Tag Archives: credit counseling

The Role Credit Counseling Plays in Debt Relief

The following is a guest post. And while I personally might not agree with some of the points of view, I think it is important for people to hear from different sides. Given what I think is going to be an exploding retirement crisis I am now more convinced that for those near or over [...]

I Suggest Bankruptcy Too Often, So Say Some

I really do read all the comments, all the Twitter messages you send me and appreciate the feedback. Over time a common statement I get is about my recommendations is that people think I suggest bankruptcy too often. For more information on this topic, please see all the links in my free guide about how [...]

NFCC Press Release Seems to Misrepresent Truth About Credit Counseling. But Why?

The National Foundation for Credit Counseling sent out a press release today claiming their survey uncovered public misconceptions about credit counseling agencies. The press release listed five areas the NFCC felt consumers struggled with in knowing the truth about credit counseling. But some of the points the NFCC felt they needed to clarify appear to [...]

Consumer Credit Counseling Pros and Cons. My Ultimate Guide to Understanding How Credit Counseling Really Works.

Consumer credit counseling is one of the options people turn to when dealing with debt issues so let’s take an honest look at the pros and cons of the program and what it has to offer. Consumer credit counseling in one form or another has been around as debt proraters, debt lumpers, or debt consolidators [...]

What Repaying Your Debt Will Cost You in Retirement – Calculator

This calculator demonstrates the future retirement financial loss you may experience when electing to repay your debt with an extended repayment program offered by creditors, credit counseling or debt settlement, rather than intervene on your debt with solutions like bankruptcy which terminate the debt quickly and allow you to resume saving again for retirement. Calculate [...]

The Hidden Real Cost of Credit Counseling and Debt Settlement

With a more uncertain future for those headed towards retirement it makes logical sense that we need to make preparing for our own retirement a priority in our lives. All indications are there will be less financial help available for us when we do eventually retire and that will most likely be later than most [...]

Consumer Credit Counseling Insider Alleges Corners Are Being Cut to Sell DMP

A tipster (send in your tips here) reached out to me from inside a very recognized consumer credit counseling organization and shared with me their concerns about corners they felt were being cut. I’ll share the comments they shared with me, minus the company name, and I’d love to hear you opinion of how widespread [...]

The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line

It’s probably a bad idea to start off with a negative but here it is, people in the debt relief industry are going to hate this article. Even friends of mine in the industry will be bummed. And why, because this article will tell you everything you need to look for when checking out a [...]

Greenpath Pays Credit Counselors More

A reader forwarded me a link to a site called Glassdoor where people can do salary searches for specific jobs by salary or opening. The results are kind of interesting. If you sought to be paid the most as a credit counselor, according to Glassdoor, the last place you want to work is Arizona Federal [...]

The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, Bankruptcy, and Debt Consolidation Loans

This is a story that I’ve been working on for a few weeks. I’ve been asking people and groups for feedback and information to write this but what I’ve run into, is a wall. I have received some feedback from groups and people that don’t wish to be publicly identified to protect themselves but what [...]

If U.S. Court Bankruptcy Video Can Say Debt Settlement Is an Option, Why Can’t Credit Counseling?

I was watching a video put out by the Federal Judiciary on the U.S. Courts site and was surprised when I saw they U.S. Courts listing debt settlement as an alternative to bankruptcy. The list also includes credit counseling, working with creditors (reduction in payments), and selling assets or debt consolidation loans to satisfy debts. [...]

I Need to Take Out a Payday Loan to Cover My Credit Counseling Payment

im currently on a debt management plan of 100 per month but needed to take a payday loan out to cover my self for the month but when my payday comes i wont be able to pay both. unless i get it exended till next payday or do you think dexter bell would add this [...]

I Went Into Debt as a Single Mom. – Theresa

“Dear Michael, I went into large amounts of credit card debt as a single mom. I divorced when my house was worth $50,000 more than it is now. I insisted with my ex to keep the house so my kids can graduate in the same house. Once the youngest graduated, I lost a lot of [...]

Less Than Full Balance Plans and the Problems They Create for Credit Counselors

For many years debt relief plan providers, such as nonprofit credit counselors, and debt settlement service providers, have been seen as two separate and distinct structures in the debt relief services industry. These two sides of the industry have often been at odds with one another. While debt settlement providers have never come together as [...]

Refunds Now Being Sent To Victims Of Express Consolidation Debt Management Services

Four years after the Federal Trade Commission (FTC) filed a case against Randall Leshlin and his debt management services company, Express Consolidation, the FTC is mailing out refund checks to almost 3,000 consumers across the country that fell victim to worthless debt management services. The reimbursement stems from a February 2009 contempt finding against Florida [...]