Home Debt Settlement

Debt Settlement

How to Bounce Back Financially through Federal Debt Recovery Programs

How to Bounce Back Financially through Federal Debt Recovery Programs

What is Federal Debt Recovery?
Debt Recovery is a process within which individual debtors may rectify their financial situations that may have involved a varying nature of defaulted loans, incurred debt, or financial insolvency; although the process and procedure inherent within debt management may appear daunting at first glance, debt recovery may be both possible and achievable for individual and eligible debtors – the overarching classification as ‘debtors’ includes a wide range of financial circumstances, which may range from private citizens to commercial endeavors. 
While Federal Debt Recovery may range not only in complexity, as well is structure, government-sponsored Debt Recovery varies in accordance to pricing, standards, conditions, costs, consequences, and terms latent within an agreement undertaken between the debtor and the institution offering Debt Recovery options.
Mortgage Forgiveness Debt Relief Act of 2007

In 2007, former-President George W. Bush passed this debt recovery inspired legislative act in order to provide assistance to individuals who were affected by the collapse of the housing and property market shortly before the act’s passing. Mortgages are defined as secured loans furnished to recipients, both private and commercial in classification. Mortgages are furnished in order to allow eligible applicants the opportunity to obtain real property whose sales price exceeds the amount of capital in their possession. In the event of a defaulted mortgage, this type of secured loan may become secured debts in the event that the individual in possession of a mortgage fails to repay or satisfy the mortgage in question:
Debt Recovery through Scheduled Repayment

This Debt Recovery Act relieves eligible individuals the requirement to furnish income taxes on certain outstanding mortgage loans; in addition, this Debt Recovery Act offers eligible debtors the opportunity to avoid the filing for bankruptcy through mortgage loan restructuring, consolidation, and the availability of repayment plans enacted in order to stimulate Debt Recovery:
The standard repayment plan furnished through a government-sponsored Debt Recovery program provides for a standardized payment required for furnishing on a monthly basis on behalf of the individual debtor concerning the lending institution
The extended repayment plan furnished through a government-sponsored Debt Recovery allows for an extension of the repayment period concerning the life of the loan itself the time of the loan, which typically results in the lessening of the required, scheduled repayment amount
The graduated repayment plan furnished through a government-sponsored Debt Recovery provides for a variable repayment amount with regard to life of a defaulted loan
A prorated repayment plan furnished through a government-sponsored Debt Recovery allows for debtors wages, earning, and income to serve as a determinant factor with regard to the establishment of repayment amounts
Bankruptcy and Federal Debt Recovery

Although debt recovery may be achieved through the filing for bankruptcy, the penalties associated with doing so may vary with regard to their effect on an individual’s financial records, as well as on their credit history; however, in certain cases, a bankruptcy claim may prove to be the most sensible method of debt recovery available. Prior to filing for bankruptcy, you are encouraged to seek out legal counsel in order to obtain the necessary – and certified information regarding filing such a claim.

The Truth about Debt Reduction

The Truth about Debt Reduction

What is Debt Reduction?

Debt reduction is a financial and legal process within which the debt incurred by individual debtors may be significantly decreased through a variety of resolution and rectification; however, the provision of Debt Reduction should neither be viewed as magical, nor a quick fix – individuals undertaking measures in order to undergo Debt Reduction are encouraged to seek out viable, legitimate, and legal methods within which to reduce their respective debt. 
Although a variety of Debt Reduction methods exist, which are considered to be both reliable and effective, an equal number of illicit and fraudulent Debt Reduction programs exist in tandem with those considered to be legal.

Legitimate vs. Illegitimate Debt Reduction

The following facts may be reviewed with regard to the selection process of a Debt Reduction program in order to provide assistance in determining the best Debt Reduction for you:
Debt Reduction programs advertising upwards of a 70% reduction are largely considered to be not only unrealistic, but fraudulent, as well; while certain Debt Reduction programs making these claims may be legitimate, individuals are encouraged to seek professional counsel prior to engaging in any Debt Reduction program or opportunity
Amongst the most viable and effective means of attaining legitimate Debt Reduction is seeking out the advice of trusted friends, colleagues, and networks who have undergone debt resolution and management; upon seeking the advice of trusted resources who have participated in Debt Reduction, you may be able to gain initial acclimation to debt assistance programs offered prior to undertaking them
In the event that you are unable or unwilling to seek out the opinions of trusted friends or networks, undertaking legal counsel through a certified and accredited attorney specializing in debt legality, the analysis of Debt Reduction resources, and the provision of debt management strategies is considered to be amongst the most reliable and efficient options
Profit Debt Reduction vs. Non-Profit Debt Reduction
Non-Profit Debt Reduction is a type of financial, procedural, and strategy-based resource offered by a financial institution on a non-profit basis, which allows individual debtors – both private and commercial to undertake opportunities to formulate plans in order to relieve or resolve the entirety of the respective debt incurred; a non-profit Debt Reduction differs from commercial Debt Reduction resources with regard to the manner in which the service itself is provided. 
Typically, a non-profit Debt Reduction will operate in one of 2 ways; the first method occurs through the oversight or funding provided the jurisdictional governing body – the second method takes place in the form of a pro-bono Debt Reduction resource program instituted on individual prorating or charity. However, both non-profit debt reduction programs, as well as those considered ‘for-profit’ might offer the following resources:
Debt Reduction through Consolidation allows individual debtors to combine the entirety of their debts into a single debt within which a single interest rate is applicable concerning its repayment
Debt Reduction through Debt Settlement allows individual debtors the opportunity to agree to furnish a decreased repayment in lieu of the gross amount of the debt in question; however, this type of Debt Reduction may require the debtor or debtors to furnish repayment in a single lump sum payment

