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Tag Archives: debt settlement

Can My Wife and I Independently Go Into a Debt Relief Program? – Paul

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“Dear Damon, My Wife just closed her business and the outstanding unsecured debt is about 100K. My personal debt is about 38K. I want to go on a debt relief program where a company negotiates a reduced amount and interest. She does not want to do this for her debt load. Can we independently arrange for debt relief? I want ... Read More »

Debt Settlement: Top Ten Most Misunderstood Facts

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Over the past few years debt settlement has been in the news, not always in a good way. Many consumers have complained about the services they’ve received while some have been very happy. Much of the disparity in the perception of the service is due to misconceptions about the process itself. So here are the top ten misconceptions I see ... Read More »

Trapped in a Debt Settlement Contract. What to Do? – Dean

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“I contracted a debt settlement company now that it changed. I signed with them back in May of 2010, this was before the new law changed for settlement companies not to be able to charge up front for settlements. The contract is crazy, and I was stupid to sign it. I was totally delusional from stress and depression when I ... Read More »

Is Your Old Advanced Fee Debt Settlement Company Secretly About to Fail? What to do.

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photo © 2008 J.B. Hill | more info (via: Wylio)Next month will mark the six month anniversary of the passage of the FTC telemarketing sales rules which changed the landscape in debt settlement sales. As a consumer advocate I don’t think there is any doubt they TSR has had a fundamental and positive impact on the way debt settlement services ... Read More »

The FTC Does Not Want Debt Settlement to Survive

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A tipster (send in your tips here) sent in the following comment I wanted to address. But now that debt settlement is dwindling, it is clear the FTC wants this industry not to survive or rebound. DS needs internet marketing. FTC is shutting down lead gens, who are not companies, and pretty much everyone right now. photo © 2008 Hazrulnizam ... Read More »

Debt Settlement – The Tortoise and the Hare

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This is a guest post by Michael Bovee from Consumer Recovery Network. Get Out of Debt Guy – Twitter, G+, Facebook Debt Settlement – The Tortoise and the Hare by Michael Bovee Debt Settlement is certainly an effective approach to get from under a crushing amount of credit card debt – for the suitable candidate. Over the years of working ... Read More »

SteveSavers – Group Discounts to Save Big Bucks on Debt and Credit Help

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Today I’m announcing a new free service of the GetOutOfDebt.org site, SteveSaver’s. So what is a SteveSaverTM you are probably asking? There are a number of areas that people spend money on credit and debt issues. They spend money on credit counseling, credit reports, credit scores, debt settlement services, etc. So I thought, let’s bring group saving discounts offers to ... Read More »

I Was Not a Compulsive Shopper. I Was a Day Trader. – John

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“Dear Steve, I’m currently having two debt settlements going on between two cards totalling $14,000. Actually, I had three credit cards when I started the settlement, with a total debt of $19,000. One was settled so far with a balance of $5,500 being settled for $1,700. Still waiting on the other two, but while I’m waiting my credit score is ... Read More »

Am I Able to Settle My Debts With My Credit Card Companies Even Though I’m Current? – Kaye

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Kaye “Dear Steve, I have $25,000 in credit card debt (that I am current on and make the minimum payments each month). Should I file bankruptcy? Am I able to “settle” with any of these creditors to pay off a lump sum amount that is less than what I owe (if I am current on all accounts)? I am current ... Read More »

Lynn is Working With a Debt Settlement Company But Being Sued By Her Creditor

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“Dear Steve, I am with a debt negotiation company for over a year and i am being sued for one of my debts, the law office that represents the debt informed me that the company I am paying money to never contacted them when I faxed the letter over a month ago. Now I have been summonsed to court and ... Read More »

J Says “Debt Consolidation Screwed Me Over”

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J wrote in trhough the GetOutOfDebt.org site and asked: “I was paying my bills in time, till I decide to go to a debt consolidation program so I can get more money for myself. I was paying them for a year and creditors started to call me that I havent make payments for 11 months so I told about the ... Read More »

New Debt Settlement Rules – Get Out of Debt Radio Show

This week Damon Day and I talk about the new debt settlement rules that were announced by the Federal Trade Commission, the need for them, the impact on debt settlement companies, why some debt settlement companies will fail and others thrive, and more about the attorney model of debt settlement that is being promoted as the way to save the ... Read More »

Money America Radio Show With Steve Rhode, August 5, 2010

Yesterday I appeared as a guest on the Money America radio show that is heard in Massachusetts. Here is the broadcast and as you will hear it focused on recent changes in the rules from the Federal Trade Commission regarding debt settlement. You can listen to the show below. Money America Radio Show With Steve Rhode, August 5, 2010 Get ... Read More »

Mailer From Lender Results in Referral to Debt Settlement Company Legal Helpers Debt Resolution

Thanks to an awesome tip, I received a mailer that is being sent out. This one was received by a Pennsylvania resident. The mailer was sent out using a West Palm Beach, Florida mailing permit but it appears to come from a company called NFM, Inc. NFM was identified as NFM Lending. Apparently their name used to be National Fidelity ... Read More »

How Do You Value Your Quality of Life? Debt Solutions to Fix The Future

Photo Credit: Cayusa

Debt doesn’t just affect the people actually in debt, it often affects the ones around them, near and dear to them. I know this from first hand experience as someone who has loved and lived with someone so deep in debt they could not see a way out. Not only is the emotional toll hard on the debtor but also ... Read More »

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