Debt Free League

Debt Cures They Don’t Want You to Know ?

Posted by: debtfreeleague1 on: March 9, 2009

Does “Debt Cures They Don’t Want You to Know” Provide the

Right Debt Relief Prescription, or Just Marginal Advice?

Some people who are in serious debt sometimes make the fatal mistake of relying on irresponsible self-help books to get answers to their debt cures. One of these books is Debt Cures They Don’t Want You to Know by Kevin Trudeau.

Lately, millions of people have been exposed to the above book through the persuasive author’s TV infomercials professing “you can fight back the financial industry and apply his solutions to your debt problems, and put more money in your pockets.”  However, the only money going into anybody’s pocket seems to be the profits streaming into Kevin Trudeau’s coffers from the book sales he makes amongst other things. 

If you’re in debt, the infomercial will entice you to call a toll-free number or go online to order the $19.95 self-help book, plus $11.95 shipping and processing fee.  Also, if you don’t want to wait 2-3 weeks, to have the book shipped in 3-5 days, be prepared to pay a $9.95 rush delivery fee.  

If you order the book online, after entering your credit card information, you’ll be offered to add to your shopping cart, a “Savings2Go” coupon program that includes discounted purchases from retailers like Home Depot and Sears. Of course, it’s an additional cost, $14.95 a month!  

Then there’s a “Fast Track to Free Money” book with information on grants.  And a “Debt Kit Deluxe” suite of credit repair letters to send to creditors and credit bureaus to help you repair your credit.  But what does most of the above have to do with self-help information to a debt cure? Sounds more like a commercial ploy to sucker distressed debtors who don’t know any better to get into MORE debt!  

It also appears that the “#1 New York Times Best Selling Author” should have more appropriately entitled the book, “Debt Schemes That They Don’t Want You to Know.” Although the 316-page book sensationally exposes credit card company schemes, it does little to educate people about some of the most vital debt cures. 

Only two pages of the book (208-209) are dedicated to the topic of “debt settlement,” which short of bankruptcy is a super aggressive debt cure for eliminating not only credit card debt, but also medical debt and small business debt. But what do you expect from a guy who also sells books on questionable cancer cures?  

Here’s the lesson learned: “AUTHORS SELL BOOKS!”

If you need strong debt relief, instead of looking for a debt cure from a self-help book and getting exactly what you paid for, you should seek help from a debt management professional.  In seeking a good debt cure, web sources like Wikipedia (www.wikipedia.com)  can be much better resources than buying a $19.95 debt-help book. However, there is a free book at  www.debtfreeleague.com, which identifies and compares the pros and cons of various debt cures.

The book, SETTLE Credit Card, Medical & Business Debt for PENNIES on the Dollar © openly discusses how “debt settlement” is a potent debt cure that often prevails over the debt cures of debt consolidations and consumer credit counselors.

Besides being totally free, the truly informational book is a great resource that can help you if you have a serious financial hardship to avoid bankruptcy and quickly eliminate credit card debt, medical debt, and business debt.  

The book will also show you how to fight creditor harassment to stop collection calls, and will educate you about ways to handle your debt and get healthy credit.

For more information on the free online book, SETTLE Credit Card, Medical & Business Debt for PENNIES on the Dollar © go to www.debtfreeleague.com.

For more information on potential debt cures, call 1-800-213-9968 or visit www.DebtFreeLeague.com.

 

 

Debt Settlement Warning: Beware of “Low-Ball” Debt Settlement Companies

Posted by: debtfreeleague1 on: January 27, 2009

When searching for a quality debt settlement company, it is important that you find a reputable company that operates in the spirit of full disclosure, and doesn’t low ball. Especially in our unstable economy, far too many debt settlement companies are pulling the wool over the eyes of many unsuspecting consumers. One of their false claims includes guaranteeing to settle a debt for a specific reduced amount.

The most scandalous debt settlement companies also low ball estimates, quoting in the “30-40%” range to attract people with superficially low monthly installments. More recently, our eyebrows were raised by a person with a $76,000 debt who was grossly misquoted by a law firm that also specializes in debt settlement. The fooled individual almost signed up with this law firm because they offered a lower monthly payment. But upon further review, we found ALL OF THE FOLLOWING loopholes in this competitor’s written quote:

Not only was their quote about $8,000 higher in fees than ours, but their monthly payments included a “Good Faith Down Payment” fee. Unbelievably, the fee which was over $5,000 had to paid in the first four months. Thus, it would take FIVE months for this poor guy to start saving the first penny toward building up settlement funds.

