My Online Debt Solutions

We are in the middle of a recession! The Federal Reserve Board recently released some shocking figures. There have been more than 1.4 million bankruptcies filed since January of 2010. Also since the New Year has begun, there have been 900,000 foreclosures on homes! The people in our country are in trouble!

Even more shocking numbers is that our overall consumer debt is at slightly below $2.46 trillion dollars. Out of that amazing number, $866 billion of it is credit card debt alone! How long do you think it will take the people of this country to pay back $2.46 trillion dollars? The reality is that the people of America need help getting out because getting out is more difficult than it was getting in. How is our country going to get out of this? How many people have considered debt settlement?

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Last year, the President proposed an act that would help all Americans who have credit card debt. The CARD act took effect last Monday and has many consumers excited. Part of this new law puts a stop to the outrageous fees and interest changes that credit card companies are getting away with on a daily basis. An interesting part of this new law says that credit card companies will need to report on your monthly statements how long it would take you to pay off the balance if you continue to only pay the minimum payment. As great as this is, it might send quite a few people into shock about their finances. Many people will probably find out that they are going to have to pay the minimum payment much longer than they originally thought.

With this new found shock that people may be in, hopefully they realize that they might need help. As Americans, there are so many industries and options to help when it comes to finding a way to pay off your unsecured debt. As much as options are a great positive, they can also be a negative when you are not sure how to choose between all of the options such as debt settlement, debt negotiation, bankruptcy, debt consolidation, debt counseling, etc. It is hard to know which option can fit your needs best.

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Do you find yourself in a struggle with your debt? When exploring ways to pay off your unsecured debt, you will probably run across debt negotiation/settlement companies. A large factor is choosing the right company for you, is based on if they are not-for-profit or if they are for-profit.

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What do the names Abraham Lincoln and Thomas Jefferson bring to mind? Civil War? Slavery? Declaration of Independence? Louisiana Purchase? Would you ever think that both Presidents experienced bankruptcy first hand in their lifetimes? A business venture of Abraham Lincoln’s actually failed and it took him 17 full years to pay off his accrued debt.

As we look at history, I wonder if debt would be handled differently if they had debt settlement programs. If Jefferson and Abraham were candidates for a debt settlement program, I think they would have jumped all over it.

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Don’t pay off your credit card and unsecured debt just yet! Look into debt settlement companies! There are so many people in debt today and debt settlement companies are becoming more popular than ever! These creditors are willing to settle for less than you owe to avoid having you default on the complete amount!!

With all of these individuals in delinquent status, companies such as medical institutions, banks, and lenders all just want SOME sort of money so avoid losing the full amount! This is your opportunity!!! However, BE CAREFUL when choosing the correct debt settlement program because lots of them charge upfront fees. Financial Consulting Services has NO upfront fees and will give you a FREE debt settlement consultation! Fore more information, visit their website: Financial Consulting Services. They have debt consultants waiting for your call!! 1-877-386-3603

The hard-working American middle-class is filing bankruptcy in higher numbers than ever before. It’s not the rich, nor the poor, but the middle-class that is falling behind on all payments quicker than they can catch up, and it’s costing them their credit score, their financial future, and their wallet.

In the past, the path to financial freedom and success has been a college degree and home ownership. These days, the path to financial freedom and success is anyone’s guess.

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The Simple Plan

Do not pay upfront fees! Seriously, do not pay any fees upfront for debt relief services if you are not 100% certain that they will follow through on their promises to get you out of debt. If the contract terms are shady, if they promise you pennies on the dollar, or if they require that you pay before anything is signed, run for the hills. Debt relief services should not come with outrageous fees that you pay up front before any action has been taken. It’s that simple.

That’s why we’ve named our new program The Simple Plan. It’s a brand new program the charges no upfront fees for debt settlement. Inspired by this rough economy and our desire to simply help people out of debt, we offer superb debt settlement services without charging upfront fees.

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Record Breaking Bankruptcy Numbers Accompany Economic Growth

Is the economy turning around? Well, we’ve heard all the experts say that it’s finally on the right track, but what does that really mean to American consumers struggling with credit card debt and facing a 10% unemployment rate?

Strictly looking at the numbers, it does seem like some things are getting better, while some, like the job market, are continuing to struggle. According to Time, consumer spending went up 6.6% over the summer, and Gross Domestic Product grew 7.2%. These are amazing numbers, taken completely alone. However, American’s lost over 165,000 jobs during that same time and the unemployment rate isn’t improving.

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Bankruptcy, Medical Bills, and the “Emergency” Credit Card

Bankruptcy and medical bills; you could say the two terms literally go hand in hand these days. It’s amazing when you take a moment to stop and really look at the numbers. Take into account that we are heading for a record-breaking bankruptcy year, it’s extremely difficult to ignore the fact that “something’s gotta give.”

According to CreditCards.com, we are on a fast track to filing 1.4 million bankruptcies this year. We’re already at over 1.07 million, and the number is climbing very fast. Wrap this number around your head; 6,000 bankruptcies are being filled every month nationwide! With the Credit Card Act changing the game of the credit industry, and the unemployment rate at around 10% nationally, and health insurance companies taking advantage of everyone, it really shouldn’t be a surprise that bankruptcy numbers are through the roof.

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“First, credit card companies took advantage of stagnant wages to push credit cards way beyond what working families could sustain. Today, credit card companies are cutting back consumer credit and raising fees to save themselves from financial ruin. The economic crisis whose recovery requires more spending on goods and services (that provide jobs) is thus worsened by credit card companies whose actions reduce spending. Meanwhile, real wages are not rising to once again relieve workers of the need to borrow. So unemployment worsens, foreclosures grow, and the underlying causes of the economic crisis go unattended.” (Richard Wolff, professor emeritus of economics at the University of Massachusetts, Amherst)

I came across this quote this morning and thought that it sums up perfectly the American Consumer’s situation, how we got here, why we got here, and how we’re going to get out of this financial mess. Credit card debt has always been the root of the problem, along with fraudulent companies lending thousands to consumers who shouldn’t have qualified in the first place. Credit card debt has gotten us to where we are, and, unfortunately, it is the spending on ‘goods and services’ that will get us out of this mess, spending that consumers are still not able to do.

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