On Eliminating Debt

I heard a radio avertisement to eliminate debt by a group called Campos Chater Law Firm is this the real deal?

They say they've helped thousands of people, basically what they claim to do is buyout all your debts which lowers the cost, charge you their interest free fee and you pay them off just like that. My personal debt is one $6500 charge off and one $6500 consolidation loan. The guy told me that they can get my total down to anywhere from $4500 to $10000 from $13000. Will these guys actually help me or is there another option?

Ok, here is what they generally do. They will have you sign a limited power of attorney and fill out a cease and desist to send to your creditors. Then, when you have enough funds accumulated, they attempt to settle your debt. All of this time, no payments are being made and it crushes your credit score. They aren't the only firm that has gotten into this business of debt settlement, there are many others, as well as debt settlement companies that do the same thing. But, now banks/creditors are fighting back after numerous requests to stop taking on their current customers. I work for a large global bank who will not work with these types of firms/agencies. In fact, as soon as we receive a cease and desist along with a power of attorney, we immediately send the account for legal action. Many big banks are taking this route, yes, they may be a law firm, but when the large banks file suits on thousands upon thousands of people, these guys won't be able to keep up. I know of four major institutions that will not deal with these types of companies/firms; Citi, Bank of America, GE Money, and HSBC. I would make sure your outstanding obligations aren't to any of these banks before you sign up with one of these companies. Anyway, you can settle accounts by yourself, so why pay someone? These guys know that an account must be delinquent for a bank to generally offer a settlement, so....that's what they allow happen. Then they try to settle for their 45% or whatever they promised. As for the charge off, try to settle it by yourself, but I would ask one question of the agency. Ask them if they own it or if they are working on behalf of the original creditor. FYI...Generally the most an outside company buys a debt for is 15 cents on the dollar, offer them 20 and they've made their profit. Good Luck.

Credit Card Debt Relief Now and Eliminate Debt

We all have credit cards and from time to time we charge them up too high and this makes it hard to get out of debt. Managing your credit card debt can be a hard thing to do and getting free advice from a specialist can be one of the best ways to eliminate your debt. Remember that we are not all experts on financial issues and sometimes it is better to let someone handle these areas of our lives that we do not know a lot about. You should never feel bad because it is hard to manage your finances all the time and if you, like most of us, are not seeing your income rise fast enough then it can be even harder.

Find Free: Debt Relief Now

It is always better for your finances and your health to stay out of debt but this is not always possible. It seems like every time we turn around the cost of everything that we use keeps rising and this makes it hard to keep our credit cards payed off. It is important that you have an idea of what you are spending money on each month so that you can decide what things that you can eliminate out of your spending that will give you more money to pay down your bills.

You Can: Eliminate Debt Today

Remember that when dealing with credit card debt there are experts who know the ins and outs of the financial credit business and they can give you the free advice you need to eliminate your debt today. Take control of your finances and get the help you need.

About the Author

Bryan Burbank is an expert in the field of Finance and Debt Relief. For more information go to: http://www.bigloanguide.com