt settlement? And how can it help?

To clarify, debt settlement is the process of negotiating with creditors, to agree on a total amount they will accept in lieu of the amount the consumer actually owes. These negotiations are usually handled by a debt settlement law firm. Typically debts are reduced to around 15 to 75 cents on the dollar, and is paid in a lump sum. The consumer makes a monthly payment that is deposited in an account administered by the firm handling the settlement, and held until the full amount owed, is accumulated. Once the monetary goal is reached, the creditors are then paid off, in one lump sum, for the total amount that was agreed upon – for more information go to to learn how to handle debt collection agencies.

There are a number of factors that need to be taken into consideration, but most importantly, a debt negotiation is not for those who are simply trying to avoid paying for the purchases charged to their credit cards. It is for those who truly cannot afford to make their existing monthly payments, but are willing to work with their creditors through a well planned debt settlement program; and have a sincere desire to pay their bills. Credit card issuers are usually willing to work with debt settlement companies on behalf of consumers who are in a financial hardship situation. They prefer to recover at least a portion of the debt rather than nothing, at all, but this varies from lender to lender, so it is best to seek the services of a debt settlement law firm with a proven track record.

In most cases, debt negotiation is a last resort, if you can’t meet all of your monthly debt obligations. Once a consumer makes the decision to hire a debt settlement company (or firm) to negotiate with creditors, or companies like united recovery debt collectors, about debt(s) – it is important to remember that this will not have a positive impact on their credit rating. Consumers going through this process also need to exercise financial discipline, and not open any new accounts while paying off the negotiated debt. Once the debt settlement plan is completed, rebuilding a good credit history can begin again. You can learn how to rebuild credit by going to to learn how to delete debts.

Harassment can be avoided in this process – no more untimely collection agency calls. No more fruitless procedures to tolerate from debt collectors. A debt settlement erases your record of late payments and overdue charges, from your multiple bills. However it is still reported as settled and not paid.

One can avoid the missteps of debt negotiation by taking a look at the site,, as a consumer can be a detriment to his or herself by poorly negotiating terms. Many have learned that simply responding to a debt collector’s calls can reset the time limit on a debt (known as the statute of limitations). So, it is important to either inform yourself on the basics of debt negotiation or seek legal council.

Normally the terms of the debt settlement must be followed at least 2 to 4 years. However, if one is willing to cooperate, it can be faster. The agreed amount is computed according to the total sum of the debt incurred, plus the years it has not been settled, in addition to additional fees that are due. One must religiously follow the program and avoid making late payments, to avoid prolonging the life of the debt.

Truly, there is a wide range of debt settlement companies to choose from. It is the job of every company to vow to honor the debt from a creditor, until it has been completely paid off. Some even promise to negotiate to decrease the amount of the debt; the nuances of such an agreement may require closer analysis of the terms, and may require the company to be knowledgeable of state laws (as state laws vary from state to state).

However, do expect some hits on your credit report, when undergoing a debt settlement program. The status of your account is settled, thus incurs a negative impact on your score. You must also take this debt settlement into account, when you file your next tax return (as it is regarded as a cancellation-of-debt income, since it is a forgiven debt).

Financial relief may seem out of reach to those who lack knowledge of certain financial alternatives. Of course, we all want what is best for our family, but, unfortunately, the over-use of credit can give us the illusion that we are in financial control. However, this high cost of living makes it difficult to achieve true financial independence. Fortunately, for those who can’t handle their finances, debt settlement programs are a heaven-sent, for most individuals – provided the individual is willing to make a financial change…and not a financial escape.

Your Steps To Debt Consolidation

Debt consolidation refers to the acquisition of a new credit card, in order to cover the payment for previous debt obligations. For maximizing your level of benefits, it is essential to avail yourself to a program with a low interest rate.

