Job creation is the new and improved goal of this legislation, and those struggling with debt should pay attention. Recently, President Obama has been touring the nation drumming up support for his new stimulus plan, although no one is actually calling it that. With the unemployment rate still at 10 percent, the president is now taking steps to help the economy recover quicker.

Not only is the president looking to pump more money into the economy to boost job creation in markets like infrastructure and small business, he is offering incentives and tax credits to those companies who start hiring. It’s great news for all of those struggling with debt and looking for a lifeline.

Of course, in any debate there are two sides. Many would hope that the president would take a more direct route that would truly aid failing economies like Michigan and Philadelphia. Michigan unemployment numbers stand at an amazing 15 percent right now, while Philadelphia stands at just over 11 percent. These are incredible numbers that many Americans fear will not change with more stimulus money.

Even when it seems like things might be turning around, when unemployment numbers showed a slight dip over the last month, American consumers are still extremely skeptical that things are turning around. We are still breaking records with bankruptcy filings, credit debt is still through the roof, and in many place the unemployment numbers are still extremely high.

President Obama and the Democrats plan to unveil two bills in the upcoming weeks to help stimulate the economy, help those struggling with debt, and help those who are still having trouble finding work.

The first would top $100 billion and would extend unemployment insurance, temporary food-stamp payment increases and subsidies for health-care purchases by the unemployed. That would likely be attached to a spending bill in coming weeks. The second, a jobs bill estimated at about $70 billion, would contain many of Mr. Obama’s initiatives and likely wouldn’t reach his desk until early next year. (Wall Street Journal)

There are many hurdles to overcome in trying to convince congress to approve of these two measures, but the president is touring the nation to assure struggling Americans that this is the way to get jobs moving again. He seems to believe that with this stimulus boost, the slowly recovering job market will get a much needed boost and will recovery much quicker.

Are you one of the millions who is struggling with debt? Maybe we can help you out! Give us a call today to see what we can do for you!1-877-386-3603

Factory orders are beginning to rise again, which means factories will stop laying off and might even start hiring again. For the hard-working American, this is indeed a welcome sign. Americans are falling into debt and filing for bankruptcy faster than they have been in years, and it’s not only taking a toll on families, it taking a toll on the entire economy. Now that things are beginning to turn around, it’s possible that people will begin to turn around the financial situations as well.

Why is this so important? Why is it that everywhere you look online someone or some news source is praising this new economic upturn? Well, because it’s the first sign that perhaps the economic stimulus is working, or that people are becoming more financially responsible.

I mean, how did we get into this mess in the first place? Well, financial irresponsibility got us here. It wasn’t just stock market greed, or bad housing loans, it was the underlining ignorance of finances. Credit debt was something that Americans weren’t worried about, because that was a factor they’d think about in the future.

In the future, when the money would continue to flow in and life would be wonderful. In the future, where financial strain wasn’t even considered to be an option. But, alas, the future came and the money did not. That home loan you got with an adjustable rate, the one that was so affordable for the first three years and then shot up to 15 percent after that. You know the one, where you thought you’d have the money to cover it in the future.

And those credit card bills just kept piling up, but you were going to pay them off in the future, right? Well, the future has come and gone, and we have learned the error of our ways. It is for this reason that the economy went south, and for this reason that the economy is turning around. Americans are simply becoming more financially responsible, and that is great news for anyone who is looking to get out of debt.

So, as unemployment numbers began to drop below 10 percent, and you get back into the job market and back to bringing in a decent paycheck, it’s important to remember the lessons that we’ve learned along this economic journey. Now is the time to get out of debt. Now, while we are licking our wounds and starting over, it’s time to start fresh.

For more information on debt settlement solutions for you and your family, give us a call today1-877-386-3603

Credit debt is a huge problem facing this country. The typical American consumer these days has struggled with credit debt derived from medical bills, foreclosures, job loss, and pay cuts. While unemployment numbers skyrocket, so do bankruptcy percentages and foreclosures. Sure, the economy might be making a sluggish turn-around, but where does that leave you?

It probably leaves you wondering how you’re going to catch up and get out of debt. So, you’ve done some research online and looked at the different ways of getting out of debt. You’ve checked out debt loans and debt consolidation, debt counseling and debt settlement. How do you make your decision and chose the debt recovery path that’s right for you? It’s easy, chose the path and the company that is most affordable with the most reliability.

