Jan 6, 2009

Debt Information

    • Debt Help USA No matter what your financial problems, there are methods, means, and if required, Certified Credit Counselors available to provide you with a fresh, stress-free beginning.
    • Debt Comparison According to the Federal Reserve, 43% of American families spend more than they earn.
    • Debt to Income Ratio Your debt to income ratio is another indicator of your current level of indebtedness and the potential you may have for future debt problems
    • Debt Management Debt management runs the gamut from creating a budget to filing for bankruptcy but in every case you must begin with an honest look at your debt problem.
    • Debt Management Budget A budget will provide you with a cold, hard look at your financial situation and is recognized as the first step in effective debt management.
    • Debt Warning Signs In addition to your debt to income ratio, there are several warning signs that it may be time to seek professional help.
    • Debt Consolidation When you consolidate debt, you usually combine several high-interest debts into one debt management plan payment at lowered interest rates
    • Credit After Debt Consolidation Pay your bills on time. The credit scoring system first considers your payment history
    • Recently, Bank of America purchased credit card firm MBNA and Citibank began gobbling up retail store cards. Only the future will tell how this will affect consumers
    • Consumer Debt Some consumer debt statistics published on the Internet are misleading.
    • Credit Card Debt Almost half of the citizens of the United States of America suffer with credit card debt.
    • The Federal Reserve System If you're wondering why you pay such high credit card interest rages, read up on Interest Rates and the Federal Reserve.
    • Loan Shark or Loan Officer In my humble opinion there is very little difference between the despicable loan shark and my friendly loan officer at the neighborhood bank.
    • Credit Counseling & Banktuptcy Individuals who wish to file a bankruptcy petition are now required to undergo credit counseling.
    • Credit Counseling Services Certified credit counselors assist you in getting your debt under control. They provide you with the information needed to manage your finances into the future, to build wealth, and to create and maintain personal financial independence.
    • Credit Counselor Requirements Last year, the House of Representatives and the Senate each passed a different bankruptcy reform bill containing wide-ranging changes in the bankruptcy laws applicable to individuals.
    • Debt Repayment Plans Nonprofit credit counseling services offer a variety of services that may include counseling, debt repayment plans, and education.
    • How Do Credit Counseling Services Operate? The organizations receive funds from creditors in the form of a negotiated percentage fee based on payments transmitted to the creditors through clients' debt repayment plans.
    • Standards for Approval The United States Trustee Program develops standards for approval of credit counseling services throughout the country.
    • Free Credit Report You are now able to obtain a free annual credit report from each of the nation wide consumer reporting companies.
    • Free Credit Rating Report Everyone has seen it on the Web. Get your “Free Credit Report! Instantly!” And with a click of a mouse you get sucked in and scammed by one of the many credit report “impostors” that have infested cyberspace.
    • Your Access to Free Credit Reports The Federal Trade Commission’s position on your Access to Free Credit Reports
    • Bankruptcy Some can’t get past the stigma, others see bankruptcy as a tool but the majority of people filing for bankruptcy are decent folk like you or me.
    • Bankruptcy Facts In the year 2003, one in every 73 American households filed for bankruptcy.
    • Famous Bankrupts “You're fired!” That’s right the Donald himself fell pray to the bankruptcy courts!
    • Bankruptcy Court The objective of a bankruptcy court is to give an honest debtor a "fresh start" by relieving them of the majority of their debt
    • Bankruptcy Documents These are the documents that you need to start your bankruptcy.
    • Bankruptcy Law The new bankruptcy law will affect all people filing for bankruptcy
    • Credit Counseling Requirement Individuals who wish to file a bankruptcy petition are now required to undergo credit counseling through an approved credit counseling service within 90 days before filing the bankruptcy petition.
    • Chapter 7 Bankruptcy The court liquidates all of your assets and dispenses them amongst your creditors in exchange for erasing your debt.
    • Chapter 11 Bankruptcy A Federal Bankruptcy Act where a business debtor can maintain control of its business and operations, under court supervision, as long as current debts remain paid.
    • Chapter 13 Bankruptcy In a Chapter 13 agreement, the court enforces a debt repayment plan that allows you to keep your property.
    • Filing for Bankruptcy: All the rules have changed as of the April 20, 2005
    • Involuntary Bankruptcy There are occasions where your creditors may petition for an involuntary bankruptcy against you.
    • United States Trustee Program The United States Trustee Program is the component of the Department of Justice that protects the integrity of the nation's bankruptcy system.
    • The Federal Reserve System There is much confusion regarding the Federal Reserve System. The Federal Reserve System operates like a private corporation.
    • Fed Boosts Rates Again August 9, 2005: The Federal Reserve raised the target for a key short-term interest rate by a quarter of a percentage point for the 10th consecutive time Tuesday. The move was widely expected on Wall Street, as several recent economic reports have indicated that the economy remains relatively strong.
    • Fed hikes rates, says Katrina impact appears temporary Federal Reserve policymakers lifted their base rate by a quarter-point to 3.75 percent, saying that Hurricane Katrina is likely to have only a temporary impact on the US economy. It was the 11th consecutive rate hike by the central bank's Federal Open Market Committee, which devoted much of its statement to Katrina's impact.
    • Loan Shark or Loan Officer A loan shark is a person (usually mob connected) that loans money at interest rates exceeding the interest rate allowed in a given state. These amoral, unethical gentlemen make their own rules and levy late penalties as they wish without concern for the debtors' health or well-being. These ‘businessmen’ are guilty of the crime of usury; a moral and ethical crime that targets the new middleclass, the working poor.
    • U.S. Interest Rates by State The maximum legal interest rates, by state. Where, exactly, are the headquarters of the major credit-card companies? Hmmmm …

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About Us

DebtHelp-USA

DebtHelp-USA.info and its sibling website Bankruptcy-USA.info publish debt information intended to help you make an informed decision pertaining to your specific debt problem.

