Debt consolidation can become the never never plan and here is one of the reasons why!

#shorts #podcast #podcastclips #debt #consolidation #personalfinance

Debt expert Gordon Oliver, Director of Business Development at Cambridge Credit Counseling, breaks down how Debt Management Plans (DMPs) work, when they’re the right choice, and how they compare to bankruptcy vs. debt settlement. If you’re looking for debt relief options, this webinar is for you.

???? What You’ll Learn in This Webinar:
? How a Debt Management Plan (DMP) can lower your credit card interest rates & monthly payments
? When to choose a DMP vs. bankruptcy vs. debt settlement
? How to qualify & enroll in a DMP and what to expect
? The impact of DMPs on your credit score & long-term financial health
? The biggest mistakes people make when managing debt repayment
? BONUS: Expert budgeting tips & financial wellness strategies

––––––––––––––––––––––––––

???? Struggling with Debt? Take Action Now!

???? Learn More About Debt Management Plans:
https://link.upsolve.org/3X7aOj4

???? Book a FREE Debt Counseling Call:
???? https://calendly.com/camupsolve-appt/upsolve-appointment

????? Learn More About Cambridge Credit Counseling:
https://www.cambridge-credit.org/

????? Listen to the Financial Wellness Today Podcast:
https://open.spotify.com/show/5TiTZd2SXoE9onL3tikNdR

???? More Debt Relief Advice on YouTube:
https://www.youtube.com/user/CambridgeCredit

???? Considering Bankruptcy? Get Free Help With Your Bankruptcy Filing:
https://link.upsolve.org/4k4dbgA

––––––––––––––––––––––––––

? Timestamps:
00:00 Welcome and Introduction
00:20 Meet Gordon Oliver: Debt Management Expert
00:52 Understanding Debt Management Plans
02:51 Gordon’s Journey and Financial Wellness
06:11 How Debt Management Plans Differ from Bankruptcy
08:10 The Counseling Process at Cambridge Credit Counseling
13:59 Benefits of Debt Management Plans
17:26 Is a Debt Management Plan Right for You?
19:04 Understanding the Impact of Debt Management on Credit Scores
19:53 Exploring Bankruptcy and Debt Relief Options
20:22 The Importance of Evaluating All Debt Relief Options
22:06 Cambridge’s Additional Services for Debt Relief
23:37 Incentives and Savings in Debt Management Plans
25:51 Fees and Eligibility for Debt Management Plans
28:37 Educational Resources and Spending Plans
31:00 Final Thoughts and Contact Information

???? Subscribe for more free bankruptcy help & debt relief tips!

––––––––––––––––––––––––––

???? Upsolve is the internet’s leading nonprofit source of financial education. Nearly 3 million Americans visit Upsolve.org each year. Our services are 100% free. Here’s how we do it: https://link.upsolve.org/4gNcjKg

???? My Book is Now on Amazon: https://www.amazon.com/dp/B0DSLT8SRZ

FREE STOCKS:
???? https://a.webull.com/i/ClearValueTax
Receive FREE STOCKS (as a sign-up bonus) when you open a free account.

? Support Our Work on Patreon: https://www.patreon.com/ClearValueInvesting

???? Free Financial Education on Our Website: https://clearvalueinvesting.com/

???? Need a Small Business Loan?
We can help you get financing at ClearValue Lending: https://bit.ly/3ZQcgIM

ClearValue Tax and affiliates and related parties do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Thank you for your support!

Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!

Debt mediation, also known as informal debt restructuring, is a process where a neutral third party helps facilitate an agreement between you and your creditors to restructure your debt. Here’s how it works:

Benefits of Debt Mediation
1. Reduced debt burden: Negotiate lower monthly payments or reduced debt amounts.
2. Avoid bankruptcy: Mediation can help you avoid bankruptcy and its associated consequences.
3. Improved credit score: Successful debt restructuring can positively impact your credit score.
4. Less stress: Mediation can reduce the stress and anxiety associated with debt collection.

