Debt Relief & Management Tips : How to Apply for Free Government Grants, Loans, & Scholarships
Are the debt relief programs for real or just a scam?
I owe $50M in credit card debt. Can I negotiate a settlement myself just as well as the debt relief companies advertising all over the media?
Are they for real or just a scam?
Watch the video related to debt relief
The government has many websites to apply for free grants, loans and scholarships. Find out more about each grant option with tips from a consumer credit counselor in this free video on personal finance management. Expert: Maria Enomoto Contact: www.gotdebt.org Bio: Maria Enomoto works as a credit counselor for Consumer Credit Counseling services in San Jose, California. Filmmaker: Bing Hu
Let’s discus about debt relief
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Tags: budget planning, budgetting, debt relieft options, debt solutions
This entry was posted on Sunday, December 13th, 2009 at 5:03 am and is filed under Debt Management. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
18 Responses to “Debt Relief & Management Tips : How to Apply for Free Government Grants, Loans, & Scholarships”
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Debt consolidation can be a really useful tool for many people, the key is of course to do a little homework and make sure you’re not dealing with a rip off merchant.
consolidationnetwork . com
has many useful links for debt consolidation comapnies
CareOne offers two services: credit counseling and debt settlement. Being enrolled in a debt management program would cause your credit report to state "enrolled in debt management." This does not specifically damage your credit rating but it would make it virtually impossible to qualify for new credit while you are enrolled in the program…but that's the whole point of being enrolled in a debt management program to begin with…to stop using credit.
CareOne also does does debt consolidation/debt settlement. Stay away from any "debt consolidation" company that promises to cut your debt and payments in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator's fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.
Many people who sign up with “debt consolidation” firms incorrectly assume that they have the power to force your creditors to accept settlements…they don’t. Your creditors have the right to refuse settlements and take you to court.
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If you want to enroll in a non profit debt management program then I would advise to use the real one….CCCS. Contact your local Red Cross for a referral to the local Consumer Credit Counseling Services (CCCS). They can negotiate reduced interest and payments. They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to "enrolled in debt management." This does not damage your credit, but it may make it difficult to obtain new credit while you are enrolled in their program….so don't use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would might be denied while you're enrolled in the CCCS debt management program…
CCCS counselors will often tell people to not file for bankruptcy when they really should. If your debt is overwhelming relative to your income/assets and the reduced payments negotiated by CCCS simply will not work, then you should think about filing for Chapter 7 bankruptcy
There should be a non-profit Credit Counseling Services in your area. I can really empathize; mine was as high as $33,000, but thank God, it's gone. I felt like I was fighting all the forces of heaven, hell, and earth all the time.
Te felicito por tu valiosa info.
Q, Debt relief is a difficult issue many americans are now experiencing. Every legitamate debt relief service providers will consult with you for free. http://www.debtreliefreview.com Try calling serveral debt relief services and inquire about your questions and compare thier answers. You will be able to tell which ones are providing helpful advice.
It's very simple… they take your money and then you owe more. there is nothing they can do that you can't do by yourself. It's all a scam.
If you are in a bind try contacting your creditors, many of them have hardship programs they can set you up on. Another option is CCCS, they will contact each of your creditors and submit a proposal which generally lowers your monthly payment and interest rate. I would not go to a Debt Settlement Company or Attorney. I work for a large global bank and we are done dealing with them. We've sent them letters advising them to stop taking on our Customers, and they continue to do so. They brainwash the Customer into thinking they will take care of everything. They tell these people not to answer their phone or open their bills. I know of three global banks that will not deal with them…Citi, GE Money, and Bank of America. Our company has taken a new stance…If we receive documentation from a debt settlement company along with a cease and desist we refer it to our attorney network to file the paperwork in your local court to try to obtain a judgement. So….I wouldn't suggest one of those companies. CCCS or contacting your creditors directly is your best bet.
thanks for you help.
Debt relief is a difficult issue many americans are now facing. Every legitamate debt relief service providers will give you advice for free. http://www.debtreliefreview.com Try visiting serveral debt relief services and inquire about your questions and listen to thier answers. You should be able to tell which ones are providing shady advice.
Hope everything works out.
I want everything to be free instead of paying for every single fucking material.
who can help to pay $400 first and I pay you back? they need to charge $400 first.
It depends. Many debt relief companies out there are scam. Even the non profit one. The one I recommend is http://www.loansmarter.com/creditsolution , they are the best in the industry. This year alone they settled $200million in debt and last May they received Ernst & Young awards for their accomplishment.
I called but they asked for $400 first. Do you believe it?
Seems that this information is true and correct. Thank you for posting this video !
Mortgage foreclosure is still considered to be taxable by the IRS.
excellent work!
Don't use them, for one most of them are a scam, for two, if you go into consumer credit card counseling it reports on your credit, and some lenders think negatively of it.
First things first, you obviously need a budget, stick to it, pay off as much as you can off, I'm sure you're getting hit with huge interest rates, you can look into consolidation but, alot of credit card companies offer 0% for the first 12 months, but make sure you know what it is after the 12 months!!!
Other than that budget yourself according to your income and stick to it, most of those companies are scams so stay away if at all possible!
I’m sure you all would love a handout.