Sometimes I come across an article that I think is so good and so timely that it is worthy of being reproduced in its entirety. This is definatly one of those times.

With foreclosures and short sales continuing to rise nationally consumers need to be more educated than ever on possible legitimate defenses and protections afforded them under the law.

If you know someone who is in a foreclosure or short sale situation, I urge you to pass this article along.

If you are not a subscriber and would like to subscribe to this Free Newsletter simply visit: FREE CREDIT COUNSELING NEWSLETTER

Here is the link to the full article: What Happens When A Lender Cannot Produce The Original Note

Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

2. Are You A Debt Addict?

The more counseling I do for people who are debt laden and at least claim to be seeking a solution to their debt problems, the more convinced I become that the words "Debt" and " Addiction" go together. Consider my reasoning. Once a person becomes addicted to anything, whether it be drugs, alcohol, sex, money, yes, a we can become addicted to almost anything, no action to alleviate the pain of the addiction will truly occur, until the pain of the addiction becomes overwhelming, and the individual hits bottom.

Like all addictions, the debt addiction starts innocently enough. Perhaps to simply cover a monthly shortfall in revenue. Not unlike the taking of pain medication until the body heals, or, we can get to see the doctor. The short term fix does its job, but without an awareness of the potential negative effects on how easily it can turn into an addiction, we use it over and over, so easy to take out a credit card and sign ones name. Couple this with the fact that the banks and credit card companies unlike the helpful physician, who monitors our pain relief use, these overseers are their encouraging our continued use. Give us a ready supply and even providing gifts in the form of flight rewards and points for using more.

Without an essential grounding,or financial education we fall into the trap and find ourselves paying more and more for the desired drug, until we are almost in ruins. Once we are hooked the banks just increase the cost of the drug with higher and higher interest rates.

Once our credit and good name are damaged we start feeling the pain and start the process of exploring ways of getting relief. The commercials tell us, we should go to the dealers for help. The dealers being the card companies that put us in this situation. Lets see, someone wants you to believe that your drug dealer is ready and able to help you, break your addiction. The worse thing is, people have allowed themselves to become totally brainwashed by the marketing genius of the pushers, into believing they want to let you out of debt slavery.

The pushers tell you to stay away from anyone who really understands how all this works because they really want to hurt you. Only the non-profit credit counselors can really help. The tell you this because they, the pushers, have created the non profit industry and in fact control it! Granted there are bad players in every area of life, debt settlement companies being among them, but there are also awesome debt settlement companies and debt relief programs available that the banks do not want you to be aware of, so, they go to great lengths to try to discredit them.

If you are debt addicted and ready to stop the pain, do not let the pushers stop you. Take control of your own life. If you want free credit counseling advice in an unpressured honest manner where you can explore all your options, including, Debt Management, Debt Settlement, or even alternative debt relief information, then by all means contact us or call us at: 877-766-2465.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders help@americandebtenders.com 877-766-2465

3. NFCC Says Ask Debt Settlement Companies These Questions

As most of you know I am Certified by the National Foundation of Credit Counselors. (NFCC). In the world of credit Counseling this is considered the "IT" certification. Posted on their website NFCC-Questions To Ask When Considering Debt Settlement is information about debt settlement programs and a list of questions to ask a debt settlement company before enrolling. Here is a list of the questions, and following each question is their question and my comment. I think you will find it very helpful, especially if you or someone you know is considering debt settlement to become debt free and avoid bankruptcy.

· Review the company’s record with the Better Business Bureau as well as there state Attorney General or Commissioner of Banking.

My Comment: Do not be hung up if the company is not a BBB member. The BBB logs complaints against all companies, whether or not they are members. You can also try a google search like "Complaints against XYZ company". If you see complaints, ask the counselor directly about them.

· Select a company that is affiliated with an industry trade association which holds members accountable through accreditation.

My Comment:Many Credit Counselors work as small companies. Affiliation is good, however, realize that, for example, a membership can be expensive, TASC, which is the Association of Debt Settlement Companies, costs 250.00 dollars per month. A company can follow TASC guidelines, without being a member.

· Confirm that the account holding your deposits is FDIC-insured.

My Comment:This is a good question, but an additional question might be if funds are held in an attorney escrow account is that account protected?

Obtain all disclosures in writing, including a good faith estimate of costs associated with the settlement.

My Comment: This is absolutely essential. You need to be provided in the agreement itself, a breakdown of exactly how much money is going to escrow for settlements and how much for fees. What is the dollar breakdown not just an overall pecentage.

· Inquire about refunds of any money on deposit should you wish to drop out of the program.

My Comment: Generally, many good companies will breakdown how the fees are earned and the pro rated return policy. All funds held in an escrow account mist be returnable to the client-since it is your money set aside for settlements, period. Also, a good settlement company or settlement lawyer will apply you fees to a bankruptcy proceeding should things change and you find yourself having to file a bankruptcy after the program has been underway.

· Be cautious about promises or guarantees that seem unrealistic.

My Comment: Make sure what you are told is stated in plain language in the agreement. Very simple. Most settlement companies will not represent you if you are sued by a creditor before the account is settled. Make sure you know how that issue will be handled should it occur. This is a very important point Do not gloss over it. You should not have to ask many of these questions, a good program will give you the answers before you ask.

Have more questions? We have answers. We also have an extraordinary debt settlement/debt validation program which may well be the best ever. If you would like to know more, simply visit: DEBT SETTLEMENT WITH VALIDATION. While you are their please feel free to subscribe to our FREE, Credit Counseling Newsletter.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders Help@americandebtenders.com
877-766-2465

4. Illegal Debt Collector Tactic

Indeed we are living in strange economic times. We have consumers who were already burdened with high debt, losing jobs or suffering cutbacks to income, just trying to survive. And, on the other side, we have the banks and collection companies working overtime to try to squeeze that last penny out of you. If they could legally send Vito to turn you upside down and shake you until the money falls out, I'm sure they would

So, in the interest of keeping you, my loyal readers educated and self empowered, I am going to share with you a new tactic, which is highly illegal, being used by 3rd party debt buyers and collection agents.

Here it is. Your in your home minding your own business,when the phone rings. At the other end is someone who sounds very nice and sounds quite surprised to learn that you are home. I mean give me a break, she just called your house. She then tells you that she is a "dispatcher" and they just had someone at your front door, trying to serve you papers. He left the property and did not serve the papers because no one answered. OK--now please pay careful attention. No one came to your house.

Now, with academy award acting skills, she asks if you know who could possibly want to serve you papers? She tells you that you sound like a nice person and she will hold the papers, and not serve them, if you call this number, which she then provides, and tells you to ask them what the problem is, because maybe it's a mistake. She even gives you the case number! Lets pause to breathe here. So far this whole thing is totally absurd. Process servers get paid to serve papers. If no one is home, they simply tape it to your front door.

So, can you tell me what comes next? No problem, I'll tell you. You call the number and it is, of course, a debt collectors office. You give the case number, and the person on the other end, is also very nice. She says, boy, they must have served everyone in your state today, because her phone is just ringing off the hook. OK, now remember, you did not actually get served. She then tells you that she works for this Third Party debt buyer, and they have your debt of whatever the amount. My source had a debt of about 3,000 dollars, which they said really was only 1200.00 but they tact on legal fees. She wants to help you and can offer you a deal of 1200.00 in 3 payments, and mark the account paid in full. Note: They most likely purchased the debt for 100.00 dollars!.

What they are trying to do, is weed out those people they think they have a chance to collect on through a judgment, if they spend the time and money to take you to court. If you are approached in this manner, whether or not you settle is your business, but, what they are doing is highly Illegal under the Fair Debt Collection Practices Act. A creditor cannot threaten to sue you, and not do it. In this case they lied to you, and said they tried to serve a subpoena, but did not, it is grounds to sue them! So if this happens to you, play along, and document everything. If they do sue you, you can counter sue them and you do not need a lawyer to do it. The clerk of the nearest court house will be happy to give you the paperwork. You can also, use as leverage, the fact that you know what they are doing is illegal, and you are going to forward their phone number with a nice little story to your states Attorney Generals office, then ask, if they are willing to settle for 100.00.

I hope you have found this information useful. If you need debt help please do not hesitate to call us at: 866-766-2465, or visit us at: American Debt Enders. If you enjoyed this article, by all means, feel free to subscribe to our FREE Newsletter at: FREE NEWSLETTER.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

5. Debt Settlement With Validation--Wow!

OK, so most people are familiar with the standard debt settlement program. But, are you familiar with a settlement program that demands debt validation, and strict compliance with the Fair Debt Collection Practices Act, and other powerful consumer laws, to put the collectors on their heels, before talking settlement?

How about a program that’s not really a program, but rather the hiring of attorneys who are very familiar with comsumer credit law and, if you are sued while working out the debt, will actually represent you.

What about those extremely annoying creditor phone calls while you are trying to put money together for a settlement? Most settlement companies, say simply, do not speak with your creditors, and that is fine, but it does not stop the calls. Did you know that when a debt validation is requested, that the creditor cannot call you unless and until they are able to meet the legal requirements of validating the debt--or proving absolutely that you owe what they say you owe.

Did you know that legally, if a creditor cannot validate a debt, that you do not owe the money?

How about this one: Did you know that a creditor cannot put negatives on your credit report after you have requested a debt validation, and until and unless they actually validate it?

As you can see you have plenty of rights when you are in a debt crises. Please do not misunderstand what I am saying. I am not suggesting that you stop paying your bills and start playing games. I am saying that if you cannot pay your unsecured debt payments, and the banks will not be reasonable with you, then their is another way.

Want to learn more? Please call us at 877-766-2465, or visit us at:American Debt Enders and leave your contact information. This program is absolutely affordable and works because of its quality.

If you would like to subscribe to this newsletter, feel free to visit: FREE CREDIT COUNSELING NEWSLETTER and leave your email address. We never share your information.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

6. Main Differences Between Credit Counseling And Debt Settlement

The following, regarding the differences between Credit Counseling and Debt Settlement as debt solutions, is taken from an article appearing on the TASC website. The full article can be read by visiting: Tasc Article. For those of you who are not aware, TASC, The Association of Settlement Companies,is a non-profit organization devoted to maintaining high standards in the settlement industry, and highly thought of.

So, lets get beyond all the hype and really take a look at which program has better outcomes. From the article: TASC, the non-profit watchdog organization for self-regulating the debt-settlement industry, gathered the information from various sources, including the Consumer Federation of America and National Consumer Law Center, the Executive Office for the U.S. Trustees and testimony by credit counseling companies. Indeed, all credible sources.

As I have often pointed out, the main difference in the two approaches is that debt settlement companies work only for the consumer, while non-profit credit counseling works in the interest of the banks and credit card companies. As such they are usually only able to obtain lower interest rates, as pre-established by the banks.

Additionally, settlement companies do not receive any fees from the credit card companies or banks, they are solely paid by the consumer. Where as non-profits are supported almost totally by the banks they serve, by being paid what is called "fair share" or a percentage of all the money that flows through them.

Debt settlement programs are typically 36 months or less, while credit counseling programs are 60 months or more.

One of the big drawbacks of credit counseling programs is that the monthly payments are fixed and many times, even a bit higher than what the consumer was paying on their own. Debt Settlement, however, affords the ability of a customized repayment plan, to fit the consumers budget.

Because of the lower payment option, and shorter duration, settlement often has a higher probability of program completion than credit counseling.

So, which program is a utopia? Neither. Getting out of debt is never easy. However, the key is if you are going to do a structured program at least understand the real ins and outs of each, so your decision is not based on what the propagandists are saying.

If you would like to speak with someone who is knowledgeable and can present both options to you, and make full disclosure about each, then please visit: American Debt Enders. and while you are at the site feel free to subscribe to our Free Credit Counseling Newsletter.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

7. Are Banks In League With Non-Profit Credit Counseling?

Hello Again to all my faithful readers who understand the merits of living a debt free life.

I came upon an extremely interesting article on Examiner.com. It is rare for a financial writer to really understand the ins and outs of how the banks really operate to keep you enslaved. But, the article I found by Jerry Troyer, gets it. After doing his homework, he discovered first hand that the relief offered by the banks when a consumer calls directly with a hardship, are woefully inadequate to allow the consumer to meet their payment obligations.

