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How To Settle Debt - The Dave Ramsey Show
 
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Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 172265 The Dave Ramsey Show
5 Things Debt Settlement Companies Won't Tell You: Get the Facts on Negotiation!
 
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A debt settlement company won't tell you these 5 critical things, and with good reason. You would not need to hire them, or would be better prepared to compare companies and alternatives if you were aware of these important facts about how they generally operate. READ THE ARTICLE THAT INSPIRED THIS VIDEO: http://consumerrecoverynetwork.com/debt-settlement-companies-5-things-you-will-not-hear SHARE THIS VIDEO: https://youtu.be/8a7sU0eH13k WATCH MORE RELATED VIDEOS: https://goo.gl/efd1Eq For a list of of best practices for negotiation companies and additional information about how to settle credit card debt yourself see: http://consumerrecoverynetwork.com/debt-settlement-company-review-best-practices/ ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 113551 Michael Bovee
Pros and Cons of Negotiating a Debt Settlement
 
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Debt settlement is a perfectly viable solution to a debt problem, but it's not for everyone. In this video, we discuss the pros and cons of negotiation, so you can effectively choose the right strategy for your personal finances. Please comment below if you have questions! SHARE THIS VIDEO: https://youtu.be/KtY71LKMiVQ WATCH MORE RELATED VIDEOS: https://goo.gl/JVTwrJ ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 6231 Michael Bovee
How does debt settlement work?
 
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Evan Nielsen of Nielsen Law Group discusses how debt settlement works. Feel free to call us if you have any additional questions or would like to schedule your free debt settlement consultation. Call (480) 888-7111. Check out our website for more information at www.nielsenlawgroup.net. Nielsen Law Group has offices in Chandler, AZ and Redlands, CA. Facebook: https://www.facebook.com/pages/NielsenLawGroup Twitter: https://twitter.com/NielsenLawGroup Blog: http://www.nlgblog.com NOTE: The information provided in this video shall not constitute legal advice. Information is provided solely for educational purposes.
Views: 18958 NielsenLawGroup
How does Debt Settlement Affect my Credit?
 
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Debt Settlement does impact your credit. If you're already more than 30 days late with your credit card bills, your credit is already damaged. Settling debt, depending on the circumstances, can help you begin to improve and rebuild your credit score, over time. SHARE THIS VIDEO: https://youtu.be/KUI0gcY9Xr8 WATCH MORE RELATED VIDEOS: https://goo.gl/efd1Eq There are many myths surrounding bad credit and debt relief, but most of it revolves around debt settlement and bankruptcy. Here are some resources for you to learn more about how your credit report and credit score are impacted by the debt relief option you are looking at, or have already chosen: http://consumerrecoverynetwork.com/credit-report-score-rating-debt-relief-programs/ http://consumerrecoverynetwork.com/question/if-i-settle-debt-how-long-will-it-take-for-my-credit-report-to-be-good-again-vega/ ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 17060 Michael Bovee
Is It Moral To Settle a Debt?
 
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Is It Moral To Settle a Debt? Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 12165 The Dave Ramsey Show
8 Timing Strategies for Debt Settlement Success
 
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Timing is crucial to getting the best settlement from your creditor, collection agency, or debt attorney. Saving money is a priority and can only be maximized by knowing all the "whens" in settling. SHARE THIS VIDEO: https://youtu.be/Ci4Ut6AE4C8 SEE RELATED VIDEOS: https://goo.gl/JVTwrJ ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 5150 Michael Bovee
Debt Settlement - 5 Things You Need To Know About Debt Settlement
 
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Get Debt Settlement Here - http://settlement.debtconsolidation.com What Is Debt Settlement? Debt settlement is a legal way to pay less than you actually owe, usually through an intermediary, by reaching an agreement with your creditors. This agreement sets a more reachable target payment to satisfy your debts. Whether you owe $5,000, $10,000 or $50,000, if your debt is so high you can't make your minimum payments, creditors would rather collect something rather than nothing. According to the American Fair Credit Council, debt settlement is the speediest and least expensive way to resolve a debt. How does debt settlement work? Debt settlement companies negotiate with creditors to reduce the total debt and the consumer pays a monthly amount to the debt settlement company. Once the total amount needed is collected, the debt settlement company pays off the debt. Once in the program, the consumer pays in a specific amount per month to the settlement company. The company holds that money in a separate account, allowing it to accumulate until it grows large enough to begin to be used to satisfy debts and pay the fees. It typically takes several months before the first settled debt is paid off. The American Fair Credit Council says it generally takes take two to four years to complete a debt settlement program, depending on how much money is owed and how much money the consumer can pay into the account. How settlement companies assess fees. Some companies charge a percentage of the overall debt, usually between 13 to 20 percent, while other companies assess fees based on how much they reduce your debt and charge fees as high as 35 percent of the debt reduction. Companies may charge a monthly fee instead that usually ranges from about $20 a month to $90 a month for as long as you're in the program. How settlement affects your credit. Debt settlement can have a significant impact on your credit score. However, if you're already late on your bills by the time you consider settlement, your credit is probably already damaged. But the process of halting payments -- one way debt settlement companies pay off the agreed-upon amount -- can mean showing month after month of late payments on your credit history. Once your debts are satisfied, these will show that they were paid through an agreement -- documenting that while you no longer owe anything, you did not pay the full amount of the debt. Once debt free you would then have to begin working toward repairing your credit. Debt Settlement has tax implications. While seeing your debt reduced is no doubt a relief, it is important to know beforehand that another bill could be coming when it is over. The Internal Revenue Service considers forgiven debt as income, so that should be kept in mind as something that will have to be addressed later.
Views: 2143 DebtConsolidation
Bankruptcy vs. Debt Settlement
 
