We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.
We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.
On the other hand, we provide free services to significantly help to minimize the risks that are involved in negotiating with your creditors.
First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.
Next, we provide a comprehensive credit repair service to all our clients. This is a 5 service that is absolutely free!
Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.
Last, we provide a written guarantee that our clients' creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.
Our services are competitively priced- and include the above free services!
Joseph Hernandez CEO Debt Free Solutions www.debtfreesolutions.mobi (800) 668-8090
Showing posts with label Debt. Show all posts
Showing posts with label Debt. Show all posts
Monday, December 17, 2012
Tuesday, December 11, 2012
Debt Arrangement Schemes in Scotland
Bankruptcy has always been considered to be the last resort for people having debt problems but these days there are other options that one may need to consider. In Scotland there is what they call a Debt Arrangement Scheme (DAS). It is basically a formal arrangement entered into between a debtor and a creditor to pay off multiple debts within a certain period. The good thing about this scheme is the fact that your assets are protected as long as you make your payments on time.
The parties involved in this arrangement are the debtor, an Approved Money Advisor and creditor(s). It is a legal requirement that a Debt Arrangement Scheme is processes by a qualified Money Advisor as they have the necessary skills ans qualifications to ensure that your case is handled professionally.
Who qualifies for a Debt Arrangement Scheme?
In order to qualify for this scheme you must be a Scottish citizen and you must also have at least 2 debts. If you are bankrupt or under a bankruptcy restriction order it may be difficult to qualify for this scheme as is with individuals who have got protected trust deeds in place.
What are the advantages of a DAS?
The advantages of a Debt Arrangement Scheme are that you can only pay what you can afford over a certain period of time. The payment is made as a single payment to a qualified Money Advisor and they will then divide the payment between all the creditors on a pro rata basis. You do not have to deal with creditors directly; your Money Advisor will do this for you and take care of all the negotiations and administration on your behalf.
Will my house be repossessed?
In addition to that you will have legal protection against all creditors. Your house can not be repossessed during arrangement period as well. All interest charges are frozen from the day the application is approved and will be written off when the plan has been completed.
The Debt Arrangement Scheme can be quite helpful during the most difficult times as it allows you to make monthly payments based on what you can afford. This means you will be able to stay on top of your finances and any creditor dealings will be dealt with by your Money Advisor.
Are interest and charges frozen?
All interest and charges are frozen during the duration of the plan which will save you money as you will be focusing on reducing your debt rather than paying off the interest. The payments that you make every month are reviewed on a regular basis so that any changes that may affect your personal situation can be easily taken into consideration.
What happens if I run into difficulties repaying to the scheme?
In the event that you have difficulties making payments due to changed circumstances you can negotiate to have the payments reduced, this could be because t you could have become sick or you have recently had a baby. In cases where you do not keep up with payments creditors may take some action to repossess your house but this is the worst case scenario as most will be willing to negotiate for a repayment arrangement. This is done by applying for what is known as a Section 2 Order which will delay and prevent you from losing your house.
If it turns out that you need a reduced repayment figure then your Money Advisor will negotiate this for you, or if you have got some capital, i.e. savings or investments then you may offer to pay the debt in full and final settlement; this will be at a discounted rate and this will be only acceptable if you are able to prove that you are not able to pay the full amount that is due.
How long will it take to repay my debt?
The duration of the programme entirely depends on how much debt you have and how much you can afford to repay. This will be calculated by your Money Advisor who will work with you to reach an affordable monthly repayment figure.
How much does it cost to setup?
The Debt Arrangement Scheme is a free service so there are no setup fees involved. There are numerous unscrupulous companies out there who will charge you a fee so be careful not to get stung. Remember to always check that the person you are dealing with is a qualified Money Advisor as this is a legal requirement for the Debt Arrangement Scheme Process.
For more information on the Scottish DAS Scheme then visit our website and speak with a qualified Money Advisor who will explain the Debt Arrangement Scheme process in full and answer any queries you may have.
