Debt Counseling Has
become
Mostly a Scam On the Same Level as ...
a) Pyramid schemes
b) Envelope stuffing
c) Multi-Level Marketing
d) and Chain letters
In the 80's it was pyramid schemes. "Send $100 to five people on list one and
send $50 to ten people on list two and drop one person from each list and after
30 days you will have a million dollars." When people wised up to the scam,
then came the multi-level marketing.
"Recruit 10 people in your down-line and have each of them pay $40 for a
marketing kit. You get 30% of their sales. If those ten people recruit 10 more
people, you get 10% on their sales. Continue this for 5 more levels and then
you will become a regional director and be making $100,000 per month". When
people wised up to the scam, then came envelope
stuffing.
"Business opportunity. Make $10,000 a month part-time stuffing envelopes.
Send us $5 for the how-to kit" When people wised up to this scam, then it became
debt consolidation."
"Turn over large chunks of your pay check to us and we will reduce
your payments and free you from the hassle of paying your bills. Trust us.
Don't ask us how we get paid because we are a non-profit
organization. Concentrate on the moving target. Concentrate on the
great hope of better credit down the line. Concentrate on your fear of
bankruptcy. Concentrate on your guilt for running up your
credit cards. Don't worry about what we do with the money you blindly send us.
Don't worry about our hidden fees or about if we pay ourselves
first. Don't worry about when or if we ever pay your creditors. It is no longer
your problem. Instead, concentrate on saving your credit. Concentrate on
avoiding bankruptcy. Don't ask for a guarantee of any kind. We do
not guarantee to reduce your monthly payments. We only say we will. We do not
guarantee to pay your creditors on time. We want you to assume we will. And most
important of all, we do not guarantee to protect your credit. Just trust us
because we are non-profit. "
The debt consolidation business has become the scheme of choice for many
get-rich-quick operators. It seems like everyday, there are a dozen or more new
operators. It is like the gold rush of the West and the gold they are rushing
for is your money.
They Claim to be Non-Profit But...
They Will Make From $2000 to $7000 Per Customer -- And
That is You.
Debt counseling companies get paid many different ways. They get paid by
you in hidden fees and charges which they do not disclose on their web sites.
"Just fill out the form and get a free quote," they urge you. Often times, you
are lead to believe that the only fee they will get is from the credit card
companies. Here is how the scam works...
Let's say the the credit card companies want a combined $600 per month
instead of the $1,200 that you are currently paying, you have no way to know
that. This is because that information is sent directly to the debt
consolidation company and not to you.
The consolidation company can turn around and quote you a payment of $800
and you will not know the difference. This is because they all insist that you
sign over to them power of attorney to handle your bills.
They Will Demand That You Give Them Power
of Attorney But...
They Will Not Tell You so Upfront on Their Web Sites Until
You are Hooked.
Almost all credit counseling companies demand that you sign over to them
power of attorney. They will not say so on their web sites but after they have
hooked you into becoming their customer, they will have you sign a power of
attorney form.
When you give them power
of attorney,
you have given them a license to rob you.
After signing over to them power of attorney, you have basically said to
them, "Treat me as if I were mentally incompetent and handle my finances as
you see fit." You wouldn't give your best friend power of attorney, yet at the
drop of a hat, you will give it to the new non-profit consolidation
masters, many of whom are in it only to line their pockets with your money.
Because of the power of attorney, the credit card companies will deal only
with them and whatever lowering of payments that the credit card companies
give, it is given only to them. If the lower interest has reduced your
payments to a combined $600 per month, many of the credit counselors will tell
you that it is $800 instead. This way, each month these non-profit
organizations pocket $200 in addition to the 15% that the credit card
companies pay them.
Do the math. $200 + $90 (15% of $600) = $290 per month. If you stay with
the program of 24 months, that is a whopping
$6,960 that you would have paid to the debt consolidation
company alone. Now, it is all legal and you cannot accuse them of stealing
because it is all in the fine print that you agreed to.
Their Fine Print will Ruin You.
If You Thought You Were in Financial Trouble, You Have
Seen Nothing Yet
Have you ever seen a link on any debt counseling web site for their
agreement? You will see links for their privacy statements but you will never
see a link for their agreement. That is because, like insurance policies, their
agreements are written to be understood only by attorneys and you only see after
you have said yes to them.
Here is an example...