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Debt settlement sounds better than bankruptcy but a closer look reveals some troubling issues with debt settlement companies and the services they offer. You have heard the commercials: "we have discovered the secrets that the credit card companies don't want you to know." In truth, there are no such secrets. Debt settlement companies operate by setting you up on a monthly payment plan to their bank account, collecting your money, then using that money to pay off creditors. While the money is accruing, they hope they can convince your creditors to hold off from suing you. While there are some legitimate debt settlement companies, many of these organizations have come under scrutiny from federal and state law enforcement. Several have been shut down by the government, leaving customers out in the cold. Before you sign a contract to pay a debt settlement outfit, talk to a bankruptcy lawyer to learn about all your options. In many cases, bankruptcy can be a less expensive and more versatile choice. And if you do choose to go the debt settlement option you'll enter into that process more informed and more savvy about your options. Want more information about debts and your rights and choices? Pick up the phone and call Susan or Jonathan at 770-393-4985 Ginsberg Law Offices Atlanta Bankruptcy lawyers 770-393-4985
What is DEBT SETTLEMENT? What does DEBT SETTLEMENT mean? DEBT SETTLEMENT meaning & explanation
 
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What is DEBT SETTLEMENT? What does DEBT SETTLEMENT mean? DEBT SETTLEMENT meaning - DEBT SETTLEMENT definition - DEBT SETTLEMENT explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. During a negotiation period, all payments by the debtor are made to the debt settlement company, which typically withholds payments to the creditors, even if the debtor has paid a lump sum or made payments. Once all the debtor's accounts are in default due to this non-payment, the debt settlement company has leverage to force the debtor to accept a reduced lump sum payment as settlement. The debtor's credit rating goes down significantly due to the default, especially if the debtor was not behind on payments before the negotiation period commenced. Even though the accounts are "settled," the default appears on the debtor's credit record for seven years. Nevertheless, some debtors prefer this method of debt reduction over bankruptcy. Debt settlement is often confused with debt consolidation or debt management. In debt consolidation and debt management, the consumer makes monthly payments to the debt consolidator, who takes a fee and passes the rest on to the creditors; this way, creditors continue to receive payments each month. In debt settlement, the consumer makes monthly payments, out of which the debt settlement company takes its fees for the legal work or negotiation and payments are paid to the creditor. The debt settlement company may persuade the creditor to accept a settlement less than the amount the debtor pays, with the debt settlement company keeping the difference. Debtors may use debt settlement instead of conventional debt management because they are not aware of debt management. As a concept, lenders have been practicing debt settlement for thousands of years. However, the business of debt settlement became prominent in America during the late 1980s and early 1990s when bank deregulation, which loosened consumer lending practices, followed by an economic recession placed consumers in financial hardships. With charge-offs (debts written-off by banks) increasing, banks established debt settlement departments staffed with personnel who were authorized to negotiate with defaulted cardholders to reduce the outstanding balances in hopes to recover funds that would otherwise be lost if the cardholder filed for Chapter 7 bankruptcy. Typical settlements ranged between 25% and 65% of the outstanding balance. Alongside the unprecedented spike in personal debt loads, there has been another rather significant (even if criminally under reported) change – the 2005 passage of legislation that dramatically worsened the chances for average Americans to claim Chapter 7 bankruptcy protection. As things stand, should anyone filing for bankruptcy fail to meet the Internal Revenue Service regulated ‘means test’, they would instead be shelved into the Chapter 13 debt restructuring plan. Essentially, Chapter 13 bankruptcies simply tell borrowers that they must pay back some or all of their debts to all unsecured lenders. Repayments under Chapter 13 can range from 1% to 100% of the amounts owed to unsecured creditors, based on the ability of the debtor to pay. Repayment periods are 3 years (for those who earn below the median income) or 5 years (for those above), under court mandated budgets that follow IRS guidelines, and the penalties for failure are more severe.
Views: 244 The Audiopedia
Debt consolidation
 
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Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 69888 The Dave Ramsey Show
If Credit Card Companies Sue You During Debt Settlement
 
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http://www.CreditCardReliefFormula.org What happens if a credit card company sues you during debt settlement? It is easy to settle your own debts often for a dime or two on the dollar. Creditors do not often sue you. But if they do, here's what can happen...and you will be absolutely shocked.
Views: 52131 cognitivefun
When Is Debt Settlement A Bad Idea
 
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When Is Debt Settlement A Bad Idea? Have you ever wondered when debt settlement is a bad idea? This type of debt solution occurs when you have defaulted on your payments for many months. In the credit industry, not paying your dues is a big no-no. Creditors will penalize you for it and when you reach the 6 month mark; your debt will be charged off and sent to a debt collector. By that time, your credit score would have gone down significantly. In the debt settlement process, falling behind on your bills actually helps your negotiating situation. It demonstrates that you are in a severe financial situation and need help or else you will be forced to file bankruptcy. In most cases, consumers going for debt settlement usually are behind on their bills either due to a job loss, medical bills or recent divorce. They all need the debt reduction that it offers. The only way the reduction can happen is when you convince the creditor that you can only pay a portion of what you owe - nothing else. Anything beyond what you can afford will have to be forgiven. In the best of scenarios, this is the end result of debt settlement. Unfortunately, not everyone is suited to use debt settlement as their debt solution. There are signs that will tell you that this is a bad idea for your specific financial situation. First of all, if you are not in a real financial crisis, your creditors can see through that. They will see if you are still making payments to your other credit accounts and that will raise their suspicions. They will think that if you can afford to pay the other accounts, you can afford to pay your debt with them. Besides, no legitimate debt settlement company will represent you if you are not in a real financial crisis. Another sign that debt settlement is the wrong debt relief program is when you need your credit score to be in good condition. People who need their credit score intact to buy a house or get a car loan in the near future cannot use this because as mentioned, the missed payments can lower one's score. You can seriously sabotage your credit ranking this way. Lastly, debt settlement can only accept certain debts. So if you have mostly secured loans, tax debt or student loans, you must seek other options to solve your financial problems. This debt relief program can only work on unsecured credit card debt, medical bills, utility bills, and other personal loans. If you do not have the right debt, no debt settlement company will be able to represent you. If you are sure that debt settlement is the right debt solution, you need to choose if you will hire a professional to help you out or do it yourself. You can perform your own debt negotiation if you want to. That will help you save on the service fee. However, you have to know that DIY debt settlement can be tough and intimidating. Make sure you have what it takes to complete the process of the negotiation. Otherwise, you may be better off with the help of a debt professional. Follow National Debt Relief https://plus.google.com/+Nationaldebtrelief/ https://www.facebook.com/NationalDebtReliefGroup http://www.linkedin.com/company/national-debt-relief-group https://twitter.com/nationalrelief_ http://www.pinterest.com/NationalRelief/
Views: 861 debtreliefusa
Suze Orman's Debt Consolidation Tips
 
