Category: Debt Settlement

How to get 0% interest on your credit card debt

Telling reporters that many people have gotten “trapped” because of the economic downturn that has turned family budgets on their heads, President Obama recently signed into law new rules to regulate the practices of credit card companies.

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What NOT To Do If You Have Too Much Debt

If you feel like you’re in over your head with personal debt, you’re not alone.  Millions of Americans have become overextended, many as a result of easy credit and the recessions.  Credit cards, medical bills, personal loans and raising interest rates do not make a good financial mix.

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Debt Consolidation: Your various options for consolidating your debt

If you have accumulated huge amount of debt and that is giving you sleepless nights then it is high time that you should think about debt consolidation. You can surely consolidate your debts if you earn a stable income every month.

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Debt Settlement Nightmare for Phoenix Woman

AZfamily.com reported today the story of Rosie Stewart who found herself in $175,000 worth of credit card debt after her business fell victim to the economic downturn.  Like many people she turned to a debt settlement company that was big on promises but short on results. Essentially she paid this company Ram Financial Services over $12,000 dollars and received nothing but a lawsuit form one of her creditors.

Incredibly when she contacted Ram about the lawsuit, she was told that the entire $12,000 that she paid them went toward their fee and nothing went to settle her debts.  To further add major insult, they also added that she still owed them another $8,000 before they would negotiate with her creditors.

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Do I Qualify for Debt Settlement?

If you are reading this article, it most likely means that you are knee deep in debts and are desperately looking for ways to get out of it. At this juncture, debt settlement will look like a life saving option. Well why wouldn’t it, if it effectively brings down the amount you owe your  creditors by 20%-60%. But the only glitch here is that not all debts and debtors are qualified for debt settlement. It is important to be well informed about whether or not you qualify for this option, before taking further steps.

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