Additionally, he discovered that many banks, when contacted by distressed consumers who cannot afford anything the banks offer them, in terms of relief, transfer the call directly to a CCCS! That's "Consumer Credit Counseling Service".

Mr. Troyer says he has finally come to realize that the non- profit agencies are agents of the banks. Hallelujah!! How totally refreshing to see a financial writer get it.

The article goes on to say that that he has come to learn that the banks pay the non profits for every dime they collect. This is absolutely true and has always been true.

Here is the full article: Examiner Article. It is well worth reading.

If you need debt relief, and want to know all your options, by counseling with people who really get it,whether debt management, debt settlement or an alternative debt relief program that really works then visit: American Debt Enders.

While visiting our website please feel free to subscribe to this newsletter by simply leaving your email address. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

8. Credit Reports Proven To Contain High Error Rate

I have long known that over 70% of credit reports contain significant errors. Here is an article that presents the study and its findings proving me to have been correct. U.S.PIRG.

Please allow me to summarize the findings. The big three credit reporting agencies, collect and report information on 90% of all american adults. They are Equifax, Experian and Trans Union. Those files are often sold to landlords, lenders, employers, credit grantors and collectors often without your permission.

Their have been several studies which prove that their is a high error rate in the data contained in your credit report. Enough errors to cause you to be declined for credit, a job, or a loan, or pay a higher rate than you ordinarily would have.

The study cited in this article asked adults in 30 states to complete a survey on their reports accuracy.

Here are the survey results as reported in the article:

- Twenty-five percent (25%) of the credit reports surveyed contained serious errors that could result in the denial of credit, such as false delinquencies or accounts that did not belong to the consumer;

- Fifty-four percent (54%) of the credit reports contained personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect;

- Twenty-two percent (22%) of the credit reports listed the same mortgage or loan twice;

- Almost eight percent (8%) of the credit reports were missing major credit, loan, mortgage, or other consumer accounts that demonstrate the creditworthiness of the consumer;

- Thirty percent (30%) of the credit reports contained credit accounts that had been closed by the consumer but remained listed as open;

- Altogether, 79% of the credit reports surveyed contained either serious errors or other mistakes of some kind.

OK, so the next time someone tells you that credit restoration companies are a scamsend them a copy of this article, and tell them to think again.

Their is always so much negative misleading propaganda put out in the general media about credit counseling, especially for profits and credit restoration companies that it is high time someone challenged them to prove their claims. The fact is, unless a company is just fraudulent from the get go, they cannot prove their negative talk. It is the banks and non-profits who are controlled by the banks, coupled with the credit reporting, or should I say debt reporting companies that have a sweet deal going enslaving consumers with this brainwashing fixation on credit report scores and borrowing.

If you find an error on your credit report and need help or even free advice on how to remove it, by all means contact us by visiting: American Debt Enders.

Also, if you enjoyed this article and learned something you did not already know, when you visit our site, click on the link to subscribe to our FREE, Credit Counseling Newsletter for more great unbiased and accurate information to keep you out of debt slavery.

Writteb By
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
887-766-2465

9. FTC-Debt Settlement-My Thoughts

Their has been a long standing perception that the FTC has only a negative view of debt settlement companies. With so much misperception and negative press, allow me to try to put things into perspective. Commissioner Rosch of the FTC has taken the following view:

a debt settlement firm can advocate on the consumer’s behalf, especially in cases where consumers are reluctant, embarrassed, or even afraid to contact their creditors directly,” Commissioner Rosch said to the conference attendees. “A debt settlement firm also may be able to provide individualized attention to consumers, taking a holistic approach to all of the consumer’s unsecured debt owed to several creditors, rather than just the amount owed to a particular creditor.

“Managing the complete debt picture and focusing on restoring the consumer’s financial health has always been a critical value proposition of debt management professionals–nice to hear it from the FTC.

In Addition, the commissioner gave the following "best practices" issues to the industry:

“limit their performance claims to those they can adequately Substantiate”; not “misrepresent the benefits of debt settlement”; “disclose, clearly and conspicuously, the negative impact that participation in a program may have on a consumer’s credit score, and how long that impact may linger. This disclosure should not be made only in the written contract, but in the ad itself”; and “if a debt settlement firm promises to refund debt settlement service fees to consumers if their debt settlement negotiations are unsuccessful, the firm must honor that promise.”

Additionally, the Commissioner indicated he was not impressed with attempts at self regulation, by the industry as a whole. The above items from an article at the following link: Real Benefits on Debt Settlement Industry.

The National Foundation For Credit Counseling estimates a completion rate for Debt Management programs among its members to be 21%, the rate for successful completion of a good debt settlement program is often double that.

So why so much negative publicity about debt settlement? First, in my opinion, when the sub-prime mortgage business ended, many unscrupulous mortgage brokers found a new career, it was debt settlement. They were not trained to be counselors, only sales people, looking to close deals. Any deal would do. The same way they approached mortgages, they approached their new found careers in settlement. No full disclosure, no truth in advertising, just get the deal done.

Second, their will forever be a battle between non-profit Debt Management Companies, and Debt Settlement Companies, and for profit companies. Non-profits are controlled by the banks, and get paid a percentage of what their clients pay, by the banks. Additionally, the banks control and dictate the terms they are able to offer their clients. Debt Settlement directly competes with them.

I do agree that to many debt settlement companies simply do not do the right thing, which has tarnished the entire industry. Consumers need to be very careful when choosing a settlement company, or even any debt management company. Make sure you are being counseled and not pushed, or sold, or pressured.

If you would like to speak with a counselor, please visit:American Debt Enders.

If you enjoyed this article and would like to subscribe to our FREE, Credit Counseling Newsletter, please do so by leaving your email address at: CREDIT COUNSELING NEWSLETTER.

Written By:
Steven Ciantro
Member National Foundation of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

10. FICO Offers Free Loan Modification Help

FICO, formerly known as Fair Isaacs Company, the same people who create your credit score, has started an awesome website for anyone needing help with a mortgage problem. The website is Mortgage Lifeline. At the site troubled consumers can get free assessments for their own unique situation. They can actually chat with an approved credit counseling agency with approved housing counseling and have a meaningful dialogue with their lenders.

The average consumer/homeowner in trouble with their home loan, can now determine what new government help may be available, without having to limit their options by paying a large fee to a loan modification company. Consumer complaints are too numerous to ignore. Borrowers say their lenders and the companies that administer their loans, known as "servicers," are difficult to reach and, when they are lucky enough to make a connection, are unresponsive to their needs. Some say they are not receiving any response at all.

This resource site allows consumers to get help with their overall financial picture, not just the mortgage problem. To date, to many consumers have found help, only to have the problem re-occur. At this site, homeowners actually fill out a form and can get an instant response on what type of help they qualify for. In essence, a pre qualification. Within 48 hours of filling out the form, a counselor from Money Management International calls back for a free counseling session to assess if the homeowner is eligible for Hope Now, or Hope For Homeowners, Their still may be other options available.

For free, personalized advice from counseling agencies certified by HUD, call (888) 995-HOPE, a national, round-the-clock hotline.

If you know someone who can benefit from this information, please do forward this article to them.

As always, in writing these newsletters we strive to bring you unbiased and relevant information to help with debt issues. If you would like help with a debt issue unrelated to your mortgage please visit us at: American Debt Enders, we also offer free advice on debt solutions.

If you enjoyed this newsletter, please feel free to subscribe by leaving your email information at our website, or visit the blog at: FREE Credit Counseling.

Parts of this article have been excerpted from an article appearing in the Los Angeles Times which can be accessed here: LA Times Article.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

11. Can A Bad Credit Score Be A Good Thing?

When people are burdened with a debt crises, especially if the crisis has just happened, that holds them back from getting organized help is their credit score. What do I mean by this? Well, if someone is having great difficulty meeting their monthly minimums on their unsecured credit card debt, and is in fact in a pay for life program where the debt will not be paid off for 30 years or sometimes longer, the first question asked is "how will a debt management program program effect my credit".

Please do not misunderstand me, it is a reasonable question and should be asked. The fact is that because accounts in a debt management program are closed to further charging, at the time the bank accepts the proposals for new payment terms, the credit score does take a hit. How great a hit, depends on many factors outside the scope of this article. But, because of this fact, some people laden with debt will not proceed, failing to get the point, or to understand that they have been brainwashed into debt slavery.

Credit scores rise and fall. Does it make any sense to pay back a debt at 30% interest over 30 years, so you can protect your credit score for a few points? The fact is, as you get rid of debt, you will start improving your credit profile, and not be anyone’s debt slave. You will as a debt free person, be totally self empowered in your financial life. Furthermore, your health will improve, as will your mental outlook. These are very tangible reasons to make the necessary sacrifice to your credit score.

This credit score issue is used by non-profits to tell people to avoid debt settlement, even when debt settlement is the most viable option. The fact is that unless a consumer is in a true financial crises, they should not be in a debt settlement program. So if the debt ridden is already in a debt crises with a poor credit score, then, they are able to see more clearly how a structured debt relief program, whatever it is, can help. Then, the only way to go, in terms of a credit score is up.

Written by:
Steven Ciantro
Member National Association of Certified Credit Counselors American Debt Enders
help@americandebtenders.com
877-766-2465

12. Drop In Real Estate Values due To New Appraisal Rules?

As of May 1st, 2009, the Obama administration has put into effect new rules governing real estate appraisals, and you need to know about them. These new rules apply to all loans sold to Fannie Mae and Freddie Mac, in other words all conventional loans.

All appraisals must be ordered only by the lender, from the approved list of "Appraisal Management Companies".

Borrowers must pay for the appraisal by credit card at the time the application is filed.

Brokers and loan officers are not permitted to pay for the appraisal. Previously, this was a fairly common practice.

Brokers and loan officers are not permitted to have any contact with the appraiser(All communications are facilitated through the lender or Appraisal Management Company.

Their is a good likelihood that these new rules, like all government interventions will do more harm than good. The net effect may well be even lower real estate values then are already being dealt with. What these new rules clearly are designed to accomplish is a reduction of inflated values, so the banks are protected when they make a mortgage. I predict that with everyone now walking on eggs because of these rules, real estate values will be under appraised, further causing damage to the market. This represents yet another example of the shutting down of free enterprise with government overreaching.

So, what is the bottom line? As always, you need to take care of your own financial affairs. If you have debt, now is the time to dump it. If you need help doing that, visit us at:AMERICAN DEBT ENDERS If you enjoyed this article, please subscribe to our FREE CREDIT COUNSELING NEWSLETTER, when you visit the website. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors American Debt Enders
help@americandebtenders.com
877-766-2465

13. FICO Backs Off Authorized User Change

In a typical knee jerk reaction, Fair Isaacs Company, otherwise known as FICO, the makers of your credit score, stopped reporting or counting authorized user information on the authorized users credit profile. Why? Because a new industry had sprung up in which people with very strong credit profiles were selling authorized user accounts, so that their good credit profile would make a positive impact on the less than stellar profile of the authorized user. This was very effective, but was considered to be cheating the system, even though it was quite legal.

So, even though, the practice had gone on for many years after a tidal wave of press coverage on the issue, FICO decided to no longer report the profile of the card owner on the authorized user account. By the way, in addition to this being done as a business, parents used it to help their children to establish credit early on, ubtil they could build up their own credit.

Well, it was not long before lenders complained, that the Equal Credit Opportunity Act, required them to consider a spouses credit history when determining a borrowers credit risk, something they claimed they could not do when FICO stopped reporting authorized user accounts.

So, if you would like to try to boost your credit score or someone else's score by making them an authorized user on your account, by all means do so. The person you make an authorized user does not even have to use the card. Your payment history on the card will automatically transfer to their credit report, and provided you are a timely payor, and do not use more than 20% of the available credit, and help improve the authorized users credit score.

Just remember, if the authorized user does use the card, you as the card holder are legally responsible for the debt, not them.

If you enjoyed this article and would like to subscribe to our newsletter, simply visit: FREE CREDIT COUNSELING NEWSLETTER and leave your email information--we never share your information, or spam you. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

14. Better Payback Terms For Debt Management Programs

It is no secret that a structured debt management program, also known as a consumer credit counseling program, can have significant benefits to consumers trapped in "pay for life" credit card debt. Pay for life meaning locked into extremely high interest rates and high minimum payments and nuisance fees, making it virtually impossible to pay down the debt.

