All posts by Bjork107

How a Consumer Advocate Can Help You Handle Debt Collectors

A consumer advocate specializing in debt collection practices can be a useful option to help you get through the credit collection process. Consumer advocates (or Unions) are set up to act as a layer of protection between you & a debt collector, like Diversified Consultant, once your debts fall behind. Most Consumers Unions were formed by experienced professionals from the Debt Reduction, Credit Counseling, Student Loans, Mortgage, Credit Cards, and Collection Industry.

These groups were created in response to abusive creditor collection techniques, used against clients involved in Debt Relief Programs. Realizing first hand that most customers have little knowledge of their rights and are ill equipped to handle collection harassment, the consumers union was designed to help debtors stand up to abusive creditors. Most consumer advocate’s help their clients through a combination of client education and protection.

The first goal of the Consumers Union is to educate clients on their rights, when a debt collector is pursuing them. These rights are granted by state law and the Fair Debt Collection Practices Act (FDCPA). This act specifies what kind of behavior is acceptable when collecting a debt, including the time of day a debtor can be called, what defines a debt collector, ways a collector can try to make contact, use of vulgar language or threats of violence and excessive/repeated phone calls.

Collectors commonly violate these laws, either because they are poorly trained or are counting on the fact that the consumer does not understand or is unaware of their rights. Being in debt and getting creditor calls can be an extremely stressful and intimidating situation. Even some people who do know their rights, are, too frightened by the collectors to take action. This is where the Consumers Union can step in between you and the creditor, to offer the protection you need in this vulnerable situation.

A Consumer Advocate is not only designed to educate, but also to protect their members. If you are dealing with a collector, like eos debt collectors, and they are ignoring the laws which regulates their industry, the Consumers Union should be able to contact the abusive creditor, on your behalf. Most unions will provide helpful documentation regarding your rights, a call script for handling collector calls and call logs for tracking purposes. In many cases a cease letter will be sent instructing the debt collector to stop all communications with the client. If this is ineffective, they can help you file a complaint or even refer you to an attorney, if need be.

Many people do not know their basic consumer credit rights. When a debt collector calls on the phone or sends a threatening letter, it is easy to become intimidated. The young and the elderly are especially susceptible to being unfairly coerced by communication from bill collectors. The Fair Debt Collection Practices Act (FDCPA) serves to protect debtors of all ages (and income levels) against unlawful and illegal bill collection activities.

A common threat unscrupulous debt collectors like to use, is that you can go to jail for not paying your bills. While it is true that you can go to jail if you take out a credit card with a fake Social Security Number or do not pay your child support, this is not the case in almost all consumer debts. Under consumer credit rights, you cannot be arrested for failing to pay a simple debt. Also, even if you did commit a crime, a bill collector, like Transworld Systems, cannot just toss you into jail and give you a prison sentence. There are courts and procedures, and the debt collector has nothing to do with the justice system.

Consumer credit rights also dictate that bill collectors may only call between 8 a.m. and nine p.m. in the debtor’s time zone. Also, they cannot call you repeatedly or talk to others about the bills they claim that you owe. Whenever a debt collector calls or writes you a letter, he or she must identify why they are calling and that any information they receive can be used for the purpose of trying to collect a debt.

In the debt relief industry, the services of a Consumers Union will usually be offered with or as part of a debt help program such as debt settlement, debt reduction, credit counseling, debt management or foreclosure relief. Most of these organizations have in-house customer service departments that can help clients deal with debt collectors, and the Consumers Union will be utilized in extreme cases of abuse and harassment. For many people, the Consumers Union can help relieve a lot of the pressure associated with the inevitable creditor or debt collection calls, when the fall behind payments on a debt.

How To Stay Debt Free Money

Financial problems, involving large amounts of debt, are common for many people in today’s society. Maxing out credit cards, department store cards and lines of credit – living outside your means – is a recipe for disaster, and can lead to financial ruin.

Many people end up filing for bankruptcy when money problems start to take over, or when dealing with too many debt collectors; but even those who can manage the payments, end up paying a fortune in interest fees. If you’re in trouble with debts or debt collectors, like Allied Collectors, and need a solution, you do have options, and you don’t necessarily have to end up in a bankruptcy – financial experts can show you ways to fix the problem.