"You agree to pay a transaction remittance fee of only 1.12% of the
balance per month."
What does this clause in one of their agreements mean? 1.12% seems very
small right? Wrong! let us do the math. If your total credit card balance is
$20,000, then 1.12% of that is 0.012 X $20,000 = $240.
1.12% may seem small until you realize that they are asking you to
agree to pay them $240 per month. If the credit card companies agreed to a new
low payment of $600, then $240 of that amount is taken off the top by your
credit counselor before passing the balance to the credit card companies.
They Will Pay Themselves First, No Matter
What, But...
They Will Not Say so on Their Web Sites Until You Have
Been Hooked.
The example above was taken from a contract of one of the big credit
counseling companies that advertises aggressively on television. A debtor had
enrolled with them not realizing that they were taking $240 off the top of her
payments on top of the $90 per month that the credit card companies were going
to pay them. In fact, that was not the bad news.
The bad news was that they took the first six months of their fee before
starting to send payments to the credit card companies. The debtor became
aware of this only after she got a copy of her credit report and was horrified
to see how much worse it had gotten. Here is how it works...
They know that credit
counseling does not work and
that most people will drop out
before it is over,
so, to guarantee their "non-profit" cash flow,
they devise a scheme to collect a big chunk of their fee upfront. Many of
them put in their agreements, small print that says in complicated legal
jargon, that they can pay themselves first. The result is that many debt
counseling companies will not pay the credit card companies for 4 to 7 months
until they have gotten $2,000 to $3,000 of their own fees first.
This guarantees them that even if all their customers drop out and
file for bankruptcy, they will have made at least $2000 on each customer.
Debt Consolidation Will Ruin Your Credit,
But...
They Lead You into Thinking That it Will Improve.
Why will anyone consider debt consolidation? Good credit, of course. Yet,
the opposite is what will actually happen.
Credit card companies do not re-negotiate
their agreement
just because you are in a debt counseling program! Only
bankruptcy can force their hand. If your interest rate is 25%, that will not
change. They will temporarily change their collection rate, but not the actual
interest rate. It is the changing of their collection rate that lowers your
payments. With some of them, if you complete the 3 or 4 year program, they
will consider the debt settled at the collection rate.
On the other hand, if you miss payments or cannot complete
the program, you are back where you started -- only this time much worse.
Because the real interest rate has not changed, you are delinquent the
whole time you are under the consolidation program.
In other words, debt counseling companies are nothing more than
collection companies. Having a creditor hire a collection company to go
after you does not improve your credit. It makes it worse.
Not all credit counseling companies are bad. In fact there are many good and
honest companies. The trouble is finding them. Years ago, one could say that for
every bad debt counseling company, there were five good ones. Now, with
everybody and their grandma entering the business, the opposite seems to true.
Here is a direct quote from Bank Rate Monitor, a respected
authority on financial matters.
Does Credit Counseling
Hurt Your Credit Record?
By Robert K. Heady
Bank Rate Monitor
If you're enrolled in a credit counseling
program, does it help you or hurt you if that fact shows up on your credit
report when you apply for a mortgage or other loan?
It depends on whom you talk to.
- It's "a big red flag, a warning," say some mortgage
lenders who see credit counseling as a sign that the consumer hasn't been
able to manage his or her debt and make payments on time.
Here is the full article,
http://www.thebullandbear.com/articles/2001/0601-heady2.html
|
Finding a good debt consolidation company is like playing
Russian roulette with your financial future.
There are so many bad ones and there is really no way to tell the good debt
consolidation companies from the bad ones.
- You cannot go by how professional their web sites look. Some of these guys
make millions of dollars a year and can afford the most flashy web site.
- You cannot go by their record at the Better Business Bureau because many
of the bad ones keep changing their names every few months. They often sell
under dozens of affiliates and so you can never link them to their history.
- You cannot go by their size. Some of the worst offenders are the biggest
debt counseling companies in the country.
Case in point: One of the biggest debt counseling companies in the country was
forced into refunding millions of dollars to the public and a year or two
after that settlement, they are reported to have quadrupled their operation.
Go figure.
Bankruptcy
Wipes Out Debts Instantly
Consolidation Prolongs the Pain
Exposing the secrets of the credit counseling
industry is a cause dear to our hearts, but before
we get carried away with it, let us tell you what we
can do for you.
- We offer the fastest and most powerful
tool for preparing bankruptcy documents.
