Schlagwort:debt relief

The major reason of the current economic recession is overspending. Now this has caused so many problems for everyone. So many people are suffering from unsecured debts mainly, credit card debts. They had a habit of overspending on their credit cards, now with no jobs and because of the inability to meet the expenses to today’s world they are drowning into debts. At this time where the value of a dollar bill has decreased and that of gold and silver rose high, it is very difficult to pay off the debts and still manage to bear the expenses of daily life.

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It is frightening when every month one has to face the sky rocketing bills of their unsecured debts. The debt relief is the only thing that comes in your mind when you really have to struggle for the minimum payments of your bills. Most people in desperation are attracted to one of the commercial for immediate debt relief and invite a more serious financial trouble.

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You may have seen some advertisements or articles on the internet that mention the Obama credit card debt relief bill. Beware, because that there is no such thing as the Obama credit card debt relief bill. Indeed many of the claims attached to such a bill are wide off the mark and are only being used as a way to hook the gullible reader into signing up with a credit card debt settlement program. Amongst the many wilder claims being made is the statement that a credit debt relief company can only charge you if they manage to reduce your debts by more than 35%. Some of these companies even claim that the government is going to personally underwrite up to $10,000 off your debts.

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In recent months, we’ve seen many regulators and legal authorities in jurisdictions across the country signify official concern that an increasing number of companies which operate in the debt cures business today, are essentially debt relief scam operations that are out to cheat and dupe an overburdened debt-ridden population in a bad national economy. The most recent among those, is Attorney General Andrew Cuomo in New York, whose office had subpoenaed some 14 debt relief operations and one law firm in May 2009 from across the nation for investigations into their debt settlement operations.

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When debts begin to pile up around you and you can’t make your regular monthly repayments on time or even at all, you may be faced with a very stressful situation. To make things worse, you will be denied credit from other lenders because you can’t pay the credit you already have. If that wasn’t bad enough, you will also have rude, irate and threatening letters and phone calls from your creditors, demanding that you pay them what is owed.

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