Of course, the wisest thing you can do is to stay out of debt in the first place. Utilizing tips to stay out of debt will help you avoid serious money problems and enjoy life. Obviously, spending less money and living within your means is the easiest way to stay out of trouble. Debt settlement can be an annoying process, so if you avoid debt by spending less than you do now, it’ll make everything much less complicated.

It’s wise to make a monthly budget and stick to it as closely as you can. Money problems often start when credit is used for non-essential items, so if you want to go to the movies or get pizza – and you’re out of cash – learn to do without, until you can actually afford it.

Money problems and large amounts of debt are common for many people, nowadays. Maxing out credit cards, department store cards and lines of credit, can put you in a situation where you end up dealing with collection agencies.

Getting out of debt might seem impossible, but it’s not. With patience and perseverance, it can be done. In fact, it should be done. Living debt-free will probably add years to your life, because so much of the stress and anxiety you are currently feeling, will be gone, and debt collectors, like cach debt collectors, will be a distant memory!

Here are 5 Ways One Can Stay Debt Free

  1. List All Monthly Income
  2. List All Fixed Expenses
  3. List Discretionary Income
  4. Pay off Credit Cards
  5. Monitor Your Buying Habits

The first thing to do, is make a list of all your monthly income. You need to include everything, so that you have an honest idea of what you have to work with.

Next, make a list of all your fixed expenses. This includes mortgage or rent, car payment and insurance and utilities.

After that, list your discretionary income. That means everything else, from food to gas money. The whole point is to make sure you are earning enough money to cover your expenses. If you are not, it is time to take some drastic measures. Cut out everything you can. It will be painful at first, but worth it, in the end.

Think about how good your life will be once you are free from debt collectors, like stellar recovery. You won’t lay awake at night worrying about creditors or about how you’re going to pay for your son’s braces or your daughter’s art lessons. Getting out of debt will change your entire life, and it will all be for the good – credit experts can show you the steps to better spending habits.

Monitor your buying habits. Stop buying things you don’t need, like that morning coffee, the gossip magazine, or the latest computer game. Eat at home. Whenever you feel yourself about to slip, remind yourself of the happiness you are going to feel, when you are debt free! Your wish will come true, and you will be so thankful that you stuck with it.

Once you have your spending under control, use the extra money to pay down any credit card debt. Pay off the cards with the highest interest rates, first. When you are done paying them off, keep two cards, at the most. The rest you can get rid of, because (the truth is) no one really needs more than two credit cards. You might tell yourself you do, but be honest – you don’t.

Now take that money you were spending on your credit cards and pay yourself – that’s right, pretend it is a paycheck you are giving yourself. In a way, it is. Put that money in the bank and don’t touch it.

If you’re in trouble with debts and need a solution, you do have options, and you don’t necessarily have to end up in a bankruptcy. Utilizing tips to stay out of debt will help you avoid serious money problems and enjoy your life.

To live debt-free, you must always live beneath your means. It gets easier as time goes on. It will take some time and effort, but if you stick with it you will eventually begin living your life debt-free. The tension and worry will be gone, and you will feel like a new person. Your credit will improve, drastically. Then you can pass your hard-won knowledge on to the next person. Living a debt-free life is the way to go!

The Basics Of Penny Stock Trading

The basics of the penny stock investing

Do you want to invest your money in stocks or companies? However, if you do not have the means to afford the big prices of shares, you may have to pursue penny stocks. Some people really like penny stock, because they they have low pricing; but the pricing can fluctuate, so it is important for you to choose shares carefully.

The penny stocks are also called a cent stocks, in some countries. These are the shares of small public companies that sell or trade (each share) at low prices. It is priced below $5 per share, and is being traded in United States. In the case there of several penny stocks, they have low market price that can lead to market capitalization. Those stocks can be manipulated by stock promoters, for the investors who want to make quick and large profits; investing in stocks like these, is a huge risk.

Overly promoted stocks can cause investors to overextend themselves, financially, spend up their savings and get deep into debt with national credit debt collectors or other debt collectors – so see to it that you invest wisely.

Concerns for investors

Many penny stocks, specifically those that sell for fractions of a cent, are not traded as advertised. They are the tools of manipulators and stock promoters. These people purchase large quantities of stock and they inflate the share price by misleading and making false positive statements – this is the so called the ‘pump and dump’ scheme.

