Free Financial Planning Advice » Debt

The Importance Of A Debt Management Consultant

admin — Fri, 03 Sep 2010 10:35:34 +0000

Excessive debt is not only a financial matter. While of course the financial pressure and stressors are real, excessive debt is often a symptom of underlying issues. The inability to manage one’s finances responsibly, or a tendency to create repeated situations of large debt need real attention by the individual in debt. The action, getting a debt management consultant, has two parts. Both are tremendously important. They can (and perhaps, should) take place simultaneously.

One thing is to manage the debt. Debt management services like debt settlement will help to consolidate and/or minimize the debt owed. The experts (often attorneys) involved will mediate with the creditors and arrange certain payment programs that the debtor can handle reasonably. Sometimes such a dept management program can cut debts to 40% or 60%. Yes, you can say “wow.”

The second aspect is to take care of the financial situation in the long run. If you’ve been in excessive debt once, you know you don’t want to do it again. Nor do you want to pay for the attorneys again. What you really need is to get debt management credit counseling. With a little research online, you can undertake a full debt management plan that not only helps you settle the debts, but gives you a personal debt management consultant. This expert is usually not a lawyer. Instead, it is an individual who has full knowledge of the financial, psychological, and emotional situation that a debtor is in. Debt management consultants are qualified to guide and advise you through financial decisions as well as build plans for your financial future. Understanding how to manage your finances for the rest of your life is key to staying out of debt. In fact, not only avoiding debt, but building real life savings.

One such service to look into is called Freedom Debt Management. It is a non profit organization community service that provides a number of services to the public. The staff is dedicated to educating and counseling consumers through budgeting, credit, debt, and homeownership. The organization has a number of different debt management programs designed to help the individual through various steps of financial stability. Perhaps we can say, financial success. For example, you can take care of credit consolidation and obtain free budget counseling from the same organization, from experts in the respective fields. They even offer unemployment services. Definitely worth considering in order to solve your debt problems, long term.

Debt Settlement USA: Things You Need To Know

Chava — Thu, 24 Dec 2009 09:58:49 +0000

Settling excessive debt is not easy. Doing it yourself may take significant time and energy, and may not be successful. Hiring a debt relief group to do the job for you is an often preferred choice. One such company, Debt Settlement USA, has been in the business for about ten years. DSUSA has a fairly clear and easy to maneuver website that explains much of their process in settling debt. They handle debts of $12,000 or more, with at least $1,000 of debt due to each of your creditors. Most credit card, medical, rent, and unsecured loan debts are dealt with.

DSUSA presents itself as a advising and negotiating company. Upon your qualification and contract, they are to contact each of your creditors and settle debt for anywhere between 40% and 60% of your debt. Settlements are to occur between 18 to 36 months, and result in a lower payment and less amount of time that you’ll actually be in debt. It seems that they settle you for a single lump payment that wipes clear all the debt.

The problem, however, arises when you read Debt Settlement USA reviews. Nearly all the reviews available online are negative. Some mildly so, others aggressively so. It seems that many complaints have been filed against the company, to the point that the Better Business Bureau (BBB) has given Debt Settlement USA Inc an F rating on their scale of A+ to F. The company is not accredited by the BBB.

Dect Settlement USA complaints range from unprofessional employees, to debts not being fully settled, to unreturned phone calls, to outright refusal to return owed money or keeping payments for work that was never done. According to a number of customers, the company takes monthly payments from your account, some to be set aside and “saved” for the final negotiated payment to creditor, and some as their own company fees or payment. After a number of months, debts are still unsettled and DSUSA seems to back out on their word. Clients rage that they were able to do a better job at settling on their own, without DSUSA as mediator.

To counter these complaints, one Debt Settlement USA review points out that this company has been around for a number of years and has over 20,000 clients. This means service is not personalized, and complaints are filed; that is the norm and the expectation for such a large company. Especially a company in such a touchy business.

All in all, be a cautious consumer. Before making use of DSUSA’s services, do further research to confirm their validity and trustworthiness.

Can A Debt Group Help You?