When consolidating debts, people are assisted financially. However, worse scenarios happen where additional costs will concern the loan applicant. Certain conflicts may be resolved through being familiar with the basics when it comes to improving one’s credit record; one way, is to request a Transunion Dispute, to remove any debt items that were wrongfully placed on your credit report.

There are certain facts about debt consolidation, which are not actually known by a lot of people:

  • Just like any other loan, debt consolidation also varies according to the kind of institution (financial or nonprofit) you’re dealing with.
  • Debt management and credit counseling are two different things. The former is about arranging the lines of credit in a more comprehensive way. The latter is focused on teaching consumers on how to pay their debts effectively.
  • Debt consolidation offers low rates, so consumers are not too tripped-up with their existing debts. Despite having these affordable rates, consumers tend to pay more, due to the extension of the consolidation program. A low credit score for late payments will not be a problem. An effective debt consolidation plan will lead to rebuilding credit.
  • One must be aware that loan providers also charge fees for their services. One must always ask about the included fees to avoid being surprised by high expenses.
  • Conventional banks are not really needed, when applying for a debt consolidation loan.
  • Regular loans and consolidation loans might be two different things. The loan for debt consolidation refers to the additional loan, which makes it possible to pay the remaining balance. When the consolidation loan is secured, a property is regarded as the collateral. The program takes charge on restructuring the debt, and negotiating interest rates.
  • A debt consolidation program needs to be monitored (monthly) so that paying bills will be easier. Furthermore, one will not encounter late fees, if they make it a point to pay ahead of time.

There are several steps to follow, before you actually select a debt consolidation policy:

  1. Calculate the existing debts you have – Collect the credit bills and list the amounts, according to the balance owed. The monthly payment and interest rate must also be visible on the list. Upon knowing the total amount of financial obligations, a person will know the amount he needs. If some debts are inaccurate, you can use an experian dispute to delete or correct them.
  2. Start paying the small debts – If there are sufficient resources to pay the rates you can afford, do not hesitate to do so. It will help in decreasing the amount of money needed for debt consolidation. Paying a certain amount will make your list shorter. Borrowing low amounts will result in a small amount of remaining debts.
  3. Look for the best deal – More money will be saved if a person will be able to choose the right debt consolidation plan that will help you pay other credit bills. Through negotiating with various loan providers, there are great chances to find the best program. With the variety of policies, one will surely stand out. People can seek help from the bank, debt consolidation specialists, financial planners, accountants or credit counselors. Doing research is important, especially if you want to get the best program.
  4. Debt consolidation loan application – After selecting and reviewing the most suitable loan, the person must find time to undergo the application process. There is no need to worry about the process, because everything is simple.
  5. Paying the debts – There are some instances where the lender holds the decision for paying a certain creditor. If the borrower was given the chance to decide, he must prefer the obligations that holds the higher interest rate. It will keep the person away from too many debt problems, and spare the person the trouble of having to validate the accuracy of a debt, by an equifax dispute.
  6. No repeated burden caused by plenty of debts – Everybody must think wisely before venturing into a new responsibilities. All credit cards must be analyzed, so that the unnecessary ones end up removed.

Lowering the amount of debts doesn’t mean that you must close the previous credit cards. There might be accounts, which can boost your credit rating. It is recommended to use the cards in moderation, to avoid extreme interest rates. You must make sure that monthly payments won’t weigh too heavily on your pockets.

  1. Paying the consolidation loan – A person will have peace of mind, if he can pay the amount he borrowed, as soon as possible. He must remember that the main aim of debt consolidation is to decrease the interest rates from other credit cards or loans

Debt consolidation is very helpful, if a person wants to stay away from the depression caused by excessive debt. If you think that there is no other way to alleviate your liabilities, applying for a debt consolidation plan will give you hope. However, we must not forget that everything must be in moderation, as making intelligent financial decisions will give you peace of mind.

