Credit 911 | Debt Settlement

Questions

alt What is the goal of debt settlement?

Debt settlement allows you to regain control of your life, while making more comfortable payments.

What type of debt can I enter into the program?

Credit card debt, medical bills, department store card debt, and personal loans as well as almost any collection accounts can all be entered into your debt settlement program.

Debt Settlement Can

Cut your payments by up to half immediately

Get you completely out of debt in 36 months or less

Avoid bankruptcy

Facts

Total U.S. consumer debt (which includes credit card debt and noncredit-card debt but not mortgage debt) reached $2.56 trillion
at the end of 2008, up from $2.52 trillion at the end of 2007.
(Source: Federal Reserve's G.19 report, February 2009)

As of March 2009, U.S. revolving consumer debt, made up
almost entirely of credit card debt, was about $950 Billion.
In the fourth quarter of 2008, 13.9 percent of consumer
disposable income went to service this debt.
(Source: U.S. Congress' Joint Economic Committee)

Consumers have racked up more than $2.2 trillion in purchases and cash advances on major credit cards in just the last year. And it's become a habit for them to spend more than they have. The overall credit card debt grew by 315 percent from 1989 to 2006, according to public policy research firm Demos.

To compound the problem, fewer people are paying their credit cards bills on time. The percentage of people delinquent on their credit cards is the highest it's been in three years, according to CardTrack.com.

From the Blog

Debt Ceiling Deal includes Last-Second Screwing of Graduate Students

by Elie Mystal The worst thing about being betrayed is the loss of innocence and optimism that forever changes the victim of the betrayal. The reality is so stark you can literally see it on people’s faces as they realize the extent to which an ally has turned on them. Robert the Bruce saw it on William Wallace’s face in Braveheart. My wife saw it on my face when Obama agreed to the debt ceiling deal. And you are going to see it on the faces of the young and educated when they realize that, once again, the president has sold them down the river for the cause of electoral expediency, even as Obama’s numbers drop so low that his heat can only be measured in Kelvin degrees. In the total debt ceiling cave-in that will mark Barack Obama as the most successful Republican president since Ronald Reagan, there was one cut that really illustrates how little the... Read more...

He Caught the Ball but his Student Loans are Trying to Catch him!

The Fan Who Caught Jeter’s Ball Still Has A Few Hundred Thousand Dollars In Student Loan Debt Every morning, the fine folks at Sports Radio Interviews sift through the a.m. drive-time chatter to bring you the best interviews with coaches, players, and personalities across the sports landscape. Today: Christian Lopez probably should have taken an econ class. Christian Lopez joined WFAN in New York with Ed Randall to discuss if he got any sleep on Saturday night after catching Derek Jeter's 3,000th hit, thinking he would catch Derek Jeter's 3,000th hit, his thought process as Derek Jeter stepped up to the plate looking for his 3,000th hit, the reaction he's been getting from family and friends after catching Derek Jeter's 3,000th hit, there ever being a thought to not give the ball back to Derek Jeter after he caught it and his girlfriend jokingly wanting him... Read more...

2011 College Grads Moving Home In Record Numbers, Saddled With Historic Levels Of Student Loan Debt

by Amanda M. Fairbanks While one's college graduation is normally a time of jubilation, Megan Muller can more than relate to the sense of defeat that now hangs over the class of 2011. Muller, 26, graduated from Kean University in Union, N.J., yesterday with a bachelor’s degree in communication. She is the first person in her family to graduate from college. Like many graduates, she's now faced with the larger worry of living back at home while also paying down vast amounts of debt. All along, money’s been a chronic source of anxiety. In order to finish, Muller took out more than $70,000 in student loans and has another $10,000 in credit card debt. Midway through college, after transferring and taking a few semesters off, Muller moved back in with her parents in order to save money. And until she can move out and find her own place, it’s the... Read more...