Comments on: Where Are The “Eager to Help” Creditors? – Steve http://getoutofdebt.org/6873/where-are-the-eager-to-help-creditors-steve Free debt help and debt advice on how to get out of debt, getting out of debt consolidation scams, and inside information on the debt relief and debt help industry. Sun, 12 Feb 2012 06:45:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Steve Rhode http://getoutofdebt.org/6873/where-are-the-eager-to-help-creditors-steve#comment-8408 Steve Rhode Wed, 13 May 2009 20:05:09 +0000 http://getoutofdebt.org/?p=6873#comment-8408 K Lacy, It's a bit of a double edged sword. On one hand I am a but supporter of open communications with your creditors. On the other hand I have seen so many cases when the creditors would not offer meaningful help that I guess I'm skeptical. The debts that people are having the most trouble with are home loan modifications and modifications for auto financing. But both of these areas are traditionally areas where the lenders have not been very flexible to begin with. As far as Obama and credit card help goes, I think that there has been a lot of progress made to protect consumers from credit card companies. New legislation that will pass soon will increase consumer protection even more. And your observation is correct. There was no protection offered to consumers under the stimulus plan. In fact if you listen carefully, you will hear that the government wants consumers to start borrowing and banks to start lending to get the economy going again. Unfortunately it takes consumer consumption to drive our economy. Steve K Lacy,

It’s a bit of a double edged sword. On one hand I am a but supporter of open communications with your creditors. On the other hand I have seen so many cases when the creditors would not offer meaningful help that I guess I’m skeptical.

The debts that people are having the most trouble with are home loan modifications and modifications for auto financing. But both of these areas are traditionally areas where the lenders have not been very flexible to begin with.

As far as Obama and credit card help goes, I think that there has been a lot of progress made to protect consumers from credit card companies. New legislation that will pass soon will increase consumer protection even more.

And your observation is correct. There was no protection offered to consumers under the stimulus plan. In fact if you listen carefully, you will hear that the government wants consumers to start borrowing and banks to start lending to get the economy going again. Unfortunately it takes consumer consumption to drive our economy.

Steve

]]> By: K Lacy http://getoutofdebt.org/6873/where-are-the-eager-to-help-creditors-steve#comment-8407 K Lacy Wed, 13 May 2009 19:48:49 +0000 http://getoutofdebt.org/?p=6873#comment-8407 Steve, OK I saw you tell someone else they were silly for falling for claims of creditors willing to help you out. There are two commercials in particular airing now basically giving an example of someone who was at their wits end and creditors...Capital ONE, Discover, etc. worked with them. Are you saying this is an out and out lie. If so whats up. Your always told to try talking to creditors which has worked for me except for GM Card. They absolutely would not budge when ask for any kind of help, not trying to get out of paying them mind you,asked for lower int rate, lower monthly payment.... and they were EXTREMELY rude over the phone, even though they just had a bailout!!!!!!!!! and although i voted for Obama his credit card help seems to be a joke. Basically they will do whatever they have been doing as long as they notify us in advance were being screwed. Just wondering if you have any idea why there was NO help for credit card customers in this stimulus plan. thanks K Lacy Steve, OK I saw you tell someone else they were silly for falling for claims of creditors willing to help you out. There are two commercials in particular airing now basically giving an example of someone who was at their wits end and creditors…Capital ONE, Discover, etc. worked with them. Are you saying this is an out and out lie. If so whats up. Your always told to try talking to creditors which has worked for me except for GM Card. They absolutely would not budge when ask for any kind of help, not trying to get out of paying them mind you,asked for lower int rate, lower monthly payment…. and they were EXTREMELY rude over the phone, even though they just had a bailout!!!!!!!!! and although i voted for Obama his credit card help seems to be a joke. Basically they will do whatever they have been doing as long as they notify us in advance were being screwed. Just wondering if you have any idea why there was NO help for credit card customers in this stimulus plan.
thanks
K Lacy

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