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Suze Orman gives excellent tips on how to settle up with credit card companies. Ms. Orman is NOT affiliated with Eltman, Eltman and Cooper - she works as a financial broadcaster for CNBC (and as a best-selling author) - but we thought her advice here was helpful, so we uploaded the video to our channel. For more tips on how to get out of debt, check out our Eltman Eltman and Cooper main site, http://www.eltmanlaw.com. Thanks!
Views: 302627 eltmaneltmancooper
How to Pay Off Debt Collectors Once Settlement is Documented
 
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After you have your settlement agreement in writing, there is one final step to complete your debt settlement plan, and that's payment. You should pay the debt collector(s) in a way that is protected, trackable, and in your control at all times. SHARE THIS VIDEO: https://youtu.be/HcqjWHBzDM4 SEE RELATED VIDEOS: https://goo.gl/ee3Zu0 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 2239 Michael Bovee
How Debt Consolidation Works
 
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An animated breakdown of consumer debt relief options presented by http://www.DebtConsolidation.com.
Views: 70479 DebtConsolidation
How Does a Consumer Proposal Compare To Bankruptcy and Debt Settlement?
 
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I've had a few requests to do a video comparing how a consumer proposal and bankruptcy work vs the debt settlement approach we use. In this example I show total time, cost, how it effects the credit rating, and who they work for.
Views: 2597 Total Debt Freedom
The DIY Debt Settlement Guide Your Creditors Don't Want You To Know About
 
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Richard Cooper, CEO & Founder of TotalDebtFreedom.ca, a Canadian based debt settlement company, talks about why he wrote a do it yourself debt settlement guide and published it on Amazon as a kindle book. If you are drowning in credit card debt and looking for a DIY debt settlement guide, this book contains the answers you are looking for. DIY debt settlement can be fast and easy if you follow the tips in Richard's book. When it comes to resolving credit card debt, and do it yourself debt settlement you need to understand the "golden rule". The golden rule says "he who has the gold makes the rules". Well when it comes to DIY debt settlement, you have the money and your creditors want it. By applying the golden rule to your negotiations, you can gain the upper hand when trying to resolve your credit card debt. In this DIY debt settlement guide you will learn: - the golden rule - when the best time of the month to settle your debt is - how much you should offer to settle your debt - what your points of leverage are in DIY debt settlement - why creditors are willing to yeild and take a settlement from you - and much MUCH more Enough is Enough: The DIY Debt Settlement Guide Your Creditors Don't Want You To Know About. Available on Amazon.com
Views: 7941 Total Debt Freedom
Do Debt Settlement Programs Work?
 
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http://www.cambridge-credit.org -- Transcription: We’ve all seen commercials from debt settlement companies claiming to save you 50, 60, or even 75% on your overall debt, all while somehow improving your credit. Using imagery like the American flag, and even news footage of President Obama, they encourage viewers to use debt settlement as a shortcut to dealing with their financial problems. Even worse, these advertisements often misrepresent the effectiveness of such programs, and some even insinuate that the government’s stimulus package provides you with the right to forgo your debt payments. This false advertising goes to great lengths to hide the truth about debt settlement services – a minuscule amount of individuals who use these programs actually gain any benefit. Why doesn't debt settlement work? Credit card companies are generally unwilling to settle for less than what is owed unless there are extenuating circumstances, but if there is a good reason, it can be an option worth considering. For example, let's say you were injured in an accident that left you unable to work. The resulting investigation indicates that the accident wasn’t your fault, but you still have to wait several months before you receive full compensation for your injuries. In the meantime, your lack of income throughout the rehabilitation period results in several of your accounts becoming delinquent. One by one, your creditors begin calling. Without your regular income, it quickly becomes difficult to satisfy all their demands. When you receive your insurance payout, you may decide that it’s in your best interest to settle some of the debts you’ve fallen behind on. In our example, your credit history has already been affected because of nonpayment, and the insurance money can give you a head start on the lump sum the settlement company will demand for “negotiating” with your creditors. It will take time to rehabilitate your credit after a debt settlement – perhaps a long time, and that’s the trade-off you make by settling for less than you owe. In the scenario I laid out there were very specific circumstances that indicated a debt settlement may be a good option. The problem with how debt settlement companies operate is that they don’t work within the confines of your circumstances. Settlement companies will offer their services to anyone who has a specific amount of debt, even if the settlement will eventually devastate someone's credit history. Many debt settlement services insist that a consumer must have at least $10,000 in debt before they’re eligible for the service. Why? Because a debt settlement service is not concerned with helping. Their primary concern is profitability. If you use a debt settlement service, you’re probably going to be set up on a monthly payment arrangement and what most people don’t realize is that those monthly payments are not sent to their creditors. The debt settlement company will keep your money in an escrow account until they have enough money to start negotiating with creditors. Often, the first couple of months of payments may be retained by the company as fees for their service. Therefore, the settlement process can take several months, even years, and as you can imagine, if your creditors aren't being paid, your credit history is going to be significantly damaged. What's even worse is that most people don’t realize what’s happening. When you join a debt settlement company, cease-and-desist letters may be sent to your creditors. If that happens, your creditors will be unable to communicate with you. With no way of determining your intention of dealing with the debt, your creditors may have no choice but to charge off the account after four to six months of non payment. Your account could then be turned over to a collection agency, or to an attorney to begin legal proceedings. By the time this has happened, your original debt will probably have increased significantly due to non-payments, fees, and the interest that has been compounding while the settlement company held onto your money. Some, and I stress some, collection companies and attorneys may entertain a settlement proposal, but even if they do, there are still more concerns you may face. Join me next time when we'll talk about the true costs of debt settlement, including the possible tax implications you could face by choosing such an option. As always, we welcome your feedback and ask for your thoughts and suggestions by e-mailing us at yourmoney2@cambridgecredit.org. Thank you for watching. Until next time, I’m Christopher Viale for Cambridge Credit Counseling.
debt settlement - Suze Orman
 
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Suze Orman
Views: 48528 debtsettlementusa
Bankruptcy is Better Than a Debt Settlement Hands Down...
 