These people buy millions of shares then make use of e-mail blasts, chat rooms, fake press releases, newsletter websites or stock message boards – to create a buzz of interest in the stock. More often, the promoters will claim to have inside data on impending news, to exhort the investor to buy shares quickly. The use of the internet (as well as, other devices) allows the production of penny stock scams to be carried out much easier than ever before!

It is scams such as these that can cause a lot of novice investors to go broke, chasing a financial dream that never materializes; instead, they end up acquiring more debt from organizations like prestige loans – and end up servicing stacks of bills!

In order to avoid this, it is imperative that a penny stock reach certain standards, before you invest in it. The criteria include: market capitalization, minimum shareholder equity and price.

In investing in a penny stock, here are the following steps:

1) You should be familiar with the many factors that add to the risk in penny stocks. If some of the people out there are planning to invest in penny stocks, there is a need for you to analyze, first, the risks before you invest thousands – or even millions of dollars. Here are the following factors that make penny stocks risky:

  • Lack of history or information
  • No minimum standards mean they did not pass or meet the minimum qualifications
  • Less liquidity. Looking for buyers of penny stocks can be hard. If you cannot find one, there will be a tendency to lower the price until it is no longer profitable to sell. This is not a lucrative proposition.

2) Create a brokerage account – In order for an investor to invest in stock, he needs to have a means to make transactions. This offers good access to stocks, with low annual fees and low commissions. You should take into consideration that your brokerage account will give you the data that you really need, to better assist you in making the best decisions. The best brokerage accounts includes historic prices, charts and other features that will help each individual trader to build a profitable portfolio.

Please note: Due to the volatility of markets (and the potential to make profits), beginning investors seem to allow their emotions to dictate their investing habits. And while there are times when this approach is suitable, overall, this approach will not serve you well. Investors who are most successful in penny stock investing are the ones who know when to enter a market…and when to leave it – these are known as entry & exit points.

Once a stock has gotten enough public attention (also known as, a buzz), it will attract many buyers and cause the price of the stock to go up. Ideally, purchasing a stock right before it sky rockets, is what the beginning investor wants to achieve, this is called the ‘entry point; but he or she must also fully recognize that this may very well be a spike in interest, thus, the price will (inevitably) drop in value. It is at this point that beginning investors should be wary of artificially inflated stock prices that could lead to the kind of financial over-extension that leaves one in financial conflict with creditors or debt collectors – getting help at should help, should this problem arise

Ideally, when a stock price has peaked, the beginning investor may want to exit the market, right before a sudden drop in the stock’s price – this is called the ‘exit point’.

Understanding these basic actions, along with calculating the data to support these actions, can save you from falling victim to the volatility of the stock market – as a novices’ investing habits can mirror the trends of a turbulent market (which is not the best approach, most of the time). To use a baseball analogy, one shouldn’t expect to hit a home run, in every single stock trade – true, some people have been known to luck-up and pick the “right stock at the right time” and hit a home run; but consistently hitting single base hits, is how money is really made, on a consistent basis; so, be mindful of this fact as you do your due diligence, before trading.

Credit Records: How to File a Credit Bureau Dispute?

If you want to maintain a good reputation, there are things you must do to keep your respect intact. You must bear in mind that you are the one who is presenting your image to other people. Once you learned that there’s something wrong associated to you, you must do what you can to reverse it, and make things right again – especially, when it is about your inaccurate credit records that will negatively affect you and your name.

A credit report gives a detailed account of one’s credit history, and is provided by the credit bureau. It is also used by some lenders, to determine the creditworthiness of a particular loan applicant. The credit report includes personal data, summary of credit history, detailed account information and details of any accounts turned over to collection agencies; thus ensuring, that the person whom lending institutions entrust their money to, has the ability to pay and follow their rules and regulations.

If you found out that there is an incorrect or inaccurate item about your credit record, you must do something about it. You have the right to question the accuracy of the the credit bureau, as it is their responsibility for keeping and providing accurate information about you.

How are you going to file a dispute against them?

With Transunion Disputes, you have two options for your credit reports. You can go to the credit bureau or you can go directly with the business or creditor who have listed the information on your credit report; but before you do that, you need to have a working knowledge on how this should be done.

First, you must get a copy of your credit reports. Through the credit bureaus, you can access and secure a copy of your credit records. Check each credit reports carefully, to find out if there are errors or incorrect information. Make sure that you know which of the credit bureaus has provided you with the incorrect information.