- We do it completely online, in real time,
so there is no software to install on your
computer.
- We give you a free trial of the platform
right here on this page to prove that it works.
- You use our bankruptcy platform at your
own pace. You can complete your bankruptcy
in one hour or you can take your time, several
days if you like.
- You save your data as you go along so that you
can return later to continue where you left off.
- All you do is type in your bills in a
simple online form like the one at the
bottom of this page.
- You press the print button and out comes
everything you need for a complete bankruptcy in
about 10 seconds.
When others use the word Online, it is only
a play on words. What they really mean is that you
submit your bills on their web site. That is where
their online ends. They stack your job along with
dozens of others and get to typing your documents
when they have time.
When we say
online, we mean that we have a software
platform
on our web server available (24/7) every single
second of every day, working non-stop to
create your perfect bankruptcy documents at
the touch of a button.
|
Inside Info |
Did you know...
That even with a Chapter 7 bankruptcy, you can
drive a luxury car and live in a mansion that
the court cannot touch? Find
out how after registering. |
They e-mail spam us to
death,
they are on TV and radio,
they dominate the search engines and their banner
ads can be seen on every major portal such as MSN,
CNN, Yahoo and MSNBC.
Have you ever wondered why in the last year or so,
there has been a massive
assault on the public by debt consolidation
companies? They go by all sorts of
names, credit counseling, consolidation, debt
reduction, debt negotiation, consumer counseling and
more. The fact is that they have become the latest
get rich quick scheme in America.
Debt Consolidation companies are, for the most
part, collection agencies for the credit card
companies. When a debtor starts to miss payments,
the credit card companies know that if they do not
step in and do something, the debtor will file
bankruptcy and completely wipe off the debt.
For example, say that you owe $20,000 on your
credit cards and are making monthly payments of
$1200. The credit card companies know that if you
filed bankruptcy, they will get nothing, but if they
can persuade you to keep on paying them, in the long
run, they will get all their money and more. They do
this by hiring the debt consolidation companies to
spread the word around that they will lower your
interest rate and reduce your payments.
If you buy into that hocus-pocus, you will still owe
$20,000 and yes, they will lower your payments, at
least temporarily, but they are under no legal
obligation to honor it. You see, the credit card
companies do not send you a new contract to sign.
They merely pass the word to you through the debt
consolidator and they are careful not to bind themselves
legally to the deal.
What exactly is the deal? You do not know. All
you know is that the debt consolidator told you that
your new payment would be some new amount. On
their books, many of the
credit card companies still have you in breach of
the original agreement and just about all of
them continue to report derogatory information to
the credit bureaus.
|
Inside Info |
Did you know...
That you can select which debts to wipe out and
which debts to keep. If you have a car or house
and want to keep them, we provide you with the
reaffirmation papers that you will need. Find
out more after registering. |
In fact, their report to the credit bureaus is in
many respects interpreted as your filing a Chapter
13 bankruptcy and it will hurt your ability to
finance a car or house worse than if you had simply
filed a Chapter 7 bankruptcy. That is why you will
often hear it said that ...
Chapter 7 Bankruptcy is Better
Than Debt Consolidation
Not only is Chapter 7 bankruptcy better for your
credit than debt consolidation, it is better than
Chapter 13 bankruptcy where you pay back the debt
over time. Here is the comparison.
Chapter 7 Bankruptcy
- If you already have bad credit, bankruptcy
tells future lenders that you are debt free and
can afford to pay back a new loan. Often times,
right after filing bankruptcy, car finance
companies flood you with auto finance offers.
- If you have good credit before filing, the
damage to your credit is done just once. You can
start reestablishing credit immediately, instead
of waiting several years for your consolidation
payments to end.
- Throughout the United States, you can finance
the purchase of a house just 2 short years after
filing bankruptcy. In fact, it is written in the
FHA, Fannie Mae and other home loan underwriting
guidelines. Don't take our word for it. Pick up
the phone and call any mortgage broker and ask
them. Under a consolidation program, you would
have to wait up to 5, 7 or even 10 years.
- With bankruptcy, once you turn in the
bankruptcy documents to the court clerk, your
obligation to make payments ends right there and
then! This means that if you use our bankruptcy
platform today, you can file today and be free from
making any more payment today.
- Bankruptcy works on virtually all debts, so
when it is done it is done. You decide which debts you want to pay after bankruptcy and which
ones you want to wipe out, for example, your
mortgage or car loan.