It gets much worse! The law firm also charged a fee of 25% of the savings based on an estimated settlement average of 40%. But despite this foreseeable projection, the company’s estimate was far UNREALISTIC! Here’s why. On the average, a debt settlement client has six accounts; each being settled one at a time, roughly in 6-8 months. Thus, until the remaining accounts are settled, the account balances continue accruing interest, late fees, and possible over-the-limit fees.

A problem with the common “low-ball” practice is that people assume they’re getting out of debt a lot sooner. Yet, because of the add-on of interest and fees to the debt balance, an estimated 36 month program could easily take 40 or more months to complete.

A second problem is that people that join these types of companies often end up paying a lot more in fees. For example, if you enrolled an account balance of $7,000, which ten months later increases to $7,700 (due to interest and fees), your fees would be based on the new $7,700 balance, not on the enrolled account balance! This explains why the settlement law firm’s monthly payments were lower than ours.

In contrast, because our company, Debt Free League factors in the time it would take for each debt to be physically settled, we estimate our settlements at 50% and adjust the monthly payments accordingly to include the future accrual of interest and fees. The other great news is that this allows our clients to save more each month. And by saving more, you can settle your debt much faster and potentially waive unnecessary interest and fees. Because of this, while most people experience their first settlement in 8 to 10 months, many of our clients have pleasantly seen their first settlements in only five to six months!

Again, countering the uncertainty of just how much a person would actually end up paying to a debt settlment company, such as this law firm, we base our fee on a flat amount of the actual enrolled account balance. Thus, if you enrolled in our program a $5,000 Bank of America account that eventually grew to a $5,500 balance at the point it was settled, you wouldn’t need to pay us additional fees. Instead, your fee would be based on the $7,000 account balance that you originally enrolled.

In closing if debt settlement company’s low monthly payment sounds too good to be true, chances are that in the long run, you’ll pay a whole lot more than you thought!

To view some examples of actual Debt Free League client settlements, go to: http://www.debtfreeleague.com/settlement_examples.html

Debt Free League
http://www.debtfreeleague.com/
1-800-213-9968

 

Three Common Tips on Debt Settlement

Posted by: debtfreeleague1 on: January 6, 2009

The debt settlement tips you’re about to learn are provided to you courtesy of the free debt elimination book and the Internet’s source on Debt Settlement: SETTLE Personal, Medical & Business Debt for PENNIES on the Dollar ©. Victor N. Chevalier, the author is a debt settlement industry expert who has written two books on the timely topic of debt settlement a.k.a. “debt negotiation.”

TIP #1: Learn About Your Debt

Most people are fairly ignorant on the causes of their debts. But if you plan to effectively get out of debt and stay out of it, it is essential knowing each cause. “Fear of the unknown” or just plain ignorance has paralyzed many debtors into doing “nothing” about their financial problems and letting their debts spiral out of control. But learning about the central cause of your debt and how the debt settlement (debt negotiation) process can help you is empowering information.

In Chapter 1 of SETTLE Personal, Medical & Business Debt for PENNIES on the Dollar © you will learn about the history of your debt and various hidden financial industry schemes that are designed to perpetuate and heighten your debt load. You will also learn how debt settlement rivals often-inferior debt elimination options, such as bankruptcy and debt consolidation.

Additionally, the book provides valuable tips to fight the causes of your debt and achieve success dealing with creditors and debt collectors. You will also learn how debt settlement is very favorable for people that are self-employed and in certain states.

Compared to bankruptcy and credit counseling and depending on your financial hardship, you will also learn how debt settlement can be a better solution to wipe out debt and restore your credit.

TIP #2: Let a Professional Do the Talking

A common mistake people make is to talk directly with irate creditors and abusive debt collectors. However, this generally antagonizes communication and complicates the debt negotiation process.
Creditors and debt collectors are only interested in getting their money! By the time people enroll in a debt settlement program, generally their accounts already escalated into the “collection” stage and the collection calls coming from a collection agency are getting nastier. Most debt collectors are subject to the pressures of working on a “commission basis.” As a result, many resort to unscrupulous and abusive countless collection tactics to scare uninformed debtors into paying them.

