A hotline has been set up for Ohio residents that need to speak with a credit counselor immediately. The hotline is staffed by trained counselors that are both Accredited Credit Counselors and Accredited Financial Counselors. This should expedite the process for Ohio residents that are seeking debt relief, especially considering the long delays at some agencies in responding to requests for help. (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Archive for the ‘Eliminate Debt’ Category
Debt Settlement Companies Booming
Debt settlement has become a big business as the number of credit card defaults continues to increase. Debt settlement companies prey on desperate consumers that are tired of harrassing phone calls and threatening letters. What debtors don’t realize is that they end up creating a whole new set of problems when they sign up for debt settlement instead of getting help from a reputable credit counseling organization. (more…)
Payoff Bills
Each month, you probably receive several bills in your mailbox or email inbox. Some are inevitable such as utilities and rent and/or mortgage, but others you wish you could get rid of. There are several different routes you can take in order to payoff these bills. (more…)
Debt Settlement Association Suing Pennsylvania
The Department of Banking in Pennsylvania is facing opposition to the recent legislation in Pennsylvania that requires debt servicing firms to be licensed in order to provide services to Pennsylvania residents. A lawsuit has been filed by The Association of Settlement Companies (TASC) and two of its members operating in Pennsylvania that challenges the new law. (more…)
Debt Settlement Increases Income Taxes
Debt settlement might sound like the best option for you. Besides, many companies “claim” to be able to help you settle for half of what you owe. What they don’t tell you is that after paying their fees and increased taxes, you barely save anything. (more…)
Debt Settlement Scams Difficult to Avoid
The numbers of rogue debt settlement companies are growing, and it is becoming easy to see why. With inadequate regulation of debt settlement companies and the vulnerability of indebted customers, debt settlement companies are springing up just about everywhere. (more…)
Major Creditors Cold to Debt Settlement Companies
Major credit card companies are increasingly unwilling to cooperate with debt settlement companies. This reflects a growing resentment for the predatory practices of many debt settlement companies as well as the high cost that debtors pay. (more…)
Fair Debt Collection Practices Act (FDCPA)
This is a federal act enacted in 1977 with the goal of preventing abuses by third-party debt collection agencies. These abuses were believed to be one of the main causes of the increase in bankruptcies filed at the time. (more…)
Debt Settlement Claims Overstated
Debt settlement companies often state that they can settle your debts for pennies on the dollar or even up to less than half of what you owe. They also tend to overstate the actual amount of work that they do on your behalf. (more…)
FTC Examines Debt Settlement Problem
The Federal Trade Commission has scheduled a workshop to examine the proliferation of debt settlement companies that promise debt relief but rarely help consumers improve their financial situation. The FTC wants to see what impact these for-profit companies have on debtors and on the businesses they owe money to. (more…)