- If you are thinking of purchasing a new car or
house, would you be better able to save up the
down payment when you have zero debts or when you
still owe $20,000 to $40,000 and are paying under
a consolidation program?
Debt Consolidation
- Debt Consolidation is treated like Chapter 13
bankruptcy and lenders shy away from you because
they know the real scoop, which is that you still
owe all that money and cannot take on new debt.
- With debt consolidation, if you have good
credit, your credit goes from good to very bad.
- If you have bad credit, your credit gets even
worse. In fact, very very bad.
- FHA, Fannie Mae and all the home loan programs
insist that you wait two years after you have paid
off all your debts under the consolidation
program.
- Think about it. If you start a debt
consolidation program, no one will loan you a dime
for a house or car until years after you have
paid off all your debts and that could be 5, 7, 10
years or more.
- With debt consolidation, the pain does not go
away. You still go to sleep with knots in your
stomach and you wake up wishing you were still
sleeping. You still owe the same amount to the
credit card companies and on all of your other
debts.
- Debt consolidation cannot help you with past
judgment, deficiencies, lawsuits or with any other
type of debt. Debt
counseling only works for credit debt.
Bankruptcy works on just about everything.
- If your car was repossessed or your house was
foreclosed and you owe the bank or if your owe
your landlord back rent, debt consolidation will
not help you. Bankruptcy will wipe it off
instantly.
- If you owe lawyer fees or were in an accident
and owe the insurance company, debt consolidation
will not help. Bankruptcy will wipe that out
too.
- If you owe on a personal loan, or if there is
a judgment against you, debt counseling will not
help you. The
debt consolidation companies will not even look at
those debts. They just want to concentrate on
credit card debts because they are essentially
collection agencies for the major credit card
companies.
|
Inside Info |
Did you know...
That even though bankruptcy can stay on your
credit for years, the HUD, Fannie Mae and
Freddie Mac home loan programs will allow you to
qualify for a low interest mortgage after
only two years? Find
out how after registering. |
Ask Them to
Guarantee Your
Credit
And They Will Laugh at You.
Anyone who has watched action movies knows that
when the bad guy is holding a hostage and asks the
good guy to drop his gun, the bad guy has no
intention of letting them go. He can promise to let
the hostage go or even to turn himself in, but we
all know what happens. The good guy gets shot every
single time.
If laying down the gun sounds stupid to you, that
is exactly what you do when you agree to give up
your right to file bankruptcy in exchange for the
mere hope that the debt consolidation guys and the
credit card companies will reward you with good
credit.
They will try to scare you with the usual,
"bankruptcy on your record for 10 years"
routine. They will imply that your credit will get
better but they will not put it in writing. They
will tell you that your debts have been re-indexed,
whatever that means, but they will not enter a new
contract or bind themselves legally. Like the
parents of a toddler, they ask for your blind faith.
Seriously. Call them up and ask them to give you
a written guarantee that your credit will not be
trashed after you enter the debt consolidation
program and see what they say.
Do Not Press
This Button
|
 |
| Do
not press this button
if you have made up your mind to try
debt consolidation, because, what you will find
will disturb you. Everyone else can press this
button for an eye opener. |
Pressing this button will take you out of this
site. We do not endorse, recommend or disapprove
any product, web site or company. In particular,
we do not imply that the companies cited in the
external site have done anything wrong. We are
merely passing a pointer to material users might
find useful. |
Do you Know Where Your
Consolidation
Payments are Going?
Unless you are looking for it, you will not know
that there are lots of reports in the news and in
government publications detailing the abuses that debtors
face at the hands of many debt consolidation
companies. It reads like a horror story.
Except for a few states, the credit counseling
industry is unregulated and rife with consumer
exploitation. As a result, the industry is full of
unethical practices.
Many debt counseling companies...
- Do not send your payment in to the credit
card companies and when they do, it is very late.
- They deposit your payment in interest bearing
accounts and pocket the interest while your
creditors wait and wait.
- They often keep the first $1000 to $3000 of
your payments for themselves before they start to
pay the credit card companies. Meanwhile, the
credit card companies are trashing your credit
because they got nothing.
- They charge all sorts of hidden fees in
addition to their commission. They may say it is
free, but watch out. Free could mean as much as
$3,000 in hidden charges.
