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Old 01-22-2009, 10:18 PM
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Location: maryland usa
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Default Credit Card Debt Settlement Advice

My average client has $30K in credit card debt, has never been late, the cards are maxxed out and is making the minimum payment.

What are the available choices?
a. Do nothing~the worst thing you can do. Avoiding the debts will bury you
b. File BK~will haunt you for the rest of your life, can prevent you from getting a job, has heavy attorney fees
c. Debt Settlement~get out of debt in 2-4 years, reduce your debt by 60%, repay with no interest

C is a no brainer

Last edited by steve a; 01-22-2009 at 10:26 PM.
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Old 01-27-2009, 05:14 AM
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Location: Michigan/Grand Rapids, USA
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Default Re: Credit Card Debt Settlement Advice

Who is teacher YunFeng?

Teacher YunFeng is a technology researcher has traditional China’s characteristic person. He is different from technology researchers of classifications and categories currently and is a chaste person for combining all of knowledge to the whole body. He researches fields that including politics, finance, natural disaster, individual fortune, education and so on. Below is an article I wrote for YunFeng’s opinion of economy crisis.

Recently, YunFeng especially attentions to each country’s solve blue print and find a question! Their blue print is particular quickly come out. However, we don’t know whether these national sovereigns though those or not. How do they consider the final result? Whether they can solve economy problem or not?

National finance should budget and use carefully and every minuet and every centi that should have practical value. If you blindfold use, then it will make the whole of national finance sink as deep as possible in the bog pool. Recently, there is a news report “A big shot of USA demand government save Prostitution and apply 50 billions dollars to save them”. The news report made me amazed! I might get two conclusions in the news report. 1. The Pornography Industry is a big interest group. They may demand lots of money from congress to save their crisis. 2. The finance of USA government is open Gold Mountain and Silver Mountain. They are satisfied with private business’s wish what you want to get and I just give those to you. For this kind of event, China will not pay attention to this loony tone request. After all, the private businesses are no power to demand financial aid what nation gives! Native money should be treasure instead of make meaningless victimization from take taxpayer funds. Does the pornography industry pay taxes over 50 billions? So the sovereign makes decision of national finance that should carefulness and carefulness, wariness and wariness!

Although Iceland is a small country but their banking business possesses important position in Europe and world. During the 1990s, the stock market was prosperous; there is money of many interest arbitrage businesses that swarm into market in particular and excite banking development quickly. Let’s see the situation after Iceland was steeped to the lips in economy problem. Up to Oct 9th, 2008, the former three Banks (Kaupthing, Landsbanki, Glitnir) were taken over by government. According to the statistics, the three banks owe a debt that is six hundred and ten billion dollars; it is 12 times of economic aggregate, about two hundred thousand dollars per person.

Upwards is simple summarizing of Iceland. The incumbent prime minister ever occupies finance minister and banker in Iceland. The banking business developed and achieved the much higher level. As a result, he put banking business of Iceland to Primary Industry, and it is his fault.
The Friday of October in 2008, the bank of Reykjavik occurred stand in a line and run on a bank situation in Iceland. The common people took out their deposits and put into safest accounts. A spokesman of supermarket announced that no money import food from overseas and a lot of people swarmed into supermarket and bought commodities and store goods at home on that night. The island country has a 320,000 population and was evaluated “fittest live of country” in 2007 by United Nation, but the Iceland become first hapless country under the economy problem in USA. Iceland is faced with entire breakdown of economy market. The currency devaluated rapidly, national grade was dropped continually; foreign banks already broke off banking business with Iceland. Iceland's foreign exchange resources will be dried up; it is high for national debt fell back, and so on.

It is thus clearly obvious that the decision fault of national sovereign will cause lots of common people to suffer! There out, we can see national sovereign, lacking prediction ability widely. It is especially outstanding when they face economy problem. The example of Iceland reflected everyone’s presence all the other countries in the same situation.

