Credit Card Debt Relief, Debt Settlement
US Consumer Advocate
Discover A Honest
And Ethical Company
That Will Help You Through Your Financial Difficulty
From: Mark
Bradley
Executive Director of Client Development
US Consumer Advocate
Tempe Arizona
Dear Friend,
I would like to thank you for taking the time to visit our website. My name is Mark Bradley and I am the Executive Director of
Client Development at the US Consumer Advocate, I have been in the debt negotiations field for over 8 years helping thousands of Americans
solve their financial problems.
Therefore I have a pretty good idea of what can and can't be accomplished when it comes down to dealing with your outstanding
debts. Currently we have a team of 30 dedicated client services representatives to service your every concern once you have become a
client of the US Consumer Advocate. I have worked at other companies in the past and I must say that our people are the hardest
working and dedicated client minded people that I have had the pleasure to work with throughout all my years of being in this
field.
I also oversee and train a staff of debt analysts that can help you determine whether what we have to offer, is right for you.
They will walk you through the enrollment process once they have determined you qualify.
I first want to offer you some information about the Debt Settlement Process such as the pros' and the cons'. Some of this
information may be brand new while some information may confirm what you already know. My goal on this site is to give you the basic
facts that can help you make a decision ASAP. You will need to fill out a request for an appointment to speak with one of our Debt
Analyst to enroll with USCA or if you have further questions concerning debt settlement, and our service.
So, let's get started. Here's the first question you'll want the answer too.
What Are My Options?
1. Do Nothing
For the vast majority of people this is not a very practical solution, but technically speaking it is an option. However choosing
this means you except the fact that you are losing thousands of dollars in interest to the banks with no end in sight. This cycle we
refer to as the “credit treadmill” by only paying minimum payments this will take an average of 38 years to pay off. Paying out hundreds to
thousands a month only to have the majority of it go to interest, and see your balances go nowhere for decades. We have found that
thousands of Americans will rob Peter to pay Paul, which means to borrow from one credit card to pay another in hopes that somehow in the
near future they can get back on track. The results are they just end up deeper in the hole with no end in sight.
2. Obtain a Debt Consolodation
Loan.
First off you must have something of collateral for this to be an option at all; most people use the equity of their home. This
can be referred to as “debt transformation” you are not at all reducing your debt, but merely transforming it from a low-risk unsecured
debt into a high-risk secured debt. Statistics have shown that a high percentage of people who obtain debt consolidation loans end up
right back where they were in credit card debt within 5 years, but this time around there is an extra secured payment that must be made
first, this situation can force many into bankruptcy.
There are also unsecured debt consolodation loans which require no collateral but most Americans that apply for this type of
loan get denied because their current credit cards are max out. Even if you think your credit is good because you have never missed a
payment the second most important part of your credit score is your debt to credit limit ratio, were if your debt exceeds 50% of your
credit limit it's to high, in spite of the fact that your income is high enough to handle the payments you will be denied.
3. Credit Counseling Services
Most of these organizations are non-profit and
funded in-part by the creditors. You make one monthly payment to the credit counseling service which can be the same as what you are
paying now plus their monthly fees, then they disperse your payments to the creditors for you. Usually the creditors will lower
the interest rates on your accounts if you meet the creditors requirements. You must remember that you are still paying back the entire
balance plus interest; your creditors are not reducing any of the remaining balance that you owe, just the interest.
Missing one month’s payment can get you removed from the program by the credit card companies and many creditors will
not allow you to re-apply into another program for a year or more. This means you are back in their hands of the creditors with high
interest rates. Due to the rigid structure of this type program close to 75% of people who enroll into credit counseling programs fail to
ever graduate.
4. Bankruptcy
For most people this is considered a last resort
option. It can appear on your credit report for up to 10 years. Bankruptcy is also a matter of public record for anyone who wants to can see
it for the rest of your life. You also must be aware that filing for bankruptcy means you will have to file in court, plus certain
types of bankruptcies require a court-appointed trustee to control and oversee your estate. The 2005
Bankruptcy Act made changes in the law that has made it very difficult for most Americans to totally wipe out their
debts, which means in many cases you may be setup in a repayment plan determined by the courts which could be up to 60
months.
5. Negotiate Settlement For Less Than The Full Balance
Owed.