- Do not let their non-profit status fool you.
Many of them run other commercial companies on the
side that enable them to profit very handsomely
from your misery. What good is their non-profit
status if they take you to the cleaners?
To make matters worse, many of them keep
changing their name as they ruin one name after
the other with their greed. So, the bottom-line is
that you never know which one of them is on the up
and up.
If you read that 1st-XYZ Debt Counseling
Company is in trouble with the authorities, and
decide to use ABCEFG Debt Consolidation Company
which has a clean name, they could quite possibly
be the same people. The only thing that has
changed is their name. In fact, the company that
comes up when you press the "Do Not Press This
Button" link have operated under several
different names and are still one of the big
players in the industry.
|
Inside Info |
Did you know...
That with bankruptcy, you never have to repay debts
that you want wiped out? Find
out more after registering. |
Even Many of The
Biggest Names
in The Counseling Business Cannot Be Trusted
Do not think for a moment that we are just
talking about the little guys. On the contrary, the
smallest debt counseling outfits in your
neighborhood are probably the best. Some of the
biggest debt counseling companies in America are
among the most to be watched.
The biggest credit counseling company in
the country which runs ads on TV day and
night recently had to refund up to
$2 million and
pay the government thousands in fines for abusing
consumer trust. This has been covered in the major
press but with the many names they possibly go under and the
numerous affiliates that recruit customers for them
under other names, you will never know for sure that it
is them.
We cannot name them directly, but we can give
you a link to government and outside sources who
will identify them.
District Of Columbia -
http://occ.dc.gov/services/consumer_protection/lawsuits/consumers.shtm
USA Today -
http://www.usatoday.com/money/perfi/credit/2002-05-28-debt-counseling-services.htm
Report on One of The Biggest Counseling
Companies
Report on Another Big Consolidation Company
One of The Biggest Debt Counseling -
Government action to protect the public
Another One of The Big Outfits (You have seen
their ad) -
Special External Report
If you are considering debt negotiation or
credit counseling, you are taking a huge risk. With
bankruptcy, all you risk is the one time fee that
your lawyer or bankruptcy preparer will charge you,
but with credit counseling, you are turning over all
your finances for the next 2 to 5 years to somebody
you do not know or trust. So much has been written
in the press regarding predators in the credit
counseling industry, but chances are that until now,
you had no idea.
Well, let us fix that right now. Here are several
external links to more information on the matter.
These links and the text around them are taken from
the articles unedited.
Debt consolidators can add to the problem
Some services can lead consumers into even
deeper financial woes, experts warn
By Karen Alexander
NEW YORK TIMES
How To Tell If Credit Counseling Service Is
Legit
By Robert K. Heady
Bank Rate Monitor
Does Credit Counseling Hurt Your Credit?
By Robert K. Heady
Bank Rate Monitor
Debt Consolidation: Beware Big Fees and Big
Promises
Whats a nonprofit credit-counseling agency? And
can you trust them?
By Jennifer Barrett
NEWSWEEK WEB EXCLUSIVE
Massachusetts study shows fraud
among credit counseling firms
More than 75 percent of the credit counseling
services operating in Massachusetts are doing so
illegally, according to a report from a Senate
committee scheduled to be released today.
By Office of Sen. Cheryl Jacques (D-Needham),
Chairwoman of the Senate Post Audit Committee.
Man charged with stealing thousands in credit
counseling scam
Suspect instructed people in how to cancel
credit cards, allegedly used their account
information to steal up to $150,000
Reported by: Doug Aronson
|
Inside Info |
Did you know...
That there is almost never a court appearance in
Chapter 7 bankruptcy? There is a meeting, but not
in front of a judge. Find
out more after registering. |
What About Debt
Negotiation?
Is it Any Different?
With the competition for credit counseling
customers heating up, a number of credit counselors
have come up with a new ploy to set themselves apart
from the pack. They do this by calling themselves,
Debt Negotiators, not credit
counselors.
They point out that while credit counselors work
for the credit card companies and get paid a
commission, they work for you instead, by actually
negotiating down the actual debt you owe, not just
the interest rate. In fact, these guys are some of
the strongest critics of the credit counseling
industry.
The bottom line is that debt negotiation is
mostly in theory, not the reality they claim. As we
said earlier, credit card companies have set up the
whole consolidation business on a formula, pure and
simple. The credit card companies stick to their
formula strictly because it works. If they say that
they will reduce the interest rate from 20% to %9,
that is all they will do and no amount of
negotiating will change that.