Unfortunately, many consumers have faied to qualify for such programs because their income was simply not high enough to meet the new minimum payment requirements.The good news is recently the National Institute for Credit Counseling has approached the major banks, including, Bank of America, Chase, Discover and Amex, to lower their minimum payment requirements in order to qualify more consumers.

The banks are agreeing to do so. Minimums in such programs are based on a percentage of the balance at the time of enrollment, For example, a credit card bank might charge 2.5% of the balance. Which would mean that a consumer would enter the debt management program with a payment of $250.0 for this card. New terms may go as low as 1.75% or 2%, which would provide a significant savings to those cash strapped consumers really needing help.

If you are in such a positionnow would be an excellent time to explore what a debt management program can do to help you escape the oppression of debt. If you are in a debt crises and cannot afford even a debt management program, you might want to consider a formal debt settlement program.

If you would like to so subscribe to this newsletter click the following: FREE Credit Counseling Newsletter. Also please feel free to call us at: 1-877-766-2465--the talking is always free. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

15. Learn The Tactics Of Debt Collectors

Sorry, it has been so long between posts. I have been looking for just the right topic. Make no mistake with the mountain of unsecured debt that has built up over the last 10 years, the debt collection industry is experiencing a revitalization. Their is no recession in this industry.

As proof I put forward the following email which found it's way into my inbox. As you can see it is meant to provide aids to debt collectors for going after you. You need to know what you are up against if you choose to ignore your debt problems.

Here is the unedited email-it is from a company called "Columbia Financial International". -www.casetrackerlaw.com: The best web-based collection Attorney & collection agency software managing program. Technology that will help you get clients.

Ever wonder how they get your cell number?

-www.celltrackerusa.com: Locate cell phone numbers for debtors; no hit/no fee 50¢ per hit. -

You really have to love the next one.

www.privateeyeverify.com: Professional licensed investigators will hand your demand letter to the debtor, take pictures and put you on the telephone to discuss payment. Click here for information and sample reports. Great for large commercial files your debtor will know you are serious!

This next one is for those of you who are inclined to sue for collection harassment.

www.columbialist.com/webrecon: Stop FDCPA complaints cold. This subscription will save you thousands of dollars.

www.claimforwarders.com: Free electronic collection claim forwarding software. Use our contingency collection attorneys or put in your own. Feature highlights: give a pass code to your client to send your collection files free.

And last but not least

The Columbia Store: Over 500 accessories, books, legal items, novelties & more.

Did you ever wonder how they find your bank accounts?

www.findbankaccounts.net: No hit/ no fee. Bank account and employee locator, 60 day guarantee. All information verified or hit replaced!

Yourvirtualspokesperson.com: Send out emails with virtual spokesperson presenting your company.

www.Top-Ten-Marketing.com: Top-Ten-Marketing is a member benefit to the "The Commercial Law League of America" and the official web provider for "The Commercial Collection Agency Association". When someone needs a provider they go to the internet...Be there! 20% off web design & search engine top placement agreements.

And finally:

www.debtsellers.us: We sell receivables and we buy judgments!

Their you have it. If you had any doubts about what you are up against, hopefully, this article has put them to rest. They are organized, so you need to be organized.

If you need Free credit counseling and want an evaluation of your options for getting out of debt, whether Debt Settlement, debt management or as a last resort, bankruptcy. Then you need to contact: American Debt Enders. They are organized so you need to be organized as well.

To subscribe to this simply click FREE CREDIT COUNSELING NEWSLETTER and click the "Subscribe Now" button and leave your email address. We promise we will never share your information, or spam you. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

16. Does Your Brain Have A Disconnect Regarding Debt?

I am in a great position to see first hand what the banks are doing to keep you a debt slave because debtors share so much excellent information with me. Here is the latest piece of information I have received.

After raising interest rates on it’s card holders that have consistently paid on time and more than the minimums to 29.9%, Chase bank sent out a notice which read “GOOD NEWS”, Are you interested in lowering your interest rate? Do you think people will be opening these? Yes. The mailer then outlines the 3 easy steps you need to take to get your rate reduced to 27.99%, no, that is not a typo, in 12 months time. These people are playing card holders for idiots. Even worse, the tactic is probably working. This is like asking do you want me to beat you with the big baseball bat, or the smaller one.

So how do I get this wonderful new low rate? The mailer goes on to explain. Simply visit the www.chase.com website before April 30th, 2009, set up automatic bill pay, continue with no late payments or returned payments for 12 consecutive months, and just like magic, they will start beating you with the smaller baseball bat— that 27.24% interest rate. It actually takes 12 months to get this ridiculous equally usurious interest rate!

If you receive or received this notice, or anything like it, and it does not spur you on to take action to end your debt enslavement, then please, email me your name, because I want to put you on my prayer list. And I will pray that God will open your eyes.

On the other hand, if you are awakening, I commend you. If you would like to consider a Debt Management Programor you are in a debt crises and would like to discuss a Debt Settlement Programor just need debt advice, please feel free to contact us.

If you enjoyed this article and would like to subscribe FREE, to this newsletter feed, please visit: American Debt Endersand click on the subscribe now tab, to receive this Free Credit Counseling Newsletter, FREE.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

17. Why Debt Settlement Over Bankruptcy? Choose Wisely.

If you are considering Bankruptcy instead of a Debt Settlement Plan, make sure you are aware of the advantages and disadvantages of your decision. If Bankruptcy is the only option for you, then you should seek legal advice from a bankruptcy attorney.

The following information is not intended to be legal advice; rather it is just an overview on the basics of the 2 most common bankruptcy types.

There are 2 different types of bankruptcy that a client may consider: Chapter 7 or Chapter 13. On October 17, 2005, the bankruptcy code was revised by the “Bankruptcy Abuse Prevention and Consumer Protection Act.” [BAPCPA] This revision was intended to eliminate the option of Chapter 7 Bankruptcy for people who could afford to repay some of their debts. Now, in order to qualify for Chapter 7, a client’s expenses will be examined using the government’s “means test” which was introduced as part of the 2005 revision to the law. This test analyzes a client’s income and expenses using national and local living standards, and the median income for the client’s state.

Chapter 7: “No asset” bankruptcy – You do not have to pay any portion of your debts.

To qualify for a Chapter 7, first a client must obtain Consumer Credit Counseling from an organization approved by the United States Trustee’s office within 180 days of filing. The counseling is intended to provide the client with alternatives to filing for bankruptcy.

A client must pass the “means test.” If a client has a certain amount of disposable income left monthly, then they will not qualify for Chapter 7 and will only qualify for Chapter 13.

Most bankruptcy attorneys require you to pay their fees up front in full before they will process your bankruptcy. Fees vary by state.

A bankruptcy will remain on your credit report for up to ten (10) years.

Chapter 13: “Repayment Plan” bankruptcy – You must repay a portion of your debts. Chapter 13's can be costly.

- The court will analyze your income and expenses, and set the client up on a repayment plan with their creditors typically for 3 to 5 years.

- The bankruptcy Trustee monitors and administrates your payment plan.

If you cannot file a chapter 7 bankruptcy, you may be much better off entering a valid Debt Settlement Program , administrated by a law firm. The debt settlement program will not be listed on your credit report, you will not need to be involved with the courts, and a chapter 13 is really a quasi court ordered settlement program. Also, your credit should improve faster in a dent settlement program.

Bottom line: You need to get the facts. You can get a free quote and consultation by contacting us at: American Debt Enders.

If you enjoyed this article, please feel free to subscribe to our FREE Credit Counseling Newsletter. We never share your information, and never spam you. Wtitten By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

18. "Important Notice Regarding Changes To Your Account"

Most recently someone I know received a notice from a credit card bank with the above headline written in bold. This person has excellent credit and always pays more than the minimum balance. However, they do not use the card, so the balance keeps going down.

The current interest rate on the card is 8.99, the credit card company is giving my friend notice that they are raising the rate to prime plus 13.99, which would make the new rate about 17.99%.

Here is the kicker. The notice says, "Important, Please know that you have options". If you accept the new rate there is no need to do anything. Isn't that just nice of them. On the other hand, "If you do not accept the APR changes", your card Will no longer be available for use". Also, you will lose any rewards points you have accumulated.

Now for the implied threat. "If we close your account we will not be liable to you for any consequences resulting from closing your account or suspending your credit privileges". They provide the disclaimer because they know that closing the account will negatively impact your credit rating. This is the equivalent of the loan shark telling you he's raising the "Vig" and if you do not pay, he cannot be responsible for the outcome, you know, like broken legs, etc.

The reason stated for the change in terms, is that the bank needs to maintain profitability, and your paying more than you are asked each month, on time, is not allowing them to rip you off, so they are trying another tactic.

Aren't our lawmakers wonderful.They wrote a new law making all this legal, called the "credit card reform act". It does not officially take effect until June, of 2010. So, the banks are trying it out early. You know, like practicing.

Under the law when parties rewrite the terms of an existing contract in this manner it is called "Novation". Their is a program called " Court Mediation Services" which utilizes this same legal concept, and has been doing so for 5 years, to turn the tables on your creditors and get you out of debt. The program works, and you can learn more about it by visiting: American Debt Enders. Just click on the tab that says" Alternative Debt Relief".

If you would also like information on debt settlement or debt management, please feel free to browse our site as we also offer these programs. The consultations are always free and we are on a mission to help you attain debt freedom.

Also, please feel free to subscribe to our FREE credit counseling newsletter, by clicking on the subscribe now tab at our site.

It is time for you to take control and not allow yourself to be victimized by these thieves. We want to help. Always free consultations with no obligation. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

19. Debt Settlement Is For More Than Credit Cards

Generally, when people talk about debt reduction they are referring to credit cards, and sometimes medical bills. But, in point of fact, debt settlement can be used for a wider group of unsecured debts. For example: Rental agreements and leases. Yes, why? Because these agreements are unsecured debts, and, provided you are no longer living in the unit, they can be settled on.

How about second mortgages after a house has been foreclosed on? If the second mortgage was not handled by the foreclosure sale, in other words, not enough money was paid to cover it, then, it becomes an unsecured debt, for which you are still obligated. At this point, the debt can be qualified for a debt settlement program and settled on.

What about when a business goes out of business? Usually, there are vendor bills and business debts which are unsecured. As long as you are no longer doing business and the debt was unsecured, their is a special program for settling these debts as well.

So there you have it. A good credit counselor, working in a for profit environment will be able to bring you far more solutions to avoid bankruptcy than a non-profit could ever. Why? Because, for the most part non-profits are beholden to the banks and credit card companies because they are paid by them! And, are constrained from offering other solutions beyond debt management programs, which are controlled by the banks.

If you have a debt issue and want to know all your options so you can make an intelligent decision, visit us at: American Debt Enders and get an intelligent free credit counseling session to learn all your options.

If you enjoyed this article you may subscribe to our FREE Credit Counseling Newsletter by visiting: Free Credit Counseling Newsletter Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

20. Ideal Time To Enroll In Debt Settlement and Debt Management Programs

Banks and Collectors are finally getting it. As personal bankruptcies increase because so many consumers are throwing up their hands and surrendering, banks and collection companies are in a more favorable frame of mind for making debt management programs and debt settlement programs more favorable.

Recently Capitol One which would not lower their interest rates in a debt management program below 15.9%, just did exactly that. Also, lowering the required minimum payment to 2% of the total outstanding balance. This move makes putting a Capitol One card into a debt management program perfectly reasonable. Some creditors are even allowing other types of accounts such as flex spending accounts into debt management programs.

Collectors are becoming all the more aware that it makes Perfect sense in today’s poor economic climate to take less money by settling the account, as opposed to the cost of litigating and coming up with the same amount of money over a longer period of time.

This is a very bad time to be ignoring your debts and hoping they will go away. They will not.

This current climate is the time to take full advantage of the situation. If you would like an absolutely FREE quote on what a debt settlement or debt management program can do to help you become debt free, please visit:American Debt Enders. Also, while you are visiting our website, please feel free to subscribe to our FREE, Credit Counseling Newsletter for more self empowering information. Written By:
Steven Ciantro
Member National Association Of Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

21. Debt Collectors Use More Tools To Defend Themselves Against Debtor Lawsuits

I just received am email from a company called "Colombia Financial International". The title of the email is "Protect yourself from FDCPA and FCRA lawsuits."It is addressed to debt collectors and creditors and states that over 500 new cases against these groups are filed each month by debtors.

