Hot settlement topics - FAQs

I am being sued as a guarantor of a corporate note, although in fact I was the corporate president, action only as such on behalf of the corporation.

i can only afford 800.00 r/m with no interest

I am not sure I understand your question. What is your situation? Let me see if I can point you in the right direction.

In order to get a job i need to reduce my debt of 10,00 by at least 4,000? What will do you think will be the best way to do it?

Does settling debt with multiple credit card companies hurt your credit any more than settling with only one?

It depends on your overall debt mix and where your score is now. I am a former loan officer and have seen countless credit reports. You can contact me directly if you like and I would be more than happy to discuss it with you. You can email me if you like at email deleted...nobody wants your email.

inshort how will u explian ds

Debt Settlement Firms charge 15% of the total balance, Consumer Credit Counseling claim they are non profit. Ontrack Financial Group llc Beats both and the consumer is rewarded.





For_Immediate_Release:

United States of America (Press Release) February 6, 2009 --
Ontrack Financial Group llc Announces "pricing structure"

United States of America (Press Release) February 5, 2009 -- Williamsville, New York

At a time where americans are losing their jobs and looking for financial help, Ontrack Financial Group llc Is proud to announce their 6% flat fee. Eddie H. Saleh Jr CEO and Founder of Ontrack Financial Group llc stated, "our pricing structure beats all debt settlement firms, and puts the non profits to shame. A recent study placed our price structure against Consumer Credit Counseling of Buffalo a non profit firm." Ontrack Financial Group llc total program costs was $343.00 cheaper than CCCS of Buffalo and thousands cheaper than any Debt Settlement Company. "Many consumer advocates tell consumers to use a non profit company, this uneducated bias reflects on a growing discontent for the Debt Settlement Industry. Although Ontrack Financial Group llc founded the Consumer Credit Arbitration movement, they compete for the same clients as Consumer Credit Counseling and Debt Settlement Firms.
source: FPR


Since our inception on September 6th 2000, the employees of Ontrack Financial Group??? are helping to redefine the dream of financial security for the many who are burdened with excessive debt. By providing proven credit arbitration services, Ontrack Financial Group??? offers consumers a means to avoid bankruptcy and resolve their unsecured collection debt. Additionally, Ontrack Financial Group??? offers its clients educational, self-help tools that include a seasonal newsletter along with prevailing on-line articles and beneficial consumer related links as a means to stay abreast of a constantly shifting financial landscape.
We have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint. Individual results may vary based upon a client's ability to save funds, the amount of debt, willingness of creditors to negotiate, and the successful completion of all program terms.
Ontrack Financial Group??? is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, out services are unbiased and independent, which allows us to better serve the consumer.

For Credit Card debt settlement, what happens if one spouse is insolvent, but the other isnt?

I am trying to settle my cards, and know about the insolvency clause. However, if my spouse and I file joint, how would I alone be able to prove insolvency by IRS standards?

A good source for unbiased information on Debt Settlement is The Truth About Debt Relief Radio Show hosted by Doug Johnson. His show has helped me clear up a lot of confusion and it is easier to listen to podcasts than to have to scroll thru and read many pages of forum posts to get the information.
Nirmaline

I started my own Debt Settlement company because I saw that companies charged fees that were simply too high. I dont know why anyone would pay such a high fee before your debt is settled.

I base my fee structure on what I save my client as well as having a sliding scale. So, the more debt they have the smaller my fee. By only charging my fee on what I save them I feel I am actually earning my fee.

I also contact the creditor asap, issue Cease and Desist notices verify debt when needed and stay on top of the situation. I have been able to settle debts very quickly for my clients before they are even late or 20 days late.

I am happy to help, I started doing loan modification and realized a lot of people charged up their credit cards because they were in trouble.

By only charging a small retainer and the fee when the card is settled I believe that is how all companies should work.

Removed, solicitations are against the TOS, Shazzers

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I definately agree with the debt collector above. Some companies charge outragious fees. The let you get a charge off, and may wait such a long time before they even contact your creditor. What is the point. You have paid them their fee of 15-18% when you could have paid off a credit card with that money... what if they dont negotiate for a long time. I think those rules should be changed and they should only be allowed to charge a retainer then a % of the savings. Why do they feel they can take advantage of people who are desperate?? Doesnt make sense to me.

Hi Common Sense Debt Relief,
I have a question for you, Your job is to settle after the card has been charged off? I would be interested in know what types of settlement you are allowed to settle for? That way I know when Im calling in for a client. I get so much bull when I call certain cards.

Its all over the board what they are willing to settle for. Anywhere from 18-50% and this is for clients who are current to 6 months late. Some times they are easy some times not. My guess is they get paid a commission, what is your take on why they settle sooner for some clients. Is it the hardship? How can I help settle my clients sooner so they dont have a bunch of lates??

Thank you..

Hey moderator...Im a little confused..
you took of my name. I guess were not allowed to post names etc. but the person above sends links to your email to buy things??? Isnt that solicitaion.

Im sorry Im a little new to this please let me know what is allowed and not allowed. But getting an email sent to me for a solicitaion where they are trying to sell things seems a little over board.

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cash today mr ivor and mr aaron gershfield paid one million dollars to settle charges against them in nevada any one with loans outstanding refuse to pay them a penny as they have a list of conditions to obey as long as your arm
refer all calls to state attorney in nevada

http://www.ftc.gov/opa/2009/09/cash.shtm

It's true, Susan. Slimeballs have finally been shut down. Next round is criminal charges is what I'm hearing.