Welcome to Debt Guide
Debt Consolidation Agency Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Protect yourself from Debt relief Scams
from:A lot of Americans are now swimming in debt. Making monthly payments, settling late fees, talking to debt collectors while having the fear of repossession or bankruptcy in your head – this is a lot to take. With how finances affect a person’s life, some people are simply desperate to climb out of debt. Sometimes, this desperation drives people into bad choices and makes them fall victim to scams. This happens a lot with debt relief.
Debt relief offers flood your mailboxes and they’re all over the internet. These offers promise to lower your monthly payments, reduce interests and render you debt-free. Does it sound too good to be true? That’s because it is. Many times, con artists and scammers entice people with the promise of debt relief and financial freedom. And because some people truly want to get out of debt, they fall easily.
First of all, debt relief cannot be a magical cure. In reality, debt relief can happen in two ways. It can happen when your creditor forgives your debt, either by significantly chopping off a huge amount from your debt or by completely writing off the entire debt. Another way that debt relief can happen is when you creditor agrees to stop charging interest on your debt. This way, your debt would not continue to grow over time. Sometimes, creditor can opt to just reduce interest rates.
When a company offers to give you debt relief, they are offering to contact your creditors and negotiate with them. This means that you no longer have to haggle with your creditor. However, the problem is that these companies immediately give you an estimate. Some immediately say that they can lower your fees by about half. They will ask you to give that reduced payment to them. This is all happening even though the company hasn’t contacted your creditor. When the creditor refuses to negotiate for a lower payment, you’re in trouble. You’ve already sent the debt relief companies some money and yet your creditor still wants you to pay. When this happens, you end up using more money than you would have if you just paid the creditor yourself.
Another problem is that debt relief companies don’t advertise their processing fees. Normally, they will start contacting you and along the way, they’ll suddenly inform you that they have to charge you a couple hundred dollars in order to get the process going.
The main thing to remember is that you can’t fall for a sales pitch. You can’t trust companies simply because they promised debt relief. Do your homework. Find out more about the debt relief company. Talk to finance experts and ask about your options for eliminating or managing your debt. If you jump into a debt relief program without adequate research, you may end up in a far worse situation. If you feel that you were cheated or scammed by a debt relief company, report their behavior to the Federal Trade Commission.
Debt Consolidation Agency Specific links
Debt Consolidation Agency News
Japan downgraded by Fitch - Money Marketing
 RTT News | Japan downgraded by Fitch Money Marketing The agency warns Japan's fiscal management strategy forecasts declines in the government debt/GDP ratio from full-year 2021, which it regards as a slow pace of consolidation in view of the scale of the debt. The agency believes the debt consolidation ... Fitch cuts Japan as politics hinders debt plan Fitch Cuts Japan's Credit Rating Fitch downgrades Japan |
Brenda Shanahan: Four types of debt problems - Montreal Gazette
Brenda Shanahan: Four types of debt problems Montreal Gazette Q: I was reading your article about debt solutions and it was very interesting and helpful. I am wondering if you know any good accredited debt consolidation company that was reliable and could reduce my debt and stop interest? |
TEXT-Fitch: Non-resident investors pulling out of Spain, Italy - Reuters
 Investment Europe | TEXT-Fitch: Non-resident investors pulling out of Spain, Italy Reuters (The following statement was released by the rating agency) May 23 - The proportion of Spanish and Italian public debt held by non-resident investors continued to fall in the first quarter of 2012 as banks funded with cheap ECB money replaced ... Non-resident investors leaving Spain and Italy, Fitch says |
P323.4 billion Domestic Debt Consolidation Program Deal Managed by First Metro ... - MarketWatch (press release)
P323.4 billion Domestic Debt Consolidation Program Deal Managed by First Metro ... MarketWatch (press release) Manila, May 15, 2012 (ACN Newswire via COMTEX) -- The Philippine government's P323.4 billion Domestic Debt Consolidation Program won The Banker Magazine's Deal of the Year 2012 for SSA (Sovereign, Supras and Agencies) Bonds category in Asia Pacific. |
Fitch Fires Another Round - FXstreet.com
Fitch Fires Another Round FXstreet.com The move came in a few hours after the OECD urged Japan to prioritize the implementation of a fiscal consolidation plan, as debt-to-GDP ratio exceeds 200 percent, and budget deficits are forecast at 10 percent of GDP for the current year. |