Battling Gambling Addiction

Betting on sports, roulette, poker, slots or scratch cards – whether it is online or in casino – gambling can destroy relationships, careers, and may result into financial disaster. This may also push you to certain things that you have never done before, such as stealing big sums of money just to pay off your debts or to gamble. Or resorting to taking part in transworld systems scams, to generate enough money to gamble.

Your mindset is – you can’t stop. However, with assistance, you could cease your destructive antics and bring control back into your life. You much first know when to admit you have a problem. End financial ruin, here:

Understanding The Problem In Gambling Addiction

Gambling addiction, which is also called compulsive gambling, is one kind of disorder known as impulsive-control. These types of gamblers don’t have control over their desires to gamble – even when they already know how potentially destructive the results will be to themselves (or to others). Their main world just revolves around gambling. This is what they like to do, regardless of whatever happens. Gambling addicts would keep gambling, even after they are broke, depressed or deep in debt. They gamble even though family, friends and spouses are against it.

But this can be a big problem if it is not properly controlled. Gambling addiction is a behavior in which gambling ruins one’s life. When you are preoccupied with it, you spend more money and chase losses and other miserable things, like westlake financial services reviews on your credit reports – reporting negative comments on your paying habits.

Signs and symptoms of gambling addiction

Gambling addiction is subtle, such that there are no physical signs of it – unlike addictions such as alcohol and drug abuse. People who have it, typically minimize or deny the problem. They tend to hide their gambling activities in so many ways. Take, for instance, gamblers would sneak out and lie about where they have gone or what they been doing (as of late).

Most probably, you have a gambling problem if you always feel that you want to gamble, secretly. Chances are, you would lie about the amount of money you have gambled away or how much you have won, since you do not want to cause alarm.

Are you having a dilemma on how to control your gambling addiction? Can you still quit or walk away from gambling on your own volition? Or you are already bounded by the power of gambling, and you won’t stop not until you are down to your last coin?

This is oftentimes the case, even when you don’t have some way to finance gambling. What is more alarming is when you get too desperate and you’ve fail to bring back money you’ve lost. There are some instances where you would stop paying your bills – just to gamble. Or you would sacrifice the money you have set aside for you children.

And you’re reduced to selling, borrowing and even stealing valuable things – just to gamble! The rest of the cycle is cruel. You would come to a point of believing that the only way to gain money, is to lose them first. But the thing here is, it only puts you deeper into debt and deeper into conflict with collection agencies – to the point where you are forced to make portfolio recovery complaints on your credit report.

Moreover, your friends and family are now worried about your situation. If you keep on denying your gambling addiction, you will continue to suffer. Why don’t you try to listen to them? Examine how your life is being affected greatly, by gambling. There are many old stories of gamblers who are trying to reach out their kids, because a long time ago, they already gambled away the inheritance of their children – would you wait for THAT to happen in YOUR life? It is not too late.

Treatment & Self-help For Gambling Addiction – Relieving Overwhelming And Unpleasant Feelings Without Gambling

Unhealthy feelings, such as loneliness, helplessness, anxiety, depression or fear – may trigger gambling addiction or may worsen. After a long and tiring day of work (or right after a confrontation from co-workers, your spouse or whatever), many people feel that some time in the casino would alleviate these negative feelings – allowing you to socialize and unwind.

However, you must know that there are other healthy ways (and much more affordable ways) in inviting these feelings, constructively; this includes meditation, exercise, hanging out with friends, discovering new relaxation techniques – and much more.

Most people consider alternatives when they are planning to quit gambling. Although gambling is no longer a part of their lives, those unpleasant and painful emotion they used to have (to overcome gambling) will still remain. That is why it is much better if you think positively, and replace gambling with something constructive – this will allow you to deal with stress.

Each kind of gambler has their own needs, whether it is medical attention or family support. That is why there are specific programs designed for every situation involving compulsive gambling. But this is a tough road. They must be ready to face it with determination.


