I wanted to give you an advanced peek at where the site is heading, my plans and what you will start to see soon on the site. I try to be as open as possible so I might as well bring you into the loop on what is in the works.
This whole site and the nearly 10,000 posts to date are geared towards one thing, helping to educate and inform. In that light you will soon see a dedicated section of the site all about DIY solutions. This education and assistance to do it yourself services is geared towards helping individuals learn more about the different solutions available in an effort to determine what is right for them. Some may want to take on the hard work and task of dealing with creditors themselves. Some, after seeing what’s involved will seek out someone to do it for them.
Empowering readers is my goal.
DIY education and assistance will be offered in three categories to begin with:
- DIY Debt Settlement
The DIY debt settlement section of the site will be powered by Consumer Recovery Network. They offer an intensive course to educate people on how to settle their debt. But Consumer Recovery Network has agreed to have their staff experts monitor a new special section of the site to answer DIY debt settlement questions for free.
For consumers who may be looking for a full service traditional debt settlement company, they won’t find that help at this site. We are not getting into the service provider side of things. Companies that are part of the AACC offer full service programs that can help consumers.
- Free Debt Coach Advice
My friend
- Free Debt Reduction Plans
My friends over at ReadyForZero.com are going to be offering free debt reduction planning and implementation using their really cool online tools to help site visitors to reduce their debt in the shortest amount of time and pay the least amount of interest by better managing how debts are paid off. Soon you’ll be able to easily get an automated plan to do the heavy lifting for you to come up with a plan of action to get out of debt if you are not in trouble.
- DIY Credit Counseling
As far as I am aware this effort will be the Home of the First Free DMPTM. The plan is to publish creditor internal plans to allow consumers to work with creditors directly and create their own debt management plan. A successful debt management plan depends on a good grasp on what money is available each month to promise for debt repayment so education here on tracking the cash and budgeting will be important. But the site will not be offering a debt management program. It will continue to guide consumers to excellent debt management companies like those of the AACC.
Other Changes Coming
Some of the feedback I’ve heard from people is with all the information that is currently available on the site it is getting hard to find things. So with that in mind a site redesign is in the works. This site makeover is designed to address the underlying usability issues and help site navigation.
I have some good friends that are working on wireframe usability suggestions and an exceptional team of designers that will implement the eventual plan. Change is coming.
Part of that effort to make the site more useable and empowering will be geared towards building a stronger community of people helping people. I want to create a tribe or community of consumers that care enough about others in trouble that they will lend a hand and offer advice.
We all do better when we work together to make things better.
And while there are lots of changes in the works the one thing I’ve decided not to change is the price. Most everything will remain free or next to free on the site. The primary funding from this site comes from ad support and just like any media outlet. So as long as advertising can support the work of the site, free it will be for consumers.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
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Steve, the changes you mentioned are great. Empowering people with facts and knowledge is exactly what will prevent awareness, and ability. Your site has great power to help people on so many levels!
It’s always good for people to keep in mind that with the internal creditor hardship plans, they will usually note it on the credit report and close the account.
I think there are some credit counselors out there who take all their money from fair share and don’t charge a monthly fee or some that will waive it in certain instances.
In reality, the creditors should offer plans direct to consumers with better rates because they are not paying any fair. I would like to see creditors offer two internal plans- one that closes the account and reduces interest rates maybe down to 10% with no damage to the credit report, as well as an “extended hardship plan” with 0% interest but the plan would be noted on the credit report.
It’s always good for people to keep in mind that with the internal creditor hardship plans, they will usually note it on the credit report and close the account.
I think there are some credit counselors out there who take all their money from fair share and don’t charge a monthly fee or some that will waive it in certain instances.
In reality, the creditors should offer plans direct to consumers with better rates because they are not paying any fair. I would like to see creditors offer two internal plans- one that closes the account and reduces interest rates maybe down to 10% with no damage to the credit report, as well as an “extended hardship plan” with 0% interest but the plan would be noted on the credit report.
How about a TRUE debt restructure? Like this:
Let’s say you owe Chase, B of A, Wells, and Cap1. Totalling $9,500.
While all have to charge you off at a certain point, the banks like to have performing assests on their books. One of those creditors should keep you as a customer by extending to you the amount you owe as a consolidation line on your current account, cut any spending abilities and structure a long term payment plan. That means all the banks get paid and one of the banks wins by keeping the customer a true customer paying tem thier interest. (It would have to be low, not their typical 29% … )
It would take a lot of work, but imagine a bidding war from the creditors to actually keep you paying them. Imagine what kind of awesome tools could be generated from an option like this. Qualification tools, uniting debt relief and banks to actually work toward the same end result…
After all, they are just going to issue you a new cc 12-24 months after bk, why not keep you making small payments each month so you can stay on their books as a performing customer.
I dont know, maybe too far fetched of an idea.