Charles Phelan has been helping consumers become debt-free without bankruptcy since 1997. A former senior executive with one of the nation's largest debt settlement firms, he is the author of the Debt Elimination Success Seminarâ¢, a five-hour audio-CD course that teaches consumers how to choose between debt program options based on their financial situation. The course focuses on comprehensive instruction in do-it-yourself debt negotiation & settlement designed to save 1,000s. www.zipdebt.com
Discusses why credit counseling has come under attack by consumer groups for failing to do the job it's advertised to do. Explains the main reasons for credit counseling's failure to provide debt relief for most enrollees.
Discusses the "debt termination" or "debt elimination" scam, where promoters claim that debt can be "erased" using obscure legal documentation. Explains the bogus theory behind a scam that has bilked millions from vulnerable consumers.
Discusses the major flaw with most debt relief programs, namely their total lack of flexibility. Examines why the the fixed payment structure of most debt programs doesn't reflect the real-world budgets of most struggling debtors.
Discusses common threats and tactics used by debt collectors in violation of the Fair Debt Collection Practices Act. Encourages consumers to take action against collection harassment by filing formal complaints with state Attorneys General or the Federal Trade Commission.
Describes important differences between the three major approaches for debt reduction. Explains why debt termination is a scam, why non-profit debt management services are not always the best choice, and why do-it-yourself debt settlement is a superior alternative to bankruptcy.
Credit card debt is paralyzing millions of Americans today and sadly, thousands fall prey annually to scammers promising they possess a "secret legal loophole" that forces creditors to forgive their debts without repayment.
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