To Pay or Not to Pay – That is the Question

Much like the Loss Mitigation and Short Sale Business the Debt Settlement Industry is another service that will be in great demand to the average consumer.

With the cut in over-time, reduced hours and job loss across the country the average consumer…and more than you think… is struggling to keep afloat. Some adults are taking jobs at retail stores, restaurants and gas stations generally reserved as summer jobs for our children.

The real estate market is in one way or another tied to all of our economic problems and with the increase in unemployment we can expect to see more foreclosures before it is over. 

Consumer credit card debt is strangling the average American and it doesn’t matter how much money make; credit card companies are increasing interest rates, increasing late fees penalties and in some cases increasing the overdraft fees charged to you when you are late with your minimum payment. Let us not even mention these companies are making it harder to get approved for new lines of credit or a new credit card.

Be careful of who you hire to negotiate your debt. The debt settlement industry is in crisis and almost everyone including consumers, credit card companies and consumer advocates are suspicious of settlement companies. There are about 2,000 settlement companies that offer advice to troubled borrowers on paying off a percentage of their credit card debt and avoiding bankruptcy. The common complaint is that many debt settlement companies are more interested in their fees than helping their clients.

For more information down load our 5 part series on

“Your Credit Score and What it Means To You as a Prospective Buyer”