Free Counseling for Fast Debt Relief

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Many taxpayers in this country are now faced with a difficult situation and that is owing too much money to the government and not being able to pay. Today’s very difficult economic recession (some say depression) has created double digit unemployment across most of the country, with California and Florida two of the hardest hit states. As a consequence, many people that had good paying jobs in previous years are now faced with little or no income. Some are surviving on just their meager unemployment checks alone and as we all know, these do not last forever.

In years past, many people were self-employed or had jobs as independent contractors. Many of these jobs or small businesses were wiped out by the economic downfall. For example, Real Estate professionals have been hard hit as a group. Most of these folks were independent contractors, working for loan brokerages or real estate brokerages and paying their taxes either quarterly or at the end of the year. Fall of 2007 saw the beginning of the recession and was the pivotal time for real estate because that is when banks ceased lending. The problem was that they did not tell the customers that they had stopped all lending, so applications continued to come in the door. Agents and brokers continued business as usual thinking that if they brought in buyers and borrowers that the banks would eventually get around to approving and funding the loans. Unfortunately the banks did not tell anyone until months later and event then they were in a state of pure denial. By this time most realtors and loan officers were faced with dwindling bank accounts and forced to face the realization that the banks were just not playing along any more. Taxes owed mounted for these people worse perhaps than any other group in the U.S. and no IRS tax relief was in sight.

When it came time to pay their taxes these real estate pros found that they could not catch up and pay their back taxes. For example, if you made $100,000 in 2006, you expected to be able to pay your 30% the following year from your savings. Since most of the savings had evaporated while waiting for banks to approve loans, these same hard working people found themselves with no money to pay the government. There are millions of people in this situation and the government has gone after them hard. There are several ways to get IRS debt relief but none of them are easy.

There are companies like Tax Masters that offer services where they will negotiate with the government on your behalf in order to get you IRS debt relief. If you owe over $10,000 in back taxes, you need to either make a payment arrangement with the government or hire a company like Tax Masters to do it for you. It is not easy to get these arrangements so it is wise to hire a professional. They will get you the IRS debt relief you need but it will cost quite a bit to do it. These guys are not cheap and you need to know that going in. The other alternative is to just call the IRS yourself and ask for a payment plan to catch up and get some IRS debt relief. They also offer an Offer and Compromise program where you can pay pennies on the dollar for heavy tax debts.

In past years, homeowners who had accumulated too many credit cards and were struggling under the burden of high interest rates and staggering monthly credit card payments were lured by the banks with products such as HELOCs, which stands for Home Equity Lines of Credit. A home equity line of credit was an easy way for borrowers who had sufficient equity to get debt consolidation refinancing without having to qualify for it. If you had good credit (if you had a pulse), you could get a HELOC. Very few homeowners were turned down. Even some with bad credit were able to get approved if they had enough equity.

Those days are long gone and many experts blame the proliferation of this type of easy credit on the current economic and housing crisis that we face in the U.S. and around the world. As properties increased in values in an unchecked manner, more and more Americans “cashed out” with debt consolidation refinancing vehicles like HELOCs, Cash Out Refinances, Pay Option ARMs (adjustable rate mortgages) and interest only loans. When the real estate bubble burst after the fall of 2007, many homeowners were left with long term debt from paying off their credit cards. Many realized too late that they would have been much wiser just saving a little and paying off their credit cards than to take out long term real estate loans to pay them off.

To many homeowners it seemed on the surface that these were good decisions. The interest rate was better and the payments more affordable in the short term. Of course the payments were lower since they were spread over a thirty year period. Unfortunately after doing the math they also figured out that for every ten dollars in credit card debt that they paid off in debt consolidation refinancing, they ended up paying another twenty dollars in finance charges over they years.

If you have been struggling with the burden of debt, click the banner below to get your Free Consultation from Curadebt.

Debt Counseling the CuraDebt way can certainly get you the results and the outcome that you have been waiting for. It will enable you to be able to come out of debt with the guidance and recommendation from the people who have been forerunners in the Debt Counseling and Debt relief domains since 1996.

Debt Counseling with the right company such as Curadebt will enable you to be able to get out of debt by following the quickest and easiest of routes to be found. The counselors at CuraDebt are trained professionals and this is the place wherein they will use their best of expertise and experience to get you the best possible help, help that is customized to suit your individual needs and requirements.