How Debt Mediation Works
1. Initial consultation: Discuss your financial situation and debt obligations with a debt mediator.
2. Creditor notification: The mediator notifies your creditors about the mediation process.
3. Debt assessment: The mediator assesses your debt and creates a proposal for restructuring.
4. Negotiation: The mediator negotiates with your creditors to accept the proposed debt restructuring plan.
5. Agreement: Once an agreement is reached, you’ll make payments according to the new terms.

What to Expect
1. Temporary protection: During mediation, creditors may agree to temporarily suspend collection activities.
2. Fees: Mediation fees vary, but they’re often a fraction of the debt amount.
3. Credit impact: Debt mediation may initially negatively impact your credit score, but successful restructuring can lead to long-term improvements.

Finding a Debt Mediator
1. Credit counseling agencies: Non-profit credit counseling agencies often offer debt mediation services.
2. Debt management companies: Private companies specializing in debt management may also provide mediation services.
3. Professional associations: Look for mediators certified by professional associations, such as the National Association of Consumer Advocates.

When selecting a debt mediator, ensure they’re reputable, experienced, and transparent about their fees and process.

This video is based on information taken from open sources. The information is presented in the form of an author’s review, but this does not mean that the author of this channel agrees with the information from the original source. This video was created to draw attention to current problems in society and does not call for following the information presented and the author’s point of view. On the contrary, we ask you to make decisions only after independent research. If any information from this video seems unreliable to you or contradicts any policy of the YouTube service, then write about it in the comments and we will immediately fix the problem.

Source: Elon Gives Huge DOGE Updates to World Governments https://youtu.be/-4LOoxK4j4A?si=WeezolS34lAHS_Ff

This is how a debt consolidation loan looks like in 2024. What do you think of these numbers? If he is disciplined to not run up the credit cards again, this is a great decision, because with just making the minimum payments towards the credit cards, it would have taken him well over 30 years to ever get close to getting out of debt. Now, through the loan, it’s only going to take him five years. Do y’all think he should have done Debt management or Debt Settlement instead? This person still has a good income, which is why I think the loan will work out but it all comes down to discipline. follow to learn more. To become a client, go to the link in my bio today. ##debtconsolidation##debtconsolidationloan##sofi##creditcarddebt

Not all debt is bad. ???? Know the difference and leverage it to grow your future! ????

#SmartDebt #MoneyMoves #FinancialTips #DebtFreeJourney #DebtFreeCommunity #WealthMindset

Get the most out of a veteran debt consolidation loan with these strategies: ???? https://bit.ly/AL-Debt-Consolidation-For-Veterans

As a service member, a veteran consolidation loan could help you tackle debt. It allows you to combine multiple debts into one single loan with potentially better terms, lower interest rates, smaller payments, and less stress.

Veterans have several options for loans. Personal loans, home equity loans, or even specialized VA-cashout mortgages may be available based on your circumstances.

If loans are not an option, debt resolution may be your next step. Be sure to look at all of your possibilities to see what makes sense for your financial future.

Learn more about military veteran consolidation loans at Achieve.com

Achieve helps everyday people, like you and me, deal with debt and get more cash flow. Achieve is all about solutions. Different solutions for different needs, but all created to meet you in your moment.

Speaker Johnson says the debt ceiling may be an aspect of House Republicans’ reconciliation bill.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

This is a recording of a webinar held by Victorian Small Business Commissioner Lynda McAlary-Smith on Wednesday 5 February 2025. It provides an overview of the farm debt mediation process.

Did you know that creditors can’t pursue a farm debt in arrears until they’ve satisfied the Victorian Small Business Commissioner that they’ve mediated, or attempted to mediate, in good faith with the farmer in arrears?

This protection is legislated in the Farm Debt Mediation Act 2011, which provides farmers with the right to mediate farm debt.

Mediation provides an equitable opportunity for farmers and creditors to sit down together and develop a workable solution to resolve farm debt disputes.