Using A CareCredit Card & Avoiding Debt

For those in need of financing for doctor bills, the CareCredit card is simply a credit card for health care – a credit line used for medical procedures and treatments, covering the whole family – even pets! This credit card is also made for elective surgical procedures involving one’s beauty, as well as health needs that run along the lines of recreational. There are many promotional offers which enables one to avoid payment of interest, by having the card holder pay a minimum payment per month, provided that they make sure that they pay the total amount due before said promotional offer ends.

In any case, should one fail to pay the promotional purchase (in full) by the end of the promotion, interest will be charged to his/her account, starting from the date the purchase was made. There are requirements that need to be met, in order to maintain a certain minimum payment amount, each month; one should confirm with his or her provider, since each and every practice may not offer different financing options, in regard to the CareCredit card.

If you make the mistake of choosing the wrong finance options, you can fall behind on medical bills, and go into default; if you want to avoid debt collectors, like Stellar Credit Agency, pick up ways to choose your financing wisely.

The CareCredit card can be used at more than 150,000 registered providers all over the nation for such services as:

  • Veterinary
  • Vision Care
  • Dentistry
  • Cosmetic Surgery
  • Hearing Care
  • Cosmetic Treatments and among many others.

Once one has gotten a CareCredit card, he or she can re-use it many times, without re-applying for another one; sparing the person the trouble of re-applying for their family members, and even his/her pet(s)!

With the many promotional options that are available, one does not pay interests, as is the case with Visa or Mastercard; this is because CareCredit is specially made to cover health care services only. It has been an observed trend that most of the CareCredit cardholders prefer payment plans that are shorter – ranging from six to twenty four months; plans like this helps one avoid paying high interest by having the least monthly payments, as well as, avoiding default.

There are also programs that are longer, having a reduced and fixed interest rate for those who may require a longer duration of time to make payments for their procedure. The standard amount of the monthly payments depends on repayment over a twenty four, thirty six, forty eight or sixty-month period. Those purchases which are of $1,000 (and above), become eligible for a twenty four, thirty six or forty eight-month offer, while those purchases which are of $2,500 (and above) become eligible for a sixty-month offer. One should go through the Terms and Conditions of the application, to find out which option suits them best.

Many people may ask if CareCredit is an insurance policy. The answer is a firm no; this is because one qualifies for this card on the basis of one’s credit history; this way, it doesn’t substitute the insurance policies. In fact, it offers assistance in paying out-of-pocket costs of health care that may not be covered by the insurance policy; this can also help you manage your debt better, but if you still end up getting into a debt settlement situation, look at this example on how to negotiate – involving cach llc.

To apply for CareCredit, one can simply do it online by downloading and printing the application, then taking it his or her health care provider; this kind of application is easy and fast. After the application is submitted, one learns instantly if his or her application has been approved, or not.

It is worth noting that one can have his or her application completed without Medical-CC-351x253necessarily knowing who his or her doctor will be. All one requires, really, is to proclaim the health care profession they intend on using the CareCredit card for. That is, basically, all one needs to do, in order to get started on the application.

There may be inquiries about the current outstanding debts you currently have, so if you have auto loans, student loans, or you’re in the process of paying off a debt to debt collectors like allied interstate or whomever – disclose all this information, as well.

One receives the billing statement after he or she has had a charge processed on the account. The billing comes within duration of thirty days.

In the event that one does not get a statement mailed to his or her address, customer service should be contacted. There is also the option of accessing your account online. Here, the statement can be accessed to do the following:

  • Check when one’s payments are due
  • Check the newest statement
  • Make verification of mailing address
  • Pay online

Moreover, CareCredit cardholders can do the following by use of the automated phone system:

  • Check balance
  • See credit limit
  • Have payments made
  • Make changes to one’s address
  • Report that a card has been lost or stolen
  • Make a request of increase of credit-line
  • Obtain a letter of balance
  • Make disputes about a purchase
  • Request for a billing statement
  • Receive assistance on how to manage the online account and many more.