Here is a quote from the ad: "In partnership with Columbia Financial International, WebRecon's FDCPA Litigant Alert empowers you to protect yourself from overly-litigious debtors by allowing you to compare FDCPA/FCRA litigants nationwide with debtors in your own database. Find out immediately if you are collecting against anybody with a history of suing collection agencies."

Yes, they maintain a list of debtors who file lawsuits against the collection industry for abuse. As debtors become more and more knowledgeable about their rights, more lawsuits are filed and won. This makes it more and more expensive for collection companies collect on a debt and make money. If they know they are collecting on someone who knows their way around the courts, they might be more on guard and more inclined to settle.

They also list all the new lawsuits each month, so collectors can get a feel for exactly what items are being sued for. Certainly, we cannot blame the industry for trying to protect itself. just as they cannot blame debtors for insisting that their rights not be trampled on. Generally, debtors only sue, if the collector is particularly obnoxious and impossible to deal with in a civilized and reasonable manner.

Here is the website which is offering this tool to collectors:Collection Lawsuit Tools I list it here so you can become more informed. Remember, you are in a battle,if you are trying to become debt free. As all my readers know I never suggest for anyone to try to beat the system, however, If you are enslaved by debt you need every tool at your disposal.

If you need information on what to do if you are being sued or harassed by a creditor, please visit our website: American Debt Enders and click on the Legal Resource Page. You can also subscribe free to our FREE Credit Counseling Newsletter while their. And as always, please feelfree to contact us using the information below if you have questions. We would love to hear from you. Written By:
Steven Ciantro
Member National Association Of Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

22. Banks Still Putting Screws To Consumers With Rate Squeeze

Did anyone happen to catch the wonderful show put on by the bank CEO's appearing before congress last week? It's almost like a quickly rehearsed badly produced, thrown together, made for TV movie. The congressman looking down from their towers, wave letters from constituents who are bitterly complaining that are being charged 30% interest on their credit cards. The waving of the letterswas a pretty nice touch, from a production standpoint. The bankers sit their looking blank, (can't be accused of anything with that blank stare), and say, yes they are getting it.

I want to know what drug they are all taking, because, I want some. Whatever it is, it seems to create a peaceful sense of unreality. Could it be that they are taking Soma, from Huxley's Brave New World, and are just keeping it all to themselves? Lets see. People who are never late on there payments are getting pounded with higher interest rates and raised payments. This is happening to a greater and greater extent. The congress was so concerned about this when they passed the "Credit Card Reform Act" that they actually gave the banks 18 months to freely jam consumers before its implementation. Not to mention, that the bill simply does not stop usurious interest charges at any point. Now, the banks just have to give you more notice. Even better.

You would think it would be in the interest of the banks to give more reasonable terms when a consumer enrolls in a debt management program. The banks are carrying one trillion dollars of credit card debt. Yes, they lower the interest rates but 9 times out of 10 the payment increases to a point where it is simply Unmanageable, forcing the consumer to look at debt settlement or bankruptcy as the only way out.

If you are trapped in this cycle, and have had enough. Contact someone who has not yet been put onto Soma, and really cares, by visiting the American Debt Enders website, and seeing what we have to offer by way of debt relief.

If you enjoyed this article, by all means, subscribe FREE, to our Free Credit Counseling Newsletter, by visiting the website and clicking on Subscribe Now.

To our many subscribers and loyal readers, a special thanks to all of you for the great comments you leave. We have now published your comments on this blog. Keep it up, we appreciate your thoughts. Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465


23. Hope You Are Not Banking On Stimulus

No doubt we will have a huge stimulus or spending bill passed shortly. opefully, it will contain enough well focused ingredients, to help homeowners on the verge of losing their homes and stop the bleeding in the housing market. But, here is the bottom line. This type of stimulus has been tried before, but never to this magnitude, and only prolonged the agony, for a long time. Also, realize that this is a world wide problem. So, since the whole world has to be fixed economically, it's not looking to good. Even the experts cannot agree. Except everyone agrees that no one is 100% sure of anything.

Take a close and honest look at our leaders in Washington who are the plans masterminds.They were, for the most part, all in positions of leadership when the problems started. Surely, you do not believe that George Bush caused all this. So these are the same wonderkinds now teling us that they and only they have the solution.

I'm sorry to be a naysayer, but my common sense and own research into this stimulus bill, tell me otherwise. If you are reading this article and you are on the verge of financial disaster in your own life. You need to take action. Their is debt help and guidance available.

Personal financial crises's are easier to deal with if you only need to concentrate on the basics of living. Things like, food, shelter, and clothing. You can always work toward a more prosperous way of life, if you are debt free and have the basics covered. In order to be in this position, you need to dump your debt, and the faster the better.

If this message is resounding with you, then by all means visit us at:American Debt Enders. and use the site resources to help you. If you are being sued by a creditor than click on the Creditor Lawsuit Resources link to find out how to handle that problem. If you need Budgeting Help we can show you how. If your debt is simply driving you crazy, and you are ready to deal with it, please contact us, we have solutions like Debt Settlement, Debt Managemenbt, and even some you never heard of. Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

24. Payment Reporting Builds Credit

This is important news for anyone looking to rebuild their credit. Payment Reporting Builds Credit, more commonly known as PRBC, is a credit bureau. Most people are unaware that while their credit scores are based on information reported on the big three, Experian, Trans Union and Equifax, these three bureaus can get their information from other lessor known bureaus. One of them being PRBC.

OK, so why is this good news? You as an individual can sign up with PRBC at no cost, and have your rent payments, utility bills, phone bills, and even your cable bill reported to PRBC. This will build a credit file. For a small fee, and at your request, PRBC will verify the accuracy of the information. Additionally, Fair Isaacs Corporation, the same people who generate your FICO credit scores for the big three, is working with PRBC to produce a PRBC credit score.

Want to have your payments automatically reported to PRBC? You can sign up for a Secured Credit Card from VR-Tech Marketing and it will report everything you pay using the card. The card will look and act just like a credit card, but will be funded with your money. After six months of payments you can apply for an unsecured credit line. This unsecured line will also report to the big three. So, if you have been struggling and looking for a way to build your credit, you have just discovered the answer.

Want More? HUD will recognize the PRBC when evaluating you for a home loan. Yes, the FHA is strongly supportive of this effort. So if you have previously been invisible to the credit scoring companies, and want to change that situation, you now can.

If you would like to view a video about the PRBC visit: WATCH THE PRBC VIDEO.

If you have enjoyed this article and would like to subscribe to the FREE CREDIT COUNSELING NEWSLETTER, yes it is free, please visit: American Debt Enders and simply provide your email address. We never share your information or spam you. While you are their, please feel free to call us or email us, or try a live chat, if you need debt settlement, or debt management or just have a debt relief question. We have more than one solution to help you.

Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465


25. Get Ready To Rumble, Your Credit Card Payments Are Set To Double!

Get ready. Your minimum credit card payment is about to double! Yes, pressured by the office of the comptroller of the currency since the enactment of the Bankruptcy Reform Act of 2005, banks are ready to raise your minimum payments up to 4%.

Why? Because consumers have racked up so much unsecured debt, that they are in a pay for life program. The idea is that the higher payments will have a twofold effect. One, to pay down the principal faster. For example, a 2000.00-dollar balance at 18% and minimum payments of 2%, will take about 30 years to pay off. At a minimum payment of 4%, you are looking at 10 years, and a huge savings in interest. Also, it is thought that consumers will keep their balances lower because they will know that the minimum payment will be harder to meet.

So, what's the problem you ask? Well, many americans cannot even afford their current 2 and 2.5% payments, let alone 4%. So once again, our leaders are to your rescue with another disastrous idea.

If you do not think that the banks are really in control here, please think again. The real problem is that the interest rates on credit cards is legal usury! An issue simply not being addressed. So, get ready, if you are currently having problems meeting your minimums. What to do? Get out of debt! Do not wait another day to see what a debt management, debt settlement, or perhaps an alternate debt relief program can do for you, to help you avoid a bankruptcy. The time to act is now, not when the problem is further advanced.

If you need free credit counseling feel free to visit us at: American Debt Enders

If you enjoyed this article please feel free to subscribe to our FREE Credit Counseling Newsletter which is filled with relavant articles designed to empower you to a life of debt freedom. If you do not take control, you have no one to blame but yourself.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

26. Change In Credit Scoring Rules

Late in January of 2009, the Fair Isaacs Company, from which is derived the FICO Score will be changing its scoring rules to help improve consumers credit scores. So, exactly how will these changes help? Consumers with late payments on debts of less than 100 dollars will be ignored. Also, less negative weight will be put on car repossessions and other charge offs. All active accounts however will have to be in good standing. Finally, and perhaps not so good news, authorized user accounts will now be ignored in the scoring. What are authorized user accounts? Simply this. When anyone with a credit card in good standing requests that someone be added to the card as an authorized user, which means they are not responsible for the debt, the authorized users score will not be raised.

In the past parents have added their children as authorized users to help them attain a good credit score. This practice will no longer have any effect on the childs credit score. Additionally, any open accounts not in use could change a persons credit score negatively, as banks are shutting down accounts which are not in use.

Consistent with all my articles, I advise everyone, to be more concerned about clearing up any debt issues you may have, and worry less about being dependant on the banks money. If you need debt help please visit: DEBT HELP.

If you are not already a subscriber and would like to subscribe to FREE Credit Counseling Newsletter, please visit: FREE NEWSLETTER Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
877-766-2465

27. Dump Your Debt, And Stop Worshipping At The Alter Of The Credit Score

Did you know that paying your balances in full every month, will give you a lower credit score than maintaining a 25% debt balance of your total available credit? In other words, if you have total available credit of 10,000 dollars, and you maintain a debt balance of 2,500 dollars by just making minimum payments, your credit score will be higher in the later case.

As I have written about so often, the whole system is designed to keep you thinking as a debt slave. It makes your thinking go like this: High credit score equals more things I can purchase on credit, using the banks money and just make nice low monthly payments. Of course, most people have been brainwashed into just ignoring the fact that "the borrower becomes a slave to the lender"and "the rich rule over the poor" proverbs 22:7.

The single most important thing you can do for yourself is to get these facts clearly implanted into your mind so you are thinking with clarity and can actually stop being poor and be empowered to live a life free from want, because you will be no ones slave.

Quite often credit counselors are asked by consumers considering some type of debt management or debt settlement program, "How will this program effect my credit". Amazingly, most consumers in a debt crises have already had their credit score negatively effected. Please do not misunderstand, it is a fair question, but the real truth is, that the first thing to be addressed needs to be the debt, since this is in reality what caused the problem, and ironically, it was their good credit that pushed the problem along!

Here is something I'll bet you never thought of beforeWhether or not you are enrolled in a Debt Management Program is not counted one way or the other by the FICO scoring model, however, that's only half the story, the other half is that when you enroll you have to close your credit cards, thereby, closing off your credit card lines and that does cause your credit score to drop. Now, just think about it, you are getting out of debt, and yet your credit score drops! Why?, Because you are no longer a candidate for debt slavery. Since you now have chosen to break the chains that bound you, the banks view you as less worthy. You have to admit this is pretty fascinating stuff.

Today, their seems to be an awakening happening. More and more consumers are waking up and realizing these truths, and have decided to do what ever it takes to become truly self empowered again. Will you be one of them? If you would like to speak with a counselor about what you can do to get out of debt, without any hard sell approach, or, if you are in the midst of a creditor lawsuit, then please visit: American Debt Enders. There, you will find Live Chat help, budgeting help, and if you need a debt management program or a debt settlement program we can put you into one.

If you enjoyed this article, we would love to have you subscribe to our absolutely Free, Free Credit Counseling Newsletter We do not ever share your information or spam you. Written By:
Steven Ciantro
Member National Association of Credit Counselors American Debt Enders Help@americandebtenders.com 877-766-2465

28. New Credit Card Rules To Be Effective, July, 2010

In a previous article on this subject I wrote what to expect by way of change for credit card users. To recap, The bank can still play loan shark by charging you usurious rates, the difference is come July, 2010, that’s right, more than one year away, they will have to give you notice, and will only be able to charge the usury rate, although legal, on new charges, not past balances, (before the effective date of the notice). Here is the link to an article: NEW CREDIT CARD RULES.