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In this video I provide 4 reasons why Bankruptcy trumps a debt settlement hands down. #1) A bankruptcy provides you a clean slate where as a debt settlement you still have the debt if they dont settle #2) Debt Settlements require the creditor to take less then will send you a 1099 for the difference. Bankruptcy chapter 7 one time payment and you don't have a 1099 to deal with for taxes. #3 Debts could resurface Bankruptcy most if not all debt handled under legal proceeding no worry of it resurfacing. #4 Bankruptcy legal guarantee all debts are taken care of, where as a debt settlement they can come back to go after you again.
Do Debt Settlement Companies Really Work? Credit Card Debt Relief, Finance (2010)
 
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Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. In the U.K. you can appoint an Arbiter or legal entity to negotiate with the creditors. Creditors often accept reduced balances in a final payment and this is called full and final settlement but with debt settlement the reduced amount can be spread over an agreed term. Debt settlement is often confused with debt consolidation or debt management. In debt consolidation and debt management, the consumer makes monthly payments to the debt consolidator, who takes a fee and passes the rest on to the creditors; this way, creditors continue to receive payments each month. In debt settlement, the consumer makes monthly payments, out of which the debt settlement company takes its fees for the legal work or negotiation and payments are paid to the creditor. Unlike U.K. debt management there are no monthly management fees, the debt settlement company may get the creditor to accept a settlement of 40 pence in the pound, but the client pays 50 pence in the pound. The debt settlement company benefit from the extra 10 pence in this case. In the U.K. creditors such as banks, credit card, loan companies and other creditors are already writing off huge amounts of debt. Most creditors are open to negotiations and are willing to accept reductions of 50% or more. Debt settlement allows the public to spread payments out over a set term - instead of having to pay a lump sum in one go which is the case with Full and Final Settlement. Many people are taking advantage of Debt Settlement instead of conventional Debt Management because they have not seen debt management offer the benefits sold to them. U.K. debt settlement is not to be confused with full and final settlement where debt management companies have been known to hold onto client funds in which case the creditors get nothing until they decide to settle. Furthermore, the debt management company usually instructs the consumer not to make any payments to creditors. The intended effect is to scare creditors into settling the debt for less than the full amount. Typically, however, creditors simply begin collection procedures, which can include filing suit against the consumer in court.[2] As long as consumers continue to make minimum monthly payments, creditors will not negotiate a reduced balance. However, when payments stop, balances continue to grow because of late fees and ongoing interest.[1] This practice of holding client funds is regarded as unethical in the U.S. and U.K. U.S. debt settlement differs slightly. There are several indicators that few consumers actually have their debt eliminated by full and final settlement. A survey of U.S. debt settlement companies found that 34.4% of enrollees had 75 percent or more of their debt settled within three years.[3] Data released by the Colorado Attorney General showed that only 11.35 percent of consumers who had enrolled more than three years earlier had all of their debt settled.[4] And when asked to show that most of their customers are better off after debt settlement, industry leaders said that would be an "unrealistic measure." [5] Consumers can arrange their own settlements by using advice found on web sites, hire a lawyer to act for them, or use debt settlement companies. In a New York Times article Cyndi Geerdes, an associate professor at the University of Illinois law school, states "Done correctly, (debt settlement) can absolutely help people". However, stopping payments to creditors as part of a debt settlement plan can reduce a consumer's credit score from 65 to 125 points, with higher impacts on those who were current on their payments prior to enrolling in the program. And missed payments can remain on a consumer's credit report for seven years even after a debt is settled. Some settlement companies may charge a large fee up front, which ignores a rule from the Federal Trade Commission. Or they take a monthly fee from customer bank accounts for their service, possibly reducing the incentive to settle with creditors quickly. One expert advises consumers to look for companies that charge only after a settlement is made, and charge about 20 percent of the amount by which the outstanding balance is reduced. Other experts say debt settlement is a flawed model altogether and should be avoided. http://en.wikipedia.org/wiki/Debt_settlement
Views: 5913 The Film Archives
Settle with credit card
 
06:07
Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 41813 The Dave Ramsey Show
The Secret of credit card  Debt Settlement explained in video
 
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In this Reducemydebt.net / MyDebtPortal.com video our founder talks about the "Secret" that all the debt settlement companies use. He explains how debt settlement in general works and how Reducemydebt.net in specific works to help you get out of credit card debt for less than you owe! This is one video in a series of videos that we have published.
Views: 3349 reducemydebt
Bankruptcy vs. Debt Settlement: Which Makes the Most Sense for You?
 
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Debt settlement can be a reasonable alternative to bankruptcy but before choosing one path over the other, it makes sense to compare the pros and cons. I recently ran across an article at Nerdwallet - see https://goo.gl/HEhzcR where author Liz Weston points out some of the less obvious negatives of debt settlement. As I discuss in this video, debt settlement can take longer, cost you significantly more money and can leave you with a surprise tax burden. Further, your credit may bounce back much quicker following a bankrutpcy. On the other hand, there are some types of debts (student loans, taxes, restitution) that cannot be easily discharged in bankruptcy and there may be some jobs (i.e., those with certain security clearances) where bankruptcy would not be a good idea. At Ginsberg Law, we regularly help our clients analyze the pros and cons of bankruptcy vs. non-bankruptcy alternatives. If you are at the point where you need to do something, let us advise you. =====FREE DEBT DESTROYER SURVIVAL KIT==== Don't know where to begin? Download my free "Debt Destroyer" Survival Kit at https://bit.ly/BK-survival-kit ========================================= ===========FREE CASE EVALUATION========== If you would like me to analyze your finances please contact me at https://bit.ly/Contact-Gins ========================================== ===============CONTACT ME================= Jonathan Ginsberg Atlanta Bankruptcy Attorney Website: https://www.atlanta-bankruptcy.com Facebook: https://www.facebook.com/ginsberglaw/ Telephone: 770-393-4985 https://bit.ly/Contact-Gins =========================================== **Click Below to SUBSCRIBE for More Videos: http://www.youtube.com/subscription_center?add_user=ginsbergbankruptcy
Collection Agency Won't Negotiate With Me
 