Let’s talk debt consolidation. So many will tell you that it’s the right way to get out of debt, but if you look a little farther you’ll see that they are the ones who stand to make the most off of you. Debt consolidation and debt consolidation loans involve ‘consolidating’ your debt problem into one giant, heaping mass of regrets. You’ll toss everything together into one interest rate, one payment, and one easy solution, right? Not so much.

Does it make sense to take out a loan, another loan and another line of credit, to get out of debt? Let’s take Susan, for example. Susan, who is completely fictional, was in credit debt of up to $50,000. This debt was spread across 5 credit cards, and she was drowning in the payments. Susan was only paying the minimum on each card, and was never going to get out of debt this way. So, Susan did a little research and saw that the internet was overflowing with debt consolidation information. She made her choice and made the call.

Her debt consolidation agent told her that she could take out a debt consolidation loan. The interest rate seemed high, and she wondered how she would make the payments, but her debt consolidation agent assured her that she’d only have one payment a month. No more of this struggling to keep up with 5 credit cards, because everything was going to be solved by consolidating into one loan.

It sounded too good to be true. In fact, she couldn’t afford to make the payments on the consolidation loan. She also couldn’t afford to make the monthly fees that were piling up from her debt consolidation company. No one had taken the time to show Susan how to spend responsibly, and she continued to use her credit while continuing to try and pay off her consolidation loan. She never learned financial responsibility, and fell deeper into debt with each passing month.

This is the reality for those who chose the path of debt consolidation. Many times, consumers who take out debt consolidation loans have no knowledge of how to change their spending habits and make those outrageous payments each month.
Let’s turn the talk to debt settlement. Choosing this path, and a reliable debt settlement company, you can feel assured that things will change. Not only will you have a debt settlement agent to speak to at every turn, you’ll have a debt negotiator who will work diligently to get you a decent settlement. Your debt settlement agent will help you to make the right decisions to change your spending habits, and since you won’t have any monthly payments it will be easy for you to become more financially responsible.

But, how do you chose the right debt settlement industry? Easy, all you have to do is look for those who are members of ACCORD or USOBA, for this means that they are required to adhere to strict guidelines that protect you, the consumer. Another tell-tale sign that you’re choosing the right debt settlement company is whether or not they charge any upfront fees. Many reliable debt settlement companies charge absolutely nothing upfront, and only require you to make a monthly deposit into your savings account for the final settlement.

I tell you what, if Susan had chosen debt settlement over debt consolidation, she would not have had to pay outrageous upfront fees, would not have been hit with hidden costs, and she would have been able to change her spending habits and get out of debt within a few short years. Debt settlement truly is the best option.

Want to know more about debt settlement? Give us a call today! 1-877-386-3603

The amount of consumers who plan on using their credit card this year to pay for holiday gifts dropped a whole 10%, while just 4% plan on using personal checks. Cash is in this season, and if the credit card companies have learned anything about consumer interests it’s that they don’t like high interest rates and outrageous fees. Most just aren’t going to take the chance of getting into debt this holiday season.

We’ve mentioned it before, but at the rate the credit card companies are raising interest rates and penalty fees it’s no wonder that everyone is using cash this year. While the Credit Card Act is just around the corner, and will affect every credit card holder in America, it will also affect every gift card holder as well. This is great news for those holiday shoppers who can never find anything better than a gift card.

Under the legislation proposed by Sen. Charles Schumer (D-NY) gift card issuers will be required to better disclose gift card fees as well as more restrictions on expiration dates, which the Fed says will not go into effect until next August, but Schumer is pushing for an earlier enactment in time for the holiday shopping period. (axcessnews.com)

Gift cards have become a popular holiday shopping gift idea though many issuers have terms and conditions which very widely depending on who issues the card.   Sen. Schumer says it’s nearly predatory and like stricter credit card disclosure, gift cards need similar controls. (axcessnews.com)

Keep your eye out for this new legislation to be implemented soon, yet another point for the consumers and a loss for the creditors. And remember, if you’re in need of some debt help, give us a call. 1-877-386-3603

Credit card rate hikes are hitting all of us. It doesn’t matter if your credit score is in the 500 of nearly 800, your being affected by this impending Credit Card Act of 2009 that is making the credit card companies scared to death.  Credit card companies are raising credit card interest rates like you would not believe, unless you are a victim of this latest trend. It’s a trend that’s hurting consumers who are already struggling with debt and unemployment, while the credit card companies CEO’s are “struggling” to keep their million dollar incomes.