The same applies to just about all of the other
types of creditors such as car loans and mortgages.
These guys do not even lower the interest rate. If
you cannot pay them, they repossess your car or
foreclose on your house. Here is what one of
them had to say about this..
"One big myth,
says Gormley, is how most credit counseling
agencies work with creditors. "Consumers
think we negotiate everything. Not true.
Virtually all the major creditors have
pre-existing terms and conditions that apply to
all of the agency's clients. Typically, between
1 and 4 percent of total amount owed becomes the
monthly payment. So if a consumer owes $10,000
in bills, his monthly payment is between $100
and $400."
However, the terms can vary by creditor.
Reportedly, Bank of America sometimes will
reduce a credit card interest rate to zero while
Sears won't budge on its original rate. Citibank
and Chase Manhattan also were said to be among
the most lenient to deal with. And MBNA, the
credit card giant, now wants to see consumer's
entire financial profile before it arbitrarily
decides on a payback arrangement."
By John C. Gormley III
Consumer Credit Management Services in Delray
Beach, FL
http://www.thebullandbear.com/articles/0601-heady3.html
|
Inside Info |
Did
you know... That
bankruptcy can wipe out most taxes, including
state and federal. Find out how
after registering. |
Credit Counseling Services
and National Directory
Debt Counseling goes my may names and often, these names are intended mostly
to sell you on the concept. Here are some of them. Consumer credit counseling,
bill consolidation, debt consolidation loan (this being a twist because they
turn around and say that it not exactly a loan), advice on debt consolidation,
debt relief law, online bill consolidation, credit card bill consolidation (this
being the fact that they only work on credit card debts), bill consolidation
services, central credit counseling, budget consumer credit counseling,
Christian credit counseling (this being to evoke trust in the reader), us debt
management, care credit counseling (this being to show that they care).
Some specialize on college students and therefore go by such names as college
credit counseling, community credit counseling, assured credit counseling. It is
all designed to lull readers into thinking that there hope in there supposed
better way credit counseling.
Biggest Credit Counseling
Services Not the Answer
Some operate large national credit counseling centers of America while trying
to maintain the appearance of personal debt and credit counseling, but it does
not take a genius to see that even when they use such names as genius credit
counseling, and when they offer free consumer credit counseling or even free
debt consolidation, their non-profit credit counseling status does not protect
the consumer. You only need to read the literature from such online credit
counseling companies as Cambridge credit counseling or Profina debt solutions to
realize that credit card counseling just is not realistic.
What then is does one do when bankruptcy is not a welcome thought? To resolve
credit card debt or to erase credit card debt quickly, one would have to
structure a do it your self program where you retain control. With all the free
debt consolidation calculators available online, one can perform a debt analysis
to reduce or terminate credit card debt without the use of a debt consolidating
service. Don't let their sign, "non-profit debt consolidation service fool you,
since non-profit debt counseling means nothing if they cannot resolve your
debts.
Bankruptcy Eliminates Just About Every Type of Debt
Including Student Loans.
Debt negotiation or debt settlement as some call it could reduce so bills,
but the best debt consolidation program will not really bring debt relief as you
expect. American debt settlement can with the right debt settlement company
using debt settlement letters can help to to some degree to solve credit card
debt problems, but the best bet is bankruptcy. Bankruptcy eliminates credit card
debt repayment problems for just about any consumer for not only unsecured debt
but secured debts too.
What makes chapter 7 bankruptcy filing better that the most advanced debt
management solution is that not debt consolidator service or company can help
with intransigent creditors. True, there are many companies like Profina debt
solutions and Greenpath debt solutions that have been around for many years.
These companies at their very best can mostly get you an interest free debt
consolidation solution. They all start out offering free loan debt consolidation
but to truly help in paying off debt, you either should look at a Chapter 13 or
a Chapter 7 bankruptcy. In the years 2001, 2002 and 2003, bankruptcy legislation
has come under the scrutiny of the law makers. These guys are not interested in
a debt free America, or in helping to eliminate debt, they want to help their
special interest, the credit card companies.
Looking for an easy debt reduction tool? You have found it on this web site.