04:52
Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 31937 The Dave Ramsey Show
Negotiating with creditors
 
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If you’re struggling to pay down your debts, there may be a way to adjust your rate or payment plan. Here’s what you need to know to start negotiating with creditors.
Views: 6343 Bank of America
What Is Debt Settlement and How Is It Different From Debt Consolidation
 
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What is the difference between debt settlement and debt consolidation? Find out from San Diego debt relief attorney Daniel Gamez. Find out what debt relief option for credit card debt, student loan debt, medical debt, small business debt and second mortgage debt is right for you. A debt settlement strategy does not seek to replace existing debt with a new loan, as with consolidation. Instead, debt settlement is a series of negotiations between your creditors and you (or a credit counselor) to make payments – usually lump-sum payments – for amounts less than you currently owe. Visit http://www.gamezlawfirm.com/debt-settlement/ for a free debt consultation to begin your path to a debt free life!
Views: 368 Gamez Law Firm
How to settle a credit card debt in uae -  Debt settlement in uae
 
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Financial stress can severely affect personal and professional life. AL ITTIHAD , we will illustrate how to take control of your finances and achieve financial freedom. By implementing unique skills and expertise, we build a path for our clients which lead them towards a Debt Free Life.
Views: 3754 F. R
How to Settle Credit Card Debt with your Original Creditor
 
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Today, we have some tips and tools for settling credit card debt directly with your original creditors. Learn how to time your settlements just right, for the best offer, and save the most money. Payment plans and debt reduction are definitely possible, with the right information. SHARE THIS VIDEO: https://youtu.be/l0g50NHykmY WATCH MORE RELATED VIDEOS: https://goo.gl/efd1Eq LEARN MORE ABOUT SETTLING DEBT YOURSELF: http://consumerrecoverynetwork.com/you-can-do-debt-settlement-on-your-own/ ON DEBT SETTLEMENT AND TIMING OFFERS: http://consumerrecoverynetwork.com/best-debt-settlement-timing ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 33001 Michael Bovee
Debt Settlement & Credit Card Debt - Companies & Programs Canada
 
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Facts about debt settlements, debt settlement companies and credit counselling that you need to know. Your future depends on making an informed decision on how you pay off your debt. Debt settlements aren't for everyone. Find out why and don't be sucked into a program that won't work for you - and could create even more debt. You have other options, like a debt management program that may suit your situation better. Contact the Credit Counselling Society today at 1-888-527-8999 or visit us at www.nomoredebts.org and become debt free.
Debt Settlement Letters and How to Document your Agreements
 
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Settling debt requires documentation. There are some settlements with your bank give you a verbal agreement to a payment setup to be drawn 1 to 3 weeks later that allows for a mailed settlement letter to arrive. SHARE THIS VIDEO: https://youtu.be/QYgxjUm0vf4 WATCH MORE RELATED VIDEOS: https://goo.gl/efd1Eq FOR SETTLEMENT EXAMPLE LETTERS: http://consumerrecoverynetwork.com/debt-settlement-letters-examples-results/ BETTER UNDERSTAND THE IMPORTANCE OF THESE LETTERS : http://consumerrecoverynetwork.com/debt-settlement-letters-agreements ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 6553 Michael Bovee
Pros And Cons Of Debt Settlement Programs
 
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The Cost of Debt Settlement
 
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http://www.cambridge-credit.org -- Transcription: Hello, and welcome to Your Money 2.0. I’m Christopher Viale, president of Cambridge Credit Counseling. In our last episode we discussed the harmful effects that debt settlement services can have on an individual's credit profile. I described a scenario in which the services provided by such an organization actually increased the client’s indebtedness due to the fees and interest that were compounding while the settlement company held onto their client’s money. In this episode, we’re going to show you just how costly this practice can be. The debt settlement industry generates a LOT of money; unfortunately, most states don’t have the manpower or money themselves to ensure that each settlement company is compliant with state consumer protection laws. Unlike non-profit credit counseling services, which employ salaried professionals who’ve been trained and certified to conduct counseling sessions, the front-end salespeople you speak with at many settlement companies are commission-based employees who have a financial stake in your enrollment. The more consumers the salespeople sign up, the more money they make. It’s as simple as that. While there are exceptions, the potential conflict of interest can tempt individuals to say whatever it takes to ensure that you sign up with their service – and sometimes that service could be completely inappropriate for the consumer’s circumstances. Just how much will a debt settlement cost you? Let's take a look at a hypothetical case. In our example, Tom, a typical consumer, has $20,000 in credit card debt when he joins a debt settlement company, which quickly establishes a program to deal with his obligations. The company creates a $400 monthly payment, to be paid over the next 36 months. Among the first debts the company intends to settle is Tom’s ABC credit card, which has a balance of $5,000. Because the settlement company is taking in only $400 per month from Tom, it has to wait while the funds necessary to offer a settlement build up in Tom’s escrow account. Six months go by…twelve months go by, and the debt with ABC Credit Card, due to nonpayment, has increased to $6,000. At this point, the settlement company may finally be able to negotiate a settlement for $3000, claiming they saved Tom 50% on his debt, when in actuality the starting balance was only $5,000. So what if the actual saving was only 40% - that may seem pretty good to Tom. But did he really save that much? Let’s keep digging. If, as a result of a debt settlement, an individual’s creditor forgives more than $600 in principal, which is the case in our example, that amount is considered taxable income. Lenders are required, by law, to send the consumer a Form 1099-C and alert the IRS as to the portion of savings that are taxable. The consumer must report that amount as Discharge of Indebtedness, or DOI, income. Although the forgiveness of interest and fees is often not taxable, a consumer will be responsible for reporting the principal balance savings as income. So, in our example, Tom would be taxed on at least $2,000 of the $3000 that was forgiven by his creditor. Assuming he’s in the 25% tax bracket, Tom would owe $500. Tax liability is just one of the costs Tom would have to take into consideration. In our example, over the 12-month period that Tom used the service he paid $400 a month, for a total of $4800. $3000 was used to settle the debt, and the company took the remaining $1800 as their fee for arranging the settlement. Let's do a little math. The result of settling the original $5,000 debt cost Tom $3,000 to settle, plus the $500 tax liability, plus $1,800 in fees. In total, Tom paid $5,300 to settle a $5,000 debt - and that’s before we consider the impact that the settlement had on Tom’s credit! And let’s not forget, in our example, Tom owed $20,000 when he first enrolled with the settlement company. He still has another $15,000 in debts, probably spread over several credit cards, that the debt settlement company needs to reduce. He may eventually find himself saddled with thousands of dollars more in debt and fees, when all he was really trying to do was find financial relief. As the old saying goes, if it sounds too good to be true, it generally is. Debt settlement services can wreak havoc on your finances and your life. Consider a reputable credit counseling agency whose counselors work with you to help you regain control of your finances. Well, that’s it for this edition. As always, we welcome your feedback and ask for your thoughts and suggestions by e-mailing us at yourmoney2@cambridgecredit.org. Thank you for watching. Until next time, I’m Christopher Viale for Cambridge Credit Counseling.
Student loan debt settlement
 
