If you have a credit card debt so high that it can not make monthly payments of all obligations, debt payments could be his exit. But it is not likely to see or listen to any newspaper or television stories on this topic.
Journalists feel your pain but do not seem to understand. After sampling the stream News accounts regularly on the subject, seems to not want. If any did, might make an effort to actually talk to someone in the business clearance debt.
Research is a forgotten word in newsrooms?
Full disclosure: I'm in the business of debt repayment, have been for years. But this is not about me, it's about you and vital information that could help you out of debt – but only became public. The credit card debt is causing serious problems, and we need better information on all possible solutions.
I have yet to see mention of a good company According to a news article, and there are plenty of them. But it seems that journalists have their minds made up before they start.
Two recent articles in national publications illustrate my point, one by an associated press reporter and one in the U.S. today. I'll arrive to a minute, but first a little basic information that any good specialist debt payments would say that when talking about the credit card debt or other unsecured debts.
* It is not for everyone – in general, is for people with more than $ 10,000 in unsecured debt that they have found a difficulty, such as divorce, job loss medical bills or making it impossible to keep up with their financial obligations;
* Play a significant and legitimate role in helping these people reduce the credit card debt and regain control of their lives;
* It has gained acceptance since 2005, when new bankruptcy laws chapter did 7 quite impossible for most people, and
* Better Business Bureau receives complaints of a less popular alternative, credit counseling, and resolves successfully a higher percentage of them.
Are there bad companies? Of course there are, but some journalists seem to think "bad" is the only type. Come to the specific.
Important information is lacking in the Associated Press Story
A recent article by Candice Choi, Associated Press, has run in publications online and outside the nation. It is typical of the current implementation of Articles – incomplete and only partially of origin.
Choi thoughts or quotations not attributed to anyone in the industry of debt settlement he was writing. Instead, it quotes extensively from an executive of the Foundation National Credit Counseling, and provided a link to the NFCC website. Industry debt counseling from NFCC, was established by banks and companies credit card. Its purpose is legitimate and important. But does anyone think that an organization founded with the support of the bank interest will put his stamp approval in a legitimate and very effective alternative method for reducing credit card debt? Do not hold your breath.
There was no mention of the Association of Settlement Companies (TASC), the professional association for the debt settlement industry. Choi may be tried Contact TASC, maybe not. If he had done and not get a response, it seems that she would have mentioned that in their history.
Midway to U.S. Today
On 21 July 2009 in the U.S. Today's article Sandra Block receives only slightly higher, incomplete, and offers assistance to people with a credit card debt. She used a quote nominally favorable to the industry of debt settlement:
"For some borrowers with debts too large that can not be repaid within three to five years, a well known debt settlement company can offer an alternative to bankruptcy, says Gerri Detweiler, an adviser Credit for Credit.com, a site of consumption. "
That has been more impressive had not previously Block compared our industry for the weight of a "loss product that makes you gain 10 pounds."
For additional information on the solution credit card debt, collectively referred readers to debtadvice.org and Association Web Site Independent Consumer Credit Counseling Agencies. TASC did not mention, much less provide a link to the website of that organization.
Block identifies four "red flags / warning signs" to look out for if a person can be aware of debt settlement. The four points were valid that helped make history on the problem of credit card debt accurate, but not quite true.
Red Flag Green Flag
Block would have been more informative article that had raised some "green flags" to indicate the characteristics of good companies. Y Choi had done a more thorough investigation, which might have found some positive attributes such as these.
Prestigious Business Solution Debt:
* Explain the advantages and disadvantages in front, clearly indicating that the debt settlement is not for everyone;
* Maintain client involved in every decision of liquidation rather than by the customer decide the order in which debts are settled;
* Explain clearly what the costs are, and collect their fees for a period of months so that the client is not affected at once, and
* Adopt a comprehensive, independent audit to achieve accreditation of "Best Practice" member status of TASC.
I have yet to see any of these points mentioned in an article news of national security and credit card debt. Why is that? When reporters called someone in our industry to provide input to their stories?
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