The Credit Card Act of 2009 that was signed few months back by President Obama wasn’t supposed to go into effect until 2010, but with the amazing rate at which credit card companies are raising rates to beat the imposing Act, congress is deciding whether to enforce the new rules immediately.

According to the New York Times, the immediate starting date vote has passed through the House, and will be voted upon in the Senate in the coming days. When it passes the Senate, credit card companies will no longer be able to instantly raise your rates, they will have to give you 45 days notice and options for repayment.

Rate hikes are happening across the board with every credit card company. They are all racing to beat the Credit Card Act deadline, all racing to make an extra buck, and American consumers are suffering. Whether your credit is nearly 800, or below 500, you are getting a rate increase and probably a limit decrease without any warning. On top of those interest hikes and limit decreases, credit card companies are charging new and outrageous fees for everything under the sun, hoping to make up time before the Credit Card Act gets enforced.

A study by the Pew Charitable Trusts, released late last month, concluded that the 12 largest banks, issuing more than 80 percent of the credit cards, were continuing to use practices that the Fed concluded were “unfair or deceptive” and that in many instances had been outlawed by Congress. – New York Times

The reason for all of these increases is the amount of unclaimed and unpaid debt floating around out there. Well, that’s according to the credit card companies. It’s true that the percentage of credit card debt that the credit card companies have written off has soared to 9.6%, but every consumer is being punished and not just the ones not making the payments.

“We sell credit; we don’t sell sweaters,” said Kenneth J. Clayton, senior vice president for card policy at the American Bankers Association. “The only way to manage your return is through the price of the product or the availability.” – New York Times

Credit card companies are racing to create new credit card programs that will adhere to the new credit card rules. Some, who are trying to win back consumer’s trust, are creating cards with no rewards and one interest rate across the board. Others have stopped charging fees for exceeding credit limits, while still others are offering options for paying down debt more quickly.

The days of walking into a store and just throwing something on the credit card are probably over due to the higher interest rates, lower credit limits, and the tough time you’ll have even trying to get a credit card in the first place. With the new Credit Card Act of 2009 comes stricter rules for banks and thus the banks are going to enforce even stricter guidelines for credit approval. 1-877-386-3603

If you need any help getting out of debt, don’t hesitate to give us a call at 1-866-332-9312!

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.

According to the Consumer Federation of America (and the New York Times), debt relief companies have a horrible tendency to charge upfront fees “without delivering their promised results or don’t disclose what effect the services may have on credit scores or debt collector calls, misleading consumers and leaving them worse off.”

Word to the wise about debt settlement companies; if they make big promises in the beginning just to get you enrolled, it’s probably a bad company looking to make a buck. In this economy, fraudulent debt relief companies prey on the weak, making empty promises and offering a false sense of hope.

In the recent NYTimes article, they go on to mention the proposed debt industry changes that would require complete transparency and eliminate the practice of charging upfront fees. The ironic part of this entire discussion is the ACCORD certified members, like us, have been doing that for some time now.

Susan Grant, director of consumer protection at the Consumer Federation of America, suggests when looking for a debt relief solution, look for a company that doesn’t charge upfront fees. Ms. Grant suggested looking for firms that “charge based on success” or just charge a small fee.

Any debt relief company that is a member of ACCORD follows The Simple Plan, charges no upfront fees, is completely transparent, offers incredible customer service, and, in the end, charges based upon success. The final cost is based upon the amount that the client is saved, not the amount of debt they initially had. It is a template that should be followed by every debt relief company, though it has yet to catch on.

Just remember, it’s simple, like The Simple Plan.  For more information about The Simple Plan, give us a call at 1-877-386-3603 today!

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.

While the national numbers like spending and domestic product are on the rise, it’s the local numbers that matter to consumers. I read a quote today from Vice President Biden, which he got from his grandfather, that summed it all up:

“When the guy in Minooka’s out of work, it’s an economic slowdown. When your brother-in-law’s out of work, it’s a recession. When you’re out of work, it’s a depression.”

He’s so right, and with the unemployment rate still so high, consumer confidence is going to continue to be low until neighbors and family members find work. The problem there, most experts are saying, is that the job gains will not come as quickly and dramatically as the job losses came, which basically means that we still have a long way to go.

With consumer spending going up slightly, so is the amount consumers are putting on their credit cards. Consumer debt is still extremely high, and, while consumers are learning to budget and pay bills on time better than ever, with the holiday season quickly approaching it’ll be interesting to see where the credit debt numbers go.

