Comments for Debt Relief Reviews

Comment on Should the government bailout everyone with credit card debt? by J O

J O — Sun, 21 Feb 2010 22:44:36 +0000

The short answer is NO!

The long answer is that the government wouldn’t be bailing out the people, the government would be bailing out businesses. However, Americans must learn to live on less than they make, and start saving instead of spending. Anyone with any economic sense understands that at some point the credit runs out if you consistently follow a pattern of spending more than you make. It will eventually catch up to you and you will either have to stop spending and pay off your balances, or you will have to file bankruptcy.

Save me all the speeches about people need credit to live. There is hardly a sole in this country that doesn’t carry a cell phone, and I can’t tell you at the number of times I have seen people paying for their food with food stamps and then laying down a $100 bill to buy their cigarettes and beer. The American population is spoiled and needs to wake up to the reality of economics. Everything comes at a price and nothing is for free, especially when the government is “paying for it”

Back to bankruptcy, who do you think pays for bankruptcy? Not the banks, but the consumer in the form of higher interest rates and fees. Businesses will make money and they always pass on higher costs to the consumer, otherwise they wouldn’t be businesses they would instead be FAILED businesses. So when I say no, I mean no to the banks because it is their eagerness to hand out credit cards like candy that has brought us to this point. Failed businesses are as important to the economy as successful ones. Businesses that fail due to poor management and practices should be held responsible for their actions.

So for all you who think this is a good idea so you can get a piece of the $700B bailout, just remember everything comes at a price and the only way to pay the price is to take money out of your pocket in the form of additional taxes. So stop looking to the government to solve your problems, the government has proven that any problem they solve costs 10X what it would cost in the private sector and on top of that it usually creates 10 more problems to be solved. Just look at the collapse of the housing market.

Comment on Should the government bailout everyone with credit card debt? by scrooge

scrooge — Thu, 18 Feb 2010 02:15:35 +0000

even they haven’t got enough money to do that.

Comment on The Gov is in Debt, Yet They Continue to Bailout Wall Street. Who is Going to Bail Out The US Government? by Smoot Hawley

Smoot Hawley — Mon, 15 Feb 2010 23:21:55 +0000

China will. That’s where we are getting the bailout money from.

Comment on Should the government bailout everyone with credit card debt? by sonicprowler25

sonicprowler25 — Mon, 15 Feb 2010 08:43:21 +0000

No. Because everybody with credit card debt probably had a spending problem, considering that most of everyone with a credit card is probably between the ages of 18-30.

Comment on What is a good debt consolidation companythat will negotiate your debts down and then give you a loan? by heybulldog

heybulldog — Sun, 14 Feb 2010 19:50:26 +0000

It doesn’t work that way. Debt consolidation companies are a joke.
What they do is not pay your creditors for months and then try and settle for less. No special skills. They just don’t pay. It will trash your credit.
Your creditors do not have to deal with these people. It’s your debt.
Also, if they don’t pay your creditors. You, and you alone are still responsible for the debt. Your creditors will sue you and not the company you hired.

Comment on What’s the best strategy to negotiate credit card debt directly with the bank? by Richard 78

Richard 78 — Sun, 14 Feb 2010 13:11:04 +0000

uhm, try to threaten them
=] not literally!
tell them you have a competitor willing to offer a lower interest rate,
and less fees, usually you can make something up
and the bank will match or beat it!

i know a family member did this, but she actually had a better credit offer. when she threaten to move the balance and pay the card off, they treated her like royalty, and gave her the rate she wanted =]

Comment on Has anybody ever used one of those companies that negotiate your debt to a smaller one? by Dave 007

Dave 007 — Sat, 13 Feb 2010 15:16:20 +0000

Debt settlement definitely works!!! As there are many companies out there that offer debt negotiation services, it is recommended that you do some research about the company that will be representing you. All companies have different ways of doing debt settlement and the process vary from company to company.

I know that settlements can be reached for the consumer to save about 50% – 70% of the overall debt and sometimes you can even save more. I think it is a lot more beneficial to you to let the companies that offer this service do it for you, as they can maximize the savings and they have the experience to do this kind of thing, they also know the paperwork involved and they will handle the creditors for you to take some stress off your shoulder.

Some Debt Settlement Companies will ask you to send them monthly funds, and some others let you have control of the funds by saving them yourself and so that you feel comfortable and you know where your money is at all times. These funds are the key to success in a debt settlement program, because the more you save, the faster the debt will be eliminated.

Here are some things to look for in a Debt Settlement Company:

* Better Business Bureau (BBB) rating.

* The Association of Settlement Companies (TASC)

* Proper Chamber of Commerce

* Charge for their Services

Commission based on the savings: It is an incentive and they will negotiate a lot harder since they earn more when they save you more.

Monthly Flat Fee: They already have your money so there is not a strong incentive to save you as much as possible

I hope this information has been of great help and just to help you simplify your search, I recommend you to check out CuraDebt, as far as I know, they are the best Debt Settlement Company out there and they meet all the requirements I mentioned above.

Good Luck!

Comment on What is a good debt consolidation companythat will negotiate your debts down and then give you a loan? by Dalebert

Dalebert — Sat, 13 Feb 2010 14:39:53 +0000

I, too, have felt the “pinch” of debt exceeding income. I searched the Internet for a reputable Debt Consolidation solution. After weighing the options of several, I settled on Credit Exchange. Their representatives had a genuine empathy with my situation, and came up with an excellent plan for me. This is not a loan. They negotiate with creditors to reduce the amount of debt owed. My monthly payments were reduced by 60+%.

You will also be represented by a law firm that specializes in these matters. I have been in this program for one year now, and it has made a dramatic change in my budget woes.

The phone number is 1-800-810-3390. Have the following information ready when you call:
Total debt
Total monthly income
Total monthly expenses

Try it. It may just be well worth it.

Comment on I want to pay off a debt. And negotiate a lower payment. However, I been told that the difference can be cha by Celeste

Celeste — Sat, 13 Feb 2010 02:39:46 +0000

You should report the difference from a canceled/forgiven debt, regardless of the amount, on the “Other Income” line of your 1040 form.
If the creditor ‘forgives’ $600 or more off the balance due, they must send you and the IRS a copy of a 1099C. This amount is included as income on your taxes.
(See IRS Pub. 17, Chpt. 12)
However, there are exceptions to this rule in which you might not have to claim a forgiven debt as income.
(See IRS Pub. 908)

Comment on Should the government bailout everyone with credit card debt? by Ted E

Ted E — Fri, 12 Feb 2010 23:20:33 +0000

That seems to be the fad now, bail out everyone…. oh wait,, but not the consumer