Well, lets be grateful for at least some change. But, do take note of how much time the banks and credit card companies have been given to plan and implement their course of action. Be careful, because what they give you with one hand they take away with the other. Remember how the bailout went? Taking from the poor, you, to give to the rich, the banks? This should put you on notice. If you have debt, get rid of it, and empower yourself to live a debt free life. Do not be lulled into a false sense of security by the media which is reporting this story like everything will be fine now. In case you did not know, the banks and the media are not your friends.

If you need counseling and either a debt management program, or a debt settlement program, or some other solution to help you get out of debt and avoid bankruptcy, please visit: American Debt Enders.

If you would like to read more very informative articles with real information to help you attain debt freedom and End Debt Slavery. Please visit our Free CREDIT COUNSELING NEWSLETTER. and subscribe. It is free, and we do not ever share your information. Written By:
Steven Ciantro
Member Natiional Association of Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

29. Federal Reserve To Vote On New Credit Card Rules

This Thursday, 12/18/08, the Federal Reserve is set to vote on issuing new credit card rules in the hopes of providing much needed relief to consumers who are being oppressed by credit card debt.

What are the new rules?Perhaps elimination if the Universal Default clause, which allows banks to raise or lower or even close your line of credit if you are late even once, on a completely different credit card. How about those usurious loan sharking interest rates? Well, since a supreme court decision allowed them. it will probasbly take one to eliminate them. But. what they do intend to do, is allow banks to retroactively raise your rates. In other words, when a bank raises your interest rate, that new rate can only apply to any new charges, while interest rates for previous charges will remain unchanged.

If you understand how the Federal Reserve is set up, you know that its board and shareholders are primarily bankers, with a big time vested interest in the health of the banking industry. Banks make money by being the recipients of your debt charges. So, while, they will make changes, which, no doubt, will be heavily touted by the media, do not be fooled. Their are not enough credit counselors in the country to clean up all the current debt. Additionally, the banks have already stated that they will work around the new rules to maintain their profitability. I suspect, ever higher interest rates are comming. If you would like t read more on how and why the banks keep you as a debt slave, feel free to visit: END DEBT SLAVERY

If you help getting out of debt, please visit: American Debt Enders

If you enjoyed this article please subscribe to our: FREE CREDIT COUNSELING NEWSLETTER Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

30. Debt Settlement Might Have Helped Her

The following true story appeared in the 13wham.com website out of Rochester New York. Drowning In Debt. It is a short article but wll worth reading. Here is a summary of what it says. A woman got carried away using credit cards for small purchases. Everything was going along fine until one day she realized she was trapped by having accumulated over 50,000 dollars of unsecured credit card debt. Clearly, like so many americans she was not paying attention.

She readily admits in the article that she was not paying attention. As long as she was making minimum payments the banks just continued to let her pile on. Then, of course, according to plan, started the squeeze. Higher interest rates, all legal , and written into the agreement that no one reads. So, like many americans in this situation, she sought help from a non-profit organization, also known as a consumer credit counseling company. (The supposed Holy Grail of debt relief). I was once a Regional Manager of a non-profit. You should know that these programs are controlled by the banks.

Her credit counselor reviewed her income and expenses, only to determine that she was not a candidate for a debt management or consumer credit counseling program because she could not afford the minimum monthly payments. They could not offer her any other alternative relief program because non-profits are totally limited in the help they can offer. Would learning to budget help her in this scenerio?, Absolutely not. So, she was forced to declare bankruptcy. The problem was, that she owned half the house she lived in and it had equity. So, in the bankruptcy, the courts put a lien on her half of the house, and, took most of the things she purchased with the credit cards to improve her home, so they could be sold, and the money used to help pay off creditors and lets not forget the trustee appointed by the courts to oversee the bankruptcy.

This story is a crime. People are constantly being sold a bill of goods, because they are not told their are other debt relief options, aside from bankruptcy and consumer credit counseling through a non profit. She may well have been a candidate for a debt settlement program, which could have cut her payments buy about half. Is a debt settlement program a utopia? No, but was the bankruptcy a utopia? She may well have been able to keep the 50% equity in her home, and even the things she purchased running up the debt. By filing a bankruptcy, she was wiped out, and the creditors probably received less than they would have had she been a candidate for debt settlement, or even an alternative which may have been provided to her by a for-profit debt relief company.

To prevent this from happening to you, click on Debt Settlement Options. and have a free consultation to learn about all your options for debt relief.

If you enjoyed this article please feel free to subscribe to our: FREE CREDIT COUNSELING NEWSLETTER. Wtitten By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com

31. More On Why Debt Settlement May Be Your Answer

Recently the following article appeared in the Boston Globe. Reworked Mortgages Not Working. My experience tells me that many people who enter into workouts with their mortgage lenders, are not addressing the fact that while this may be a good beginning, it is only a first step. Credit counseling with individuals who have done workouts, I have learned that many of them are simply not interested in going beyond that point, even though they are saddled with big credit card debt. Many, do not want to give up their credit cards, even though those cards with their big interest and accunulated late fees, will put them right back behind the eight ball.

A fact born out by the statistics cited in the Boston Globe article. If you have done a workout or are in the prcess, and have unsecured debt that may be getting out of control, you are doing yourself an injustice if you do not speak with a credit counselor to learn what options may be available to you to reduce and eliminate your debt. Failing to do so, may land you back in the same place.

If you would like to speak with a counselor please feel free to visit: American Debt Enders

You can call us, or email us or use the Live Chat feature to get information with no obligation, we will discuss all of the options available to you including but not limited to debt settlement, debt management, and budgeting help.

Written By
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
877-766-2465

32. When and Why Debt Settlement Makes Sense

Recently, US Senator Sheldon Whitehouse convened a field hearing for a Senate Judiciary hearing, at Rhode Island College, a panel of experts to discuss the credit card dilemma in the U.S.

You may think that when you use a credit card you are actually borrowing money from a bank, but that is not how the bank sees it. The bank views you the borrower as a perpetual asset, which will keep paying major dividends, usually, to the tune of 29%+ over your lifetime. The entire industry has been designed to keep you in a pay for life program, by employing, late fees, annual fees, over limit charges, (why are they letting you charge over your limit?), and outrageous interest rates. Attorney John Rao, of National Consumer Law Center stated “ The more you owe, the bigger the asset you are to the bank”.

Oncethese extras start to add up, said Robert Lawless, a law professor and expert in bankruptcy and corporate law, borrowers find themselves in a “sweat box” where they are unable to make all their payments on time, but aren't in enough financial trouble to declare bankruptcy. It is during that period, he said, that the interest and fees skyrocket to a level where there is no hope of getting out from under the debt.

“Credit card companies kick consumers when they are down,” the senator declared. “The practices of the credit card industry are unfair, and, I believe, unsustainable — they could lead to another financial collapse unless Congress acts.”

None of this is any secret to the consumers who have fallen for the trap, nor is it news to any credit counselor. The fact of the matter is that the banks have become so stiff necked in trying to protect their profits, that they have made so far to few people can even afford a debt management program, which, by the way, they also control, and yes, that includes the debt management programs of the non-profits.

Did you know that the Bankruptcy Reform Act passed only 3 years ago, was in large part written by the banks! Is it any wonder that with this much clout, the congress is stealing from the poor, namely you, and giving to the rich, the banks. Still wondering why people are enrolling into debt settlement programs to escape the madness and free themselves from debt slavery. Now, this same congress, is looking into ways to help you. Where have they been! You need to seriously ask yourself, if you are a debt slave, how much longer are you going to allow that situation to exist. You must, intelligently, look out for yourself, because, no one else is living your life.

I have serious doubts that the new administration will really do enough to reign in the banks. Why?, Because they have so much power. I’m sure there will be talk of change, but, I believe you will see very little by way of real relief.

So, if you need debt relief, and cannot find your own way out, and would like to avoid bankruptcy, or cannot qualify for one, and are not able to currently pay your creditors, and cannot afford a debt management program, please feel free to contact AMERICAN DEBT ENDERS for a free consultation and see what your options are. Quotes from an article written by Jim Baron, for The Call, on Dec 4th, 2008, were used for this article.

Written By:
Steven Ciantro
Member National Assiciation of Certified Credit Counselors
American Debt Enders
877-766-2465

33. American Debt Enders Adds New End Debt Slavery Blog

American Debt Enders a for profit counseling referral company offering debt settlement, debt management, and credit restorationand, as an affiliate of Consumer Debt Solutions a BBB member, has started a new Blog called end debt slavery.

The motivation is very simple. Americans have become debt slaves, working to pay debts which will take a lifetime to pay off without some type of disciplined intervention. Just think about it. Our government has taken from the poor and given to the rich. Banks, which have and are picking your pockets with 30% interest rates and ridiculous nuisance fees, now have been bailed out by YOU!!!

Is this what Barack Obama had in mind when he talked about spreading the wealth around? If you recall, he did sign onto the plan! Please feel free to visit the blog as it contains great information and links to other resources. And, if you need a structured debt settlement or debt management program to help you break free from debt oppression, by all means contact us.

Wtitten by
Steven Ciantro
American Debt Enders
Help@americandebtenders.com

34. How To Opt-Out Of Pre Approved Credit Card Offers

Tim Thrift, an affiliate of American Debt Enders affiliate wrote:Trans Union, the Chicago-based credit bureau, has agreed in perhaps the largest legal settlement ever.

This is incredible information and speaks volumes about the integrity of the credit reporting agencies. Notice in the article it talks about that Trans Union violated the Fair Credit Reporting Act when it sold consumer information to businesses for their targeted marketing efforts and it discontinued the practice in question in 2001. Baloney! The credit reporting agencies engage in this practice still today! How do you think your mail box fills up with pre approved credit card offers etc. Because they sell this information otherwise known as "targeted marketing" to for example credit card companies. You can opt-out of this process by visiting: OPT-OUT, or calling: 1-888-567-8688.

To read the full article on the settlement: : Consumer Watch: Big settlement will give consumers limited free credit services. . If you have allowed yourself to become trapped in debt slavery and would like more information on how to get out, visit: American Debt Enders, which offers debt management, debt settlement solutions, as well as other helpful information on "How to make a budget", How to get a free credit report and creditor lawsuit resources.

If you enjoyed this article, please subscribe to our: Free Credit Counseling Newsletter

Written By:
Steven Ciantro
Member National Asociation of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com

35. American Debt Enders Declares National Debt Freedom Day

This is a press release put out by American Debt Enders on 11/19/08. Here it is in its entirety for todays newsletter article.

Headline: With credit card debt being a national epidemic in the United States, American Debt Enders is declaring that January 20th, 2009 be the first National Debt Freedom Day.

Millions of americans have lost their way financially. Couple this with the fact that the credit card industry has been allowed to continue its usurious practices of extreme interest rates and onerous nuisance fees while our elected leaders "Fiddle while Rome burns", and it should be of no surprise to anyone that we are in the economic mess we are in.

We have national smoke out day, so why not National Debt Freedom Day. To many americans have allowed themselves to become debt slaves to the credit card industry. Yes, we must take our share of personal responsibility for allowing this to happen. So, just like anyone suffering from any addiction, we must admit we have a problem and vow to take whatever necessary action to get to a solution.

How will the day be celebrated?On January 20th, 2009, and each year following, let all of us avoid using a credit card for 24 hours. Debit cards are acceptable. The idea is to one: Get us reacquainted with the idea of paying for something at the point of transaction, and not having a credit card company front the money for us. Second, think of the message. We will take back financial control of our own lives, and are stating we are tired of being victims of the banking industry with their 30% interest rates, and pay for life programs. Tell me what investor makes a steady 30% return. Third: We will no longer be victims, but take full responsibility for what has occurred, change our ways, and move on.

As is the case with the National Smoke Out Day, it is our hope that some people will go on to to relearn what it was like before they became addicted to credit cards. That feeling of having something paid for. As with any other addiction, we can only empower ourselves to become debt free. Realization that we have a problem is always the first step. Debt Freedom day is designed to help us achieve that realization.

The only way to regain control of your money, is to break the credit card habit. You can break the habit if you control your money. You can control your money by learning to budget and track your expenses and income. To do this you need a budget. If you need help learning to budget visit: American Debt Enders,and look over the website. If you would like to speak in an unpressured, non judgmental way about your situation, we would be happy to listen and offer a plan. Whether it be debt settlement, debt management or even something different, we have options, and they work.

