I have continuously written articles and spoken out in interviews about the practice of “selling” debt settlement. Selling someone into debt settlement is the number one reason the industry has been tarred and feathered in the media. The over hyped selling by profiteers and sales groups has resulted in enforcement actions by many states, and […]
Tax Deductions – A Better Form of Stimulus for the Middle Class
What if tax payers could claim interest payments on debts (other than mortgages) as a deduction? Would it assist in an economic recovery? I would suggest YES. The fundamental reasoning would be two-fold. It would allow consumers with debt to be able to more aggressively pay down that debt with the tax savings, which could […]
How Do I Sue A Debt Collector for Collection Abuse?
With debt collection abuse on the rise, debt collectors have been increasingly whiny lately. For the past year, I have seen weekly reports that provide a breakdown of how many consumers have filed suit against debt collectors for violations of the Fair Debt Collection Practices Act (FDCPA). I have also seen an increase of people […]
Debt Settlement Estimates of Savings, Fees, and Time to Complete
Debt Settlement is a very real option for consumers who are trying to avoid bankruptcy. Unfortunately, the decision to try it is too often made from an emotional perspective. This has, is, and will forever be; the wrong perspective to use in your decision making regarding this particular debt solution. Many people are understandably unsure, […]
Debt Settlement In Illinois – New Laws – Fair Fees
Last Thursday saw the anticipated signing of new laws governing debt settlement operators in Illinois. Fee Caps of debt settlement and professional credit card debt negotiations. This came on the heels of federal rules announced the prior week that are designed to curb consumer abuse at a national level. Illinois went further than the FTC […]
Debt Settlement Industry On The Verge
Due to business practices that have been deemed unfair and abusive used by many companies offering debt relief services (primarily debt settlement), new federal laws will come in to play that take aim at what are recognized as some of the worst practices. Those companies and industry associations that are most affected by the rules […]
Debt Settlement Company – You Can’t Compete With Liars!
A friend and I were having a conversation several years ago about his and my companies approach to working with consumers who are struggling financially. The context of the discussion was centered on how we both approach consulting with potential customers. His company, like CRN, is direct and honest in their assessment of consumer’s options, […]
Considering Bankruptcy – Is Debt Settlement Right For Me?
A well balanced article by Sandra Block in this morning’s USA Today – “Thinking of debt settlement? New FTC rule can help”, contained some great tips and information for consumers looking into debt settlement as a way to avoid bankruptcy. For the past many years (and through 10/27/10), Debt Settlement service providers have, in large […]
You can Survive Debt!
In the debt relief industry, finding a reliable and affordable source of comprehensive information about all of your options that is unbiased and not motivated by selling you something is becoming increasingly difficult to find. This post is about “talking someone else’s book”! In its seventh printing no less! The #1 resource I could possibly […]
Settling Credit Card Debt in Michigan
What happens to my credit after settling my debt?