Debt Freedom Solution

About

Welcome to DebtFreedomSolution.com – Where we are dedicated to helping you manage, reduce and ultimately eliminate your debt!

Right now, with the economy the way it is and the credit crisis still having it’s effect on all of us, there is a real need to manage debt, reduce it and eliminate it.  On the way, we want to be better money managers, more conservative spenders and use the resource of money that we have very wisely.

Please feel free to use the side bar to review the various articles, categories, offers and services as well as the search option to find any resources you may need help you with your debt elimination.

Some point to be aware of:

Debt elimination is a survival imperative for you and your family. It’s no longer an imminent economic disaster. We’re in it and it will likely get much worse. It’s been a-building for a long time and it’s nowhere close to the bottom yet. For several years I’ve been warning people about the collapse of the dollar and now it’s here. I’ve been warning people to get out of debt because trouble was not too far ahead. I’ve warned people that debt elimination was essential to their real freedom. Debt elimination is not just a financial project. Debt elimination is at the heart of real freedom. I’ve been telling homeowners that just because they have always been current on their mortgage payment will not keep the banks from foreclosing when the value of the house drops below their equity. There is still time for debt elimination to have a powerful effect on your freedom but you must act soon. Debt elimination is part of your emergency survival kit. GET OUT OF DEBT NOW!

You’ve probably heard of friends and neighbors who have been laid off and face the loss of their homes to foreclosure or are even considering bankruptcy. Back in 2002, 1.3 million individuals filed bankruptcy just because of their credit card debt. Bankruptcies set another record in 2003, with 1.6 million personal filings, the American Bankruptcy Institute reports. Bankruptcies and home foreclosures in America have now reached an all-time high. Approximately 1 out of every 100 mortgages in America is currently in foreclosure, and 1 in every 5 American mortgages is more than 30 days late.  Foreclosure can cause you to become homeless almost overnight!  Your mortgage, student loan, credit card debt or tax debt bind you in chains for years. You cannot afford to make one financial mistake or you and/or your family are out on the street! It’s a virtual tightrope without much of a net! You need REAL debt elimination to find real freedom. You’ll need to get out of debt. Bailout out of Debt NOW!

Debt Elimination! Not consolidation, negotiation, or counseling. I will show you how thousands of others have used professional debt elimination programs to get out of debt before they got into real financial trouble. Would you rather be proactive instead of reactive? Wouldn’t you rather get out of debt now before the other shoe falls? Would you be surprised that right now professional debt elimination professionals are helping hundreds of people ELIMINATE debt and find real freedom in their lives? Would you be surprised that debt elimination is legal, lawful, and ethical? Debt elimination is real! It works! It’s based on the scams by the banks and “government”! BANK FRAUD… Constant, everyday fraudulent malpractice of the Banks…and government. That’s the basis for REAL Debt Elimination! Eliminate credit card debt! Eliminate student loan debt! Get rid of debt, get real money, get out of debt NOW.

There are many ways to stop your debt and many people don’t care of them as they are just tricks or there is no such a thing called debt elimination.

What if we give ourselves a try and see which way is suitable to our financial situations. Then, see if that will help us or it’s just a waste of time. Let’s try!

1) Debit Relief:
It refers to any arrangement intended to reduce the burden of debt, including the process of cancellation, rescheduling, refinancing and reorganization of debt.

Is it real? It’s a somewhat ambiguous term used variously to refer to the reduction of debt and also the inability to make profits.

What are the methods used here? Not many but the most common way of debt relief is “Bankruptcy“. This way will provide you with a good plan of your money for total repayment of a debt. And it’s not a shame if we resort to this way but at least let it be the last resort.

2) Debt Elimination:
It is a process that allows both the debtor and the creditor to negotiate till finding the best solution for both of them.

Is it real? If your creditor is a real person, then debt elimination is a real process.

What are the methods used here? Too many; the most common ways are making a budget and talking to your creditors. You can win the game if you know how to make a good budget. Add, the fastest way to eliminate your debt is talking to your creditors as some of them are more lenient to their debtors than others.

3) Debt Consolidation:
It’s a good strategy sometimes used by consumers to better manage their debt problems by replacing multiple loans with a single loan that is normally secured on property.

It seems a convenient way for most of debtors. Easy to repay a debt, easy to stop it soon.

4) Debt Settlement:
It is an agreement between a debtor and a creditor to fully satisfy a debt for a reduced payoff amount. Also known as Debt Arbitration or Debt Negotiation or Debt Reduction.

It depends on making monthly payments more manageable for the debtor and finding ways to decrease his/her debt load.

All in all, if we believe that there is a chance to control our spending habits, debt elimination will be our freedom way. Another thing should be considered that there are many people got rid of their debt due to their faith, why we like to disappoint ourselves?!

Time to look into credit counseling and find the proper way to get debt free.

Recommended Reading

The Fair Credit Reporting Act (FCRA)

Below is a summary of the FCRA. The full Act can be obtained directly from the Federal Trade Commission’s web site here.

Fair Credit Reporting Act (Summary)

Public Law 91-508

The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his credit report on the basis of “completeness and accuracy.” If, after a reinvestigation by the credit bureau, the disputed information “is found to be inaccurate or can no longer be verified, the [credit bureau] shall promptly delete such information.”

The credit bureaus are required to complete the investigation within a “reasonable period of time.” This period has been set at thirty days.

The credit bureaus can ignore the consumer dispute if they have reason to believe that the dispute is “frivolous or irrelevant.” The FTC commentary on the FCRA cites, as an example of a frivolous dispute, a dispute wherein the consumer challenges all negative items on his credit report without providing any allegations regarding specific items in the credit file. However, “A [credit bureau] must assume a consumer’s dispute is bona fide, unless there is clear and convincing evidence to the contrary.”

When a consumer challenges a negative credit listing on the basis of extenuating circumstances, such as health problems, divorce, job loss, etc., the credit bureaus are entitled to ignore that dispute.

When a consumer submits a dispute which is neither frivolous nor irrelevant by credit bureau standards, the credit bureau must “at a minimum… check with the original sources or other reliable sources of the disputed information and inform them of the nature of the consumer’s dispute.” In some cases of consumer dispute, “Reinvestigation and verification may require more than asking the original source of the disputed information the same question and receiving the same answer.”

In other words, when a consumer files or re-files a valid dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the information is accurate, verifiable, and not obsolete. In some circumstances, the credit bureau is required to go beyond a simple verification of the creditor’s own computer record. If, within 30 days, the credit bureau has not received verification from the creditor, then the credit bureau must promptly delete the credit listing.

In theory and law, the process is deceptively simple, thus leading many people to think that they can easily handle this themselves “for the price of a few postage stamps.” Most quickly discover that the credit bureaus have made it much more difficult than one would imagine. For help in this, we recommend using Lexington Law a professional credit report repair company.