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You may have heard that student loan debt is impossible to deal with. That the monthly payment set out in your statement is not negotiable and that if you don't pay, your tax refunds will be seized, your wages garnished and your credit destroyed. Hi, I'm Jonathan Ginsberg and for the last 25 years I have served clients as a consumer bankruptcy lawyer. And let me tell you that very little is written about student loans in the bankruptcy world. Ask most bankruptcy lawyers and they'll tell you, correctly, that student loan debt cannot be discharged in bankruptcy unless you can show extreme hardship, a standard which is almost impossible to prove. So if you call most bankruptcy lawyers and ask them "what can I do about student loans," the answer will be - there is nothing I can do, you have to pay them. If you stop there, however, you're only getting half the story. Yes, bankruptcy law is unforgiving. However, federal laws outside of bankruptcy contains a multitude of provisions that allow you to restructure your loans to get a lower monthly payment based on your budget, and provisions that allow for partial or total forgiveness of loans. And that's just the beginning. I ran a quick count and I have come up with 29 different strategies that may be available to you to decrease your payment and/or reduce your total balance. Unfortunately, many of these borrower friendly laws are buried in the statute books and not well understood or explained. According to government statistics, only about 2% of eligible student loan borrowers are currently taking advantage of debt reduction plans that they qualify for. Only 2%. That's why I have added student loan debt settlement to my law practice and why I have created this web site. So, if you owe money for student loans and you are unhappy with the size of your monthly payment, call me. Even if you are in default I can probably help. I'm attorney Jonathan Ginsberg and you can reach me at 770-393-4985 or email me using the form on this page. I look forward to helping you eliminate the stress in your life caused by student loans.
Views: 3507 Jonathan Ginsberg
Credit Counseling 101: Debt Management VS Debt Settlement
 
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A Debt Management Plan may be the right option for people who are really struggling to satisfy their debts. For confidential advice from an NFCC trained, certified counselor, call 1-800-388-2227 or visit www.DebtAdvice.org.
Views: 3411 NFCC
Debt Settlement Scams
 
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Video about debt settlement scams.
Views: 1727 ComplaintsBoard
The Truth About Debt Settlement
 
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A video explaining the truth about debt settlement and its alternatives. If you're in debt you need to read this. Also if you want to know more about how to deal with creditors then get my ANTI-DEBT COLLECTORS CHEAT SHEET https://dumpdebt.gr8.com Is debt settlement legit? https://dumpdebt.info/debt-settlement-right/ Does credit repair work? https://dumpdebt.info/does-credit-repair-work/
Views: 4127 The Rainbow Right
Dealing With Debt: Debt Settlement
 
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Maybe you've seen the ads: go to a debt settlement company, cut your debts in half. Is it for real?
Views: 1608 Money Talks News
Settling Credit Card Debt with Wells Fargo
 
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Wells Fargo bank has long been a consistent when settling credit card debt with delinquent account holders for roughly 40% of the balance you owe (sometimes less, sometimes more). Wells Fargo is also one of few creditors that can ask for documentation to the extent that they do prior to settlement. SHARE THIS VIDEO: https://youtu.be/7SfQkm-T8kc WATCH MORE RELATED VIDEOS: https://goo.gl/efd1Eq ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ For more tips on how to get out of debt, SUBSCRIBE ➤➤➤ http://bit.ly/1ZPZ8Q2 ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ ▼FOLLOW ME: LinkedIn - www.linkedin.com/in/debtbytes Google+ - http://plus.google.com/+MichaelBovee Twitter - http://twitter.com/debtbytes Facebook - https://facebook.com/consumerrecoverynetwork/ ▼READ OUR BLOG: http://consumerrecoverynetwork.com ▼FIND YOUR DEBT SOLUTION: http://consumerrecoverynetwork.com/debt-solutions-review/ ▼ASK ME ANY QUESTIONS YOU HAVE: http://consumerrecoverynetwork.com/ask-a-question/ (reader questions for our channel are selected from here) Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Views: 3988 Michael Bovee
Debt Management vs Debt Settlement
 
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http://bestdebtcompanys.com/anthony-manganiello/ Anthony Manganiello, Author of The Debt-FREE Millionaire and creator of www.DebtFreeAcademy.com, discusses some of the differences between debt management, consolidation and debt settlement. Your personal situation will determine what type of debt relief you need. The amount of debt you have, if you're behind on payments, the state you live in, the number of creditors you have, and many other factors all contribute to the type and amount of help you can expect from different companies. It's important to educate yourself about your debt relief options. Participating in a free consultation with a company could help you understand your options much better. If you're interested in learning more about these subject, or finding a company to help you, you find them on BDC at http://bestdebtcompanys.com.
Warning About Debt Settlement Companies
 
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http://www.DebtWorkoutCoach.org The New York Times has an article about credit card companies and banks making offers to consumers to settle debts for a fraction of the original amount they owe. If consumers can get these offers from banks, why do they need debt settlement companies? And why are they paying such large amounts of money to debt settlement companies? Is this a scam?
Views: 5740 cognitivefun
Is Debt Consolidation A Good Thing?
 