No matter what your financial situation, there are methods, means, and if required, professional services available to facilitate a fresh, stress-free beginning.

The staff behind the websites are just regular people, some with degrees, most without, some deeply in debt, some financially secure, but most engaged in the ongoing struggle to balance our stagnant incomes to our growing debts.

Many of us took advantage of the glossy offerings delivered to our doors and email accounts. Debt consolidation, low interest credit cards, interest only mortgages, home equity loans, the good life was just a signature away.

For many, the American dream became a personal nightmare. There are an infinite number of reasons from poor judgement to unforeseen circumstances but the result is always the same. The unrelenting, day to day stress created by debt problems adversely affects a person’s health and well-being.

There is compelling evidence by medical professionals that the majority of their patients seek medical and psychological care because of the stress caused by financial problems.

Doctors are saying that extreme forms of debt stress promote the secretion of a steroid called ‘cortisol’. If left to run its course, cortisol eats away at the immune system, leaving us vulnerable to viral and bacterial infections or any other nasty that heads our way.

We have witnessed the effect it has had on family and friends; we had to do something about it.

Debt stress is usually brought on by not facing the reality of our debt problems and instead reaching for quick fixes, consolidation loans, refinancing our mortgages, and borrowing more, all the while stress levels grow.

Think of debt stress like holding a glass of water out at arm’s length. Ask yourself how heavy is this glass of water?

The answer is, it depends on how long you hold it out there. If you hold it for a minute, that's not a problem. If you hold it for an hour, you'll have an ache in your arm. If you hold it for a day, you'd have to call a doctor.

In each case, it's the same weight, but the longer you hold it out there, the heavier it becomes.

And that's the way it is with debt stress and its management. If you carry your debt burdens all the time, sooner or later, as the debt burden becomes increasingly heavy, you won't be able to carry on.

Some of us have been in this dire situation and found a way out from under the gloom of repressive debt. We have found that the first step in a person’s debt recovery is to get educated, find out exactly where you’re at and separate the good advice from the many debt myths you’ve heard. You become empowered. Once educated, you are able to put a plan in place that has a beginning, a middle, and most importantly, an end.

The purpose of this website is to give you an opportunity to put your debt burden down, to give you an opportunity to rest, to develop a debt management plan that when implemented will eliminate the excessive stress associated with uncontrolled debt.

We believe that our society is made stronger through education, through freedom of speech, through a free sharing of ideas and knowledge. To this end we have constructed Debt Help USA to not only provide current debt help articles, but more importantly to provide an opportunity for you to ask your questions, to post your opinions, to let your voice be heard.

If you can’t find your answer on this site, we’ll research the matter and find the answer for you. As with the glass of water, you may have to put your debt stress down for awhile and rest before holding it out again. When you're refreshed, when you’re educated, you can carry on with the burden.

Oh, and before we forget, for those ‘sue-happy’ types out there, please understand that DebtHelp-USA.info and its sibling website Bankruptcy-USA.info, are publishing free debt information only, which is provided 'as is'. Whilst believed to be correct, it is in no way comprehensive. It is provided for your interest only and is not intended to be relied on as formal legal advice. The posting of information on these pages is not intended to create a lawyer-client relationship, and you should not act or rely on this information without seeking professional advice. No liability is accepted therefore for any errors, or for any losses that may be incurred if it is relied on. Sheeesh! Sorry, we had to say that.

For most of us personal indebtedness is a very private thing. In our society people are reluctant to face debt problems let alone broadcast them to their peers. At Debt Help we discuss real issues, real debt traumas, real personal events, and because of the personal nature of the discussions it has become common for people to use an alias, (we prefer to use the term ‘nom-de-plume’), to express their views. For the purposes of anonymity we would recommend that you use a ‘nom-de-plume’ as signature to comments and questions of a personal nature.

We view personal privacy as the foundation to open dialogue on the Internet. You can feel safe leaving your email address to sign up for our Debt Help Newsletter or to access professional help on one of the secure forms you may find on the site. Your email address will not be shared with any other company, you will not be inundated with annoying, unsolicited junk mail, your question will be answered, your comment will be posted, your voice will be heard.

We wish to go back to the beginning of the Internet; to a time when the objective was to readily access pertinent information and to openly share one’s thoughts, ideas and knowledge. We have designed www.debthelp-usa.info to function that way, to provide you with accessible debt help and to welcome everyone’s position, everyone’s point of view, everyone’s experience. Your participation will ensure our collective success. Only time will tell.

Should you have a question, comment or idea for an upcoming article, let us know:

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