The parties involved in this arrangement are the debtor, an Approved Money Advisor and creditor(s). It is a legal requirement that a Debt Arrangement Scheme is processes by a qualified Money Advisor as they have the necessary skills ans qualifications to ensure that your case is handled professionally.
Who qualifies for a Debt Arrangement Scheme?
In order to qualify for this scheme you must be a Scottish citizen and you must also have at least 2 debts. If you are bankrupt or under a bankruptcy restriction order it may be difficult to qualify for this scheme as is with individuals who have got protected trust deeds in place.
What are the advantages of a DAS?
The advantages of a Debt Arrangement Scheme are that you can only pay what you can afford over a certain period of time. The payment is made as a single payment to a qualified Money Advisor and they will then divide the payment between all the creditors on a pro rata basis. You do not have to deal with creditors directly; your Money Advisor will do this for you and take care of all the negotiations and administration on your behalf.
Will my house be repossessed?
In addition to that you will have legal protection against all creditors. Your house can not be repossessed during arrangement period as well. All interest charges are frozen from the day the application is approved and will be written off when the plan has been completed.
The Debt Arrangement Scheme can be quite helpful during the most difficult times as it allows you to make monthly payments based on what you can afford. This means you will be able to stay on top of your finances and any creditor dealings will be dealt with by your Money Advisor.
Are interest and charges frozen?
All interest and charges are frozen during the duration of the plan which will save you money as you will be focusing on reducing your debt rather than paying off the interest. The payments that you make every month are reviewed on a regular basis so that any changes that may affect your personal situation can be easily taken into consideration.
What happens if I run into difficulties repaying to the scheme?
In the event that you have difficulties making payments due to changed circumstances you can negotiate to have the payments reduced, this could be because t you could have become sick or you have recently had a baby. In cases where you do not keep up with payments creditors may take some action to repossess your house but this is the worst case scenario as most will be willing to negotiate for a repayment arrangement. This is done by applying for what is known as a Section 2 Order which will delay and prevent you from losing your house.
If it turns out that you need a reduced repayment figure then your Money Advisor will negotiate this for you, or if you have got some capital, i.e. savings or investments then you may offer to pay the debt in full and final settlement; this will be at a discounted rate and this will be only acceptable if you are able to prove that you are not able to pay the full amount that is due.
How long will it take to repay my debt?
The duration of the programme entirely depends on how much debt you have and how much you can afford to repay. This will be calculated by your Money Advisor who will work with you to reach an affordable monthly repayment figure.
How much does it cost to setup?
The Debt Arrangement Scheme is a free service so there are no setup fees involved. There are numerous unscrupulous companies out there who will charge you a fee so be careful not to get stung. Remember to always check that the person you are dealing with is a qualified Money Advisor as this is a legal requirement for the Debt Arrangement Scheme Process.
For more information on the Scottish DAS Scheme then visit our website and speak with a qualified Money Advisor who will explain the Debt Arrangement Scheme process in full and answer any queries you may have.
Sunday, September 9, 2012
Can Someone Else Pay Off Your Payday Loan Debt?
As you are probably already well aware, payday loans are one of the most versatile borrowing options available in the current market. However, does this versatility extend to payments from another person?
The answer to this is largely dependent on who you choose to borrow with. Some companies will have stricter policies than others when it comes to who repays the debt, meaning that not all will be able to accommodate you. To find out whether your payday loan lender can help or not, it's important that you check their terms or contact them directly beforehand.
To avoid this issue, you may wish to pre-empt it a little and ask friends, family or whoever else may be willing to cover the loan to transfer the funds into your account before the repayment date. This way you can still benefit from somebody else paying off your debt, but without the risk of missing the agreed date with your lender.
When it comes to covering the cost of any loan, you need to make sure that there are as few obstacles as possible. Generally this means ensuring that you have the appropriate funds as and when required. Should you fail to achieve this, then you could well find yourself receiving a number of charges.
One of the major differences between payday loans and other forms of lending is that the borrower will always need to repay it in single instalment. With interest of up to 25% on top of the original figure along with any other charges, it can be quite expensive - albeit this is dependent on how much you receive in the first place.
