Warning: Todays Non Profit Credit Counselors Are Yesterdays Bill Collectors!

Here’s a dirty secret, today’s “non profit credit counselors” are often just front organizations paid lucrative commissions by creditors to keep consumers from declaring bankruptcy!

In the “debt collection biz”, creditors will sell your outstanding debt along with the debt of hundreds of others to a collection agency for cash up front.

The collection agencies will work this debt until they’ve made all the money they can.

Then they’ll keep selling this block of business to whomever will buy it.

This explains why you can stop being pestered by a bill collector for a while then a completely different bill collecting psychopath will start calling your house or sending you threatening letters out of the blue when you thought they were finished.

The Fair Credit Reporting Laws have put some damper on their crude activities, as have the bankruptcy laws.

But yesterday’s bill collectors have gotten wise.

If people go bankrupt, the creditors get virtually nothing.

So why not figure out a way to get people to voluntarily pay much more than they would otherwise by going through bankruptcy?

So today, yesterday’s bill collectors often masquerade as “non profit credit counselors”.

Business must be good for these “non profits” because they’re out on the internet paying $10 per lead for potential debt consolidation clients!

Their “come on” to the consumer is “Don’t declare bankruptcy! It will RUIN your credit and cost you money! Use our FREE service instead.”

There’s no such thing as a free lunch of course.

What unsuspecting consumers DON’T KNOW is that using these services may ruin their credit anyway.

And these “Free Services” are being paid handsome commissions on every dollar the collect from you!

Then they report exactly what they’ve done to the credit reporting firms and potential creditors in the future MAY consider you a potentially WORSE candidate than a formerly bankrupt person because if they extend you credit and you fall on hard times again, you stil have the option of going through bankruptcy!

Learn your rights.

It’s possible for ordinary people with a computer and printer to use the law to “lick bill collectors with a stamp!”

Without giving up your privacy, without having a credit counseling firm “rat” on you, it’s possible to achieve the same results that others have used expensive attorneys to achieve – when you know your rights!

Cleaning your credit report is something you can do.

Paying off debts for pennies on the dollar is something you can do.

Educate yourself at sites about free credit repair techniques

Why Americans Find Predatory Lending Offensive

“Menis – the author translates as “indignant rage” – It is the kind of rage arising from social betrayal that impairs a person’s dignity through violation of “what’s right.” (p21), Achilles In Viet Nam – Combat Trauma and the Undoing of Character, Jonathan Shay, M.D., Ph D. “The vulnerable relationship between child and parent is … Continue reading

Credit Help For Renters And Others On The Horizon

Sue is a homeowner and pays her mortgage and other bills on time like a good credit consumer. Sue’s on-time mortgage payments are reflected in her credit score profiled by the three major credit bureaus; Equifax, Experian and Trans Union. Joe on the other hand is a renter, who wants to buy his first home … Continue reading

Rewards Cards – Are They Right For You?

Rewards cards have become the latest rage in the credit card industry. In the past, consumers shopped for credit cards that offered the lowest interest rate. Next came cards with low interest rates and no annual fees. Today, consumers can shop for cards based on what type of "reward" they can earn for using a … Continue reading

10 Tips To Prevent Credit Card Fraud

Imagine opening your credit card statement one morning and discovering to your horror that you suddenly owe thousands of dollars – on purchases that you never made. Impossible? Credit card fraud on the rise, so you need to treat your card and its information with extreme care. Here are 10 tips to help insure you’re … Continue reading

How To Save Money On Credit Cards

Some credit cards offer a cash advance option. But how good a deal is this? Not very. In fact, it can be downright expensive. Why? Because every time you use your credit card to withdraw case, more fees kick in: Cash advances can carry an upfront fee of 2 percent to 4 percent of the … Continue reading

The Three Largest Factors In Your Interest Rate

There are three major factors that affect how much you pay for a loan. Understanding these factors can save you time, money and frustration. 1. The Federal Reserve Discount Interest Rate. Banks and other lending institutions borrow money from the Federal Reserve Banks. The discount rate is the interest rate a Federal Reserve Bank charges … Continue reading

Sunglasses since it is are an incredibly essential component of the attire these days since it not simply makes you appear cool and fashionable, it also keeps out hazardous UV rays from your eyes. Preserve a appear out for great offers on the web where you will be capable of save lots of money acquiring designer sunglasses for your self.

Sunglasses since it is are a very essential element of one’s attire these days since it not simply makes you appear cool and fashionable, it also keeps out hazardous UV rays from your eyes. This is the reason its essential that you just buy the proper pair of designer shades that looks fantastic on you … Continue reading

The Advantages of Credit Cards

There are many evils associated with credit cards, but there are benefits that are hard to ignore. One benefit is having the credit card company act in your behalf to recover funds from a disputed transaction. Under the Fair Credit Billing Act the credit card company has to investigate the dispute and either take the … Continue reading