Having worked in the debt and credit relief industry for as long as I have has helped me to form relationships with other like minded professionals. There are some truly awesome people out there making the world a better place for consumers. Some are dedicated to publishing educational tools and helpful debt guides. Others are […]
debt settlement
How Much Can I Expect To Save Settling Debt With My Bank?
If you have read through the previous 7 articles in my settling debt series (linked below), you should now be prepared to settle debt on your own, but with what expectations? How much should you expect to save, percentage-wise, on your settlement, and how will your bank respond? These are great questions, and the reason […]
How to Negotiate Credit Card Debt Successfully Yourself
If you’ve been following the early tips I suggest for how to prepare to negotiate and settle directly with your credit card bank, you are already aware that most of the heavy lifting of the settlement process will be when you are between 150 and 180 days late on your credit card. If you have […]
How to Talk to a Debt or Bill Collector
In the previous article, I left off with the fact that you will get a ton of collection calls from your credit card bank once you miss a payment. Credit card bill collector calls are just part of the process. You know collection calls are going to occur, so you may as well roll with […]
Debt Relief and Your Credit Score
If you are looking into debt relief programs and landed on this page, chances are you’re reading because you want to know the impact to your credit report and credit score if you use credit counseling, debt settlement, or bankruptcy as a way to resolve debt. You may have already realized that needing one of […]
Why Settling Credit Card Debt is Like Running a Race
I know that last article about the types of accounts to consider settling (if you have the luxury of choosing) was a lot to digest , but it’s a vital step in the settlement process. Settling credit card debt for less than what you owe is not rocket science, but there is a formula to […]
5 Things You Won’t Hear From a Debt Settlement Company
There are some concerns you should be aware of if you hire a debt settlement company to help you settle credit card debts. These concerns are mostly related to debt settlement companies and their ability to settle debts with some creditors. But there are other key business practices used by the debt settlement industry that […]
Debt Forgiveness and Taxes when Creditors Forgive or Abandon Collection
Settling debt for less than the balance you actually owe involves debt forgiveness. Your creditor is forgiving a portion of the debt owed to them because collecting something from you is better than nothing. But there are IRS rules for your creditors to follow if the amount forgiven exceeds $600.00. Your creditor is required to […]
Date of Last Activity is Important For Credit Repair and Settlements
Date of last activity (DOLA), or date of last payment (DOLP), appears on your credit report for virtually every trade line that appears. Fixed loans like a car or mortgage payment are reflected on your credit report, as are credit cards that you have. This date of last activity is significant beyond how it “looks” […]
Getting Debt Settlement Letters and Agreements
We just discussed how to negotiate debts successfully on our own, but that doesn’t close the deal…yet. Negotiating debt and paying the new agreement requires a settlement letter. In the wacky world of debt collection, debt buying, and credit reporting, paying off a debt you settle without having a documented agreement, is a mistake. And […]