Comments on: credit cards – Google News http://creditchopshop.com/credit-chop-shop-elder-posts/credit-cards-google-news/#utm_source=feed&utm_medium=feed&utm_campaign=feed The Credit Chop Shop Thu, 29 Oct 2009 00:12:20 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Steven http://creditchopshop.com/credit-chop-shop-elder-posts/credit-cards-google-news/comment-page-1/#comment-38 Steven Thu, 29 Oct 2009 00:12:20 +0000 http://creditchopshop.com/?p=20#comment-38 SO what is the deal with debt relief companies anyway? What do they do and how do they operate? Debt relief companies or debt settlement companies work with consumers to lower the amount of a debt. A consumer must typically be delinquent at least 90 days for a debt settlement company to be able to start negotiations with a consumer. The consumer will pay the debt settlement company a service fee of 15-20% and the debt relief company will reduce the debt amount to around 50% once it is charged off. This can have long term negative effects on a consumer's credit report. Some debt relief repayment plans last 36 to 48 months. Once the debt relief company gets enough money to pay a single negotiated debt it will do so. It usually pays the debt in a lump sum. After the debt is paid the debt may report on the credit report as "Settled, Paid as agreed." Bankruptcy may be a viable option to debt relief as it not only eliminates the debt but it also eliminates the tax liability for the negotiated principal amount. For more information and to see if t=your credit can be helped, contact CMA Financial Corporation. We are a Texas Credit Services Organization that specialized in credit repair. Email spalmieri@cmafinancialcorp,com SO what is the deal with debt relief companies anyway? What do they do and how do they operate? Debt relief companies or debt settlement companies work with consumers to lower the amount of a debt. A consumer must typically be delinquent at least 90 days for a debt settlement company to be able to start negotiations with a consumer. The consumer will pay the debt settlement company a service fee of 15-20% and the debt relief company will reduce the debt amount to around 50% once it is charged off.

This can have long term negative effects on a consumer’s credit report. Some debt relief repayment plans last 36 to 48 months. Once the debt relief company gets enough money to pay a single negotiated debt it will do so. It usually pays the debt in a lump sum.

After the debt is paid the debt may report on the credit report as “Settled, Paid as agreed.”

Bankruptcy may be a viable option to debt relief as it not only eliminates the debt but it also eliminates the tax liability for the negotiated principal amount.

For more information and to see if t=your credit can be helped, contact CMA Financial Corporation. We are a Texas Credit Services Organization that specialized in credit repair. Email spalmieri@cmafinancialcorp,com

]]> By: Steven http://creditchopshop.com/credit-chop-shop-elder-posts/credit-cards-google-news/comment-page-1/#comment-37 Steven Wed, 28 Oct 2009 23:23:48 +0000 http://creditchopshop.com/?p=20#comment-37 A credit card is a useful tool that people can use to pay for goods or services after they actually take delivery or receive those goods or services. Credit cards must be used with a level of financial responsibility to ensure that the consumer does not end up with more debt than he can repay. If a person ends up with too much debt he will usually end up in debt settlement or bankruptcy. A credit card is a useful tool that people can use to pay for goods or services after they actually take delivery or receive those goods or services. Credit cards must be used with a level of financial responsibility to ensure that the consumer does not end up with more debt than he can repay. If a person ends up with too much debt he will usually end up in debt settlement or bankruptcy.

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