Blog Feed: Debt Bytes | Discussing Debt One Byte at a Time

Want to avoid bankruptcy? Quit smoking…

Published on 2012-03-06 14:06:09

In 2005 there were many changes made to bankruptcy laws. Banks lobbied hard to make it more difficult for consumers to shed unaffordable unsecured debts (like credit cards) through a chapter 7 discharge. The income based means test was introduced as part of the 2005 changes. It is a household income hurdle that must be [...] > read more

Advice About Debt and Disclosures by Those Offering to Help are Skimpy on Purpose

Published on 2012-02-28 08:20:01

The Disclosures Made by Those Offering Alternatives to Bankruptcy – How Important Are They? Very, but those doing the disclosing are not really helping with the little information they give. When a person is struggling with debt and looking for outside help from a company or person, they should certainly have risks and rewards disclosed [...] > read more

Building A More Productive and Effective Debt Relief Market Place

Published on 2012-02-08 17:45:23

Debt Relief Information and Inovation – Helping Companies Help Their Customers One of, if not the largest shortcoming that exists in the current system designed to provide people struggling with debt an alternative to bankruptcy is – Information. That we have come through the “information age” and fallen short of including more of it in [...] > read more

How do you know which debt relief option works for you

Published on 2011-10-03 19:14:51

A couple of friends of mine who are experts in the debt relief industry came together recently to put a together a powerful tool for consumers and industry experts. The calculator and additional tools you will find discussed and linked below will help you determine what debt elimination option may be right for you. I [...] > read more

Get Foreclosure Help in Massachusetts through EHLP and Cambridge Credit

Published on 2011-07-10 06:01:41

Good news for struggling home owners in Massachusetts came this past week in the form of money released to assist in making mortgage payments. The press release below gives some details. The downside is that the program has a narrow window of time for residents of the state to seek qualification to receive no interest [...] > read more

What to do When Struggling or Late with Credit Card Payments and Other Bills

Published on 2011-02-17 17:48:04

I generally begin any consultation I do with people who reach out to my company in search of help with debt with this question: “What has you reaching out to a perfect stranger? What is going on with you financially”? Then, I shut up and listen. > read more

Those Furnishers of Bad Information Found In Your Credit Report Are Costing You Money

Published on 2011-02-14 14:26:52

I have covered credit reporting on other posts here on debt bytes, but mostly as it applies to people who need some form of debt relief due to a financial hardship. While that is an important topic and a concern for more and more people as a result o > read more

The AACC Brings High Standards & Ethics to Debt Relief Industry

Published on 2011-02-11 19:43:36

For Immediate Release Media Contact: Ken Luck (336) 553‐1804 kluck@rlfcommunications.com Debt Relief Companies Form New Consumer Advocacy Organization Raleigh, N.C. (Feb. 9, 2011) – In an ongoing effort to raise standards in the debt relief indus > read more

Zip Debt’s Settlement Coaching Program Helps Consumers with $100,000 plus in Credit Card Debt

Published on 2011-02-11 18:10:28

Individuals and small business owners burdened with huge credit card debt balances of $100,000 or more are turning to debt settlement coaching, negotiating their own settlements, and saving thousands on third-party negotiation fees. San Diego, CA (PR > read more

Free and Affordable Resources for Consolidating, Settling and Managing Debt

Published on 2011-02-11 17:29:13

One of the purposes of the Debt Bytes Blog is to raise awareness and educate people on the topic of debt. This is not a new concept by any stretch. There are many sites on the web that have a great deal of information and some of these have HUGE read > read more

Debt Collector & Debt Buyer Behavior In Need Of Major Adjustment

Published on 2011-02-03 17:27:46

The Consumers Union, a long standing consumer advocate and watch group, in partnership with East Bay Community Law Center, weighed in with their recommendations for amending the Fair Debt Collection Practices Act (FDCPA). Read the report they publish > read more

Settlement Company Offers A Fair Discount for Veterans and Debt Relief Victims

Published on 2011-01-25 19:33:37

I am often critical of the debt relief industry and with very good reason. When an opportunity presents itself to point to good companies, doing good work when providing debt settlement services, it is well worth highlighting. I have come to know Act > read more

Take the Get Out of Debt Suitability Test

Published on 2010-12-19 13:31:03

Is your current monthly cash flow either now, or in the near future, not enough to meet your monthly obligations while allowing for a set amount of savings taken from income each month? If not, you are currently, or soon could be, in a financial bind > read more

Food Stamps Responsible Corporate Citizenship and Bacon Cheeseburgers

Published on 2010-12-08 18:54:20

I have long had an addiction to reading economic blogs. I mostly visit blogs and sites that have daily commentary while enjoying my morning coffee. The sites that I visit tend to have a no holds barred approach in their writing and commentary on dail > read more

When to Request Debt Validation From a Debt Collector

Published on 2010-12-01 10:48:30

This topic is deserving of much more time than I am going to give it in this post. I am covering this briefly due to the question I received yesterday after publishing part of the Debt Bytes charge off series where one of the bullet items states: “ > read more

My Credit Card Account Just Charged Off and a Debt Collector Keeps Calling Me

Published on 2010-11-29 17:34:56

This post is part of the Consumer Recovery Network & Debt Bytes “Charge Off” series and discusses what typically happens with your unpaid accounts “Post Charge Off”, when the balance is assigned to an outside debt collector. In order to h > read more

The Karma of Giving

Published on 2010-11-24 14:55:33

For readers of this blog who may be interested to know some brief history of debt bytes, here is a quick tidbit: When Consumer Recovery Network launched in 2006, we started a newsletter called “Debt Bytes”. The newsletter was to be a monthly emai > read more

What Happens in the First Six Months When I Don’t Pay My Credit Card Bills?

Published on 2010-11-24 13:06:02

This post is part of the Debt Bytes “Charge Off” series and discusses what happens in “Pre Charge Off” Debts that go unpaid follow a relatively predictable pattern. When first missing a payment, the phone rings… a lot.  After 30 days late > read more

Charge Off and Credit Card Debt What it Means to You

Published on 2010-11-22 14:27:51

CHARGE OFF: The term “charge off” describes an accounting function followed by your lenders. When speaking of revolving consumer credit card accounts, a charge off occurs when the credit issuer either chooses, or must, recognize an unpaid loan ba > read more

Debt Settlement – Which Creditors Should I Negotiate With First?

Published on 2010-11-17 18:05:07

There are several factors to consider when determining the order and priority of different debts to be settled. The main ingredient to your success in debt negotiation is; money. How much you can bring to the table, and over what period of time, in o > read more