If you have enjoyed this article and would like to subscribe to our FREE FREE Credit Counseling Newsletter,, by all means do so. Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
Help@americandebtenders.com

38. Where Can I Get My Credit Report?

If you would like to obtain a free copy of your credit report you may do so by visiting: FREE CREDIT REPORTand clicking on the Free Credit Report link to the left. If you find that you have debts you need to deal with, or do not know how to read it, just contact the company where the link is found.

While you are there please subscribe to the FREE CREDIT COUNSELING NEWSLETTER. The Newsletter is free, and contains great information about debt problems. Perfect for todays economy.

Yours Truly
American Debt Enders
Steven Ciantro
Help@americandebtenders.com

39. How Does Debt Consolidation Work?

Perhaps the simplest explanation is as follows:
You make one single monthly payment to a third party
Credit Counseling Company. The company lets the banks know
you have enrolled in a Debt Management Plan and sends a proposal
to your creditors, electronically, and requests their new terms regarding
a lower monthly payment, and new lower interest rate be applied to your
accounts. All accounts placed in the program will be closed.

One of the important things to remember about debt consolidation

is that there is no negotiation. Each bank has its own new payback terms.
so, you will be paying back your debt in full, but will also be saving large amounts
of interest. One of the big problems with a debt management program like this
is that the payments may still be difficult to manage, which is why the drop out
rates can be high. If you can sustain the payments, then the plan can be very effective.

If you would like to read more about Credit Counseling and get
a free quote to see what debt consolidation can do for you, please feel
free to visit: American Debt Enders and call us, or leave your contact information and a counselor
will get back to you for a no obligation quote.

If you would like to subscribe to our FREE Credit Counseling Newsletter,
please visit: FREE NEWSLETTER and leave your email address.
We do not share your information, and no one will call you. If you do subscribe
you will receive a Free easy to use, budgeting software to help you gain
control over your money. Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
Help@americandebtenders.com

This article may be reproduced in whole provided the complete signature line
Is included, and including this permission line.

40. How To Get Rid Of Credit Card Debt

Perhaps the number one question asked in the country today. Well, we have answers. How about a Debt Settlement program that is legitamite and works! If you are interested in knowing more please visit: American Debt Enders and click on the Debt Settlement link. Here, you will find a complete explanation of the program, with a full disclosure of what you can expect, no pie in the sky. If you are interested in an alternative debt relief program, that can eliminate your unsecured debt and that is not debt settlement, or debt management or bankruptcy, then click on the Alternative Debt Solutions link or visit: Alternative Debt Relief. Listen to the Audio files, and if you would like to learn more, call us at: 877-766-2465, or just fill out the request for contact form.

It is the goal of American Debt Enders to provide a range of debt solutions to consumers in debt distress, because no two peoples debt situation's are alike.

Written By:
Steven Ciantro
Member National Association of Credit Counselors
Help@americandebtenders.com
877-766-2465

41. Say No To Debt Slavery-Watch This Video

Here is something very much needed for all my readers. I often speak about self empowerment. Of course, in my writings, I focus on how debt freedom leads to self empowerment, which is, of course true. But, being truly self empowered also leads to other good things in your life. But, rather than just my usual article, I thought I would provide a more unique look at how to attain a proper mindset for achieving all your goals in life.

Because if you can achieve debt freedom, than you can start achieving in other areas, and reach the fulfillment of the gifts God gave you. Did you know the bible speaks about money 2,350 times. Yikes! So, it must be important. You do not attain financial success by being greedy or cutthroat, nor, will you achieve debt freedom with any type of negative attitude. So, in keeping with this idea, I present you with the following video. It is an oldie, but goodie. The speaker is Napoleon Hill, Author of the classic "Think and Grow Rich".

Please feel free to pass this along to anyone else you may know that needs a word of encouragement. If you or they needs debt relief help, we can be contacted at American Debt Enders or contact the author directly using the contact information below.

If you are not currently a subscriber to this Newsletter, please visit: Free Credit Counseling Newsletter , and leave your email. to subscribe. Your information is never shared. Now, Click Here To Start The Video

Written By: Steven Ciantro Member National Association of Credit Counselors American Debt Enders Help@americandebtenders.com 877-766-2465 This article may be reprinted in its entirety provided the signature line is included, along with this permission line.

42. Free Credit Counseling Service|How to Read a Credit Report

Many people may be aware that they can access a free credit report annually, but few are able to read it properly. So, in keeping with their mission of helping to empower people to become debt free, they have added a Free Credit Report page to their website.

This Free Credit Report page not only contains a link to the only legally established website for retrieving a yearly free credit report, but also, gives some tips on what to expect from it. Many people are not aware that the free report will not provide a credit score. If you want the credit score, you have to pay a fee. Also, most people are unprepared for the sheer volume of the free credit reports. You can get a free report from all three of the major credit bureaus, Experian, Equifax and Trans union, and each may well exceed 20 pages. Just the volume of the free reports is overwhelming.

To help make the reports useful to individuals, American Debt Enders is now offering to help people read the report. If you need this help, do not hesitate to call them at: 1-877-766-2465. The service is absolutely free.

Written By: Steven Ciantro Member National Association of Credit Counselors American Debt Enders Help@americandebtenders.com

43. Banks Putting Squeeze On Credit Card Holders

Recent tightening of the credit markets has caused banks to start putting the squeeze on credit card holders. In an attempt to limit defaults by credit card holders credit limits are being dramatically reduced. It does not matter that you are and have been paying your bills on time. Banks have indicated that they will be lowering credit limits and changing terms based on economic changes and conditions. Any generalized perceivedrisk can lower your limits.

Why is this a problem? Because a sudden lowering of credit limits will effect your credit score in a negative manner. It's the debt to available credit ratio that will be effected. Additionally, because the drop in credit limits is so drastic, for example, what was once a $5,000.00 limit with a balance of 500.00, is being lowered to $550.00. And, as you pay it down and lower the balance, you will be subject to additional lowering on a whim, or just a perceived risk.

The other problem with this, is, if you are not careful, and do not notice the change, you may use the card and force yourself unknowingly into an overlimit charge, and get additional fees added on. Most assuredly, instead of being more willing to work with consumers, once again, and true to form, the banks are finding more creative ways to both collect more fees and protect themselves from taking a hit. Additionally, if you go over the limit, you will be facing considerably higher interest rates on what little available credit you have left. The banks will be merciless in enforcing these rip off fees. Yes, credit card companies do have to inform you that they are lowering your credit limit, just make sure you read all your mail.

How about that emergency card you keep active and open but never use, because you have it reserved for emergencies. If it is truly inactive, do not be surprised when the bank cancels it. It costs them money to have it inactive.

In addition, those pre-approved offers you get in the mail, will be seeing a dramatic decline. Introductory offers at 0%, will be much harder to find, and if you have sub-par credit you will find it difficult to find a card at a predatory rate. So far, Chase and Discover still have a few deals.

Information source for this story was: http://www.cbsnews.com/stories/2008/10/14/earlyshow/living/money/main4519914.shtml?source=mostpop_story

Steven Ciantro Member National Association of Credit Counselors American debt Enders Help@americandebtenders.com

44. Original Creditor Suing After Account Charged Off

Here it comes, another article on creditor lawsuits. You may be asking yourself why so many articles on this topic? Well, the answer is that if you are in debt then you are in a war. The more accurate information available to you the more weapons you have available to win.

I have seen a great many posts in chat rooms, and other blogs, that is simply not accurate. This is not good. One particular topic which has been and continues to written about is whether or not an original creditor can still retain the right to sue you as the original creditor, after a charge off. For example, lets say Capitol One charged off your credit card account for non-payment 180 days after you made your last payment, and it shows as such on your credit report. Then, out of the blue you are subpoenaed by a law firm, say, for example, Rubin & Rothman, listing Capitol One as the plaintiff. A number of articles on the internet say that this is fraud on the part of Rubin & Rothman, because the account has been charged off by Capitol One.

This assessment is incorrect. Capitol One, unless they outright sell the account for money to a debt collector, still retains the rights of the original creditor, and can hire a law firm to collect the debt.

So, if you find yourself in this situation, and you have already been served a subpoena, make sure you answer it. Please visit the Creditor Lawsuit Resource Page of the American Debt Enders website.

We like comments, so please feel free to post one.

Written By: Steven Ciantro Member National Association of Credit Counselors American Debt Enders Help@americandebtenders.com This article may be reproduced in full provided the entire signature line is used, including this permission line.

45. Handling Creditor Lawsuits

People in debt need serious advise and help in this area. While I am not an attorney and cannot offer legal advice, I can certainly point you to legal resources to help and empower you as to how to handle a lawsuit brought about because you defaulted on a credit card.

Obviously, you defaulted because you did not have the money to repay according to the original terms you agreed to. And if a lawsuit is instituted against you, it is most likely because you could not come to terms with the creditor or the creditors attorney's. People like Rubin & Rothman, Capitol One, and on and on. So, when you are first notified that the debt is in the hands of a collector, or collectors attorney, and talking to them has failed to resolve the matter in an affordable manner, you can significantly slow things down by requesting a debt validation. Click here for samples of a debt validation letter. A well written validation letter, can buy you a great deal of time and maybe even can make the debt go away, if the creditor cannot produce the required information.

If the validation is answered, and you are served a subpoena, then simply answer it. The civil clerk's office of the courthouse where you were sued, can give you everything you need to file an answer to a subpoena from a creditor. It is not complicated, and it puts the ball back in play by you. Once you file an answer, the creditor looses the ability to use heavy handed scare tactics, because your case will most likely go to mediation. This will take time. You can during this time, save up some money, if possible, to go to the mediation equipped to get a fair settlement. If, the amount of the suit is to great, it will give you time to find a lawyer who specializes in Creditor and consumer lawsuits. This is very important. The attorney you hire, must be skilled in this area, or, you are waisting your time. These specialists, often do not charge huge fees, and can work wonders in terms of helping you, because they know the law, and, are most likely known to the creditors and there attorneys.

Some additional points. Whatever you do, do not ignore any correspondence you receive from a creditor, even if it comes registered mail. You are better off dealing with the issue. Do not let a debt collector intimidate you, document in writing all conversations you have with them. If possible, record the conversations. If they violate the Fair Debt Collection Practices Act, and you can prove it, you may be able to offset your debt with monetary damages against them.

It is a sad day when a debtor who has a life crises that does not permit them to adhere to the original terms of a credit card agreement, cannot find cooperation from the creditor. The same creditor who is charging you outrageous fees and interest to begin with. Please do not misunderstand, I am all for personal responsibility. But I am also a believer in morality and ethics. If your creditor will not do the right thing by cooperating in trying to reach a manageable payment agreement with you, then by all means, you need to pull out all the stops when defending yourself.

If everyone in this situation fought back hard, I believe we could change the way usurious creditors and there hired guns operate. Think about it, when the banks experienced a monetary crises they cried like babies for a federal bailout, however, when you experience a legitimate crises, they look to nail you to a wall, rather then cooperate with you. Arm yourself, and win the battle. This article does not constitute legal advice and cannot be used as a substitute for same.

Written By: Steven Ciantro www.AmericanDebtEnders.com Help@americandebtenders.com This article may be reproduced in its entirety provided the signature line including this permission line are included.

46. Legal Resource Page Added To American Debt Enders Website

As more and more Americans seeking debt relief enroll in debt settlement programs or simply default on unsecured debt payments a corresponding increase in collection harassment and lawsuits is taking place. To that end, and in the interest of providing help and resources that are readily available to assist the debt oppressed, American Debt Enders has added a "Creditor Lawsuit Resource page to its website.

You do not have to be enrolled in any type of program to avail yourself of these resources. The site offers links to chat forums in which the debtor can register and ask questions specifically about there own situation and receive a multitude of opinions. Additionally, their is a link to a law firm which offers free evaluation on potential creditor harassment lawsuit situations. If you are being harassed illegally by a debt collector, they will evaluate your situation and if they feel you have a viable case, may well take it on a contingency basis.

The site also contains information on issues related to debt validation letter. A sample debt validation letter is included on the page. The site has been well researched, so that the information contained on it, is truly helpful. Additionally, continual updates and new resources are added on a weekly basis.

