My Online Debt Solutions

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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It’s that time of year again. It’s the time of year when you eat too much and spend more money than you have, and dipping into that credit card becomes all the more tempting. Of course we all want to get our friends and relatives the perfect gift to show them how much we care, but using the credit card should not be an option, especially if you’re already in debt or are recovering from financial strain.

As a consumer focused site, we like to help you out with some money saving tips for the holidays to keep you away from using those credit cards. This is the time of the year when putting the “holiday” credit cards in a box in the closet is probably your best option. Continue Reading

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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Read an interesting article today about the greedy, fraudulent companies out there just preying on the middle-class. It was a great article, until it got to the parts about debt settlement companies. Even though it is a topic discussed again and again, it never seems to settle. Once again, there are thousands of fraudulent debt settlement companies out there. We hear about them every single day, and how consumers paid hundreds and thousands of dollars in monthly fees while the debt settlement companies would literally sit on the money and not work to get them out of debt. But, and I say it again, not all debt settlement companies are like that.

ACCORD, the American Coalition of Companies Organized to Reduce Debt, is an organization that, much like USOBA, United States Organizations for Bankruptcy Alternatives, has set extremely strict guidelines in regards to debt settlement company membership. Any company that wishes to enroll and become credited by ACCORD must adhere to certain policies that truly make it impossible for the company to be fraudulent in any way. Continue Reading

“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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Debt Settlement Companies – Fraudulent Practices Getting Spanked in Illinois

Chicago has seen its share of disappointments in the past few days, with losing the Olympic bid and with the recent needless murder of a young man in the streets. Things have been rough for the Windy City, but at least someone is stepping up and making some changes.

The debt settlement industry has always been scrutinized for not upholding promises made to consumers who are already struggling. They have always been harassed by the Federal Trade Commission for taking advantage of those in financial strain. And for good reason. Many of these companies are extremely shady and want nothing more than to take your money and run. It seems to be common theme among debt settlement companies.

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Some new credit card numbers have been released from Credit Karma this month, reviewing the past few months of consumer credit debt history. Good news! We are slowly getting gout of debt!

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While the Credit Card Act 2009 was supposed to help consumers, many in Arizona are still feeling the pinch of greedy creditors. A disturbing account of credit card activities is chronicled today in the Arizona Republic, telling the stories of many Arizona credit card holders who are not feeling any positive effects from the Credit Card Act. In fact, their situations are actually getting worse.

Hit by fallout from the recession, housing slump and rising unemployment, many institutions have scaled back lending. Last week, the American Bankers Association reported record-high delinquencies in three consumer areas: home-equity loans, equity lines of credit and credit cards.(AZ Republic)

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After much discussion and financial stress, you’ve decided that it’s time to get some help getting out of debt. You are taking that first step towards financial freedom by realizing that you just can’t do it alone, and someone needs to give you a helping hand. So, now what? Where do you turn? How do you even begin to search for a reputable company that will help you out of debt without emptying your bank account and wallet.

Accredited and reputable companies are out there in the debt settlement industry, but, we won’t lie, they are hard to find. You have to know where to research, what questions to ask, and how to trust your instincts. It’s your debt, your hard earned income, and your decision. Let no one, no matter how salesly or how many promises they make, take away that gut feeling you might have about a company. There’s always time and always more companies that are willing to work with you. Remember, they are hurting just as much as you are in this rough economy. You have the upper-hand.

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Driving home the other day I noticed a billboard that made me laugh out loud. It read Recession 101: Interesting thing about recessions, they end. I thought it was a pretty clever way to get the attention of drivers who probably sit in traffic every day at the same time just to be able to afford to put food on the table. Things are rough right now, and we all can feel it. That’s why it’s important to save money when and where you can. If you want to avoid bankruptcy and all the debt that comes along with overspending your credit limit, start thinking about how to save.

It’s not as difficult as you might think. Saving money can be done, it’s just something that we’ve seemed to have forgotten over the years as we were gambling the stock market and buying new cars. Things are different now, and it’s time to teach our families, and possible re-teach ourselves, how to be financially responsible no matter what the economy looks like or how much you are making. Continue Reading