Whatever your circumstance, CareCredit card is versatile enough to ease the financial challenges that await those who can not afford to pay for quality medical service.

How Can I Use The FDCPA?

There are so many things that need to be considered when it comes to debts, and the processes that go along with it. Like many other financial plans, borrowing money also needs to have proper management and operations, to ensure that everything in the process works out fine. One of the underlying regulations that help aid individuals in responsible debt management is the Fair Debt Collection Act (FDCPA). What is it all about? If you want to broaden your knowledge about it, continue reading.fdcpa-full-text
FDCPA is an amendment in the Consumer Protection Program, that establishes legal protection to help consumers avoid abusive practices during debt collection. One powerful legal measure that can be used in the FDCPA, is the Cease & Desist order; you can use it to stop harassment from creditors (like Sears) or debt collectors, like ic systems collection agency.

With that said, here are the other legal measures of the FDCPA, that were also designed with the purpose of protecting consumers:

– To abolish abusive practices during debt collection.
– To promote fair practices in the collection of debts.
– To provide the consumers with a way to dispute and obtain validation of information about their debts (so that accuracy on the information is ensured).

FDCPA sets guidelines that demand compliance from debt collectors, when it comes to: Their business operation, their definition of consumers’ rights and the way in which debt collectors are penalized – in the event of an FDCPA violation. FDCPA sometimes serves as a complimentary Act with the FCRA (Fair Credit Reporting Act).

What are the ways Collection Agencies violate this act?

Even if you are a debtor (and you’ve been making attempts to fulfil your promises to pay for your debt), there should still be appropriate ways on how debt collectors will treat you. Sadly, there are instances when consumers suffer certain disrespect from some debt collectors. This is why an Act that prevents such mishaps needs to be created. The FDCPA is one of the most reliable Acts that provide protection to consumers; this Act mandates how collectors of your debt will act, when they collect your debts.

Here are the ways collection agencies commit FDCPA violations:

1. Asking the debtor to pay more than they owe…
Basically, you are bound to pay the exact amount you owed, unless it includes interests. Unfortunately, there are agencies that try to assign frivolous fees to your payment, inflating it to an amount that is not stated in your initial agreement. Which brings us to…

2. Unlawful interests…
It is true that there are times when you need to pay certain interest rates as a penalty. However, such fees or any other expenses need to be in the amount permitted by law. Collection agencies cannot (and should not) add any extra charges that are not allowed in your original loan or credit.

3. Continuous and repeated calls…
Reminders through calls regarding your debts, are fine – provided they are not too excessive. The problem is,  sometimes, collection agencies call debtors more than they need to. Continuous and repeated calls are considered (by the FDCPA) as a form of harassment.

4. Inappropriate time of call…
Collection agencies can call you about your debt, within the allowed period of time. The FDCPA sets 8:00 am to 9:00 pm as the duration at which collectors can make calls you regarding your debts. Calling before 8 am and after 9 pm are considered harassment.

5. Calling debtors when collectors already knew (or should have known) what is considered inconvenient times to call…
This is considered a violation in the FDCPA.

6. Insensitive language…
No one deserves to be slandered. There are collectors that use abusive, profane, and obscene language as they do their duty. This is a clear violation of [15 USC 1692D] § 806 (2) under the FDCPA.

7. Threats of using violence…
Collection agencies should never threaten you or use violence against you – in the event that you do not or cannot pay your debt.

8. Unlawfully filing charges and other damages…

Collectors cannot use the following as threats against you:
– File charges
– Take property
– Take action for you to lose your job
– Destroy your credit


9. Illegal information to third party…

Collection agencies are not allowed to inform third party people or entity regarding your debt. The following are exemptions:

– The creditor
– The attorney of the creditor
– Your parent(s) (for debtors who are minors)
– Your spouse
– Your attorney
– An agency that does the credit reporting

10. Repeated calls to third party in order to figure out your location…
This is a violation of the FDCPA. The only time collectors can contact a third party entity, is when there is a believable reason that the information they previously received from the third party, is false.

