Send a Message
to debtlady




Oct 11, 2010

debtlady Profile

Forums Owned

Recent Posts

Credit Card Debt

Payday loans growing problem

Well..if you have children to fee, emergencies to take care of, and other issues, and have fallen on very hard times with nowhere to turn, where do you go? Yes, some payday borrowers out there know exactly what they're getting themselves into and still make the decision to borrow anyway. But others are vulnerable citizens who are just trying to make ends meet. Either way, the ridiculous fees and interest going to these loan sharks could be spent in much better ways. For example, at least pouring some of those funds into the suffering economy through consumerism or small businesses...The bottom line is that payday lenders need to be federally regulated.  (Nov 5, 2010 | post #101)

Credit Card Debt

Credit card debt drops

Don't be fooled. Anybody that advertises 'the best solution to make yourself debt free' isn't telling you the truth. In reality, getting out of debt is strenuous work. If you are in over your head and simply can't make even the minimum payment, you may want to look into a reputable debt settlement company. Reputable in this case means that they do NOT accept fees before they actually settle one of your accounts. I had a friend with around $16,000 in cc debt, and decided to use a debt settlement company that ended up being a scam. Luckily he only lost about a grand in the company's fees. So, he ended up trying out a different company called Superior Debt Services. Luckily they secured him a settlement for around 60% of the $16,000 card balance. So..anybody who tells you they can make you completely debt free is lying. Even the good companies can in reality only settle for a portion of what you originally owe, not get rid of the entire thing. Anyway, best of luck to anyone trying to get out of cc debt.  (Nov 5, 2010 | post #8)

Credit Card Debt

Debt Counselling can help reduce everything

How long would you say it normally takes for a consumer to successfully complete a credit counseling program? Another possible option for consumers looking to get out of debt is debt settlement. But, not just any settlement company. I have a friend who was knee-deep in credit card debt, about $12,000 or so, and went with a debt settlement company who was no help at all. They ended up taking too many fees without actually settling any of his accounts. But, just learned that a new FTC ruling just went into effect that bans debt settlement companies from taking fees upfront. They actually have to settle at least one of your accounts before they can charge you for their services. With that in mind, debt settlement may be a great option for those looking to get out of debt. Just make sure you check out the company's credibility before deciding to work with one. A company that my friend was referred to after his bad experience was Superior Debt Services, and they were able to get him some settlements within a year of enrolling. He should be completing the program within the next year. Anyway, it's worth it for debtors who really can't keep their head above water or are dealing with a serious hardship to look into a reputable debt settlement company.  (Nov 3, 2010 | post #4)