We will not offer you a money management or a debt reduction technique like
Cambridge or Profina Debt Management will. Bad debt management is not our
specialty, total debt elimination is. We will use bankruptcy to help you do what
no debt management program or debt management plan can do. Settling credit card
debt for people with excessive credit card debt.
With all the offer of new credit cards, it is no wonder that the average
credit card debt is well over $20,000. All this unpaid credit card debt cannot
be reduced quickly with out the drastic and effective measure of bankruptcy.
What about the effect of a debt consolidation loan on the mortgage loan you
already have? It is not wise to pile on more debt when you cannot pay the ones
you have.
Some people worry about such issues as their tax refund and the effect of
bankruptcy on federal income tax. Bankruptcy will eliminate IRS debts but debt
management will not work. This subject is treated in-depth else where.
There are a hand full of debt management companies that operates nationwide.
If you need to use a consumer credit counseling service, here are some of the
better ones. Ohio Debt Consolidation, Profina Debt Solutions, Michigan debt
consolidation Company, Pennsylvania Debt Consolidation, and Colorado Debt
Consolidation Associates, Trinity Debt management, American Debt management,
Genius Debt management, American Association of debt management, Liberty Debt
management.
These companies operate on a national scale and can be found in the following
states and online.:
Alaska
Alabama
Arkansas
Arizona
California
Colorado
Connecticut
Delaware
Dist. of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas |
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina |
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming |
Directory of Debt Counseling
Companies
For-Profit Counseling Organizations
The following debt counseling companies are for-profit and are typically
members of the NACC
Ohio Debt Consolidation, Pennsylvania Debt Consolidation, Michigan Debt
Consolidation, Maryland Debt Consolidation, Colorado Debt Consolidation, Indiana
Debt Consolidation, Louisiana Debt Consolidation, Maine Debt Consolidation,
Massachusetts Debt Consolidation, New York Debt Consolidation, Missouri Debt
Consolidation Illinois Debt Consolidation, Arizona Debt Consolidation, Wisconsin
Debt Consolidation, Texas Debt Consolidation, Connecticut Debt Consolidation,
Georgia Debt Consolidation, Washington Debt Consolidation, Delaware Debt
Consolidation, Kentucky Debt Consolidation, New Jersey, Debt Consolidation,
Oklahoma Debt Consolidation, West Virginia Debt Consolidation, Montana Debt
Consolidation, New Mexico Debt Consolidation, North Dakota Debt Consolidation,
Debt Consolidation Alaska, Vermont Debt Consolidation, Wyoming Debt
Consolidation, Nevada Debt Consolidation, Alabama Debt Consolidation, Iowa Debt
Consolidation, Pennsylvania Debt Consolidation loan, Debt management Florida,
Debt management Iowa, Debt Consolidation and management, California Debt
management, Debt management services, Debt management Mississippi, Debt
management Minnesota, Debt management Illinois, Debt management new jersey,
Connecticut Debt management, Debt management Oregon, Debt management Kansas,
Debt management Virginia, Debt management Massachusetts, Debt management Nevada,
Debt management north Carolina, Debt management Missouri, Debt management
Louisiana Debt management Rhode island, Debt management Nebraska.
Non-Profit Counseling Organizations
This list comprise the major non-profit debt counseling companies. They are
usually members if NFCC
Consumer Credit Counseling Illinois, Consumer Credit Counseling Iowa, Alaska
Consumer Credit Counseling, Consumer Counseling Credit foundation, agency
Consumer Counseling Credit national, Consumer Credit Counseling Minnesota,
Consumer Credit Counseling service Oregon, Consumer Counseling Credit Florida
service south, Consumer Credit Counseling service of new York, Consumer
Counseling Credit England new southern, Consumer Credit Counseling of pa,
Consumer Credit Counseling service Colorado, Alabama Consumer Credit Counseling,
Consumer Credit Counseling Kansas, Consumer Credit Counseling san Antonio,
Consumer Credit Counseling Wisconsin, California Consumer Counseling Credit
services, central Consumer Counseling Credit Florida service, budget Consumer
Counseling Credit, Consumer Credit Counseling Mississippi, Consumer Credit
Counseling Tampa, Consumer Credit Counseling service California, Consumer Credit
Counseling Delaware, Consumer Credit Counseling service Georgia, Columbus
Consumer Counseling Credit Ohio, City Consumer Counseling Credit Sioux, central
Consumer Counseling Credit Indiana service, Consumer Credit Counseling new
Mexico