The Debt Counseling at CuraDebt is bound to enable you to be able to come up with viable solutions for yourself. Solutions that will help you get out of the situation as fast as possible and continue living your life, debt free. The professional help that you will get will be able to help you settle for monthly payments that you will be able to meet and will not be a burden on you. Also, you will feel far more empowered and in control of your life. Debt on one’s head can certainly make one feel as though life is spiraling downwards at a real fast rate with you having no control over it. however, with the simple and easy debt reduction plan that will drawn up by the counselors of Curadebt with your approval and in sync with you, will certainly enable you to be able to see yourself finally being free of all debt.

Debt counseling out here will ensure that you are known about the several options that are there in front of you and all of these are backed by money back guarantee. This is becoming mandatory in most states now, however, at Curadebt it has always been the norm. Debt solutions that we provide our customers with are not only tried and tested ones, but they are tailor made and further customized to suit individual and business needs. Therefore, we serve customers who are individuals and have got into the debt rut or businesses with debt and help to settle accounts that have turned delinquent.

At Curadebt, we believe in great transparency and what you see is exactly what you get. The counselors are honest and forthright and the most expert personalized service is what you get. All these facilities can come your way with the greatest of ease by filling out an online form or calling us.

Therefore, if you have been in the clutches of a vicious debt cycle for too long, and are looking for a company that can help you get the peace of mind that only a debt free living can fetch you, then Curadebt can certainly help you. We can help you in all the stages of debt management and provide you with the best negotiated deals.

If you have been struggling with the burden of debt, click the banner below to get your Free Consultation from Curadebt.

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Technorati Tags: consumer debt relief, credit counseling, debt relief

Just before the economic recession took over, a survey revealed that 2 in 3 Americans had one credit card and 1 in 4 Americans had more than three credit cards. The economic recession brought about with it some severe economic ripples like the sub-prime crisis and the infamous, global meltdown. On an individual level, job losses were widespread and quite naturally, credit card defaults rose up, significantly.

A credit card issuer reported a jump of over 60% in defaults during the last 2 years. Considering that a credit card repayment default could severely affect the FICO scores of an individual, credit debt solutions are worth considering.

Find out your credit debt solution options here

Basically, credit debt solutions work in 2 ways – 1) The bank offering the debt solution may offer to pay the credit and you pay the bank back at a lower interest rate, or 2) The bank may extend you an interim loan at a competitive interest rate, so you could settle the credit offered to you by another bank.

Either ways, by offering credit debt solutions, of which debt consolidation programs are considered significant; banks and financial institutions offer individuals one last chance to rectify their credit standings. Remember – Every default in a credit instrument could rob an individual of valuable points on the FICO scale and it is important for every individual to watch this aspect.

Credit debt solutions would also factor in the paying capacity of the individual, considering the present situation and a forecasted future situation. For example, a person without a job today and with a lot of debts could still go in for credit debt solutions, stating he could be working in some months time. In such a scenario, the individual would be asked to inform the bank of subjective specifics, like how much money could he earn by salary and how much money he could pay the bank and so on.

Remember one thing – Credit debt solutions work as debt relief programs only if the individual desires to participate in the solutions provided to them by the bank. The bank may alleviate some burden off the individual by probably extending the time of payment and probably even reducing the rate of interest of the repayment, but these measures work only if the person is diligent enough in paying back the restructured debt.

On quite a few occasions, debt relief programs have failed and one of the main reasons for that is people have not been committed to the debt solutions provided to them.

If you have been struggling with the burden of debt, click the banner below to get your Free Consultation from Curadebt.

Technorati Tags: Debt Counseling, debt relief, debt solutions

Popularly known as the MDRI, the Multilateral Debt relief initiative was proposed by the G8 nations. Under this proposal, the IMF (International Monetary Fund), International Development Association (IDA) and the African Development Fund (ADF) were asked to cancel the remainders of the debt of certain countries who had repaid a majority of the debts back to these institutes. The countries who proposed this initiative claimed that their debt repayment allowed their countries to qualify for the Initiative for Heavily Indebted Poor Countries (HIDC). Countries who filed for this claim needed to have good macro-economic policies but also needed to show a per capita income of $380 by the end of 2004. This document on MDRI was applicable on the nation-level, but a lot of this could be translated to the individual level, to understand how banks extend debt relief to individuals too. Though, some of the concepts related to debt relief extended to individuals could be different and debt consolidation is not something that could be used here, the basic fact that banks could offer relief in debt only if they feel the individual has done enough to repay his debt, remains.

Thus, to qualify for debt relief, at least in terms of cancellation of a portion of debt from banks, an individual needs to meet the following criteria

• Should have repaid a majority of the debt to qualify for debt relief. Some banks quote the percentage to be at 85% of the debt, but this could vary depending on the bank.
• Should also support with necessary documents, the reason for non-repayment in future. This could be a loss of job or a sudden health reason and so on.
• Should the individual qualify for a partial debt relief, he should be able to quote the minimum amount he can pay towards the newly designed debt.

