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There are many types of "debt elimination", some legal and some are not. Bankruptcy is allowed under the U.S. Constitution. Credit counseling and voluntary repayment plans are legal. However, there are also plenty of debt elimination scams on the internent. These schemes are proliferating on the internet, and the organizers are charging borrowers substantial up-front fees and commissions based on the total amount of debt that can be forgiven. Members of the public are being harmed as borrowers generally pay significant amounts of money without eliminating or reducing their overall debt obligations - which of course is not in fact possible through any of these programs. The perpetrators of these schemes offer to take advantage of 'loopholes in the system' that will eliminate your entire mortgage for an up-front fee. Don't believe it. There are no loopholes.
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∙ 18y ago
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How does credit card debt elimination work?
Credit card debt elimination works by paying off the debt, therefore eliminating it. There are a lot of schemes for debt elimination but none work as well as working and paying it all off. Start with the lowest balance to get a feel for having something paid off.
What is a good strategy for debt elimination?
There are many different debt elimination strategies. One strategy involves consolidating your debt into one manageable payment through a debt consolidation program. Setting a budget and sticking to it is another way to eliminate debt.
What are some debt elimination ideas?
One debt elimination idea would include contacting a debt settlement company. You may also try contacting the creditor and arranging repayment options with them directly.
What is the name of a debt elimination company in Winnipeg?
There are a range of debt elimination companies available if you live in Winnipeg one example would be The American Fair Credit Council which is the leading industry trade group in the debt settlement industry.
What companies offer consolidation debt elimination?
There are many companies that offer consolidation debt elimination, but most are found at the local or regional level. Information on the types and quality can be found through the Better Business Bureau.
Where can one find debt elimination services online?
There are many options for debt elimination services online. The best option is to visit your financial institution's website to see what kind of services they may be able to offer you as an existing client.
What is the best debt elimination plan?
The best debt elimination plan is to write down all of the outgoings and all of the incomings honestly. Then look at the lists and see how the outgoings can be reduced to meet the incoming figure total more closely or be made smaller than it.
Is it legal for a debt collection agency to discuss your debt with your landlord?
No.
Where can one get advice on consumer debt management?
There are several places one can get advice on consumers debt management. These websites include Consumer FTC, Debt Elimination USA, and Money Management Org.
Where can one find information on debt elimination help?
Dept elimination information can be found in a few places. This includes firms that specialize in this type of help or a local bank that people use may have information.
Is it legal to discuss debt with spouse?
Yes
Is it legal for a debt collector to leave a phone message this is an attempt to collect a debt?
It is only legal for a debt collector to leave a phone message if it is your personal phone. They can not leave a message if others are able to hear it.
