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

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. 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

10. 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

11. 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

14. 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

15. 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.

16. 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

17. 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.

18. 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

19. 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

20. 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.

21. 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.

22. 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.

23. 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

24. 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

25. 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

26. 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

27. 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

28. 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

29. 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

30. 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.

31. 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

32. 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

33. 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

34. 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.

35. 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.

36. 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

37. 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.