These factors highlight one important thing – Though debt relief is a concept that allows anyone in debt to claim for relief, not everyone could qualify for this. Here is a statistic for you – A leading bank in the United States of America claims that only 2% of applicants for debt relief are provided complete cancellation and that of a portion of the debt. The expectations should be set right at the start. For example, if an individual has only repaid 20% of a debt of $20,000 owed to the bank, he cannot and shouldn’t expect complete debt cancellation. In dire circumstances, where has been laid off by his company, he should look at debt consolidation as an option and not debt relief.

If you have been struggling with the burden of debt, click the banner below to get your Free Consultation from Curadebt.

Technorati Tags: credit counseling, debt consolidation, Debt Counseling, debt relief

On an average, one out of every four Americans land up in a debt crisis, popularly known as a personal credit crisis, although the use of these words could be a mismatch at times. In scenarios when an individual is neck-deep in debt and no solutions are found forthcoming, a debt relief program could work best for individuals.

Here’s how a debt relief program could help an individual work around his current state of debt affairs.

• Free debt counseling – It is extremely important for an individual how to prioritize his debts. More than 40% Americans don’t know how to set aside debts based on their priorities and interest rates, and often pay them of randomly. With a free debt counseling session, this knowledge can surely be gathered.




• Debt management consultations – A lot of individuals who look for complete debt elimination, when they speak about debt relief are proven wrong here. Debt relief at best, slows the growth of debt providing individuals with some needed time, so they could repay the debts. With debt management consultations, individuals can gain knowledge on how they can repay their debts off, in an extended period of time provided to them by their lenders.




• Debt relief consolidation programs – Often, this is one popular debt relief program referred to by people, when they wish to streamline their debts. In debt consolidation programs, a bank or a financial institution agrees to collate all the debts under one umbrella and offer people to repay their debt at a lower interest rate.

Some people think that banks are extending them a favor by doing this. May be the case, but banks make their profits by extending the time duration of the debt repayment. This way, they ensure people pay them almost the same amount with some margins included.

Debt relief programs are not necessarily on how banks and financial institutions deal with people in offering them solutions to work around their debt scenario. These programs also include educating people on how they should deal with their debts and what they should do to pay off the new debt provided to them by the debt relief provider.

Names may change here, but the basic concept of debt would still be hanging around the neck of an individual, if he continues to be lacking in focus with the steps dealing on his debt repayment. The point is – Whatever happens, individuals must ensure they pay off the new debt diligently.

The average US household debt in assets not related to mortgages is about $19,000, with credit card debts found to be topping the charts in this amount. With this kind of debt on your head, would you be able to sleep peacefully? Not only would you be in a financial soup, as it is clear, the sense of emotional turmoil in you is also understandable.

Fortunately, the good news is that with debt relief programs, the situation’s gravity could be alleviated for sure.

Get rid of your debt chains now. Observe your free debt counseling obtions here.

For a complete understanding of debt relief and how it helps individuals come out of a potential financial hole, it is important to know how most debt instruments work. In normal scenario, debts if not paid, accrue interest on them, resulting in them growing in value. Continuous default on debts results in the overall debt value spinning out of proportions. With debt relief programs, the growth of the debt by means of accruing interest could be stopped, or in some cases, can also be slowed or delayed.

This results in giving the borrower some time to recollect his finances and pay the debt installments. A lot of people agree though that this practice could only provide temporary debt relief to them, and eventually, they would have to pay back their debts.

How Debt Consolidation works?

Debt consolidation is a contemporary way of dealing with defaulting or bad debts. Banks offering debt consolidation programs to their clients would take control of all the high interest rate debts of the client and offer individuals a consolidated loan at a lower interest rate. To reduce their risks to the loan provided, banks insist on a collateral instrument like the borrower’s home, as a guarantee.

Debt consolidation works only in some cases. Importantly, it has to be noted that the borrower has to be diligent about his payments, once all his defaulting debts have been consolidated. A default in the debts with the consolidated loan could mean serious danger to him losing his home.

Credit card companies sometimes, offer debt consolidation as a way of debt relief to clients. For example, after debt consolidation of the credit cards, individuals might have to pay the outstanding balance on the card at a rate of about 14% as compared to the earlier rate of 18% APR.

In summary, any debt relief program or debt relief instrument could only work, if the individual is diligent about repaying back the debt relief amount. Remember – Debt relief probably has given the individual a new lifeline in order for him to pay his debts back and shouldn’t be misused.

Technorati Tags: credit counseling, debt consolidation, Debt Counseling, debt relief