The economy problem broke out in USA 2008. The beginning of 2009, the economy problem just beginning in the world! Aforementioned private business sought their benefit and demand government’s financial aid. They didn’t know the light and weight from their benefit and national benefit! If the government keeps the trend, then the national treasury will be red figure in the final no matter Gold Mountain or Silver Mountain. Although, the government is satisfied with the desire of some interest group and put government’s hand in government’s pocket. The key problem is society that was composed of upper class, middle class, and underclass. If the national treasury is empty, how to solve the problem of employment of middle class and underclass and other problems? There is a law of hundred and thousand years comes out! If some class’s interest of society cannot be satisfied, then the civil strife will happen in this country. Any country is no way to escape from all over the world and it is foreordination.

We greatly don’t want to see the situation of “spend less money in indisposition, no money to cure the serious illness” happen in any country of all over the world. The money of government absolutely cannot get into the wallet of interest group.

The financial resources and national power of country is limited. It likes families and must complete with make both ends meet. Money will be spent out and empty whatever the house how rich is or how big is! A country is composed of many families. Everybody is au pair. Some paid taxes more than others, some paid taxes less than others. However they are same in the country’s eye.

Below is the goal we wrote this article.

Point at the situation I aforementioned, if government really gives money to these interest group, then the action equals “kill poor and save rich” to describe government behavior. It is a very woefully matter. If the national sovereign makes the final decision, then they do not fulfill and have a bad conscience for the title of president and prime minister.

The important problem is national leader who don’t know us. If they knew us and got YunFeng’s point, then they cannot make wrong decision. There is a huge problem-- no prediction ability what they did. We can tell what method should be used. Every country must have prophetic ideas when they make the rescue planning and must make it accurately. We can stand out and help them for the world's people and world peace. We can use our prediction to help national leaders and countries all over the world.


Contact method of YunFeng
QQ: 45165282
SKYPE: yunfenghao1(Only speak Chinese)
Our QQ Group17823871
JIAN CHEN20632342
SKYPE: chejian2046
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Old 01-27-2009, 12:46 PM
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Join Date: Jan 2009
Location: Utrecht, NL
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Default Re: Credit Card Debt Settlement Advice

Hi Steve

The challange of option "c" is to stay on track. To my opinion it is of crucial importance to pay a lot of attention to the motivational aspect of getting out of debt. Will power doesn't last in most cases and we are tempted to spend the payed off money again.

So WHY we want to pay off our debts will motivate. My experience is that it helps to write our goals including why down and have a look at it daily.
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Old 02-02-2009, 11:51 AM
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Location: pa
Posts: 13
Default Re: Credit Card Debt Settlement Advice

hello! I also had the same problem. I ended up using a debt settlement company and it worked out great. but be careful and do your research alot of companies are taking advantage of people in thier time of need and if you choose the wrong one, it will hurt you even more. you can also settle the accounts yourself, but i chose not to do this for many reasons. but you have to do something its not just gonna go away
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Old 10-03-2010, 07:37 PM
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Join Date: Sep 2010
Location: Australia
Posts: 7
Default Re: Credit Card Debt Settlement Advice

Go for option "C": CUT

Cutting on your credit cards
will save you a lot of money. The number one rule with a credit card is to pay off the total balance every month. Never incur interest on a credit card. If you can't do that, cut it up today. Even if you are getting the best credit card rewards around, if you are paying interest each month, you are losing money.
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Old 10-10-2010, 12:12 AM
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Location: NY, US
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Default Re: Credit Card Debt Settlement Advice

There's tons of scams out there. Be care. You can always call the credit card yourself and ask to settle up for less.
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Old 10-11-2010, 04:12 PM
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Default Re: Credit Card Debt Settlement Advice

I would suggest using a credit/debt counseling company to help you. Having a defined plan to follow is very helpful, and having someone there to help you get through your debt will make it that much easier!
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