The actual repayment will be automatically arranged for your next pay date (as long as this is within 31 days of the initial application). For most lenders, this date will be nonnegotiable; therefore it is at this point that you need to have the money. You can choose the day after your salary is deposited, just to avoid any potential issues; however, to do so you will need to clarify this at the time you first apply.
Most payday lenders will only use a single bank account to transfer funds in and out of, which is where difficulties may lie when it comes to having a secondary pay it off on your behalf. This will need to be arranged well in advance of the repayment date, otherwise you may still default. As previously mentioned, not all lenders will be able to facilitate this process, which means that you should check first.
The easiest way around this is to simply ensure, one way or another, that your bank account has the required funds. Taking out a secondary loan certainly shouldn't be done without due care and consideration, which is why you may ask someone else to cover the cost on your behalf. As such, if you are short on cash in the days leading up to the due date, make sure you ask for help; perhaps in the form of a direct bank transfer, which should take less than a day in most cases, or a cash deposit through your bank. Only then can you guarantee that you won't default or accrue the charges and additional interest that this brings.
So to summarise, only in the very rarest of cases would a secondary person be able to cover the cost of your payday loan. This would need to be arranged with the lender and may also come with an additional cost in some circumstances. Therefore, it is always advisable to have the money in your account, one way or the other.
The answer to this is largely dependent on who you choose to borrow with. Some companies will have stricter policies than others when it comes to who repays the debt, meaning that not all will be able to accommodate you. To find out whether your payday loan lender can help or not, it's important that you check their terms or contact them directly beforehand.
To avoid this issue, you may wish to pre-empt it a little and ask friends, family or whoever else may be willing to cover the loan to transfer the funds into your account before the repayment date. This way you can still benefit from somebody else paying off your debt, but without the risk of missing the agreed date with your lender.
When it comes to covering the cost of any loan, you need to make sure that there are as few obstacles as possible. Generally this means ensuring that you have the appropriate funds as and when required. Should you fail to achieve this, then you could well find yourself receiving a number of charges.
One of the major differences between payday loans and other forms of lending is that the borrower will always need to repay it in single instalment. With interest of up to 25% on top of the original figure along with any other charges, it can be quite expensive - albeit this is dependent on how much you receive in the first place.
The actual repayment will be automatically arranged for your next pay date (as long as this is within 31 days of the initial application). For most lenders, this date will be nonnegotiable; therefore it is at this point that you need to have the money. You can choose the day after your salary is deposited, just to avoid any potential issues; however, to do so you will need to clarify this at the time you first apply.
Most payday lenders will only use a single bank account to transfer funds in and out of, which is where difficulties may lie when it comes to having a secondary pay it off on your behalf. This will need to be arranged well in advance of the repayment date, otherwise you may still default. As previously mentioned, not all lenders will be able to facilitate this process, which means that you should check first.
The easiest way around this is to simply ensure, one way or another, that your bank account has the required funds. Taking out a secondary loan certainly shouldn't be done without due care and consideration, which is why you may ask someone else to cover the cost on your behalf. As such, if you are short on cash in the days leading up to the due date, make sure you ask for help; perhaps in the form of a direct bank transfer, which should take less than a day in most cases, or a cash deposit through your bank. Only then can you guarantee that you won't default or accrue the charges and additional interest that this brings.
So to summarise, only in the very rarest of cases would a secondary person be able to cover the cost of your payday loan. This would need to be arranged with the lender and may also come with an additional cost in some circumstances. Therefore, it is always advisable to have the money in your account, one way or the other.
Monday, June 25, 2012
Pay Off Payday Loans To Begin Your Fight Against Debt
Falling behind on your credit cards, online payday loans, car payments or home mortgage? Financial stress can interfere with your physical and mental health. Your psychological health can be crucial when you are trying to straighten up your finances. When you are feeling that stress, making short goals with quick rewards can help boost your spirits giving you additional incentive for making good money decisions.
