We are creeping up on nearly two decades of account fee restrictions for nonprofit debt management plan providers. The counseling groups fought hard and heavy in the early 2000s to limit the fees they could charge consumers for budget advice and debt management plans. For example, in 2003, the State of Maryland enacted The Debt … Read more
Question: Dear Steve, Single mother making $62,000 a year but recently had to rely on my credit cards due to a change in employers. I currently have $23,000 in credit card debt and looking to consolidate into one payment with a lower interest rate. I reviewed your debt management calculator and would like help with … Read more
Question: Dear Steve, Heavy CC debt -150k. Debt resolution or debt management? All seem like scams.. any good companies? Chris Answer: Dear Chris, The debt is the byproduct of choices and decisions that were made previously. There is a need to better understand how you wound up in this position, how it is going to … Read more
The Consumer Financial Protection Bureau (CFPB) released a very interesting report that paints a very different position on debt settlement than you might hear from say a credit counseling agency. While non-profit credit counseling agencies may talk down for-profit debt settlement companies, creditors seem to be embracing them. According to the CFPB, it appears a … Read more
The majority of Americans carry some sort of debt — and many of them struggle with it. According to an analysis from The Urban Institute, 71 million Americans had debt in collections in 2017. If you have so much debt that you feel you’ll never see the end of it, you may need to enroll in … Read more
By Eric Olsen HELPS Nonprofit Law Firm Whether you’re relaxing in front of the TV set or working in front of the computer screen, it’s hard to miss advertisements for so-called “debt settlement” and “debt management” companies. Both claim to offer relief from debt. Both like assuring they can, “get you back on your feet … Read more
Trust Deeds are a legally binding agreement in the UK between you and your creditors to make set repayments over a period of four years. At the end of this period, your unsecured debts would typically be written off. When they work, with all repayments made, Trust Deeds are an effective tool for helping people … Read more
I’m sharing my story out of pure frustration and I don’t even know where to start. First off I’d like to remain anonymous if you choose to share my story as I am still unfortunately dealing with Macklock. While trying to find more information on Macklock I came across your website and this is why … Read more
Sanctuary Belize has nothing to do today with debt relief but it did have a strong past with Andris Pukke involved. You can read all the past stories on the Sanctuary Belize saga. I’m posting this story just to update those who have followed along with the allegations and claims made about Pukke directing money … Read more
Question: Dear Steve, I was laid off & late in my pregnancy when my job closed. I was on disability then when I finally went back to work I fell and went back on disability, over 7 months behind of my bills. Is it better to settle my debt on my own or should I … Read more
It’s been quite some time since I wrote a debt relief industry forecast and trend article. These articles have not been all that popular because most of the people are in denial about the reality I see. You can see past articles here. In the past I used Google search volume as an indicator of … Read more
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 convinced that you needed a professional to help you get better – or things could get much, much … Read more
It’s always nice to see groups in the debt relief industry come together for the greater good. Effective in the early hours of 2016, two trade groups, mostly representing credit counseling organizations, decided to merge to become something bigger and better. The Association of Credit Counseling Professionals, Inc., known as ACCPros, and the Financial Counseling … Read more
When you move outside of your native country you are said to be an expatriate of the country you are moving from. Many UK citizens move to various places around the world, some for work, some just to escape our weather. And one of the places many Brits move off to is the UAE. And … Read more
Q. I have been in a debt management plan for a year now. The payments are over $1,400 per month and I am having difficulty making these payments. Should I try to continue with my Debt Management Plan? A. In a Debt Management Plan (DMP), you make monthly deposits with the company that arranges this … Read more