Most creditors if handled properly will accept a
settlement for less than the balance owed. In most cases saving the debtor thousands of dollars and helping them become debt free in a
fraction of the time they otherwise would have. But keep in mind that if you are current with your debts
than the creditors expect payment in full. Only when an account goes in default will the creditor consider accepting less than the amount
owed.
Click here for an appointment with a debt analyst
US CONSUMER
ADVOCATE
Would Satisfying Your Creditors At
50-60% Or Less Including Our Fees
Solve Any Of Your Financial Problems?
For many Americans a deduction in their overall debt may not be the answer because of cash flow problems, usually it's because
they experienced a significant decrease in their income. If this is your case and the potential of increasing your income is next
to impossible or possibly not at all then bankruptcy maybe the best solution and only realistic option.
But for thousands of Americans there is hope outside of bankruptcy, debt settlement. The origin of settling one's debts for less
than the original amount has been a part of history dating back to Biblical times. This is not a new practice and will remain as part as
our culture for as long as we have debt in this country.
It’s very important to keep in mind the types of debts that are normally negotiable are known as unsecured debts. These can be
department store cards, credit cards, personal loans, defaulted medical bills, auto repossessions, old phone bills, and there are more. The
types that are not negotiable are home mortgages, auto, and motorcycle or boat loans where you still have the vehicle but the bank holds
the title. Others are taxes, child support, alimony, federal funded student loans, and any other bills that you are still using the
service.
Every situation is different when dealing with collectors to settle your debts there are many factors that dictate what will or
will not be accepted. Depending on you situation, we may settle on one or more of debts debts for as little as $0.20-0.30 on the dollar.
Then some creditors may be very difficult and the best they will take maybe $0.50-0.60 on the dollar. This is when a professional
company that deals with your creditors on a daily basis will be able to determine what is good and what is not.
Click here for an appointment with a debt analyst
US CONSUMER
ADVOCATE
Can I Do This On My Own?
Do I really need to hire someone to try and negotiate my debts or can I just do this on my own? Absolutely, you
can. Just like when selling your home the question is; do I need a real estate agent to sell my house? No, but consider
this, if you do not have the time, expertise, and the knowledge, the cost of making mistakes can be enormous. That is why it is a good idea
to retain the services of an experienced professional that knows what they are doing.
Here are some tips if you do want to attempt this on your
own,
- What if I don’t respond
and temporarily do nothing? Many times this
works best, the old saying "no news is good news" can apply, but can backfire and you can miss a great opportunity for a very favorable
settlement. Knowing when to hold back and do nothing is a major factor in dealing with collectors.
- You must understand what a good settlement offer is and what is not. For example, one creditor
may never budge for less than 50% so accepting that offer would be wise. But on the other hand there are creditors who will accept
20-35%. Having the knowledge of how they operate is a key ingredient to know when to hold out and when to settle, this is essential to
achieving the best possible results.
- Do not expect the creditors and collection agencies
to just roll over and play
dead, while reducing your debt by thousands,
if not tens of thousands of dollars. Understand, this process can take several months so
you have to be strong and not fall for their tactics to intimidate you into prematurely accepting a bad deal.
- The old saying “It’s not what you know, but who you know” is very
important when it comes to negotiating your debt. Avoiding uncooperative people and actually speaking to the right person makes the
difference between getting a settlement or not.
- Different creditors and collectors
will require different negotiating strategies. What you find may work with one company could have a totally
reverse affect when tried with another company such as triggering a law suit. Typically each company has its own way of doing
business.
- Creditors will routinely threaten
to sue. In the vast majority of cases this is just a bluff, but it is a real possibility. It is essential to know the past
performance of the company threatening litigation; many companies send the exact same threatening letter to everyone and rarely ever sue.
Only experience with the companies and tactics can help you to determine if the threat of a lawsuit is legitimate or
not.
- What if I receive a letter or call for a
law firm does that mean I’m going to be sued. One
of the main reasons creditors and collection agencies use law firms to collect debts is because the official appearance of a law firm’s
letterhead. This is usually enough to get most people to react and pay immediately. If the law firm is not registered to practice law in
your State they can not represent a client in court where they are not licensed, the odds of that firm suing diminish. Dealing with law
firm collections company requires confidence and the correct approach to receive a favorable settlement.
