Are you under debt review and looking for a way out? Or you’re over-indebted and looking for an alternative to debt review? Watch this video and learn more.

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What happens when you enter into a debt consolidation program?

Debt consolidation companies often promise to consolidate your debts and negotiate settlements with your creditors. These companies frequently advise people to stop paying their debts and to make monthly payments to the debt consolidation company instead. This is done with the hope that the company will be able to use those funds to settle certain debts.

Will a debt consolidation program stop creditors from reporting negative information to the credit bureaus?

Unfortunately not. If you fall behind or stop paying on a debt, the creditor is permitted to report the late or missed payments to the credit bureaus.

So, even if a person is current on the monthly payments to the debt consolidation company, they can still be delinquent on payments to their creditors.

Entering into a debt consolidation program does not automatically change the terms of a person’s agreement with a creditor. Unless your creditor agrees to change the repayment terms, you will remain bound by the payment terms of your agreement with the creditor.

The creditor is also permitted to take action to collect the debt, such as collection calls, lawsuits, and garnishing a person’s wages or a bank account, and the creditor can report delinquencies to the credit bureaus. Reports of missed payments to the credit bureau can hurt your credit score and impact your future borrowing capabilities.

How will your credit be impacted if the debt is settled?

If your creditor agrees to accept a balance less than the full balance that you owe to settle a debt, the account will still remain on your credit report.

Additionally, any missed or late payments prior to the settlement being reached will remain reported as well. Your credit report should reflect that there is no longer a balance owed. However, it is likely to also reflect that the debt was settled and not paid in full.

Should someone who is considering a debt consolidation program also consider bankruptcy?
Yes. It is common for people to believe that a debt consolidation program is a better option than bankruptcy due to concerns about the credit impact. However, the negative credit consequences associated with debt consolidation programs are less commonly understood.

There are actions that people are able to take to overcome credit challenges and accomplish their financial goals. In many instances, eliminating or restructuring debts through bankruptcy may put an individual in a better position to be able to rebuild credit quickly.

At Financial Freedom Legal, we offer free bankruptcy consultations that can be completed via telephone, Zoom, or in-person in Richmond, VA. We also offer flexible scheduling and are happy to meet with you on evenings and weekends.

Generally, an appointment takes approximately 1 ½ hours to complete. At this appointment, you are able to explore your options with an experienced debt relief attorney. There is no obligation to file. If you are considering debt consolidation, we strongly recommend also taking the time to learn about your options under bankruptcy.

www.fflegalva.com

Hear the story of Ashley and Chantal, a married South African couple who overcame financial struggles through the power of debt counselling. In this video, we share their journey from relationship strain caused by finances to a harmonious and debt-free life.

#Debtcounselling #marriageadvice #relationshipstruggles #financialtransformation #debtmanagement #loveandfinance #debt-freejourney #relationshipcounselling #financialsuccess #overcomingdebt #couplegoals #counsellingimpact #debtrelief #buildingastrongermarriage #debtcounsellingbenefits #marriedinCOP #marriedincommunityofproperty

#debtcollection #debtcollector #debtcollectionagency
https://www.advancedebtcollection.com.au/debt-collection-articles/mediation-in-debt-collection/

Mediation in Debt Collection

Mediation is a great way to resolve debt disputes if you having issues with a particular debtor relating to an unpaid debt or other issues, and are looking for a way to solve the issue while maintaining business relationships?

You may be feeling the weight of managing your customer relations and the need to collect debts, which can put a lot of pressure on you as a business owner.

After all, both of these elements are extremely important to managing your business and keeping it functioning. So, how can I effectively fulfil both of these duties to have a healthy and thriving business?

Mediation; that’s how!

Mediation is a great tactic that you can use to manage your issues with your clients without damaging your relationship with them too harshly.

It involves a third party, who is neutral to the arrangement, and who comes into the dispute to help guide towards a mutually acceptable solution.

In this video, our debt collectors we will discuss just some of the benefits of mediation and how you can use it with your clients to resolve your debt disputes amicably.

Why Use Advance Debt Collection?

As one of Australia’s leading debt collection agencies, the success of Advance Debt Collection relies on our ability to recover outstanding debts for our clients.

With over 20 years experience in the industry, Advance Debt Collection have honed our skills and developed effective strategies to recoup owed funds.

Our professional debt collectors at Advance Debt Collection understand the importance of collecting outstanding payments for businesses. With considerable training, we are able to collect on delinquent bills promptly and efficiently.

In order to preserve favourable relationships with creditors, our professionals also prioritise ethical and courteous methods. We have the competence to handle outstanding debts for businesses of all sizes, with a focus on both personal and commercial debt collection. Allow our skilled staff to assist you in resolving your outstanding bills right now.

The Debt Collection Process:

STEP 1 – Contact us with your debt enquiry
STEP 2 – We act within 24 Hours
STEP 3 – We get fast results
STEP 4 – You receive cash

You can submit your debt online here – https://www.advancedebtcollection.com.au/submit-your-debt-online/

Thank you for watching and don’t forget to like, comment, and subscribe for more debt collection-related content.

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Disclaimer: The content on this video and on our website is intended only to provide a general summary of information of interest. It is not intended to be comprehensive nor does it constitute legal advice. We attempt to ensure that the content is current but we do not guarantee its accuracy. You should seek legal or other professional advice before acting or relying on any of the content of this video or on our website. Your use of this video/website or the receipt of any information on this video/website is not intended to create nor does it create a client relationship. As a general rule, never get your legal advice from the Internet or YouTube.

The Congressional Budget Office has admitted that the US national debt cannot be repaid. So what’s the solution from the US Government and Federal Reserve, will this weigh on the election, and what will the result be for the stock market?

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? ? CONTENTS ? ?
0:00 The U.S. Can’t Repay Its Debt
1:00 How the Government Goes Into Debt
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8:15 Inflating Away the Debt
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Brandon van der Kolk is authorised to provide general financial product advice in Australia and is an Authorised Representative (Number 1305795) of Guideway Financial Services Pty Ltd, AFSL Number 420367. Any advice is general & does not consider your financial situation, needs or objectives so consider whether it’s appropriate for you. Read Brandon’s Financial Services Guide available from https://guideway.com.au/NewMoney.pdf. Past performance is not a reliable indicator of future investment returns.

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Sky News host Danica De Giorgio claims US Vice President Kamala Harris is “desperate” for more cash after reportedly ending up $US20 million in debt for her failed presidential campaign.

“After raising more than $US1.5 billion during her failed election campaign and ending up with $US20 million in debt, it seems Kamala Harris is desperate for more cash,” Ms De Giorgio said.

“The vice president is still reportedly pumping Democrat donors for money weeks after the election loss.”

Africa Melane speaks to Damon Sivitilli, CEO of Vantage Debt Management, to help us unpack the real role of debt counselling in South Africa.

Early Breakfast with Africa Melane is 702’s and CapeTalk’s early morning talk show. Experienced broadcaster Africa Melane brings you the early morning news, sports, business, and interviews politicians and analysts to help make sense of the world. He also enjoys chatting to guests in the lifestyle sphere and the Arts. All the interviews are podcasted for you to catch-up and listen. 
 
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Christmas is in TWO MONTHS! Get our FREE guide and we’ll show you how to save $1,000 https://bit.ly/2CHz2tu

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Our rental house got trashed! https://www.youtube.com/watch?v=m6ETbjLqIps

William Cohan, Vanity Fair, on whether companies may be over-leveraged as interest rates are on the rise.

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Sheila talks about how getting debt counselling from Credit Counselling Services of Atlantic Canada helped her get her life back on track.