Understanding the Process of Debt Relief Order

Understanding the Process of Debt Relief Order

What is Debt Relief Order?
The process of Debt Relief Order, which is commonly defined as ‘Debt Adjustment’ is the financial procedure of structuring, developing, or organizing a strategic debt management plan fashioned in order to allow individual debtors the opportunity to achieve debt relief through the creation of supplemental activities and requirements concerning their outstanding debts; as its name suggests, the Debt Relief Order procedure allows eligible debtors the opportunities to undertake repayment or relief efforts structured in order to meet their financial needs and abilities. 

Types of Debt Relief Order 

The following terms are amongst the most common types of Debt Relief Order procedures undertaken by individual debtors:
Debt Relief Order through consolidation allows individual debtors the opportunity to combine their collective debts, which commonly include a variety of applicable interest rates in to a single, lump-sum repayment requirement; subsequent to undertaking consolidation Debt Relief Order, the individual debtor will be permitted to furnish scheduled repayments applicable to a single, overarching interest rate
Debt Relief Order through Debt Settlement allows an individual debtor to furnish a decreased, or fractioned amount of debt owed; however, the stipulations latent within this type of settlement-based Debt Relief Order may required individuals to undertake repayment at all at once – albeit an adjusted, reduced total
Debt Relief Order through bankruptcy allows individual debtor to achieve debt relief through the filing of a bankruptcy claim; although this measure of Debt Relief Order may not be the most ideal in certain circumstances, subsequent to the undertaking of legal or financial counsel, an individual debtor may discover this type of Debt Relief Order to be the most sensible and effective relating to their respective debts incurred

Debt Relief Order Payment Restructuring

In the event that an individual debtor chooses to participate in the adjustment of debt repayment, the following 4 options may be applicable with regard to the finalization of an individual repayment plan:
Standard repayment Debt Relief Order program provides for a standardized payment required for furnishing on a monthly basis on behalf of the individual debtor concerning the lending institution
Extended repayment Debt Relief Order allows for an extension of the repayment period concerning the life of the loan itself the time of the loan, which typically results in the lessening of the required, scheduled repayment amount
Graduated repayment Debt Relief Order provides for a variable repayment amount with regard to life of a defaulted loan
Prorated repayment Debt Relief Order allows for debtors wages, earning, and income to serve as a determinant factor with regard to the establishment of repayment amounts
Debt Relief Order Assistance
In order to get the best debt advice to meet the needs of your current situation, you are encouraged to explore the vast expanse of debt resources, planning, programs, and assistance available:
Amongst the most viable and effective means of attaining legitimate Debt Relief Order is seeking out the advice of trusted friends, colleagues, and networks who have undergone debt resolution and management; upon seeking the advice of trusted resources who have participated in Debt Relief Order, you may be able to gain initial acclimation to debt assistance programs offered prior to undertaking them
Individuals are also encouraged to seek accredited legal counsel with regard to the selection process of a debt relief order program

4 Myths Revealed about Debt Relief

4 Myths Revealed about Debt Relief

Debt relief exists and is a realistic option to resolve credit card debt and avoid bankruptcy… but beware of consumer scams that sound too good to be true.
A wide range of opportunities exist with regard to the undertaking of Debt Relief resources, the multitude of options available increases the chances for the individual debtor to locate the ‘right fit’ for their respective needs. However, upon the investigation of Debt Relief opportunities, a variety of myths exist regarding the nature of Debt Relief; the following article may clarify inconsistencies and fallacies associated with Debt Relief.
Statement 1: Debt Relief Programs are All Legitimate

MYTH. Debt relief programs advertising upwards of a 70% reduction are largely considered to be not only unrealistic, but fraudulent, as well; while certain Debt Reduction programs making these claims may be legitimate, individuals are encouraged to seek professional counsel prior to engaging in any Debt relief program or opportunity.