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Debt consolidation... is it a good thing? It can be good or bad depending on why you want to do it. First, let me ask you if you're coming at life from a consumer mindset, or an investor mindset. The reason I ask, is there are good debts, and there are bad debts. When you consolidate consumer debt, you are doing something really smart. When you are consolidating good debts, business debt, or investor debts that make you money, it may or may not be a good idea. The typical goal of debt consolidation is to pay off the debt, but you don't typically want to pay off good debts. Instead, you control them for a while, then let them go. Watch and Enjoy! Kris Krohn & Nate Woodbury RESOURSES: ======================== Limitless 3 Day Event: http://bit.ly/2j5r8wM Get Mentoring: http://bit.ly/2lPGp9d Real Estate Investing Help: http://bit.ly/2lPGp9d Free Real Estate Audiobook: http://bit.ly/2oiORxy Free Conscious Creator Audiobook: http://bit.ly/2sZmaYU EQUIPMENT ======================== Camera: http://amzn.to/2oRnnAA Favorite Lens: http://amzn.to/1QEqTF4 External Mic: http://amzn.to/1Sx8Jq0 Camera Backpack: http://amzn.to/2oy5JAR MUSIC ======================== Tobu - Infectious https://www.youtube.com/watch?v=ux8-EbW6DUI Artist: https://www.youtube.com/tobuofficial Licensed under Creative Commons — Attribution 3.0 Unported— CC BY 3.0 Support This Channel: ======================== ==SUBSCRIBE== http://bit.ly/1TOqKBN ==LIKE== Your "Likes" help more people find our videos. ==COMMENT== Comment and ask Questions ==PATREON== https://www.patreon.com/REInvestorTV ======================== Video by Nate Woodbury (The Hero Maker) BeTheHeroStudios.com http://YouTube.com/NateWoodburyHero
Views: 5073 Limitless TV
How Does Debt Settlement Affect Your Credit - Chandler Debt Attorney
 
01:53
Nielsen Law Group Attorney - Levi Hatch - discusses how debt settlement affects your credit. Schedule your free debt settlement consultation today. Call (480) 888-7111. Check out our website for more information at www.nielsenlawgroup.net. Nielsen Law Group has offices in Chandler, AZ and Redlands, CA. Facebook: https://www.facebook.com/pages/NielsenLawGroup Twitter: https://twitter.com/NielsenLawGroup Blog: http://www.nlgblog.com NOTE: The information provided in this video shall not constitute legal advice. Information is provided solely for educational purposes.
Views: 2043 NielsenLawGroup
Why Debt Consolidation and Debt Settlement Do NOT Work!
 
01:45
Why debt consolidation and debt settlement do NOT work when you cannot afford to pay. Watch https://www.youtube.com/watch?v=0vJNXN-vuoc or visit http://creditsabre.com Alternatively, call 508 796 5101. My channel is https://www.youtube.com/user/melthompsoniii Hi, my name is Mel Thompson. A few years ago I owed $63,000 in credit card debt I could not afford to pay. I was forced to find non-payment alternatives to bankruptcy. You need to ask yourself, if I cannot afford to pay my credit cards, how can I afford to set that debt settlement money aside for a future lump sum settlement? It could take a minimum of six months and up to a year or two for you to save enough money to be able to negotiate a lump sum reduced settlement of the amount of credit card debt you owe. Very few people can forgo the purchase of, or payment for at least some monthly necessities, for that long, to save enough money for a lump sum settlement. As unbelievable as it may sound, selective non-payment of credit card debt you cannot afford to pay is a better option than debt settlement for dealing with that credit card debt. Learn why banks have a great deal of difficulty actually documenting individual consumer credit card debt to court standards, to win judgments against consumers who owe . . . And why that reality, makes threatening debt collectors easy to defeat with the proper written communications. My name is Mel Thompson. I have helped many people get control of credit card debt they could not afford to pay. Visit my website and blog for more information. What I learned by writing to and communicating with debt collectors and collection attorneys is that they cannot make any money from people who owe, but who also know exactly how to legally resist their collection efforts . . . even court action. Debt collectors are paid on a percentage of what they collect. They are simply not going to waste their time attempting to collect from someone who knows how to legally resist them. The really neat thing I learned . . . was how little resistance it takes to frustrate debt collectors and collection attorneys. One or at most a few properly worded CMRR letters will make them decide they do not want to spend any more time with us. What happens when we frustrate one debt collector or collection law firm attempting to collect a credit card debt from us, is that that debt gets passed onto another debt collector who starts afresh with us. Believe it or not, this is a sign we are winning the battle. Each time we hear from a new debt collector, we just send them the same old letter CMRR. With my six credit card debts this process happened about every three to six months for the first two years. Then for the next two years it happened once or twice a year until, finally, no more debt collection attempts from anyone. The conventional means of credit card debt relief are all full- or partial-payment solutions. Debt settlement, debt consolidation loan, or debt management plans just do not work if you cannot afford to pay. A recent study reported only 20 percent of debt management plans are ever completed. And, paying credit card debt with other credit cards, or worse a home equity loan is simply thoughtless (some credit card consolidation loan try to offer this). If you cannot afford to pay without sacrificing monthly essentials, do not pay because you think you have no choice. You do have a choice. There is one conventional means of non-payment. And, that is bankruptcy. What is the worst that can happen to you? The answer is bankruptcy. But, bankruptcy WILL stop a court judgment, if things should ever get that far. Here is why non-payment without filing bankruptcy such good path to credit card debt relief. Make credit card debt relief by non-payment a strategic decision. If you can do this rationally leaving your emotions -- fear, guilt, feelings of helplessness -- out of it, then you can greatly reduce your suffering and worry from your credit card debt problems. Sometimes, large businesses are forced not to pay less important creditors. Just make this a rational, business decision. Clearly, this insider knowledge about the weaknesses of credit card debt collectors is the key to you making this decision. You can read my blog posts and pages on my web site and learn more about the credit card debt collection process, and the naked opportunistic, defeatable nature of debt collectors and debt consolidation services. Don't delay else your situation may get worst -- Be free of worry and hassle from debt collectors by visiting calling Mel on 508 796 5101 Debt free calculator http://money.cnn.com/calculator/pf/debt-free/ https://www.youtube.com/watch?v=kCXg4K43l1E
Views: 4459 Mel Thompson
What is the Difference between Debt Settlement and Debt Dismissal?
 