How can consumers use the FDCPA to delete collection agencies from their credit report?

Collection agencies need not delete items on your credit reports, if there are no grounds to do so. If there is a need for you to eliminate items from your credit report, you need to pin-point the violation(s) the debt collector has committed – that resulted in the said negative items placed on your report; this is one way by which consumers can delete negative items quickly. The law and agencies that enforce your consumer rights – will provide you with the necessary steps you need to take, as matter progress.

You might be a debtor. But you don’t deserve to be treated unjustly; if you are (and want to prevent such things from happening to you), learn more about the FDCPA and get the protection you deserve!

Payments Of Debts And The Statute Of Limitations

Statutes of limitations are laws that set the time limits a debt collector has to file suit against you for an outstanding debt; once this time limit ends, no suit can behourglass-credit-card filed against you, and the outstanding debt must be deleted. If the creditor does not commence legal proceedings, and the stipulated time elapses, the debt collector shall not be allowed by the law to file ever again.

It subsequently means that the debtor shall be deemed, in law, as not owing the creditor or (better still) as having already paid off the debt.

The amount of time within which a creditor must place a case in court against his debtor varies with each and every state. In some instances, a creditor may be allowed to file up to the fourth year after the consumer defaulted. In the majority of states, a creditor has the right to sue the debtor until the sixth year of the dispute.

Many debt collection agencies, however, seem to disregard the statute of limitation by going ahead & seek debt repayments long after the debt’s time limit expires. Despite this, the only thing a debt collector (or collection agencies)can do, is request you to pay the debt; but they have no power under law to sue you for failing to pay, as the debt had already expired, and (subsequently) the debt they are asking for, is no longer recognized by the law. To learn more about how to use the Statute of Limitations to your advantage, go to this website.

After the time has expired, and you are sure that you are free from court proceedings, take special care not to recommit to the creditor again, on that same debt – as doing so is quite possible, and the law allows the debt to renew. Avoid signing anything your creditor may bring you and avoid his calls, as he may attempt to make you enter into some new agreement(s).

In short, after statutory time has elapsed, act like you never knew your debtor! At this point, the debt collector cannot claim to be your creditor – and he knows it. However, they will try their best to have you pay them back. Ask a lawyer, before going ahead and entering into any contract with the same creditor, in the event you have to.

What is good about the statutes of limitations is that they do not outlaw methods employed by debtors to avoid paying off the debts. In other words, the same offense that would normally get you thrown in jail, no longer applies once the statue of limitations expire – no one is taken to prison for failing to pay their debts. If a collection agency attempts to file suit or get you to pay for a debt after imagesAAAit expires, they have committed a violation of your consumer rights, also know as the Fair Debt Collection Practices Act.

Once this violation is committed, the debt collectors must pay the consumer $1000, for every violation it commits. Note that different debts are time-barred differently, according to the contract that brought forth the agreement. Some contracts are very categorical when it comes down to where the parties may sue. Some even go ahead to provide more time than reserved in the statutes of limitation (for that state).

Others contracts state, directly, that statutes of limitation shall not be applied, and that only the terms in the contract are valid – in such an event, a party to the specific contract cannot deviate from the express provisions in that contract. To find out other ways to structure a contract, visit this website.

In order for you to find out the statute of limitation in a given state, you need to establish when the debt became due. The courts have ruled that, in the event that a debt account has been open, the statute of limitations start to operate as soon as the first payment is entered. Also realize, that different contracts operate differently, under the state in which they are employed.

You should, therefore, educate yourself and make it your business to utilize the appropriate legal instrument your circumstance may require. Generally, the statutes of limitations range from three to over ten years. However, you can always seek counsel from a lawyer, in case you are not sure what the statutes are in for your state.