Many times, debt collectors compromise a debtor’s rights by violating legal collection requirements under the Fair Debt Collection Practices Act (FDCPA). Debt collectors are known to excessively make about false threats and even lie by saying they do not deal with debt settlement companies.

In closing, to get utmost debt settlement success, it is best to cease all communication with creditors and debt collectors and ensure that a professional debt negotiator does all the talking.

TIP #3: Get The Proof

Like in any industry, there are both good and bad debt settlement companies. But doing your homework will help you avoid the pitfalls with a bad debt settlement company.

Some debt settlement companies make undeliverable promises or guarantees. The Federal trade Commission has fined debt settlement companies for “guaranteeing to settle a debtor’s unsecured debt for a specific percentage.” The law legally bars a debt settlement company from guaranteeing that a debtor that a creditor will accept partial payment of a legitimate debt.

Legitimate debt settlement companies estimate debt settlement percentages depending on actual settlement histories with creditors. Their debt settlement averages are generally estimated at about 50% of the debt balance at point of settlement. Plus the debt settlement percentages with any given creditor can change at any time due changes in a creditor’s debt collection strategy.

To find a good debt settlement company, ask for proof of actual debt settlements with some of your creditors. In the last quarter of 2008, our debt settlement company, Debt Free League maintained a monthly debt settlement average between 38 to 43%! Our debt negotiators are experienced not only in negotiating the settlement of credit card debt, but also of medical and business debt.

At our website: http://www.debtfreeleague.com/settlement_examples.html, you can view various examples of debt settlements that our negotiators achieved for some of our clients with some of the top creditors, collection agencies, and collection attorneys in the nation.

For more information, call 1-800-213-9968 or visit DEBTFREELEAGUE.COM

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Debt Free League Is NOT as Stringent as Consumer Credit Counseling Programs

Posted by: debtfreeleague1 on: December 20, 2008

Our Debt Liquidation Program is much friendlier than the stringent qualification requirements of a consumer credit counseling program. As a candidate for our program you only need to have a minimum unsecured debt of $5,000. You can also include in the program a variety of unsecured personal, medical, and business debts including that are normally excluded through debt consolidations.

Some of these accounts include:

● Credit cards
● Gas and Department store cards
● Finance company accounts
● Bank signature loans
● Medical and dental bills
● Collection accounts
● Post-property foreclosure deficiency balances
● Post-vehicle repossession deficiency balances
● Judgments
● Business debt

In summary, our Debt Liquidation Program, which is available in most 50 states, is a superior choice over consumer credit counseling debt consolidations. It clearly beats debt consolidations by serving a wide range of both consumer and business debt elimination needs.

For more information, call 1-800-213-9968 or visit DEBTFREELEAGUE.COM.

Debt Settlement Beats Debt Consolidations When Terminating Medical Debts

Posted by: debtfreeleague1 on: December 19, 2008

Medical debt destroys many families and causes almost half of all yearly personal bankruptcy filings. Unfortunately, the debt consolidations offered through consumer credit counseling can not relief you of medical debt. Oftentimes, people that are burdened by medical debt are clueless in finding a practical solution.

Demonstrating our superiority to debt consolidations, our debt settlement, Debt Liquidation Program is a proven effective solution in eliminating medical debt. This powerful debt management solution has helped uninsured and underinsured middle-class families who suffered uneventful illnesses and accidents to avoid bankruptcy and effectively settle extensive medical bills.

Employing a sound debt negotiation strategy, our personal and business debt negotiators have effectively settled many types of medical debts, including hospital, doctor, and dental bills, past due medical accounts, medical collection and charge off accounts, disputed medical bills, and medical judgments.

For more information, call 1-800-213-9968 or visit DEBTFREELEAGUE.COM.

Debt Settlement Tops Debt Consolidations In Eliminating Business Debts

Posted by: debtfreeleague1 on: December 18, 2008

A key difference between our Debt Liquidation Program and debt consolidations is that unlike consumer credit counselors, we our program can help you get relief from your small business debt. “What’s particularly unique about our program is that we can help a small business owner avoid the stigma of a bankruptcy”, declares Vincent Cruciani, one of Debt Free League’s head Debt Negotiators. “It’s an honeor to help America’s backbone, the small businesses, to negotiate their troubling business debts and resolve their cash flow problems.” 

