Debt Management| Bad Credit Loans, Personal Loans, Getting a Loan

Most of us have been there at one time or another – getting a call from a collection agency about a past due debt. It usually happens with people who have just graduated from college or newlyweds, where in both cases they barely have two nickels to rub together, and find themselves with debt that is starting to get out of control. With everything else going on at that point in your life, for some reason paying financial obligations on time is placed lower on the priority list.

Credit collection agents have heard every story in the book. They are usually surly and don’t want to hear about the operation your dog recently had. They will usually ask for the reason that you fell behind, but this depends on what LEVEL of collections your account has gone into. Read more… »

Debt is one of the biggest worries for most families and small businesses Qualified professionals may have found solutions to help set you free from debts forever through debt elimination.

Not debt consolidation, not debt management–debt elimination!

It’s real and thousands of people just like you have taken back their life through cancelling their debt. The process is legal and ethical, it does not draw on US Treasury but on the bond illegally and immorally established to use the wealth of each American born and consigned as collateral on the national debt. Read more… »

No one likes to deal with debt. Borrowers don’t like to pay it and creditors and collectors don’t like to collect it. But debt is what makes our society work, as few people are able to pay cash. It’s not a problem most of the time, as the vast majority of borrowers pay on time. Sometimes, those debts go unpaid, and when that happens, creditors notify the credit bureaus and the unpaid debts are noted on the borrower’s credit report. The notation will stay there until the debts are repaid, or until seven years go by, whichever comes first. After seven years, the debts, paid or not, disappear from the borrower’s credit report. Read more… »

A lot of companies and businesses often end up with bad debt. These companies regard the bad debt as a loss for all intents and purposes; to them it’s just a cost of doing business. From the accounting department’s point of view, this debt is in the accounts receivable category and these accounts receivable will not be paid. Sooner or later, these bad debts will be written off by the company and then put into the expense category, which reduces the income of the company on the accounting statements.

Most companies and its ownership/management will anticipate this from time to time. It’s unfortunate but also a part of doing business. This debt could be from loans paid out that will not be repaid or from accounts that will not be paid for various reasons. In a competitive world, bad debt is often just part of doing business. There are many business experts who will make their reputation, as well as their fortunes, on taking some risks to make a profit. These risks are made based on information available at that particular time. Very few business people want to end up with accounts receivables or loans that are not going to be paid off, however they will recognize it’s bound happen from time to time. Read more… »

Debt collectors are liars, cheaters, etc… They take advantage of every loophole possible and even break the law. They have been featured on almost every news program from CNN to 60 Minutes. There are laws in place to contain their harassment and collection efforts and to make this process more civil, but most figure the risk of getting caught is minimal and that the rewards of endlessly harassing and fleecing victims is far greater. We now have the power to take back our lives, stop them in their tracks and sue them for more than they are trying to collect.

First, lets start with what is actually owed and how most collection agencies work. Usually a unpaid debt is either sold or turned over to a collection agency. 95% or more of these debts are credit cards, store cards, gas cards, etc… These debts are then tiered according to age of debt, amount, credit, job history, etc… Generally most debts are bought for pennies on the dollar. Recent debt may go for $.15 to $.25 on the dollar whereas old debt that has had numerous collection attempts goes for $.05 or less and debt that is beyond the statues of limitations for the state the debtor resides in goes for less than $.01. So, for instance if you owed $10000.00 on a credit card, the debt collection agency paid at most $2500.00, but probably paid less than $1500 for it. Now, what’s interesting is that they will call and write you stating that you now owe $14000.00 or so stating that it has accrued interest and various questionable fees. This is all profit if you were dumb enough to pay that. A fair settlement would be $1700.00 or less. So, the point here is that you don’t ever owe what they are trying to collect from you - it is always far, far less. Read more… »