From How to Get Out of Debt

Over the past year there has been more talk from people about rolling out a 0% fairsahre debt management plan. Fairshare is the money creditors “contribute” to non-profit credit counseling groups. It’s a percentage of funds collected from consumers and returned to their creditors. In the mid-1990s the fairshare percentage was 15% of all funds [...]

Read the full article at GetOutOfDebt.org, click here: Hey Credit Counseling It’s Coming. The No Fairshare Debt Management Plan.

From How to Get Out of Debt

Now that the last storm in debt relief is quieting, namely hurricane ‘debt settlement’ that was quelled by the FTC Telemarketing Sales Rules, it has given me an opportunity to poke my head up and take a wide look at the debt relief horizon. And what I’m seeing is concerning. My roots in the debt [...]

Read the full article at GetOutOfDebt.org, click here: Dear Credit Counseling, Times Only to Get Tougher.

From How to Get Out of Debt

A notice just out to credit counseling groups was sent in by a great tipster. Apparently Citibank, an initial supporter of the NFCC and Consumer Credit Counseling Service program called Call to Action, is terminating their participation. An email sent out to AICCCA members says: Due to resource limitations and required compliance with policy, February [...]

Read the full article at GetOutOfDebt.org, click here: Citibank Closes Credit Counseling Call to Action Program

From How to Get Out of Debt

Below you will find the presentation given by Susan Keating of NFCC regarding the state of credit counseling in the United States. I was pleasantly pleased to find the NFCC talking about possibly leaving the door open to pursue offering debt settlement in the future, efforts to regulate the debt settlement industry, and an admission [...]

Read the full article at GetOutOfDebt.org, click here: 2009 NFCC State of the Credit Counseling and Financial Education Sector Address

From How to Get Out of Debt

Eric wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]

Read the full article at GetOutOfDebt.org, click here: When Are NFCC Call to Action Debt Management Plans Going to Be a Reality? – Eric

From How to Get Out of Debt

For years I have been emphatic that in a credit counseling or debt management repayment plan, it isn’t the interest rate reduction alone that is important, people need to get their monthly payments reduced. That’s more important. New “Call to Action” debt management plans (DMPs) offer low or no interest rates to people who can [...]

Read the full article at GetOutOfDebt.org, click here: Call to Action Debt Management Plans Rolling Out Slowly. May Benefit Consumers Looking to Repay.