Credit Guides And Credit Services

Shocking Facts - What Debt Settlement Companies Don't Tell
You

Credit Pacific Service Union By Denise Hall (c) 2004

g) All legal notices may be served on Credit Health (Pty) Ltd, Block A, Dunkeld Court, 16 North Road, Dunkeld West, Johannesburg; h) Credit Health assists debtors to settle their debts by offering a credit check ( 1 Credit Report), credit monitor and credit management services together with the Debt Settlement Plan ( whereby " sum", " off" settlements are negotiated and facilitated for clients);

Credit First Service Union This article may be reprinted in its entirety with the
resource box included.

Our debt settlement program will get you debt free far sooner than credit counseling programs and not leave you with the devastating blemish of a bankruptcy on your record. Academy Credit is looking out for your best interest, not your creditors. We can get you out of debt with peace of mind. credit information cont

credit report repair legal services

Card Credit Mobile Service Shocking Facts - What Debt Settlement Companies Don't Tell
You

If you’re trying to kick the “ Pay Later” habit and get your spiraling debt under control, you need Managing Debt For Dummies now! This practical, commonsense guide provides straightforward strategies for coping with every kind of secured and unsecured debt, including, personal loans, car loans, mortgages, home equity loans, lines of credit, credit cards, finance company loans, and student loans. You’

Card Credit Discover Service By Denise Hall (c) 2004

Credit card and even more so Store card interest are set at exorbitant rates for one reason alone, companies make their money from the consumer’s inability to settle their card balances. Credit card debt is unsecured, whereas other debt like your mortgage is secured (your home acts as security against your debt). With credit card debt, there is no backing security, which means that credit card debt is high risk for banks and hence the high interest rates

Credit Public Service Union
If you're thinking about using a debt consolidation or debt
settlement service to help you get out of debt faster and
save money on your monthly payments, make sure you do your
homework before choosing a company. There are definitely
shams and scams out there.

Debt Help can have an adverse affect on your credit record. Also it will take longer to pay back your credit due to the fact that you are paying less back to your creditors each month. rmation You could be paying off your debt for a very long time; this is largely because your credit companies may not have to freeze the interest payments. ending debt situation in some cases where the debt value is higher.

Card Credit Processing Service First let me say that debt consolidation is *not* the same
as debt settlement/negotiation, which most people don't
realize.

Center Credit Service Union Debt settlement companies charge hundreds of dollars as an
initial "admin fee" to set up your account, plus a monthly
service fee. The fees vary depending on the company and the
amount of your debts.

Card Credit Service Wireless Such companies take your money every month, but don't make
monthly payments to your creditors! Instead, they put it in
a trust account, negotiate your debts with your creditors,
then make a lump-sum payment when there's enough in your
account to pay a creditor in full.

Credit Security Service Union That can take *years* depending on the amount of debt you
have with each creditor. Meanwhile, you can be sued by your
creditors and your wages can be garnished! (Or just don't
make payments to your creditors. You'll end up in the same
spot without paying someone to help you get there!)

Credit Report Service Settlement companies don't ask your creditors to stop all
interest, late fees and overlimit fees from accruing. That
means while the negotiations are ongoing, your bills will
continue to grow! So if you're sued and a judgement is
brought against you, you'll owe more money than before!

Blogspot Com Christian And shoddy companies, which there are alot of, don't tell
you *any* of this up front. I call it "getting permission
by ommission" because they simply don't tell you how their
program works *before* you sign an agreement with them. Or
after, for that matter. But if you ask the right questions,
eventually you'll figure it out. (Or when the crap hits the
fan. Whichever comes first.)

Christian Counseling Credit Let me give you an example of how debt settlement works.

Credit Federal Service Union Let's say you have $20,000 in unsecured credit card debt.
You owe $10,000 to one credit card company, $6,000 to
another and $4,000 to a third. You agree to a 5 year plan
where you pay $250 a month to the settlement company.
(After all, $250 a month for 60 months is only $15,000, so
you're saving $5,000 and you'll be debt-free in 5 years,
right?)