Many people would suggest that you fight against your largest debt first. This is one way of working on your budget, but it may just add to your stresses. Fighting the biggest opponent when you first step into the debt battlefield may be overwhelming and chaotic. It is chaotic in the sense that while you are focusing your attention on the largest chunk in an uphill battle, there are still many other smaller ones circling around trying to get their jabs into you in order to claim their payments. In boxing, the fighter starts with the lower skilled opponents and will work their way up the ladder to fight the title defender. New approaches are learned along the way building up skill level. If a beginner starts out fighting against the top dog, the agony of defeat may potentially keep the loser down and out of the ring.
Get rid of payday loans debt first. Fight against the small guys first and payoff any short-term payday loans you may have open with unpaid balances. Freeing yourself of smaller opponents will begin to clear out the battle zone one creditor at a time. The less you see coming at you, the better you will start to feel psychologically. Yes, the big debt is still lurking, but it will be easier to focus on it once the smaller ones have been paid off.
Begin paying off the smaller debts. Don't let interest rates affect your decision unless there are some with similar balances and you need a tie breaker as to which one will go first. When you pay off the small debt, the money amount you were spending gets added to the next bill to be paid off. Each time you do this, the money amount which is being applied towards your selected debt increases in value which will end up making you stronger to take down the big guns. Build your skill and your strategy to be more effective towards the stronger opponents. Sounds like a winning plan of attack!
Building your financial confidence will begin to relive stress. The pile of bills on your desk will start shrinking and you will feel like a winner. Stress is a difficult opponent to get rid of, but with focus and time, you can prevail. Psychological improvements will help keep your health from being affected by your finances.
Many people would suggest that you fight against your largest debt first. This is one way of working on your budget, but it may just add to your stresses. Fighting the biggest opponent when you first step into the debt battlefield may be overwhelming and chaotic. It is chaotic in the sense that while you are focusing your attention on the largest chunk in an uphill battle, there are still many other smaller ones circling around trying to get their jabs into you in order to claim their payments. In boxing, the fighter starts with the lower skilled opponents and will work their way up the ladder to fight the title defender. New approaches are learned along the way building up skill level. If a beginner starts out fighting against the top dog, the agony of defeat may potentially keep the loser down and out of the ring.
Get rid of payday loans debt first. Fight against the small guys first and payoff any short-term payday loans you may have open with unpaid balances. Freeing yourself of smaller opponents will begin to clear out the battle zone one creditor at a time. The less you see coming at you, the better you will start to feel psychologically. Yes, the big debt is still lurking, but it will be easier to focus on it once the smaller ones have been paid off.
Begin paying off the smaller debts. Don't let interest rates affect your decision unless there are some with similar balances and you need a tie breaker as to which one will go first. When you pay off the small debt, the money amount you were spending gets added to the next bill to be paid off. Each time you do this, the money amount which is being applied towards your selected debt increases in value which will end up making you stronger to take down the big guns. Build your skill and your strategy to be more effective towards the stronger opponents. Sounds like a winning plan of attack!
Building your financial confidence will begin to relive stress. The pile of bills on your desk will start shrinking and you will feel like a winner. Stress is a difficult opponent to get rid of, but with focus and time, you can prevail. Psychological improvements will help keep your health from being affected by your finances.
Monday, May 21, 2012
A Simple Guide To The Fair Debt Collection Practices Act
Everyone would like to remain free of debt, but this is not always possible. The loss of a job, a medical emergency or bad money management can put you in debt almost before you realize what is happening. When you fall behind on your debts, creditors will inevitably start pressing you for repayment. Collection agencies are limited in what actions they can take while attempting to collect the debt, however. The Fair Debt Collection Practices Act, or FDCPA passed in 1977, defines what practices are acceptable and what which ones are unacceptable when debt collectors attempt to collect consumer debts. The FDCPA covers various types of personal and household debt including the following:
- Credit Card Debt
- Auto loans
- Medical Debt
- Mortgages
The act does not cover business debt or collection efforts made in-house rather than through a collection agency. A retail store trying to collect a debt using its own employees would not be subject to the terms of the FDCPA in most instances, for example.