- What is the best time to settle with the original creditor or let it go to a collection
agency? This question is asked the most and many times you are much better off actually dealing with the collection agencies; however
there are times when dealing with the original creditor is much more beneficial.
- Are judgments and liens negotiable? Yes, but the results may not be as favorable. Caution
must be used when speaking to the creditor, having the knowledge of the legal system in your county is necessary, as not to put yourself
in a worse situation. Also you will need to know how to properly file the paperwork in your courthouse once a settlement has been
reached
- What happens when my debt continues to be sold to more than one collection
agency? Now more than ever you will see that a debt is sold from one collections agency to another. Which can mean the original
creditor is completely out of the picture, a potential problem my come up when the collections company is bought out by another
collections agency, which happens very often. The new company does not have to honor your past agreement and can demand more. It becomes
essential to make sure you get the right settlement paperwork, so that you aren’t liable for paying out on a debt that you already
settled with another company.
Click here for an appointment with a debt analyst
US CONSUMER
ADVOCATE
The Debt Settlement Process
Is Not For Everyone
-
If it will take you more than 36 months (24 months preferably) to
negotiate settlements with your creditors than bankruptcy may be a better option to consider. Understand were not saying it is impossible to go longer than 24 months, but the objectives
we are looking to accomplish for you become harder. To achieve maximum savings the
settlement process should really look to be accomplished in 24 months or less.
-
No company can guarantee any specific settlement
amount. Debt settlement is a process where a one time settlement is negotiated,
sometimes we are able to achieve favorable results and sometimes extremely favorable results, however we cannot guarantee a specific
amount. Any reasonable person will understand and accept this. We base our predictions on our past performance and the results we have been consistently
achieving.
-
Your credit score will be adversely affected. This is the trade off for having your creditors greatly reduce the amount you will have to pay
back. You cannot just expect the creditors to write off thousands or tens of thousands
of dollars of your debt and expect your credit to stay in great shape. If you want a
good credit score then you must pay your bills in full on time. Your credit score is
however only a snapshot in time and has the potential to go back up and become favorable once again, but not during the settlement
process.
When it comes to negotiating settlements with your creditors there is no free lunch. As is with everything thing in life there are
positives and negatives. If you find that any of the four previous points are unacceptable to you, then STOP NOW
because this strategy of debt reduction is NOT FOR YOU! If not read on.
Click here for an appointment with a debt analyst
US CONSUMER
ADVOCATE
WHY HIRE THE
US CONSUMER ADVOCATE
Most people do not have the time
to devote to successfully complete the process and achieve favorable results. Some
people think all it will take is a quick phone call to your creditors and they will just reduce your balances substantially. I wish this were the case but it is not. Successfully
negotiating settlements with creditors/collectors will require many well thought out and planned phone calls, letters and settlement proposals
over time. To do this right it takes some time and there is no getting around
that.
Negotiating skills and knowledge
are a must for debt settlement. Every creditor and collection agency has its own
procedures and policies, regarding how they handle settlements. You must know each of these
companies procedures to be successful at settling. As said earlier one tactic may be successful
with one creditor and have no effect with another.
We act as an intermediary between
you and the collectors. The benefit of having a respected and reputable company greatly
helps the communication with the collectors and the success of achieving very favorable settlements. They treat our negotiators much differently then they would treat you. You could say the same exact thing as our negotiators but get nowhere. That is how important having a good companies’ reputation is.
We have a great track record with
the BBB (Better Business Bureau). The US Consumer Advocate as of
has no complaints filed against us with the BBB. That is almost unheard of for this industry, the majority of
settlement companies have an F rating with a slew of complaints, and worse complaints that were never resolved to the clients liking.
Our client services representatives are dedicated to making sure every facet of debt settlement process is done correctly.
And last but not least our fee is
performance based. Our fee structure keeps our negotiators always striving to get
the best possible settlement they can get. This is a win-win situation. You as the client save more money and we as a company earn more for our great performance. With most other companies when it comes time to settle your accounts they have earned their entire
fee. So why would they go the extra mile to get you the best deal?
Click here for an appointment with a debt analyst
US CONSUMER
ADVOCATE
US Consumer Advocate Link To BBB
| 