Friday, October 9, 2015

Free Debt Consolidation: Get Relief From Debt For Free

In today’s world, each and every individual or a company has a certain amount of debt above their cashflow. When this amount of debt increases to such an extent that it becomes a difficult task to pay them off, consulting a debt consolidation management company for suggestions and advice on debt management becomes a necessity.

If one doesn’t consult a debt consolidation managing company, then paying all the creditors and managing the monthly household budget at the same time would be a very tedious and difficult process. To help such debt-burdened people, many free debt consolidation schemes are available today with many finance institutions and other organizations.
At the time, when your mental peace is continuously hampered by the recovery calls from the creditors, getting debt consolidation advice sounds really attractive.
What organizations provide debt consolidation for free and how can I apply to get my debts consolidated?
In most of the places around U.K and U.S--as well as many other developed countries around the world--this concept of taking debt consolidation management schemes is getting a wide recognition.
Organizations that offer numerous types of debt consolidation advice for free have only one aim: giving their clients that required amount of confidence so as to make them face a particular situation themselves. They try to provide the best debt help available to solve any type of debt problems. If they provide only free advice, you can expect to receive the same type of advice as you would at a normal debt consolidator.
Whatever may be your present situation, they will provide you with an efficient solution to your problem, giving you the peace of mind to sleep without tension. Whether your situation demands that you apply for a debt consolidation loan or whether it simply demands that you take a little advice on debt-management.

What to Ask a Credit Counseling Agency

If you have decided to seek help from a credit counseling agency, never presume that all agencies have your best interests at heart. There are agencies that disguise themselves as “non-profit” credit counseling organizations, when in fact they are conducting illegal operations.
To avoid being ripped off, exercise caution and do your research. In this article, we present the questions that you should ask a credit counseling agency before hiring their service.
As a customer, don’t be afraid to inquire about these issues. An ideal counseling agency would not hesitate to give you clear and straight answers. Consider the following questions:
* What are the credentials of the agency? Is it a licensed agency and one that is accredited by the government? Is it a member of a national credit organization?
* Where does the agency derive most of its income? Are the counselors paid based on the number of clients they enroll in the agency’s debt consolidation program? If the agency’s income is dependent on client’s fees, chances are you may be charged expensively for its services.
* Are the counselors certified and competent to give correct advice? See to it that all employees of the credit counseling agency are licensed and professional. What kind of training did they have? Do they have experience in handling different types of debt issues?
* How long does each counseling session last? A good agency should provide each client at least 90 minutes of counseling. During each session, the client’s problem should be thoroughly discussed to make sure that an appropriate solution can be taken.
* Will my confidentiality be assured? Since you will be providing a lot of personal information about your finances to your counselor, the agency must guarantee the confidentiality and safety of your privacy.
* What costs are involved and how much does the agency charge for its services? All the costs involved should be discussed right from the beginning. As a client, you should be clearly aware of all the fees you’ll be paying in exchange for the company’s services. Nevertheless, bear in mind that you should not submit any payment until the services has been rendered. A legitimate credit counseling agency should not demand payment from you until your problem has been resolved.
* Can you access your account regularly? You should have the option to access your own account particularly if you’re going to sign up for the agency’s debt consolidation program. This way, you can be assured that all your payments are properly submitted to your creditors.
* What exact services does the counseling agency provide? Watch out for agencies that insist on debt consolidation without first exploring other possible solutions to your debt problem. For instance, a counseling agency should not only help you get out of debt but should teach you how to manage your finances more effectively as well. Your counselor should help you work on a budget to make sure that you won’t have debt problems again.

Friday, September 30, 2011

Debt Collection – Your Frequently Asked Questions Answered

Here are your most Frequently Asked Questions about debt collection and the answers to them. The responses are based on the rights included in the Fair Debt Collection Practices Act (FDCPA).
Is my debt collector allowed to call at any time? No. Debt collectors are only allowed to call between 8am to 9pm. Calling before 8am or after 9pm is prohibited unless with your consent.
Is it okay to leave messages on my answering machine? A collector can leave his name and contact number on your answering machine. However, he should not discuss any information about your debt unless you’re available to take the call. If you don’t want your debt collector to leave messages when you’re not home, you can tell them to stop.
Is it okay to submit partial payments? Some debt collectors may refuse to accept partial payments. However, if you don’t have the money to pay your entire debt, send in your partial payments. If your debt collectors still demands a lump sum and sends your money back, keep proof of your payments for references. In case your debt collector files a law suit against you, this would prove that you never attempt to default on your debts.
Can a debt collector threaten you about a legal law case or repossession? There are debt collectors who may resort to false threats to impose fear on a borrower. If such claims are found to be untrue, you can report them for violation of the FDCPA.
Should you put up with verbal abuse or harassment? Certainly not! Even if you owe a lender, you still deserve to be treated with dignity and respect. Debt collectors should never use abusive languages, foul words, or any form of harassment to force anyone to pay.
Can a debt collector continue to contact you after you told them not to? If you want debt collection activities to stop, you can send a letter to your debt collector and inform them of your wishes. However, keep in mind that stopping an agency’s debt collection activities does not exempt you from your responsibility to make repayment. Even if the collection has been stopped, you should take the initiative to submit your payments at the soonest possible time.
What can I do if a lender collects debts I don’t owe? Under the FDCPA, consumers have the right to dispute billing charges if they think it’s incorrect. As soon as you received your bill, send a dispute letter (via registered mail) to your creditor. They should immediately stop with their collection attempts and begin an investigation about the issue. A creditor has 30 days to set the matters straight. Meanwhile, debt collection should be put to a stop.
Remember, if your creditor or debt collector is guilty of a violation of the rights listed in the FDCPA, don’t hesitate to report them to the Attorney General’s Office of your State and file a complaint to the Federal Trade Commission (FTC).