The site is unbiased, as American Debt Enders has no relationship with any of the resources listed. So, if you are facing creditor, and creditor lawsuit issues, I strongly recommend visiting the site.

Written by: Steven Ciantro Member National Association of Credit Counselors American Debt Enders help@americandebtenders.com This article may be reproduced in its entirety provided the signature line, including this permission line is included.

47. When Should You Not Enroll In A Debt Settlement Program

As a Credit Counselor and member of the National Association of Certified Credit Counselors, I would like to debunk some untruths regarding debt settlement programs. One of the big issues regulatory bodies are looking at regarding these programs, is not necessarily the programs themselves, but, the fact that companies are signing the wrong people up for these programs for the wrong reasons. This author has a background in both the non-profit and for-profit debt relief worlds, and as such, have seen just as many people signed up for debt management programs where the dropout rate is very high, for all the wrong reasons by non-profit organizations. This is in large part, because they can only offer a debt management program and not debt settlement.

What are reasons not do enroll in a debt settlement program? First, and foremost, a bad reason is that you have accumulated significant credit card debt and would rather not pay it back, even though you can afford the monthly minimums. From a moral perspective, this is just bad and you are setting yourself up for bad karma. Another bad reason, might be, that you lost your job or a second income and fell 30 days behind on your credit card payments. The first thing you need to look at, if this is your situation, is, your budget. What are you spending money on, and where can you cut back, even if it is a bit painful. Oftentimes, carefully cutting back is possible and will make the difference in terms of your ability to start making minimum payments again.

You should always look into a debt management or debt consolidation program if the above situation applies to you. You will have a good possibility of getting lower interest rates and possibly lower minimum payments each month, although, this is getting harder and harder to do. If after careful examination of a debt management program, it still looks realistically improbable, then, you may want to consider a debt settlement program. Debt settlement programs work, but are tricky, and need to be entered into with eyes open. However, if you cannot pay your monthly minimums and are in a genuine financial crises, this program may be just the thing and will help you avoid a bankruptcy.

If you do go forward with a settlement program, do everything you can to judgement proof yourself, as it is possible to get sued while in a settlement program. A good settlement company will always advise you on what to do if this happens, and will always try to speak to the creditors and convince them that a lawsuit might just push you over the edge and into a bankruptcy.

The bottom line to all this is, do not enter into a debt settlement program simply because you want to save money or avoid your responsibilities. If you have enjoyed this article and would like to subscribe to our FREE Credit Counseling newsletter, simply visit: Free Credit Counseling and subscribe. We do not ever share your information. Written By: Steven Ciantro

48. Don’t Look For Debt Relief From Credit Card Rules Change Legislation

By now every credit card holder has experienced the following scenerio. You have very good credit, pay your monthly credit card bill like clockwork but then receive a letter telling you that your interest rate is going from 7% to 21%. You call the credit card bank thinking this is surely a mistake, only to be told it is not an error, and due to changes in the general market they have raised your rate. Not to worry, it doesn’t mean you are a bad person, it’s just the way things are.

So, to remedy this the Federal Reserve has proposed new rule changes which would change the way banks currently do business. The rules proposal may take effect as early as the end of 2008. What is proposed? For one thing, banks would no longer be able to hike up interest rates on existing debt, Also, card companies would have to split required monthly payments evenly between the high- and low-rate balances on a card. (Currently, card companies allocate payments to the lowest interest-rate balance first, which leaves a lot of cardholders unable to make a dent in balances at higher interest rates. That's a recipe for rapidly accruing interest and a feeling of helplessness about managing debt, say cardholders. Additionally, cardholders would get a longer grace period.

So, reading this you say finally! Well, not so fast. As reasonable as the changes sound, the banks are not fond of them. In fact, their position is that, if the proposed rules go into effect, they will be forced to simply stop offering low interest cards. That’s right, now they say as a result of this misguided attempt to reign there rip-off practices in, everyone will now have to suffer. The banks have posted their response on the Federal Reserve Website.

So, what is the bottom line? The more things change the more they stay the same. There is still time to get out of debt. If you can, debt settlement , if not debt management, but do not look for any help from anyone else. Empower yourself with debt freedom. Written By: Steven Ciantro American Debt Enders Certified Credit Counselor Help@americandebtenders.com

49. How To Create A Debt Management Program

Yes, it is possible to create your own Debt Management Program. It will take some self motivation on your part, and knowledge of a few guidelines. The purpose of this article is to provide you with those guidelines. This will only work if you have enough money every month to at least cover minimum payments.

First, evaluate your current unsecured debt status by pulling out all of your statements. Get a pen a paper and write down your balances low to high, and corresponding interest rate and minimum payments. Also, and very importantly, look at the statement to see if you have or are being charged for "Credit Card Protection Insurance". This is an insurance policy many credit card companies slip in for a monthly fee of anywhere from 5.00 to 15.00 per month. It is supposed to protect you in the event you can no longer work, not if you quit your job, by making the minimum payments for you for a period of time. These policies are full of swiss cheese holes, and not worth it. If you find you are paying for a policy like this call your credit card company immediately and cancel it.

Second, check the interest rates you are currently paying. Chances are you may not be able to negotiate a lower rate on your high interest cards, but, it is worth trying, especially if you have a good payment history.

Third, make a Monthly Budget . You need to be sure you can stick to the plan and the best way to do this is to layout your monthly income and expenses. Try to find unnecessary expenses so you can apply more money to your monthly payments.

Fourth, Realize that you are no longer going to use any of the credit cards you want to pay off--absolutely no cheating, or this will not work. Keep out one card which is going to be your only credit card.

Fifth, You are going to pay the same minimum amount of money every month until all the cards are paid off. Starting with the lowest balance, only because when you pay it off you will feel a sense of accomplishment and want to keep going. On the first, lowest balance card try to make the minimum plus, 50.00 per month and on all the other cards just the minimum. The extra 50.00 is equal to the fee you would be paying to a debt management company and you should have little trouble finding it, if you are motivated. When the first card is paid off, apply all the money you were paying on it to the next card plus the minimum payment on that card. Repeat this process until all the debt is cleared up.

A note of caution, do not close any of the cards as this will lower your credit score. This approach works best if your interest rates are not higher than say 18%. If they are , you may want to consider enrolling in a debt management program to get them lowered. If you are behind on your payments and are having trouble meeting just your monthly minimums, then, you may want to explore a debt settlement program

Written By: Steven Ciantro American Debt Enders Help@americandebtenders.com Member National Association of Certified Credit Counselors

50. New bestdebtsettlementcorp.com Websites Released by American Debt Enders

American Debt Enders a marketing and debt counseling affiliate of Consumer Debt Solutions has just released new affiliate websites for its affiliates. American Debt Enders is not a direct provider of debt settlement, Debt Management or Credit Restoration services, but rather a debt counseling Company offering multiple debt solutions through its contractual relationships.

Affiliates are mortgage, real estate professionals and attorneys who encounter individuals with serious debt problems in the course of there primary business. They have all been thoroughly trained in the areas of debt settlement and debt management.

The new individualized websites help explain the various programs offered and provide contact information to that affiliate. Written By: Steven Ciantro American Debt Enders Member National Association of Credit Counselors

51. The Need For Debt Settlement Will Be Around For A Long Time

So congress passed and the president signed the most far reaching mortgage bailout bill in history last week. Lest anyone should think that this bill will change anything soon, please think again. Why? Here are a few facts about the bill. Currently , there are two million homeownners facing foreclosure. This bill will help only 450,000 of them. The bill does nothing to restore equity in the housing market. Banks are not mandated to lower interest rates and rewrite loans.

According to the IMF, no turnaround for the housing market is in site. Our ecenomy will continue to effected for years to come. The current rash of ecenomic problems in the US is not just a blip on the radar, but rather very far reaching. The full effect of the shrinking dollar and future inflation fears have not yet begun to rear there ugly heads. The US currency is becoming a third world value.

If you would like more information on debt and debt settlement and debt management solurions please visit American Debt Enders. If you would like to subscribe to our FREE Credit Counseling Newsletterwhich contains unbised information on self empowerment through debt freedom. If you subscribe you will receive a Free Budgeting Software to help you gain control over your money.

Also, if you are struggling to make ends meet and need credit restoration services or a bad credit car loan for a new car, the visit Credit Restoration

Written By: Steven Ciantro Certified Credit Counselor Member National Association of Credit Counselors American Debt Enders

52. Debt Settlement-Tax Ramifications-What's The Real Deal?

As you may or may not be aware one of the arguments put out by those opposed to debt settlement programs is that in the end you will not save money because you have to pay taxes on the portion of the forgiven debt. So here is the truth concerning this point.

It is true that creditors are required to report forgiven debts in excess of $600.00 on form 1099 to the IRS. While it is required, it does not always happen. So, what about when it is reported. Well lets look at the facts. The fact that you are required to report the savings in the first place means that you saved a considerable amount of money. Additionally, the fact that you had to enroll in a debt settlement program also means that you are probably just getting by, even though you have thankfully resolved your debt or debts. That means that the great majority of people who settle their debts are not required to pay taxes on the forgiven part of the balance. That's because of the "insolvency" rule, described in IRS Publication 908, "Bankruptcy Tax Guide." Don't let the title fool you. You don't need to have filed a formal declaration of bankruptcy to take advantage of the insolvency rule.

Insolvency basically means that you owe more than you own.It does not mean you are bankrupt, and it is easier to claim insolvency than you may think. If you have enough equity in a home (or other property) to outweigh the total of your liabilities (debts), then you have a positive net worth, and will likely have to pay taxes on the forgiven debt amounts. However, the majority of people in serious debt trouble have a negative net worth, and are therefore insolvent. The way it works is that you can offset the canceled debt up to the amount by which you were insolvent at the time you did the settlement.

Remember, your goal is to achieve self empowerment through debt freedom. If you are in a settlement program and need more information on this topic, please consult your tax professional for guidance.

Written By: Steven Ciantro Certified Credit Counselor Member National Association of Credit Counselors 516-476-5903

53. Can't Do A Debt Settlement Program Because Of a Creditor Lawsuit? Try This.

Quite often debtors wait for a precipitating event before they seek professional help. Whether that be a debt settlement program, debt management program, or some other debt reduction solution. Well. if you have already been sued by a debt collector on one of your debts and are know unable to place that debt into a pro0gram, you can try the following debt validation technique. Which basically is enforcing your rights under the Fair Debt Collection Practices Act.

The following is a draft of a letter you can use to answer either a complaint by a creditor that has already served you, or your first notification from a collector.

Here are the basics of the letter: I am writing in response to your (letter or phone call) dated {insert date}, (enclose a copy, if you have a copy) because I do not believe that I owe what you say I owe.

This is the first contact I have had on this matter therefore, in accordance with Section 809 - Validating Debts of the Fair Debt Collection Practices Act, I request that you provide me, the following, in writing.

Provide me with information on how you calculated the debt you say I owe; Provide me with copies of any papers that show I agreed to pay the debt you say I owe; Identify the original creditor-What the money you say I owe is for; Provide a verification or copy of any judgment (if applicable); Show me that you are licensed in my state, and provide me with your license numbers, (If Applicable).

Be advised that I am exercising my rights under the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, which are as follows:

You do not have to respond to this dispute except to tell me that you either intend to cease your collection efforts or to pursue other legal means of collecting this debt. You cannot add interest or fees accept those allowed by the original contract and state law. Any attempt to collect this debt without validating it, violates the FDCPA. If you choose to pursue a judgment without validating this debt, I will seek dismissal based on your failure to follow the FDCPA. Be advised that it is my intention to record all phone calls, keep all correspondence and will not hesitate to report violations to my State Attorney General, the Federal Trade Commission and the Better Business Bureau.

Since I have disputed this debt; until validated your information concerning this debt is inaccurate. Thus, if you have already reported this debt to any credit-reporting agency (CRA) or Credit Bureau (CB) then, you must immediately inform them this debt is in dispute. Reporting information that you know to be inaccurate or failing to report information correctly violates the FCRA § 1681s-2.

If you do NOT own the rights to collect this debt, I demand that you immediately send a copy of this dispute letter to the original creditor that you say I owe money too so they are also aware of my dispute with this debt.

In accordance with section 805(c) - Ceasing Collections, of the Fair Debt Collection Act, do not contact me about this or any other matter, except by official mail and then only to advise me that your debt collection efforts are being terminated or that you are taking specific actions allowed by law.

