TopConsumerReviews.com
      July 21, 2018

Home  >  Debt Relief  >  Articles

Best

Debt Relief

  1. CuraDebt
  2. LendingTree
  3. CareOne
  4. LendingClub
  5. American Debt Enders
  6. Accredited
  7. OneMain Financial
  8. Savvy Money
  9. Franklin Debt Relief
  10. Debt Consolidation Care
  11. Fast Track Debt Relief

Your Information Is Secure
60+ Ways to Save Money Newsletter

Latest Reviews

Business Cards

Company Incorporation

Credit Repair Companies

Home Warranties

Meal Delivery

Medical Alert Systems

Mobility Scooters

Pet Insurance

Refrigerators

Whiskey Clubs

 

Related Articles

Benefits of Debt Settlement

Debt Consolidation vs Debt Settlement

Debt Relief vs Bankruptcy

Pitfalls of Declaring Bankruptcy

Reasons for Debt Consolidation

The Bankruptcy Process Explained

What Is Debt Consolidation?

What Is Debt Negotiation?

What Is Debt Settlement?

What To Do if You're In Debt

 

Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

What Is Debt Negotiation?

According to the United States Census Bureau, 69 percent of Americans are in debt by an average of $70,000.

The same report indicated that consumers with the greatest amount of growing debt were those in the age group of 35 to 45, with roughly $108,000 in debt. Those aged 45 to 55 were carrying $86,500 in debt and people aged 55 to 64 were saddled with $70,000 in debt.

So how do people get so far in debt in the first place?

All it takes is one job loss, one health crisis or one unexpected expense for the average American to become financially stressed. Once a personís credit is over-extended, it creates a vicious cycle of paying only the minimum balance and accruing penalties and fees until the original amount owed has tripled or worse.

If you are among the 69 percent of Americans who are carrying around more debt than you can reasonably pay off, then itís time to explore options for reducing the financial burden.

There are a plethora of companies which offer debt negotiation services. However, not all debt negotiators are created equal.

The concept behind debt negotiation is to convince creditors to reduce the total amount of money owed in lieu of a set fee. The set fee usually is required to be paid up front.

Sounds like a great idea, doesnít it?

Thereís only one problem Ė most for-profit debt negotiation companies are nothing more than crooks. They require hefty, upfront fees for their services, and then not only fail to contact your creditors on your behalf, but also will not put any of the money you gave them toward your owed debt.

So how do you know if youíre about to be taken by a company that has no real intention of helping you reduce your debt?

The Federal Trade Commission offers the following warning signs for identifying fraudulent debt negotiators:

  • They will promise they can reduce your debt to the point that youíre paying pennies on the dollar for what you actually owe
  • They will promise that some of your debt will be eliminated entirely
  • They lie and tell clients that unsecured creditors do not sue debtors for non-payment
  • They claim they can remove negative information from your credit report

Debt negotiators are not lying when they say they can negotiate with creditors on your behalf. However, what many fail to disclose to clients is that creditors are under no obligation to agree to a debt negotiation.

Debt negotiation can be a very effective tool for consumers looking to get out of an overwhelming debt situation. Finding a quality debt relief service is an important first step in the process.

Barbados, IMF progress on debt relief

Barbados and the IMF have progressed their talks over debt relief after the new administration invited executives from the multilateral to the island for negotiations and preliminary assessments. "The ...

Published:  Wed, 18 Jul 2018 14:28:00 GMT



Gov. Larry Hogan announces student debt-relief initiatives

Gov. Larry Hogan is announcing some initiatives aimed at making college more affordable and easing student debt. Hogan made the announcement Monday at the Universities at Shady Grove campus in Rockvil...

Published:  Mon, 16 Jul 2018 15:10:00 GMT



More Expenses Covered By Loans Explained By National Debt Relief

There are more and more consumers who are taking out loans for various reasons that is why National Debt Relief shares some of these loan needs. The article titled "How Loans Are Being Used To Cover M...

Published:  Sun, 15 Jul 2018 10:05:00 GMT



Governor Hogan announces affordable college and student debt relief initiatives

MARYLAND - (AP) - Gov. Larry Hogan is announcing some initiatives aimed at making college more affordable and easing student debt. Hogan made the announcement Monday at the Universities at Shady Grove ...

Published:  Mon, 16 Jul 2018 21:47:00 GMT



Mistakes In Retirement Planning Shared By Debt Consolidation USA

(PRLEAP.COM) July 15, 2018 - Retirement is a part of every person's life whether they like it or not that is why Debt Consolidation USA aims to help consumers identify some potential problem areas in ...

Published:  Sun, 15 Jul 2018 00:06:00 GMT



LEGAL TALK TUESDAY: Credit Card Debt Relief

In this week's edition of Legal Talk Tuesday, experts with The Cochran Firm discuss companies who claim that they can resolve your credit card debt for pennies on the dollar. In this week's edition of ...

Published:  Tue, 17 Jul 2018 08:20:00 GMT



IMF: Greek economy improved, but may need more debt relief

ATHENS, Greece (AP) - Greece has significantly improved its economy as it heads toward the end of its bailout program in August, but its debt will remain difficult to manage in the long term, the Inte...

Published:  Fri, 29 Jun 2018 12:41:00 GMT



One loan vs many: Is debt consolidation the answer

PETALING JAYA: For those who are left with only meagre funds in their bank accounts after paying their personal loans every month, debt consolidation can sound like a very attractive prospect. Debt co...

Published:  Sat, 23 Jun 2018 05:00:00 GMT



How Greece's PM celebrated European debt relief package

Greece's Prime Minister has welcomed the decision by eurozone creditors to offer debt relief - and marked the occasion by wearing a tie. Alexis Tsipras often joked that he would start wearing a tie on...

Published:  Fri, 22 Jun 2018 15:48:00 GMT



Nearly 35,000 former Corinthian College students in California will see debt relief

Almost 35,000 former Corinthian College students in California will have the remainder of their private loan balances forgiven and some may receive payment refunds after an investigation by the state ...

Published:  Fri, 15 Jun 2018 03:30:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure