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Why Use a Consumer Debt Advocate?

May 31, 2011 By admin

by MyEyeSees

Why Use a Consumer Debt Advocate?

Why Use a Consumer Debt Advocate?

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Home Page > Finance > Credit > Why Use a Consumer Debt Advocate?

Why Use a Consumer Debt Advocate?

Posted: May 02, 2011 |

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Consumer debt in our nation has never been higher. The amount of debt consumers have accumulated over the past few years has risen to unprecedented levels. With so many Americans unemployed and the jobless numbers still at the highest level since the depression, many find themselves with debt balances that they are unable to pay down. The number of people who have accumulated debt beyond their means to repay has skyrocketed and many don’t know where to seek assistance.

There are a number of avenues a consumer with high debt can pursue. One is to turn to a consumer debt advocate for assistance. These are individuals who have been trained to assist consumers in managing, reducing, and even eliminating large debt. A trained consumer debt advocate understands the debt collection tactics of the large creditors, the laws that restrict what they can and cannot do, and can even speak for you as your representative, if you want, in negotiations with them.

After contacting a consumer debt advocate, you will be asked to sit down with them and go over in great detail your financial situation. It is important to be accurate, honest, and thorough in laying out of your debt and finances with them. By doing so, they will be better able to assess your specific situation and come up with the options available to you, which may include debt consolidation, reduction, and even debt forgiveness. They will guide you in putting together a plan of attack to eliminate your debt. It will not be easy, but when you are finished, you will have a plan, that if you stick to, will bring you out from under the burden of debt.

One of the greatest benefits of a consumer debt advocate is that they can, if you prefer, negotiate with the creditors to get your debt reduced or eliminated. This can be a great relief and stress reducer for you. Dealing with strong willed and pushy creditors is not for the faint of heart! Consumer debt advocates are experienced in doing this and will work with your best interest foremost in their minds as they negotate with hard nosed creditors. They will also do this objectively without the emotions that can often result when trying this on your own. This not only can increase stress levels but can also result in a less than desired outcome if mistakes are made while in a heated state of mind.

Anyone can certainly negotiate thier own debt, but if you are not confident in your ability to fight the necessary battles with creditors, using a debt advocate may a good choice for you. Not only can it be less stressful in the long run, but by doing so, can often result in a more desireable outcome for you.

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Article Tags:
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Consumer Debt Advocate Counselors

February 17, 2011 By admin

Counselors Commercial by Consumer Debt Advocate – Consumer Debt Advocate is a leading provider free debt consultations to thousands of debt ridden americans daily.
Video Rating: 0 / 5

Question by notacooninnh: If I file a Chapter 7 bankruptcy for my personal consumer debt, will it afffect an LLC I am 50% owner of?
All debt to be included in bankruptcy will be credit card and vehicle loan only. No debt associated with LLC is involved and all debt was aqcuired prior to forming the LLC.

Best answer:

Answer by ontopofoldsmokie
It might include the LLC. You can’t decide you aren’t going to pay creditors by filing chapter 7 while keeping assets in a business. If that were true you could run up all kinds of personal debt while throwing borrowed money into a business. Then just decide you aren’t going to pay it back and keep the business for free. If you have substantial assets they will try to get them or deny the bankruptcy.

Add your own answer in the comments!

Filed Under: Consumer Economic News Tagged With: Advocate, consumer, Counselors, Debt

Alert – Consumer Debt Advocate

September 12, 2010 By admin

Beware the commercials. Attorney Michael Mack, the CREDITman, warns consumers about debt settlement companies. See more at www.thecreditman.com.
Video Rating: 0 / 5

Consumer credit card debt, credit cards, consumer debt

Question by Kara: Are you carrying too much consumer debt?
I just read an article about how more and more people are now defaulting on their credit cards, in part due to the bankruptcy reform of 2005, and in part due to the sub-prime lending crisis.

Do you feel you carry too much consumer debt and do you worry about it? Or you do you figure that when things get “better” for you, you’ll just take of it then?

Best answer:

Answer by inskin
Thirty years ago, when we got married, my husband and I vowed not to ever owe on a credit card. It is something that we have been faithful to since then. We have never paid one cent of interest on a credit card. We only use credit cards as a ’mini loan’, and have set it up with our credit union to have it’s balance paid in full each month out of our savings account.

We have always lived within our means and have used that as a guide when making all of our financial decisions. Instead of getting used to 2 incomes when we got married, we lived on only my husbands income and banked mine (even though at the time, my income was greater). We didn’t start our family for 4 years so it was very tempting to vacation and buy ’stuff’. But we knew that someday, when we had kids, that we wanted me to be able to stay at home with them and living on one income was the only way we could do that. When we bought our first house, we had a large downpayment, because we had been banking my income. We bought a lesser house than we would have wanted because we could afford the house payment on one income. We fixed it up and sold it for a profit…. and then bought another fix up house and renovated it. The profits from these houses enabled us to build the house of our dreams years later and to pay cash for it. We have been mortgage free for about 22 years of our 30 year marriage.

I think it’s all about the choices you make. I have never had a brand new car and never will. Not because I can’t afford it, it’s a conscious choice not to. I drive a nice 2004 Intrepid that I paid cash for. We live quite well though most would call us frugal. Some people laugh at us because we clip coupons and bargain shop… but they are living paycheck to paycheck and we are not. My husbands boss laughs the hardest but he rarely has money in his pocket and can’t afford a vacation. We take one each year, sometimes two.

Granted, good health and continued job success are very important here but no matter what your circumstances I think financial health (not wealth) is something we should all strive for. We have a great financial planner who has helped us get on track towards saving for our retirement. So my advice to those who are in trouble is to meet with a good financial planner and start pulling it together as soon as possible… believe me, you will sleep better at night when you are debt free!

Know better? Leave your own answer in the comments!

Filed Under: Consumer Economic News Tagged With: Advocate, Alert, consumer, Debt

Consumer advocate takes the cake for some diners

August 1, 2010 By admin

Consumer advocate takes the cake for some diners
The country’s consumer watchdog has gone off half-baked, grumpy cake lovers say.
Read more on Stuff

Consumer Discretionary Fund Wins Popularity Contest
The iShares S&P Global Consumer Discretionary Sector Index Fund ETF saw unusual action Friday as volume jumped.
Read more on Forbes

Consumer Sentiment Sags To Lowest Since Nov.
National consumer sentiment plunged in July to its lowest level in 9 months on bleak prospects for jobs and income a year since the economic recovery began, a private survey released Friday showed.
Read more on Banker & Tradesman

Consumer confidence in economy hits 3-year high
CONSUMER confidence has reached levels not seen since 2007, with more people feeling they and the country will be better off in the coming year.
Read more on Irish Examiner

Filed Under: Consumer Economic News Tagged With: Advocate, cake, consumer, diners, some, takes

Consumer Advocate Says Protection Agency Should Be Like Harvard’s Elizabeth Warren

July 20, 2010 By admin

Marketing as Consumer Engagement

Image by stefanomaggi
In a changing environment, the best way to build value for an organization is to concentrate on the most important and solid part of it: the consumer. Marketing as consumer engagement aims at delivering experiences (product and services) in a way that’s both interesting and useful.

Jeff Sovern at Public Citizen has a simple message for the Washington bureaucrats who will soon create the new Consumer Financial Protection Agency: Put Elizabeth Warren in charge and build the agency in her image.

Why Elizabeth Warren, you ask?

I want the CFPB to be just like Elizabeth Warren. When I think of Elizabeth Warren, I think of someone who does the work to find out what the problems are, identifies the best solution to those problems; and works hard to make that solution a reality, even though it means offending powerful interests–which may be why there’s opposition to her appointment (if there is opposition). That’s how we got the CFPB, and that’s what we need in the CFPB. We need an agency that bases its decisions on empirical realities rather than ideology. Just like Elizabeth Warren. And if that’s what we want, shouldn’t the CFPB be led by Elizabeth Warren?

Just in case you’re not up to speed about why Sovern hearts Professor Warren, we’ve included this video from Consumers Union’s recent activist summit. And, yes, that is Bankzilla at the activist summit, devouring an innocent bystander as a shocked (OK, hysterical) Warren looks on.

I Want the CFPB to Be Like Elizabeth Warren [CL&P Blog: ]

The Consumerist

Filed Under: Consumer Economic News Tagged With: Advocate, Agency, consumer, Elizabeth, Harvard's, Like, Protection, Says, Should, Warren

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