credit counseling

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  Should My Son Consider Credit Counseling or Bankruptcy? – Carla

  Question: Dear Steve, My son and his wife are struggling with credit card and other unsecured debt. They are still able to pay all the bills each month, but are only paying minimum payments. They have about...

  • Posted December 6, 2016
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  Credit Counseling Opportunity – Helping Farmers in Financial Trouble

  An article out of North Dakota describes credit counseling opportunities for agencies and farmers. In North Dakota the Department of Agriculture is responsible for the North Dakota Mediation Service. The service helps financially distressed farmers and ranch­ers...

  • Posted November 21, 2016
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  Different Options for Debt Relief – Finding the Right Solution

  Imagine you were sick. Really sick. Sick enough to go to a doctor or even a hospital. Perhaps you even looked up your symptoms on the Internet, visited WebMD, did a ton of internet research and were...

  • Posted February 16, 2016
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  Poll Results Show Credit Cards Stay Home This Summer

  National Foundation for Credit Counseling (NFCC) While using cash or a debit card is a great way to avoid going into debt, there are some additional considerations that should be made before making them the only options...

  • Posted July 30, 2015
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  The Little-Known Lifeline for People Drowning in Credit Card Debt

  If you’re struggling to make payments on your bills, you may not know that you have options – including what’s typically called a hardship repayment program. These are programs that banks may offer directly to you, their...

  • Posted May 11, 2015
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  WARNINGS About Credit Counseling Programs and Long Term Debt Repayment Plans

  In my first article in this series I outlined many benefits you get from working with a credit counseling agency. But there are also drawbacks to enrolling in a DMP (debt management plan) in order to get...

  • Posted February 16, 2015
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  Disappointing Debt Relief Mailer Leads to Debt Defense Services

  A new debt relief mailer, which you will see below, poses as an official document but in fact leads to a potential sale for Debt Defense Services according to the tipster (send in your tips here). What...

  • Posted August 16, 2013
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  Why Most Debt Settlement Companies and Credit Counselors are Bad Medicine

  A couple of years ago I wrote an article asking, pleading really, for any debt settlement company (DSC) to explain to me how they could ever possibly “do whatever is in the best interests of the consumer”...

  • Posted July 31, 2013
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  Why People Have a Tough Time Shopping for Debt Help

  The Federal Reserve Bank of Philadelphia published a paper by Stephanie Wilshusen which made some very enlightened observations about why consumers struggle with getting out of debt. In the paper, “Meeting the Demand for Debt Relief” it...

  • Posted July 10, 2013
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  Debt Relief Legal Front Victimized Thousands Says FTC

  The Federal Trade Commission just released the seal on actions it took to shut down a debt relief company that has appeared on this site before. – Source In an announcement made today, the FTC filed a...

  • Posted July 2, 2013
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  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...

  • Posted May 16, 2013
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  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...

  • Posted May 13, 2013
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  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...

  • Posted April 29, 2013
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  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...

  • Posted April 17, 2013
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  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...

  • Posted April 1, 2013
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  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...

  • Posted March 24, 2013
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  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...

  • Posted January 28, 2013
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  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....

  • Posted August 14, 2012
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  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...

  • Posted July 19, 2012
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  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...

  • Posted June 22, 2012
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  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...

  • Posted June 11, 2012
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• 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...

  • Posted April 6, 2012
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• 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...

  • Posted December 19, 2011
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• 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...

  • Posted December 12, 2011
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• 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...

  • Posted November 29, 2011
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• All About Cambridge Credit Counseling Corp.

  Company Name Cambridge Credit Counseling Corp. Owners/Managers Christopher A. Viale, President & CEO Thomas W. Hebert, Chief Financial Officer Tracy Guay, Clerk Of the Corporation Physical Street Address 67 Hunt Street Agawam, MA 01030 Contact Information 1-800-CAMBRIDGE...

  • Posted October 21, 2011
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• Deceitful Debt Relief And Mortgage Operation Shut Down

  A United State district court has shut down two related operations who apparently failed to provide promised debt relief services and jeopardized clients’ privacy by at the Federal Trade Commission (FTC)’s request. Apparently one firm charged consumers...

  • Posted October 7, 2011
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• Wanna Know a Secret About the Debt Relief Industry?

  As modern and clever as we might feel here on the bleeding edge of history there is one cold hard fact I can’t ignore, these are still the dark ages of the debt relief industry. Let’s just...

  • Posted October 6, 2011
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• I Can’t Afford My Debt Settlement Program Anymore and Want to File Bankruptcy. – Tony

  “Dear Lewis, I am currently enrolled in a debt settlement plan but i am unable to make the payments due to losing one third of my income in the last 10 months. I went with a law...

  • Posted October 2, 2011
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• I Have Questions About Entering a Debt Management Plan With MMI. – Jennicka

  “Dear Steve, Thank you for your site. I’m at a precipice and need your help. I am employed making $130,000 a year with $76,000 in debt, with mortgage and school tuition monthly payments of $3200 a month...

  • Posted September 2, 2011
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• Does Credit Counseling Have a Fiduciary Duty to Mention Ethical Debt Settlement to Consumers?

