Archive for September, 2008:
Debt Settlement is similar to 700B Debt Bail Out
Debt Settlement is very similar to the Federal Debt Bailout bill on a smaller scale. The US government is removing the “toxic” debt that is on the books of the major banks. Debt Settlement removes your “toxic” personal debt so you can start new and improve your cash flow situation.
Subscribe to the comments for this postFTC To Host Workshop On Debt Settlement Industry
The Federal Trade Commission staff will hold a workshop on September 25, 2008, to explore the growth of the for-profit debt settlement industry and to analyze how this model is affecting consumers and businesses. The event is free and open to the public; pre-registration is not required.
WHEN: September 25, 2008, 8:30 a.m. to 5 p.m.
WHERE: FTC’s Satellite Building Conference Center, 601 New Jersey Avenue, N.W., Washington, DC. A valid photo identification is required. A live webcast will be available at www.ftc.gov.
AGENDA: Topics will include regulation and legal developments, advertising and marketing of debt relief services, role of third-party lead generators and other service providers, the history and development of the industry, and consumer education.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,500 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics.
MEDIA CONTACT:
Office of Public Affairs
202-326-2180
Debt Solution
What is the difference between good and bad debt?
You may heard credit specialists on cable and radio speak about “ good debt ” and how it compares to bad debt. You are taught to pay off your bad debts first due to the fact that they normally are tied to high APRs and aren’t backed by an item of value. It’s good to first understand the distinction between good and bad debt when you’re mulling over a debt reduction plan.
All About Good Debt
- What’s Good Debt? A good debt is any debt that will actually raise your assets. The rule to go by is: if obtaining the debt might help you build your assets, then it’s considered a good debt. Good debt will produce a profit for you through an escalation in value or business transactions. Arguably, a good debt may also be a debt that leads to an increased overall quality of life. Also, a debt that’s tax deductible, which means that having it decreases your tax due each year, can most certainly be thought of a good debt.
- Which Accounts are Good Debts The best example of a good debt would be a mortgage debt. Assuming that it’s associated with a home or portion of terrain that’s increasing in price, a house debt produces a cash flow through the equity that’s built up in the house. A further example of good debt would be a student note, since it’s made for an education and could produce higher income. A new business debt might also be considered a good debt if the business becomes profitable and leads to a regular residual salary.
Why Do We Call Certain Debt Bad Debt?
- What’s the Easiest Way to Decide If I’m Dealing With Bad Debt? Simply put, if the debt does not produce added value for you and your personal stock, then it’s bad. A car debt is a bad debt since automobiles decrease in value. The rule to follow is that once you take a new vehicle away from the dealership you leave behind 20 percent in value, and that loss of value carries on right up until the vehicle is paid in full. The most widespread demonstration of bad debt would be those credit card bills. Credit card debt is the most dangerous form of bad debt for three major reasons:
1) it’s not associated with items of value (unless you look at the jacket you got in 1997 an item of value!),
2) it normally is established with an expensive rate, and
3) it’s a rotating debt that can continue for the duration of your life.
How To Eliminate My Bad Debt?
You have many choices if you are searching for a debt solution. Certain individuals look to going bankrupt, which can get rid of your credit card bills but cause you to be denied by potential creditors, jobs, and other companies for up to a decade. A number of debtors set up their own debt reduction plans, and others have found out about the advantages of plans proposed by debt settlement companies. No matter what approach you choose, your bad debt should in every case be the main concern since it is more expensive and actually robs value from your net worth.