- The "Credit Card Debt Termination" Scam by Charles J. Phelan
"Legally terminate credit card debt! You can be debt-free in 4-6 months! " Advertisements like this are for a new type of program that has spread via the Internet over the past few years. 970 words 2006-07-21 - When Debt Collectors Cross the Line Bogus Threats & Illegal Collection Tactics by Charles J. Phelan
If you are behind on your bills and on the receiving end of collection phone calls, you will probably hear collectors make some very threatening statements. While most debt collection professionals try to stay within the boundaries defined by the Federal Fair Debt Collection Practices Act (FDCPA), many others cross the line on a regular basis. 1039 words 2006-07-16 - Debt Settlement & Income Taxes -- What You Need to Know by Charles J. Phelan
Debt settlement has become a popular approach to resolving problem debts without having to file bankruptcy. With this approach, creditors agree to accept a portion of what you owe (usually around 50% or less) to settle the account, and the remaining balance is forgiven. 547 words 2006-07-13 - The New Bankruptcy Law "Means Test" Explained in Plain English by Charles J. Phelan
With the new bankruptcy law in effect as of October 17, 2005, there is a lot of confusion with regard to the new "means test" requirement. The means test will be used by the courts to determine eligibility for Chapter 7 or Chapter 13 bankruptcy. 927 words 2006-07-13 - Debt Relief -- Why Most Programs Have A 75% Failure Rate by Charles J. Phelan
Debt consolidation, equity loans, credit counseling, debt management plans, even Chapter 13 bankruptcy it doesn't matter which of these debt programs you're talking about. They all suffer from one fatal flaw, the number one problem that causes most people to fail at eliminating their debts through these techniques. 1023 words 2006-07-08 - Debt Settlement, Debt Management, Debt Termination What's the Right Choice? by Charles J. Phelan
When you're facing a mountain of credit card debt, the stress can be overwhelming at times. Collection calls, daily harassment, rude bill collectors, and nasty letters all add to an already intense situation. 1278 words 2006-07-07 - Business Opportunities Why Pre-Packaged BizOpps Are Not Worth The Money by Charles J. Phelan
Pick up any "business opportunity" magazine at the local newsstand, and you'll see a glossy attractive publication designed to attract people who are actively seeking ways to earn extra money, buy a franchise, or open a business of their own. 1146 words 2006-07-03 - Budgeting -- The Critical Flaw That Causes Most Budgets to Fail by Charles J. Phelan
Budgeting. It's a word we're all familiar with. Everyone knows what a budget is, right? Yet how many of us actually make and stick to a solid monthly budget? The truth is that most of us start out with the best of intentions, but an unexpected expense comes up and busts our budget. 978 words 2006-07-03 - Credit Protection Insurance -- Just Another Consumer Rip-Off by Charles J. Phelan
Credit protection insurance is a good example of a consumer rip-off that affects millions of people, yet gets little attention in the financial media. Simply stated, you should NEVER buy "credit protection insurance," or a "payment protection plan" or any other similar type of credit-related insurance. 910 words 2006-07-02 - Credit Cards for People With Bad Credit -- How to Avoid Getting Ripped Off by Charles J. Phelan
If you've had credit problems, then you've probably received offers for credit cards aimed at people with bad credit. These offers range from legitimate, to questionable, to outright scams. 962 words 2006-07-01 - Debt Settlement -- Why the Critics Are Wrong by Charles J. Phelan
After October 17, 2005, a lot of people are going to become interested in debt settlement as an alternative to bankruptcy. That's the date the new bankruptcy law goes into effect, and it means a rude awakening for many consumers seeking a fresh start in bankruptcy court. 1103 words 2006-06-30 - Credit Card Charge-Off What Does It Mean and What Should You Do About It? by Charles J. Phelan
Have you been told by a creditor that your debt is about to "charge-off"? Did the bill collector make it sound like you will be ruined financially if you allow this catastrophe to happen? If you're behind on your bills, unable to keep up with payments on your credit cards and other debts, sooner or later you will hear a creditor representative threaten you with the dreaded "charge-off. 886 words 2006-06-29 - Credit Counseling -- Why It Doesn't Work For Most Debtors by Charles J. Phelan
"Cut Your Payments in Half! " the headline screams. "Consolidate Your Bills into One Low Monthly Payment! " When you see ads like this, they are often from Credit Counseling firms. 1146 words 2006-06-27
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