Well thats it.

Note: This letter was not written by me as I am not an attorney. It is however a valid debt validation letter and can be found in many areas of the internet in various forms. Written By Steven Ciantro American Debt Enders Member National Association of Certified Credit Counselors

54. Debt Management, Debt Settlement Bankruptcy And Your Credit Report

Americans have become addicted to the concept of the "Credit Score". The first question people ask when they are buried in debt and seeking a solution is: How will this effect my credit score? This is a perfectly valid question, however, it is usually asked by individuals with very low scores due to missed payments and mountains of debt, whose credit profile is more of a debt profile. OK, fair enough you say, but what about those individuals who may have very ideal credit scores and still have mountains of debt that suddenly accumulated through real fault of there own.

Here are the answers. If you enter what is commonly called a Debt Management Program, where you will pay back all your unsecured debt in full in about 5 years, at slightly lower interests rates, the impact will be as follows. You will receive a notation on your credit report which will say "account is managed by a DMP". This alone is not used as a calculation in your FICO score. However, your credit score will drop. Why? Because you will be closing your unsecured tradelines (credit cards) and anytime you do this you not only effect your debt to available credit ratio, but also effect negatively your credit history. These two occurrences can effect your score by potentially a whopping 40%. It is not uncommon for Debt Management companies to tell you about the statement on your credit report but not about the rest. As you start to eliminate and paydown some debts your score will then begin to improve.

If you enter a Debt Settlement Program, your credit score will also initially be negatively effected. In this type of program you will be paying a law firm or debt settlement company to be the intermediary between you and your creditors. They will be taking a fee, usually the first number of months of your payments and then put your money into an escrow account to be used to make settlements which they will negotiate on your behalf. Since during the early phase of this program your creditors will not be receiving money, they will look to put negatives on your credit report. This, of course, will negatively impact on your score. Of course, most people who utilize this type of program already have very low credit scores. If you are starting this program with a high credit score, then know that your credit score will drop in the early phases of this program. As settlements are made and your credit report reads "settled as agreed", as settlements are made, then the negative impact of doing the program will lessen considerably and your credit score will begin to improve as each settlement is made. Note: If you enroll in a debt validation/debt settlement program then negatives which were placed initially on your credit report may actually be removed as part of the settlement agreements.

What if you file Bankruptcy? Many misconceptions surround a bankruptcy and its effect on your credit score. If you file a personal bankruptcy, your credit score will drop. Again, as with the previous programs, this may be of little consequence, because your score may well have already dropped due to the debt situation. In all cases, after the bankruptcy is discharged by the courts, meaning, the filing is complete, you will begin receiving in the mail credit card offers. Why? Because the banks know you have to wait a full 7 years to file any second bankruptcy. The initial offers will be at very high interest rates. You will probably also be able to finance a car. Again, it will be at a very high interest rate. After 1 year, if you are wise and use your very expensive new credit wisely, you will after a year get slightly better rates. And, after a second year, even better. In terms of refinancing or purchasing a new home, a foreclosure is much worse on your credit report then any of the listed solutions in this article. Many banks will allow a refinance after a bankruptcy, of course, the rate will be less than ideal.

So, to sum up. Of course all three of the above listed programs will, depending on where you started, negatively impact your credit. Is this a reason not to do them? Not if you are in a dire debt situation. Written by: Steven Ciantro Credit counselor AmericanDebtEnders Help@americandebtenders.com 516-476-5903 This article may be reproduced in its entirety, provided the full signature line and this permission line are used.

55. Voice Added To ADE Debt Settlement Website

In the interest of making its website more personalized among the many credit counseling websites offering debt settlement , credit counseling, credit restoration and debt management services, American Debt Enders has placed a voice over on its landing page. Because credibility is such a major issue in the free credit counseling area, the hope is that a message from a real person will at least put people enough at ease to contact ADE for advice.

Since all of our consultations are completely free and without obligation, debtors can have at the very least an ability to have there questions answered and hopefully be able to get a direction and a plan for dealing with there debt.

I have absolutely no doubt that the coming years will be very difficult ones for many in the US. Things are changing rapidly. The days of cheap energy will not return for some time to come. Coupled with the fact that the dollar has weakened to third world currency status and things are going to get more difficult. It is with this in mind that every credit counselor and credit counseling organization whether for profit or non-profit should be putting out an urgent call for people to achieve self empowerment by learning to live a debt free life. This is serious business.

A visit to the American Debt Enders website will also invite the user to subscribe to our Free Credit Counseling Newsletter which is connected to our blog feed. Taking advantage of out Free subscription will get the subscriber Free Budgeting software which they can use to gain control over there daily and monthly finances. Additionally, anyone in need of a bad credit car loan should take full advantage of the credit restoration program offered by American Debt Enders in conjunction with VR Tech . A client can get a bad credit car loan and then enroll in the program to get their credit fixed. Written By: Steven Ciantro American Debt Enders Help@americandebtenders.com

56. Exactly When Do Your Creditors Get Paid In A Debt Settlement Program?

So much confusion surrounds this issue, that it is time for this article to be written, and hopefully read. When debt settlement bashing takes place by the less informed, it almost always contains the following “I was told to stop paying my creditors and just pay them (them being the settlement company or settlement attorneys) but they just kept the money and never paid my creditors. Another one is “I owed more money after 6 months, then I did when I started the settlement program”. Do these statements mean that the settlement program was a scam? The answer is, no, at least not based on the former two assertions.

Debt Settlement can be tricky business, but it also can be an absolute lifesaver. The key is understanding the settlement program guidelines. So, to answer the title question, your creditors do not get paid on a monthly basis in a debt settlement program. And sometimes your creditors, whether the original creditor, or a collector can be less than cooperative. In a debt settlement program a monthly payment is made to the debt attorneys or the settlement company on a monthly basis. That money is used to do two things. 1-pay any fee you are being charged for the service , and two-accumulate in a savings account or settlement trust account until it reaches enough money to settle one of your debts. Did I say one? Yes, unless you have a bunch of money to fund the actual settlement account, the money has to accumulate and then each of your creditors is settled with. Again, except for unusual circumstances, your creditors will not be receiving any monthly installments. So, they will be reporting you late on your credit report and probably still attempting to collect the debt, to varying degrees.

All of the fees and the exact distribution of money that you pay and where it is going must be completely disclosed to you at the outset of the program. If it is not, I suggest you run for the hills and find another settlement company. A reputable settlement company will make full fee disclosure as well as any guarantees at the outset. They will also make a full program disclosure, things like, how will this program effect my credit report. Will I receive creditor phone calls? How should I handle credit and collection phone calls? If you are currently paying your unsecured debt on time, and expect to be able to continue to do so, then enrolling in a debt settlement program because you want to save money, is very foolish, and you are only inviting trouble. Debt settlement programs are for people who are drowning in debt and cannot make minimum payments, and are not candidates for bankruptcy or have a moral aversion to it. If you need credit restoration services after the program is done please visit: The programs work, but please go in with your eyes open, and maybe we can together stop the naysayers and propagandists.

If you enjoyed this article please subscribe to the Free Credit Counseling Newsletter by visiting: and subscribing. It is free and we never share your information. Written By: Steven Ciantro Member National Association of Certified Credit Counselors American Debt Enders Help@americandebtenders.com

57. The Case For Debt Settlement

With the proliferation of unsecured debt problems has come the growth of debt settlement companies. Much has been written on this topic, just as much has been written about Debt Management Programs, also known as credit counseling. Frankly, some of what has been written has been done to put out propaganda by both sides. What do I mean? Well, frankly, the non-profit industry, which is controlled by the banking industry, has had a vested interest in seeing debt settlement companies go away. They are looking to get all of the debt paid back, plus some interest, whenever possible.

The non-profits would rather not have the competition, yes, they are businesses and please do not let anyone persuade you otherwise. Just like in any other business there are good and bad, and the good ones do serve a vital function. There is much more to debt settlement than just paying back less than you owe in lower monthly payments over time. There is a real psychological benefit to many of these programs, and a real benefit to the bigger economic picture.

When most people are oppressed by a debt problem, it creates an imbalanced emotional situation, and eventually the debt takes over other areas of their lives, Things like work, people relationships, relationships with their children, and on and on. Not to mention, they tend to feel like disempowered failures. It does not matter that the debt has been caused by some unforeseen catastrophe, it only matters that they have lost control.

Many of these people can no longer afford the high payments of a debt management program. The cost of gas, the devaluing dollar all have contributed to this widely expanding problem. Many people can no longer qualify for bankruptcy. What if they can qualify for bankruptcy, but opt instead for debt settlement, and so many people do. Ask yourself, why would a person who qualifies for a chapter 7 bankruptcy, where you get to just walk away from the debt, instead opt for a debt settlement program?

I believe I know the answer. It gives people back control over there bad situation. How so, you ask. Well, when they enroll in debt settlement they are paying back about half of there debt, and doing so in affordable, regular, the key here is regular monthly payments. Yes, it is true that the creditors do not receive any money until a settlement is reached, but that is not the issue. The issue is that they are once again, establishing disciplined monthly payments and have a financial plan to resolve the debt. They feel better, because they have not chosen to simply give up and file a chapter 7 bankruptcy.

Please do not misunderstand me, there are times when a bankruptcy is the only viable alternative, just as there are times when a debt management program is a best alternative.

But, debt settlement definitely has its place. Not to mention, creditors are at least getting back some fair percentage of there money. Written By: Steven Ciantro www.americandebtenders.com Member National Association of Credit Counselors Help@americandebtenders.com

58. Cabinet Refacing On Long Island

For over thirty years IKS Kitchens has been providing outstanding service to Long Island, Brookly and Queens homeowners looking to upgrade their kitchens with top quality and lower cost. IKS provides this solution by providing expertise in the area of cabinet refacing and granite countertop design and installation services. Great care is taken in consultation with the homeowner to insure a kitchen design with outstanding results. Even if you decide not to go forward you will be smarter after the consultation than before.

Do you really want to deal with an impersonal chain where the salesman are constantly revolving, or would you rather deal with the owner of the business himself, who is going to guarantee a positive outcome for you.

When you think Cabinet Refacing, think IKSKitchens.

59. Cabinet Refacing on Long Island

IKS Kitchens located in Rockville Centre, NY services Long Island , Brooklyn and Queens with outstanding service and knowledge in the area of cabinet refacing and granite countertops. The company has been in business for over 30 years and prides itself in excellent service.

So, if you are considering a new kithcen or kitchen upgrade let IKS give you a free no obligation quote, and see what they have to offer.

60. For Profit Credit Counseling Companies Becomming More Prevalent

Here are some facts about For-Profit credit counseling companies that counter the rediculous arguments put out by the non-profit industry to combat competition. To date, 9 states have removed the non-profit requirement for companies performing Credit Counseling and directly offering Debt Management Programs. Thirty nine states already allow for-profit credit counseling.

There is absolutely no evidence that for profits have hurt the industry, in fact, for profits must operate as efficient business's because they pay taxes. Non-profits do not.

Regarding Debt Settlement, which is becomming a much morepopular program due to its greater viability in the form of lower payments, the industry is also getting its act together. The simple fact is, debt settlement programs work. The key is to insure that the client completely understands how the program works in the form of full upfront disclosures, and ongoing customer service.

So, if you are looking for a debt reduction program, do not buy into the propaganda about non-profit companies. Yes , they also can do a fine job, however, they tend to be quite limited in the programs they can offer. For -profit credit counseling companies usually, can offer both debt settlement, and debt management programs as well as credit restoration programs, and even more services.

So, if you are looking for debt help, go with the company that offers the best program for you, because, no two peoples debt problems are alike. Written By: Steven Ciantro www.americandebtenders.com http://freecreditcounselingblog.typepad.com/creditcounseling/ http://www.vrtechmarketinggroup.com/aciantro/ Member National Association of Certified Credit Counselors

61. If Your Credit Counselor Can Only Offer You One Solution, Find Another Counselor

Having just completed my recertification as a Nifce certified credit counselor and member of the National Association of Credit Counselors, I noticed that the banks actually created there own definition of credit counseling. As amazing as it seems, if you tell a banker from the credit card industry that you are going through credit counseling, they think that you mean you have enrolled in a debt management program, which they control. If you say you are being counseled about the difference between debt management and debt settlement then the banker would comment that this is something other than credit counseling.