Credit Monitoring Service The admin fee will cost you $750. Your first 3 monthly
payments go towards that and nothing gets put into your
trust account until your 4th month.

Credit Division Service The settlement company keeps $50 of your $250 payment each
month for the service fee. That means $200 a month is being
added to your trust account.

Card Credit Online Service Most debt settlement companies claim to be able to
negotiate your debt for about 50% of what you owe. So let's
use the lowest credit card debt as an example.

Consumer Counseling Credit Inc If you owe $4,000 and your creditor agrees to accept $2,000
as payment in full, it will take 10 months at $200 per
month to have enough in your trust account to pay off just
that one credit card.

Card Credit Fleet Service But remember, your first 3 payments to the settlement
company only paid the admin fee. That means your first
credit card settlement is 14 months *after* you started
sending them money.

Card Consolidation Credit So what's the problem? It's simple. Your creditor won't
agree to accept half of your actual debt unless, or until,
it can be paid in full. Otherwise, you're expected to make
your normal monthly payments.

Credit Free Online Report Since you don't have $2,000 in your trust account, and you
won't have it until more than a year after you stopped
paying your creditor directly, they'll probably take you to
court and request that your wages be garnished long before
you have that $2,000 built up.

Credit Federal First Service And what about your other creditors? Well, they'll be
waiting even longer to get their money from the settlement
company. The $6,000 debt will take 15 *more* months to pay
off, assuming your creditor waits that long and agrees to
50%. And that $10,000 bill? You do the math.

Consumer Credit Service On the other hand, if you signed up for a 3 year plan with
the settlement company, your debts would be paid off
sooner. But, the question is, will your creditors wait that
long? Probably not.

Center Credit Family Service The facts are, you can negotiate with your creditors
yourself. Most will agree to take a smaller monthly payment
from you and stop all interest and fees from accruing. And,
of course, you'll save thousands of dollars in fees to a
settlement company.

Credit Reporting Service Before signing up for any service, please be sure you check
out the company thoroughly. And don't let the words
"non-profit" fool you either. Alot of debt settlement
companies claim to be non-profit.

Cca Credit Division Service Going back to the example above, if you pay them $15,000
over a 5 year time frame and they settle your debts at half
of what you owed, they'll make $5,000 from you. I'd call
that a profit, especially since they might not have
actually helped you in any way.

Credit Free Report Service Most companies will allow you to cancel your account and
get a refund of what you've paid, less the non-refundable
admin fee and the monthly service fees. If you feel you've
been mislead about their program, don't hesitate to argue
til the cows come home. File a complaint with the Better
Business Bureau or hire an attorney if you feel you're
getting nowhere.

Card Credit Customer Discover You can visit the Better Business Bureau's website
(http://www.bbb.org) and find reports on hundreds of
companies. Here's a small listing of companies that have
poor reputations with the BBB:

Credit Repair Report Service National Consumer Debt Council LLC - Irvine, CA (A.K.A.
NCDC, United Consumer Law Group)

Credit Legal Repair Service Financial Rescue Services - Burbank, CA

Cic Credit Monitoring Service Debt Legal Services - Anaheim, CA

Ccs Credit Division Service American Debt Relief - Los Angeles, CA (A.K.A. A M Debt,
American Debts Relief, Debt Relief)

Credit Service Union Worker Please be very cautious when choosing a debt help company
and ask lots of questions before agreeing to anything. If
you find they're evading your questions, run fast and run
far. There are reputable companies out there, so keep
looking until you find one.

1st Credit Service Union ************************************************************
Denise Hall is the owner of Home Business on a Budget which
specializes in tools and resources for your home business
needs. Visit http://www.home-business-on-a-budget.com today.
Subscribe to Home Business on a Budget Newsletter for weekly
articles, tips, information and resources. Subscribe at
http://tinyurl.com/36e5s today.

Card Chase Credit Customer If you would like to receive her new articles when they are
written, please mailto:hbb_newsletter_articles@...

[ Comment, Edit or Article Submission ]