As for consumer bankruptcies, while the economy ‘is turning around,’ bankruptcy numbers are sky-rocketing. The latest numbers show that in October bankruptcy numbers rose to 9%, right on target for the highest annual rate in four years.

Experts are saying that the unemployment rate is really starting to take a toll in consumers, causing many of them to go through their savings and retirement funds just to get by. In the end, they’re left with their credit cards, which leads to inevitable credit card debt and eventually bankruptcy. That cycle has hit hard in the past month, and will continue to hit hard through the holiday season.

Need some help with your credit card debt? We’ve got your debt solutions! Give us a call at 1-877-386-3603!

A few days ago, Michigan Senator Carl Levin has brought the measure back to life after witnessing firsthand what unlawful and overly-aggressive debt collectors have done to his state. According to Levin, consumers are struggling now more than ever with credit card debt, and yet the debt collectors have been getting increasingly aggressive at a time when consumers can barely keep food on the table.

“The Federal Trade Commission receives more complaints about the debt collection industry than any other industry, logging in about 79,000 complaints on third-party debt collectors last year, which is almost 19 percent of all of the complaints it received. Ongoing abusive practices include trying to collect debt that isn’t owed or is beyond the statute of limitations, making harassing phone calls, threatening to make arrests that the debt collector has no authority to make, and collecting debt discharged in bankruptcy.”

While the Federal Trade Commission has begun cracking down on fraudulent debt collection agencies, Michigan does not feel it’s enough. Levin, and his colleagues, do not believe the Fair Debt Collections Practices Act is relevant anymore to our changing society. The act was written in 1977 when cell phones, email, and internet were non-existent. Things have changed, and those who are struggling with debt in Michigan are ready for the change to come soon.

Levin is suggesting and entire branch dedicated to consumer protection; the Consumer Financial Protection Agency, which will prosecute those debt collection agencies that do not follow the rules and keep consumers educated of their rights.

The debt collection industry is growing by leaps and bounds, and greedy, fraudulent minded businesses are doing whatever they can to leverage your debt for their financial gain. They are leaches who in 2003 purchased $57 million in debt from credit card companies. In 2006, that number grew to over $100 million purchased debt. It’s no wonder this industry is growing so rapidly.

ACCORD has begun a strong campaign, reaching out to legislators and lobbyists, working towards creating a program that would help consumers get out of debt for less. In effect, the program that they are lobbying for would charge consumers struggling with credit card debt no upfront fees. It’s going to change the industry, and by protecting the consumer, charging no upfront fees for debt settlement services, they are affectively taking the power away from the debt collectors.

For more information on getting out of debt for less, give us a call and ask about The Simple Plan. As an ACCORD member, we proudly offer this program. Call today! 1-877-386-3603

Farmers, Ranchers, and Credit Card Debt

The plight that farmers and ranchers in our country face is a devastating one, especially during a recession. Hard work and family land just doesn’t pay off like it used to, and farmers are plummeting into debt. While congress argues over health reform and the ‘economy turning around,’ our farmers and ranchers are delving deeper into debt.

According to HealthReform.gov, which has recently taken on the issue of rural America’s healthcare disparities, one in five hard-working farmers, ranchers, and rural Americans have medical debt that they cannot afford to pay-off. The problem with that statement is that all of these families took out second mortgages on their homes, perhaps lost their homes and land, and maxed out their credit cards to stay out of debt.

While certain illnesses such as heart disease and diabetes are more common among rural Americans, they are not making enough to even afford a routine doctor’s check-up, and are using their credit cards more and more just to get by.

Farmers and ranchers are falling under the radar, and it’s about time that something was done about it. With My Debt Solutions, America’s hardest working families can get a break from credit card debt. We offer The Simple Plan, which requires absolutely no upfront fees. In this economy, a debt settlement program like this just doesn’t exist. We will work to get you out of debt for less.

Whether  you have maxed out your credit cards due to medical debt, or just to keep your family land and food on the tables, we understand and can offer you some simple debt solutions. Don’t hesitate to call us at 1-877-386-3603

First Time Home Buyer Tax Credit Extension

With talks in the works to extend the tax credit, congress is also discussing whether or not to change the credit to include all home buyers, not just first time home buyers. Instead of the $75,000 income limit for the first time buyer credit, congress is discussing setting a $125,000 limit, which would allow for many consumers to take advantage of this stimulus.

The new deadline being discussed is April 30, 2010. We’ll keep you updated!

If you’re thinking of using your taxes to help dig yourself out of debt, give us a call first at 1-877-386-3603