Our Debt Liquidation Program can help a business that is buried in business debt to avoid the time and expense of fighting business lawsuits, prevent the seizure of business assets, and satisfy vendor judgments and business property liens.

The  program also challenges consumer credit counseling debt consolidations going far beyond the mediocre benefit of an interest rate reduction. Besides settling business debts at a savings of 50% or better, we can help small business owners to restructure an affordable debt repayment plan that allows them to quickly eliminate many types of business debt.

Our expert debt negotiators have helped business owners negotiate settlements on credit cards, business loans, past-due business accounts, trade disputes, and breach of contract and lease disputes.

For more information, call 1-800-213-9968 or visit DEBTFREELEAGUE.COM.

Stronger Than Debt Consolidations to Relieve You of Your Debts

Posted by: debtfreeleague1 on: December 16, 2008

FACT:  Credit card debt alone, now to the tune of $1.5 trillion, encompasses 65% of the rising $2.3-trillion consumer debt epidemic!

If you’re one of the 144 million Americans afflicted by credit card debt and you’re enduring a financial hardship, like for most people, debt consolidations through a consumer credit counseling debt management plan (DMP) may be your best choice. But regrettably, the statistics warn that debt consolidations frequently give medicore relief to 75 percent of all Americans who are only three paychecks away from bankruptcy.

According to a Consumer Reports survey based on the article, “Pushed off the Financial Cliff”, debt consolidations through consumer credit counseling (CCC) debt management plans have a 79% dropout rate!  It appears that debt consolidations barely helped many of these dropouts.

In contrast to inefficient debt consolidations, the Debt Free League Debt Liquidation Program can go the extra mile by slashing as much as 70% from your total debt.  We reduce down both the debt interest rate and  principal! balance.

Compared to debt consolidations offered through consumer credit counseling debt management plans, which can last 5-7 years and cause people to repay 1½ to two times their original debts, our Debt Liquidation Program allows many of our clients to slash their debts by half, allowing them to become debt-free within 36 months or even less time.

For more information, call 1-800-213-9968 or visit DEBTFREELEAGUE.COM.

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How Our Debt Settlements Are Superior to Debt Consolidations

Posted by: debtfreeleague1 on: December 16, 2008

If you’re looking to overcome a financial crisis caused by a divorce, unemployment, or too much medical debt, the answer may be “debt consolidations” via consumer credit counseling. But despite the rising popularity of debt consolidations, they’re basically band-aid treatments.  Debt consolidations generally reduce debt interest rates by a 6% average!

Many people who have done consumer credit counseling debt consolidations are appalled to see midway in consolidating their debts, their debt loads barely reduced.  Not only did the debt consolidations barely reduce their debt interest rates, but they also saw almost no reduction on their debt principal.

Pursuing debt consolidations via a debt consolidation loan also can present a  number of challenges. First of all, for the lender to grant you the loan for debt consolidations, you must own property.  Secondly, you must pledge the equity on your property as collateral in exchange for the loan. But the problem is that if you default on any loan payment, the lender could easily foreclose on your property.

Some debt consolidation loans also have variable interest rates, as in the case of rampant sub-prime loans.  Because of the loan’s rising interest rates, people who have taken out these loans for debt consolidations have been forced into bankruptcy and foreclosure.  Instead of getting you out of debt, this form of debt consolidations can dig you deeper in the hole!

Superior to debt consolidations, our Debt Liquidation Program can slash both the interest and principal on your debt by as much as 70%.  We also help you to stop collection calls. Short of bankruptcy, our alternative to debt consolidations can get you the fastest solution to reach financial freedom.  You can be debt-free in 36 months or less!

Why consolidate when you can avoid bankruptcy, creditor lawsuits, creditor judgments, a lien, or a wage garnishment simply by settling your debt?  Plus debt consolidations can not resolve some credit card collection accounts, or medical debts and business debts.  But our Debt Liquidation Program can settle all of these types of accounts for PENNIES on the dollar!

For more information, call 1-800-213-9968 or visit DEBTFREELEAGUE.COM.

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