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Fourteen Questions to Ask Any Debt Settlement Agency

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I came across these questions below on a debt settlement company site, New Era Debt Solutions, and I was really impressed that they were really open and honest about the problems consumers face with debt settlement and what to watch out for. So, with permission, I present to you the Fourteen Questions to Ask Any Debt Settlement Agency from the ... Read More »

    I Want You to Meet Who You Helped Today – Sobira Bobakhonova

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    It is important for you to meet who we helped today through this site. As I mention, all over the place, revenue from people clicking on ads and using the service of advertisers is used to help sponsor people in poverty through Kiva. Please visit or use the services of advertisers on the GetOutOfDebt.org site so we can help more ... Read More »

      Thirty Five Years Latter And Been There Before

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      The Elkhart Project that MSNBC is working on managed to resurrect some news stories from 1973 and I just watched them. It is frighteningly uncanny how they mirror the messages that we are all dealing with today on getting by, job loss, foreclosure, and repossession. A good reminder that while times feel grim right now, that the economy moves in ... Read More »

        Don’t be a Victim of This and a Victim of That. Get Over It.

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        I just heard “Get Over It” by the Eagles and it made me laugh because the message is so true in the debt world. I turn on the tube and what do I see A whole lotta people cryin, Don’t blame me. They point their crooked little fingers ar everybody else Spend all their time feelin’ sorry for themselves Victim ... Read More »

          The Elkhart Project – Putting Faces on Debt

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          I saw a tweet from @newmediajim about an interesting project between MSNBC and The Elkhart Truth. These two news organizations are going to provide long-term coverage on the city of Elkhart, Ind. to provide perspective on the national recession. It is a great idea and another interesting media sharing project to help media outlets share costs and overhead while delivering ... Read More »

            I Want You to Meet Who You Helped Today – Chen Sapourn

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            It is important for you to meet who we helped today through this site. As I mention, all over the place, revenue from people clicking on ads and using the service of advertisers is used to help sponsor people in poverty through Kiva. Please visit or use the services of advertisers on the GetOutOfDebt.org site so we can help more ... Read More »

              FBI & FTC Investigating Foreclosure Rescue Companies and Loan Modification Schemes

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              The Federal Trade Commission today announced a crackdown on fraud and deception by mortgage modification and home foreclosure rescue companies. The FTC is seeking to halt the proliferation of these mortgage relief scams – which target distressed and vulnerable consumers who are delinquent or facing foreclosure – through increased law enforcement, consumer outreach, and close coordination with federal, state, and ... Read More »

                Most People Hate the Debt Advice They Get and Instead Seek Out Answers They Want to Hear

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                Since I’ve been helping people with money troubles, since 1994, one constant has existed, people don’t like the debt advice they get. This is not a reflection on the quality or appropriateness of the advice they get but a reflection of a conflict between what they want to hear and what they do hear. The denial to accept sound advice ... Read More »

                  The Emotional Toll of Financial Problems

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                  A nice article from Fort-Myers, Florida, that has been especially hard hit by the economic problems facing us, highlights the emotional toll that bankruptcy can take on people. As the article points out, those that are facing financial problems today are facing failure for the first time in their adult life. Dealing with the feelings of failure can lead to ... Read More »

                    Most Debt Advice Suggested is Snake Oil or the Wrong Solution For People In Trouble. Here’s Why.

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                    I’ve been following the conversations on Twitter (@GetOutOfDebtGuy) and watching what others are saying about debt management, credit counseling, debt settlement and bankruptcy and it really has me worried and concerned. I’m a guy that lived through financial problems myself and went bankrupt in 1990. I then went on to found and run a non-profit credit counseling company, Debt Counselors ... Read More »

                      Loan Modifications. More PR Than ER. 57% of Monthly Payments in Modified Loans Are the Same or Higher.

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                      According to a recent study of loans that were modified by lenders, only 29% of loan modifications made at the end of last year actually reduced borrowers’ payments by more than 10 percent. Now this is a good news, bad news story. The good news is that some loans did receive some needed modifications. The bad news is that for ... Read More »

                        Circuit City May Be Dead, But Not The Circuit City Credit Card. It’s Alive.

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                        This news about Best Buy and Circuit City was recently reported. Best Buy Co. Inc. is making a move to woo people who had credit cards through its now-defunct competitor — Circuit City, according to media reports. Best Buy spokeswoman Sue Busch told Bloomberg News that Chase Bank USA will automatically issue Best Buy cards to existing Circuit City credit-card ... Read More »

                          Save Money Shopping. Don’t Touch Stuff.

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                          Really smart brilliant people design retail chain stores knowing the hidden tricks that will lead you to spend money when you don’t want to. For some people it is the subtle chocolate chip cookie smell pumped into women dressing rooms that spokes sales or just laying out merchandise so you can easily touch it. Here is story all about the ... Read More »

                            Debt Collectors Agree to Not Chase Debtors for 30 Days

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                            Collections agencies in the UK have agreed not to chase debts for 30 days when debtors seek advice from accredited debt management companies. The 30 day breathing space, agreed between the Department of Business, Enterprise and Regulatory Reform (BERR) and the Credit Services Association (CSA), will start once an accredited debt management company has been appointed to help a debtor. ... Read More »

                              Sensible Christian Advice Video to Get Out of Debt

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                              I’ve written in the past about my issues with those outfits that promote themselves as Christian credit counselors. Read “Is Most Christian Debt Advice Bogus? Here’s What Jesus Would Really Do.” But for those that are interested in a good perspective on sensible debt advice based on the bible and scripture, I suggest that you watch the video below from ... Read More »

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