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Saturday, March 20, 2010
Debt-elimination companies claim that they can eliminate your debt and that you do not have to make any more payments with no repercussions. Sounds good, huh? Too good! The bottom line alleged by these companies is that the debt that you have incurred using credit cards is not legal debt.
Debt-elimination companies, sometimes for a steep fee ($2,995 for one company), will send you materials explaining what they assert is your legal right not to pay your debt. Many of them promise to support your debt-elimination process with "experts" that understand the laws that pertain to credit card companies issuing you credit. You think it can't hurt to check it out. Wrong. The companies behind these debt elimination scams cite a legal basis for how consumers can legally eliminate or cancel their debt. They cite Title 15 United States Code, Section 1692; the Fair Debt Collections Practices Act, Section 1601; the Fair Credit Billing Act; and the Uniform Commercial Code, Section 203. But the ads never say exactly what it is about those laws that render credit card debt illegal, and there is nothing in any of those laws that render credit card debt illegal. Their ads might say that banks are not really lending you their own money or didn't disclose certain details to you when you applied for the credit card, therefore the credit card company's contract with you isn't legal; Neither claim is true. If you are in debt, there's no magic formula.
If you absolutely think you have to go to a debt consolidation company or a debt reduction company, go to Consumer Credit Counseling Services, and nobody else. Chances are you don't even need CCCS, instead just work very hard and work to eliminate your debt quickly and systematically. Take extra jobs, cut down on your living expenses; that's the only way to do it.
Debt-elimination companies, sometimes for a steep fee ($2,995 for one company), will send you materials explaining what they assert is your legal right not to pay your debt. Many of them promise to support your debt-elimination process with "experts" that understand the laws that pertain to credit card companies issuing you credit. You think it can't hurt to check it out. Wrong. The companies behind these debt elimination scams cite a legal basis for how consumers can legally eliminate or cancel their debt. They cite Title 15 United States Code, Section 1692; the Fair Debt Collections Practices Act, Section 1601; the Fair Credit Billing Act; and the Uniform Commercial Code, Section 203. But the ads never say exactly what it is about those laws that render credit card debt illegal, and there is nothing in any of those laws that render credit card debt illegal. Their ads might say that banks are not really lending you their own money or didn't disclose certain details to you when you applied for the credit card, therefore the credit card company's contract with you isn't legal; Neither claim is true. If you are in debt, there's no magic formula.
If you absolutely think you have to go to a debt consolidation company or a debt reduction company, go to Consumer Credit Counseling Services, and nobody else. Chances are you don't even need CCCS, instead just work very hard and work to eliminate your debt quickly and systematically. Take extra jobs, cut down on your living expenses; that's the only way to do it.
Are you Prepared to Compromise for Debt Arbitration?
Debt Negotiation and Settlement Advice
How to Best Work the Debt Negotiation Services?
All About Debt Negotiation
Trying for a Reasonable Settlement in Debt Elimination Arbitration
Debt Negotiation and Settlement Advice
How to Best Work the Debt Negotiation Services?
All About Debt Negotiation
Trying for a Reasonable Settlement in Debt Elimination Arbitration
All About Professional Debt Negotiation Services and When to Retain it?
Differentiate between Debt Arbitration, Negotiation, and Bankruptcy
Where to Find Debt Negotiation and Settlement Services?
Best Solution with Your Debt Negotiation
Differentiate between Debt Arbitration, Negotiation, and Bankruptcy
Where to Find Debt Negotiation and Settlement Services?
Best Solution with Your Debt Negotiation
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Current Mortgage Rates*
Loan Type National Average |
|
| 30-yr. fixed | 5.25% |
| 30-yr. fixed jumbo | 5.50% |
| 15-yr. fixed | 4.38% |
| 15-yr. fixed jumbo | 4.88% |
| 7/1 ARM | 4.12% |
| 5/1 ARM | 4.12% |
| 3/1 ARM | 4.25% |
| 1-yr. ARM | 2.88% |
| 1-yr. LIBOR ARM | 4.50% |
| 10/1 ARM | 4.75% |
*Mortgage Rates Updated: 03/19/2010