Chava — Thu, 17 Dec 2009 18:18:44 +0000

Addressing excessive debt is an anxiety filled process for anyone. Determining how to even begin might feel beyond your scope of knowledge and capability. The first thing to do is take a deep breath. Then, find a debt group.

A debt solution group, though it may sound like some variation on AA or NA groups, is actually a company or firm of experts who can help you determine how to settle your debt problems. Staffed by credit counselors, debt advisors, and attorneys of the field, such a group can provide tremendous assistance in a dilemma that would otherwise bury most people in distress.

You have a number of options in dealing with your debt. Your debt support group should present all of the following, and perhaps more.
1. You can (and it may be advisable in unique circumstances) do nothing.
2. You can file for bankruptcy (chapter 7 or 13, depending on your qualifications).
3. You can opt for debt settlement.
4. You can take advantage of the debt group management team, which is more like credit counseling than anything else.

Top companies in this field, like the American Debt Settlement Group and Trinity Debt Group set an example of what you should look for. They have a range of employees, including experienced attorneys. Legal representation, if needed, is available through their programs. Some firms will focus more on validation or auditing, some on settling. Read about each firm to see what, precisely, they offer.

You will also find that some groups are paid, while others are free. Freedom Debt Management is one free debt group which offers excellent guidence and services to help you overcome your debt. But depending on your individual situation, you may be best off with a paid group that offers additional options that you can’t find with a free group. The steps you need to take to overcome debt vary greatly from one individual’s financial situation to another, so there cannot be one blanket solution that is right for everyone.

If you are looking for total eradication of your debts, you may consider a debt elimination group, like the Integrity Debt Relief Group. Some people swear that debt elimination is an impossible scam. Others attest that it is actually possible. It may take a personal consultation to determine if this is the path for you.

It’s up to you to decide which debt group will help you most. Do a significant amount of research about it. As you come across attractive companies, read their mission statements, look at the degrees their staff holds (as you may very likely need an attorney), and read a range of reviews. The debt group review that sounds overly positive or negative will be misleading on its own. Be sure to balance it with other information.

Freedom Debt Management For Free Debt Solutions

Chava — Thu, 17 Dec 2009 18:13:38 +0000

Debt problems can be frightening. Especially when you are told to consider hiring attorneys on top of already existing expenses, it might seem like there is no hope for financial freedom. The Freedom Debt Management group, however, might be an option for you. A non-profit organization rated A+ by the Better Business Bureau (BBB), they offer completely free financial counseling and debt consolidation. You can work on your excessive debt without paying attorney fees.

Basically, the community service organization is a debt management group. They are not staffed by full fledged attorneys, but rather professionally trained counselors. They are qualified to provide free, personalized, and confidential debt solutions. Your financial problems can gradually slip away, entirely.

Any one of their debt management consultants, or credit counselors, will be able to assess your financial situation. They will present you with your options and offer you advice. It is important that you prepare for this free consultation. Read your credit report. Obtain information about your debts from your creditors. Know what you owe, your interest rates, and whether you are delinquent. Pull together your income statements as well, so you know how much the debt is affecting you. Always be honest with your credit counselor. Holding back information will not help you to solve the debt problems.

The Debt Management Programme at Freedom Debt Management allows you do consolidate your debts into payments of five years or less. They monthly payment will fit your budget. Over time, you can thus eliminate your debt and successfully improve your credit score, simultaneously. In discussing this option, make sure that you fully understand all terms and conditions, your obligations, and how your credit report will look over the interim.

Once this program is put into effect, it is imperative that you follow your counselors instructions precisely. They are the experts and are advising you on how to solve your financial problems, and the details are important. They may also offer debt management tips to avoid future financial dangers, as well. These tips are no less significant.

Before you sign up for their services, be comfortable with your decision. Read Freedom Debt Management reviews. Look over their website. Understand what they are offering and how they have helped other people in similar situations. You can even ask them yourself for customer recommendations.

For people who don’t need or want to deal with debt settlement or bankruptcy attorneys, Freedom Debt Management may be the prime option. They are staffed with real professionals, experts in debt management. Their services are free. Using their budget counseling as followup can help you stay out of debt in the future, as well. Seriously consider this free, personalized, confidential option! It’s hard to lose here.