People often behave in such a gullible manner that it is not surprising that credit card issuers and other lenders take undue advantage and loot them of their hard earned income. Most of us consider it our moral duty to repay all our debts in full. We also feel that we should make all interest payments in full as that is the price to pay for the loan borrowed. We forget that the lender charges administrative charges and other fees before...more
Is it possible to escape all your credit card debts without making any repayment? Sure it is possible. All you have to do is declare bankruptcy. You simply have to approach the court and admit your inability to repay your debts. The court shall take control of all your assets and liabilities and will settle the same. This will free you from the responsibility of repaying your debts. Of course, this is a gross oversimplification of the entire...more
Most of us are just not aware of the fact that credit card issuers are offering fantastic settlement deals. Lenders are ready to waive as much as sixty percent of the credit card debt without payment of even a single cent. This remedy has come as a god sent solution for the financial problems of many individuals.Unemployment in America has crossed fifteen million. Further, the number of persons who are unemployed for more than six months in a year has exceeded five million. This does not include individuals who are compelled to work part time or at below subsistence wages. Numbers apart, there is no doubt that the number of individuals who are simply unable to earn enough to sustain themselves and their family is very high.Lenders realized that pushing individuals for full repayment of debts is only going to lead to a large number of bankruptcies. That is the reason why credit card issuers are ready to offer waivers. The idea is to reduce the payable amount to encourage borrowers to repay the remaining amount in full without any problems or delays.An average individual owes more than eight thousand dollars to credit card issuers today. Such a person can easily get a waiver of 60 -...more
Most individuals react to any suggestion that may lead to a reduction in our credit score like a bull that reacts to the red flag. However, before you react in this manner, just take a minute to answer a few questions.- Do you know the exact amount you owe to all your lenders?- Do you know how much time you need to repay all your debts in full?-...more
During the period of economic decline, countless people have landed in large liabilities which they area not able to pay. There are various reasons for this nonpayment. First of all, unemployment has caused a major reduction in the financial resources which the average man has. In addition to that, the loss of a permanent job has finished the...more
Well, all of us have heard the phase "something is better than nothing". This phase has a very simple and realistic meaning. It means that in situation which would result in no achievement, any offer which is better should be accepted. In case of loans and financial grants, debt settlements form the practical implementation of this phrase.Debt settlements are a solution to the financial complications which are being faced recently. We have heard that unemployment has forced a lot of people to sacrifice their savings. However another fact is that apart from individuals, most of the industries have been harmed to a major extent. They have reduced their employees and changed their strategy majorly.An important example is the finance industry in which banks are in a terrible state due to lack of cash. A major amount of the bank cash share is given to the credit holders so that the earnings can be expanded with the interest earned. Due to the financial condition of most credit card holders, repayments close to zero were attained by financial companies.They had no cash to carry out operations and thus were approaching a zero balance. This was the time when the government intervened and...more
At times, a loan taker is unable to pay his loan installments in the required duration. He then files an application and request for an extension in the planned duration. It is not necessary that the bank provides him this option. It varies from one...more
For a credit card holder, the best time is when the card is allotted to him and he start spent according to his wishes. At that time, the feeling is of being the owner of an income which will never end. However this feeling is temporary and it...more
In the current situation of economy recession, federal stimulus money granted by the government seems to a blessing for everyone. The American Reinvestment and Recovery Act of 2009 were signed into law by President Barack Obama in February 2009. This...more
The true purpose of a credit card is very different from the one for which it is being used. It had been introduced as an alternative so that people do not have to carry cash for every small purpose. Handling and carrying a credit card is easier than...more
It is an unusual but true fact that an advantage has been introduced from a problem like recession. This advantage so extracted after analyzing the economic situation in the United States. As a result of recession, banks are finance companies have...more
Whenever an investment is made in a company, there are some important points which should be kept under consideration. One such point is reliability check. Some companies that exist on the internet have not even been created. In this way, many scam...more