  Yesterday a commenter on my article Dear Credit Counselors, You Are Your Own Worst Enemy made a very interesting comment that raises a number of questions. The comments had been flowing between what appeared to be people...

  • Posted June 28, 2011
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• Debt Relief industry Trends, June, 2011 – Credit Counseling, Debt Settlement, Bankruptcy

  In what has turned into a regular report from this site, here is the next installment in my forecast for the debt relief industry. The extension of consumer credit remains weak. Delinquencies and defaults are dropping and...

  • Posted June 26, 2011
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• Credit Counseling North Carolina

  Credit Counseling North Carolina Here in North Carolina, like many other states the availability of finding good credit counseling assistance is confusing. People need help trying to figure out where to turn for help but who can...

  • Posted June 25, 2011
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• Dear Credit Counselors, You Are Your Own Worst Enemy.

  I’m frustrated. For the life of me I can’t understand why credit counseling continues to look at debt settlement as the enemy. The anger and desire to kill the solution seems to be opposite of what a...

  • Posted June 24, 2011
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• Would it Be Better for Us to File Bankruptcy or Go With Credit Counseling in Pennsylvania

  “Dear Lewis, Yes I am about 10,000 in credit card debt. I recently got married he also has debt to together are credit card debt is about 700.00 a month. We are not on each other account...

  • Posted June 20, 2011
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• Is Debt Management or Credit Counseling the Best Solution for Me? – Trisha

  I make approximately $65000 a year but owe $30000 in unsecured debt in addition to student loans, a mortgage (that just went up by $500 due to escrow issues) and a car note. As a side note...

  • Posted May 27, 2011
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• Can My Wife and I Independently Go Into a Debt Relief Program? – Paul

  “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...

  • Posted May 24, 2011
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• Debt Settlement: Top Ten Most Misunderstood Facts

  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...

  • Posted May 2, 2011
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• Some Credit Counseling Groups Not Optimistic About Future. Looking to Merge.

  So much of the past year or so has been directed towards the debt settlement world. The credit counseling world has just be slowly ticking away and watching their funding shrink from creditors. Funding may be shrinking...

  • Posted April 18, 2011
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• The FTC Does Not Want Debt Settlement to Survive

  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...

  • Posted March 1, 2011
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• Credit Counseling Missing the Boat by Fighting With Debt Settlement

  A tipster (send in your tips here) sent me an email outlining how a number of credit counseling groups are funding a campaign to try to “expose bad debt settlers.” And while the campaign has been ongoing...

  • Posted January 26, 2011
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• SteveSavers – Group Discounts to Save Big Bucks on Debt and Credit Help

  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...

  • Posted December 13, 2010
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• How Can We Reduce Our Interest Rates So We Can Pay Our Own Way? – Joan

  Husband out of work, medical bills billing up only 1 income and starting to slide downhill on higher interest crds would like to know if we can reduce interest rates and late fees on some of the...

  • Posted November 26, 2010
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• Dave is in a CCCS Credit Counseling Program But Feeling Hopeless

  “Dear Steve, Family of 4 (13 yr & 12 yr girls). My salary = $112K, wive’s salary = $40K. Total Assets $292K (liquid $10K, autos $9, house $200, 401K $73K). Total Liabilities $204K (mortgage $112, home equity...

  • Posted October 26, 2010
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• I Was Looking Into Consumer Credit Counseling. – Linda

  I need to get help from a debt counseling company. I was looking into Consumer Credit Counseling since that is suppose to be the best one to go to. I want to find out if you have...

  • Posted October 25, 2010
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• How Do I Get the Credit Card Company to Lower My Payment to What I Want? – Sally

  “Dear Steve, My husband almost died due to an abscess on his liver. Medical bills piled up. Then he lost his job. Then I lost my job due to budget cuts. Currently my husband is unemployed, and...

  • Posted October 8, 2010
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• I Don’t Want to Use a Credit Counseling Agency. What Can I Do? – Denise

  “Dear Steve, I need help with my credit card debt. I owe $20,000. I live in New York State. I only make $35,000 a year. I always pay them every month and on time. I pay about...

  • Posted September 15, 2010
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• Teresa Writes In “I Have Too Many Credit Cards”

  Teresa “Dear Steve, I have too many credit cards. Where do I start to get rid of them? Teresa” Dear Teresa, Credit cards don’t magically appear in our wallets or purses. They appear because we have done...

  • Posted August 21, 2010
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• Only Making Minimum Payments And Can’t Get Out of Debt. – Debbie

  “Dear Steve, I owe $10,000 on four credit cards and can only make the minimum payment. I will never get these debts paid off. I am not behind but I’m having a hard time making them. Debbie”...

  • Posted July 27, 2010
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• It’s Frustrating to Make Minimum Payments But Feel Like We Are Getting Nowhere. – Kristen

  “Dear Steve, Currently my husband and I have over $35,000 in credit card debt which has accumulated throughout the past few years when I was a stay-at-home mom and getting by was difficult. We are now both...

  • Posted July 16, 2010
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