Statement 2: Debt Relief Advertisements are the best way to find Debt Relief Programs

MYTH. Amongst the most viable and effective means of attaining legitimate Debt Relief is seeking out the advice of trusted friends, colleagues, and networks who have undergone debt resolution and management; upon seeking the advice of trusted resources who have participated in Debt Relief, you may be able to gain initial acclimation to debt assistance programs offered prior to undertaking them:
On one hand, seeking out the advice of trusted networks and individuals may assist you in preparation and understanding regarding the requirements and practices involves in the process of debt resolution through Debt Relief
On the other hand, the participation – and completion – of such Debt Relief resources by a trusted network may prove to be an effective filter for avoiding illegitimate scams and illicit, fraudulent Debt Relief resources



Statement 3: There is no free Debt Relief 

MYTH. Non-Profit Debt Relief is a type of financial, procedural, and strategy-based resource offered by a financial institution on a non-profit basis, which allows individual debtors – both private and commercial to undertake opportunities to formulate plans in order to relieve or resolve the entirety of the respective debt incurred. Typically, a non-profit Debt Relief will operate in one of 2 ways; the first method occurs through the oversight or funding provided the jurisdictional governing body – the second method takes place in the form of a pro-bono Debt Relief resource program instituted on individual prorating or charity.

Statement 4: Bankruptcy is not Debt Relief 

MYTH. Although bankruptcy may not be considered to be the most attractive option regarding certain individual debtors, attorneys and financial professionals alike may suggest that the filing for bankruptcy be the most sensible and effective measure of debt relief. While bankruptcy may vary with regard to its negative effects and consequences, in various cases, the filing for bankruptcy allows individual debtors with the debt relief most suited for their situation; prior to filing for bankruptcy, you are encouraged to consult with an attorney or certified financial counsel.

A Guide to Debt Settlement

A Guide to Debt Settlement

What is Debt Settlement?

Debt Settlement is a legal process within which individual debtors are granted the opportunity to relieve, adjust, or restructure their respective debt through the undertaking of various measures, efforts, and methodologies available through a variety of means; within the realm of Debt Settlement, an agreement to arrive on an acceptable settlement on behalf of both the debtor, as well as on behalf of the institution in ownership of the defaulted loan, which spawned the debt in question can be achieved with regard to a variety of ways. However, amongst the most common types of Debt Settlement takes place through negotiation between the financial institution in ownership of the outstanding debt and the respective debtor. 

Important Terms Associated with Debt Settlement Plans

The following classifications outline the most primary categories of individuals involved within Debt Settlement measures; you are always encouraged to consult with legal or financial counsel prior to undertaking or agreeing to any Debt Settlement plan:
The debtor is defined as the individual entity – ranging from private citizen to commercial endeavor – who has incurred debt through the inability or failure to repay an outstanding loan furnished by a lender or lending institution; with regard to Debt Settlement, the debtor will be responsible for agreeing to the adjusted terms of debt repayment through Debt Settlement
A lending institution, may be defined as the original entity owed repayment concerning the debt or debts in question; not only the origin of the debt in question, but also the formulation of the terms and conditions concerning the furnishing of the loan to the debtor took place through this institution; while the lending institution may undertake the furnishing of a Debt Settlement, it is not uncommon for a lending institution to sell outstanding debts to collection agencies
Collection agencies range from independent to Federal agencies that specialize in the undertaking of retrieving payment concerning outstanding debts, defaulted loans, or repayment requirements; a collection agency will typically purchase outstanding debt from lending institutions for reduced prices – once purchased, these agencies formulate and develop Debt Settlement plans in order to render profit, repayment, or both 
Types of Debt Settlement through Repayment


The following types of Debt Settlement plans undertake scheduled repayment plans:
A Standard Debt Settlement program provides for a standardized payment required for furnishing on a monthly basis on behalf of the individual debtor concerning the lending institution
An Extended Debt Settlement allows for an extension of the repayment period concerning the life of the loan itself the time of the loan, which typically results in the lessening of the required, scheduled repayment amount
A Graduated Debt Settlement provides for a variable repayment amount with regard to life of a defaulted loan
A Prorated Debt Settlement allows for debtors wages, earning, and income to serve as a determinant factor with regard to the establishment of repayment amounts
A Lump sum Debt Settlement plan allows the debtor to furnish a reduced amount for repayment in lieu of the full amount owed; however, this type of Debt Settlement plan may require the debtor to furnish the adjust – albeit decreased rate – all at once