A crucial part of the FDCPA is the prohibition of certain practices that are considered harassing or abusive. Third-party debt collectors any not engage in the following conduct:
Contact you at inconvenient hours
The debt collector may not contact you between the hours of 9pm and 8am unless you give your expressed permission.
Harass you at work
The debt collector may not contact you at work unless your employer specifically approves of such calls. You must communicate your employer's wishes to the collector either verbally or in writing.
Harass other people about your debt
Other than your spouse, your attorney and yourself, a debt collector may contact other people only to find out your address, your phone number and where you work. He may contact them only once to find out this information.
Continue to contact you after you ask them to stop
Once you request in writing that a debt collector stop contacting you, he must do so. The two exceptions to this are to tell you he is stopping the contact and to tell you he is taking a certain action concerning your debt, such as taking you to court
Make Threats
The FDCPA prohibits debt collectors from threatening you with jail if you do not pay the debt. It also prevents them from claiming they will take your property or have your wages garnished, unless they can legally take these actions and actually intend to follow through on these claims. They may not threaten you with physical harm.
Make False Statements
Debt collectors may not falsely claim to be lawyers or government officials and may not give anyone false credit information about you or falsely state that you have committed any type of crime.
Try to Collect Added Fees
The act forbids the debt collector from attempting to collect any fees that were not part of the original contract between the creditor and the debtor unless specifically allowed by the laws in your state.
You have certain rights of privacy under the act. The debt collector may not contact you through the mails in any way that identifies you as a debtor. He may not contact you by postcard and may not use any language or symbols on his envelopes that indicates he is a debt collector. He may also no publish any type of list that names you as a debtor. Under the provisions of the act you have the right to sue the debt collector in court if you feel he has violated the law. You must file the lawsuit within one year of the violations and may be awarded damages and attorney's fees if claim is upheld.
- Credit Card Debt
- Auto loans
- Medical Debt
- Mortgages
The act does not cover business debt or collection efforts made in-house rather than through a collection agency. A retail store trying to collect a debt using its own employees would not be subject to the terms of the FDCPA in most instances, for example.
A crucial part of the FDCPA is the prohibition of certain practices that are considered harassing or abusive. Third-party debt collectors any not engage in the following conduct:
Contact you at inconvenient hours
The debt collector may not contact you between the hours of 9pm and 8am unless you give your expressed permission.
Harass you at work
The debt collector may not contact you at work unless your employer specifically approves of such calls. You must communicate your employer's wishes to the collector either verbally or in writing.
Harass other people about your debt
Other than your spouse, your attorney and yourself, a debt collector may contact other people only to find out your address, your phone number and where you work. He may contact them only once to find out this information.
Continue to contact you after you ask them to stop
Once you request in writing that a debt collector stop contacting you, he must do so. The two exceptions to this are to tell you he is stopping the contact and to tell you he is taking a certain action concerning your debt, such as taking you to court
Make Threats
The FDCPA prohibits debt collectors from threatening you with jail if you do not pay the debt. It also prevents them from claiming they will take your property or have your wages garnished, unless they can legally take these actions and actually intend to follow through on these claims. They may not threaten you with physical harm.
Make False Statements
Debt collectors may not falsely claim to be lawyers or government officials and may not give anyone false credit information about you or falsely state that you have committed any type of crime.
Try to Collect Added Fees
The act forbids the debt collector from attempting to collect any fees that were not part of the original contract between the creditor and the debtor unless specifically allowed by the laws in your state.
You have certain rights of privacy under the act. The debt collector may not contact you through the mails in any way that identifies you as a debtor. He may not contact you by postcard and may not use any language or symbols on his envelopes that indicates he is a debt collector. He may also no publish any type of list that names you as a debtor. Under the provisions of the act you have the right to sue the debt collector in court if you feel he has violated the law. You must file the lawsuit within one year of the violations and may be awarded damages and attorney's fees if claim is upheld.
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