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Debt Settlement or Debt Dismissal? Hi, my name is Jeremy Marcus and I will be sharing some financial knowledge with you. Today, I would like to discuss debt settlement and debt dismissal. Settling one’s debt is a goal for most Americans. But what if you could get some of your debts dismissed? When speaking to clients about their debt, I often ask, "Are you interested in debt settlement or debt dismissal?" Their response usually is, "What’s the difference?" In debt settlement, a debtor and creditor agree to settle the entire debt as a reduced balance. Often removing a significant portion of the debt. The settlement company handles the creditors, but there can be negative outcomes for debt settlement. Some of these negative outcomes for debt settlement are:- owing taxes on the settled debt - debt settlement can have a negative impact on your credit score- owing taxes on forgiven debt- a drop in credit score due to late payments while waiting for settlement- finally having a late payment history that remains on your credit. Also don’t forget that a “charged-off settled” or “paid-settled” status is not the same as a “paid in full” status. It is important to watch for these signs of fraud or incompetence when dealing with debt settlement companies: • A company requesting that you pay fees before it settles your debts • One pitching a “new government program” to bail out personal credit card debt • If they guarantee they can make your unsecured debt go away • A company that tells you to stop communicating with your creditors, but doesn’t explain the repercussions • If they promise they can stop all debt collection calls and lawsuits • A company that guarantees your unsecured debts can be settled for a small fraction of the amount owed In debt dismissal, the burden to prove the debt is on the lender. If the debt buyer cannot produce proper documentation of the debt, the case could be dismissed. This means that your debt is no longer valid and you won’t have to pay any more to the debtor. Here are some reasons why debt collectors can have difficulties proving a debt: - inaccuracies and miscalculations - legal technicalities - fraud - lack of records from the original creditor If a debt collector tries to sue you, do not ignore the lawsuit. Many cases are dismissed when the consumer filed a written answer. In many claims, there was never an intention to produce proof that a consumer owes the debt and the claim can't be supported. What exactly do debt dismissal programs do? • They try to get debt discharged based on inaccurate information and the lack of evidence • They demand validation and verification of the debt collector's legal authority to collect the debt • And They look for signs of fraudulent debt collection practices related to the account. Violation of consumer rights can be enough to get the debt dismissed. If the debt collector can’t provide accurate information that you owe the debt, you can get it dismissed! You might be a candidate for debt dismissal if: • You have been harassed by debt collectors after you asked them to quit calling • You have been charged outrageous late fees • Your name and personal information is inaccurate on the supposed debt • The services or goods were never received • Someone else used your identity to accumulate the debt In the end, it is vital that you know what you are trying to accomplish and what the program is offering before agreeing to the services. Ask plenty of questions, do you research, and know the possible outcomes so that you use a company that is trustworthy. Do you have questions about debt dismissal? Ask them on my social media pages or on my website. As always, tune in next time for more financial tips... https://www.jeremymarcusfinance.com/
must you STOP making payments to settle credit card debt?
 
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http://www.FinancialSuccessInstitute.org Must you stop making payments to your credit card companies if you want to do a debt settlement? This video explains the process step by step.
Views: 4535 cognitivefun
Thinking about filing for bankruptcy. Would debt settlement or debt negotiation be a better option?
 
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Q. I've been thinking about filing for bankruptcy. Would debt settlement or debt negotiation be a better option? A. There is no one size fits all debt relief program that will work for everyone. This goes for debt settlement, credit counseling, debt consolidation loans and even bankruptcy. You should consider all your debt relief options before choosing one. If you file for chapter 7 bankruptcy you will get all or most all of your unsecured debts discharged typically in less than 6 months. This typically includes personal loans, personal lines of credit, credit cards, old cell phone bills and medical debts. Chapter 13 bankruptcy is a repayment plan that requires you to pay back some of what you owe. It has about a 33% success rate according to the Department of Justice. So if you cannot qualify for chapter 7 you should take a good look at debt negotiation. You have a better chance of successfully resolving your debt with debt negotiation than chapter 13. You will have a very hard time getting new credit for two to three years after your bankruptcy filing. When you are able to get new credit it will be high interest/low balance credit. This means it will have a low balance of maybe $500 or less and an interest rate of 19% or even higher. Your insurance premiums will likely go up and you may find it hard to rent a house or an apartment for a couple years. A bankruptcy will stay in your personal file for the rest of your life. Since most employers now routinely check their applicants’ credit histories the bankruptcy could actually keep you from getting a good job. Debt negotiation will also impact your credit score though not as severely as a bankruptcy filing. This is because your debts will be reported to the credit bureaus as "partial payment accepted," "settled for less than full balance" or "settlement." This information, too, will stay in your credit report for seven years. The effect will diminish over time though. Once all your debts have been resolved you will be able to get new credit faster since you will have no debt and a good debt to income ratio. If you’re thinking about filing bankruptcy, visit https://www.nationaldebtrelief.com to learn about all your debt relief options first from a top rated and BBB accredited company.
Views: 323 Paul Ritz
Credit Card Debt Settlement Lawyers
 
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www.mccarthylawyer.com McCarthy Law's attorneys provide credit card debt negotiation and debt settlement services. If you've been sued by your credit card issuer or are involved in a credit card lawsuit, we can help. McCarthy Law offers a free consultation with an attorney to discuss debt solutions without bankruptcy. We have offices in Los Angeles, San Diego and Phoenix.
Views: 1237 Kevin Fallon McCarthy