When you found out that there’s an error, and have already identified the credit bureau that provided you with this information, you must inform the bureau about the errors or wrong information that is in your credit records. You can do it through sending a written letter that informs or tell them about the errors you have found out on your record. Moreover, your letter must clearly state or identify every item that you are disputing; explaining why you are disputing the information, and stating a request for it to be removed or corrected.

For an Experian Online Dispute, you should gather and provide documents that will help you in supporting your dispute. These documents will serve as your evidence (or proof) that a particular item or detail in your credit report, is not true; this is to strengthen your claim that there is really something wrong with your records. These documents must be sent (together with the letter of dispute) via email.

After you have emailed the letter of dispute, the credit bureau  will investigate the items in question, within 30 days. The credit bureau must send all of the relevant data of the disputed item, to the creditors & collection agencies – to seek confirmation of the accuracy of their data.

Once the creditors & collection agencies receives the notice of dispute from the credit bureau, they will start investigating. By the time the investigation has been completed, they will give the results back to the credit bureau; if the information they have provided is inaccurate, they must inform all of the credit bureaus in order for them to correct the information in your credit report.

After the investigation process, the credit reporting company will give you the results, in written letter. The credit reporting company will give you a written notice coming from the collection agency – along with their name, address and phone number. It will include the verdict as to whether the information was verified as accurate, as well as, if the item has been removed or modified, in some way.

If you also want a way of filing Equifax Disputes that will give you results faster and easier, you can have it all for you by a legal representative, online. By using this option, you will be notified via email and you will be given an access to the results of the investigation right away. Just make sure that you are using a representative from trusted website or company online – so as to avoid identity theft, or inaccurate results that may or may not change the errors in your credit record.

Credit bureaus and creditors both responsible in correcting incomplete or inaccurate details and information, about your credit records. They must accept any credit disputes against them, and investigate it as soon as possible. You don’t want your name to be put into jeopardy, because of some incorrect credit information about you.  If you know that something may destroy or may affect your reputation, don’t hesitate to take some actions that will make everything right.

Debt Settlement And How it Works

Any amount of money borrowed from another party is a debt. Loans, bonds and commercial paper – are examples of debts.

It is possible to run into extended financial hardships during the time when you are supposed to repay the debt. This is when the option of debt settlement comes up. Debt settlement is an approach for debt reduction, whereby debtors (or creditors) agree on a reduced balance. This balance is regarded as full payment. The process is also called debt negotiation, arbitration or credit settlement. In other instances, you can go straight to the creditor, and ask to have your debt forgiven, altogether, by using what is called a Goodwill Letter – go to or visit this site to find out more!

Erasing Debt

For debt settlement, the debtor will offer a large, one time payment for existing balance, and, in return, get forgiveness for the remainder of debt. For example, if you owe $100,000 you may approach the creditor and offer to pay $7,000. The creditor will, in turn, agree to accept $7,000 as a one-time payment, to settle the debt. In most countries, a debtor is allowed to appoint an arbiter (or a legal body) to negotiate with creditors. Debtors may also engage in debt settlement negotiation, themselves.

Considerations Before Debt Settlement

If you conclude that debt settlement is the best move for you, the next step is to make a decision on whether you will meet the lenders, yourself – or you will hire a professional to do it on your behalf. When making this decision, you should consider that credit card companies will deal with you; in this instance, a debt professional will not have ability to negotiate better deal than actual account holder.

In addition, debt settlement, like any other industry, has a fair share of con artists, scams and rip-offs. It is because of such risk that many debtors choose to first try debt settlement on their own. If you choose to do it yourself or use a professional, the main ingredient in negotiating successful debt settlement, is making it to appear as if you are in a real bad financial position. If you find yourself being harassed by scam artist, you can get them to stop by issuing a Cease & Desist order – a debt management expert can go into more detail.

If the lenders believe you are in a very tight space (financially), it is highly likely that they will consider your offer, as they put themselves at risk of not getting any of their money, at all. In order to increase chances of successful debt settlement, you should cut your spending for a period of three to six months, before you request settlement – especially on credit card.

It would be fruitless if the debt settlement department look at your credit card statement in last few months, and establishes that you have been going on shopping sprees or holidays at exclusive destinations or five-star hotels! It will be hard for anyone to believe that you are truly in need or deserving of any sympathy.

A the same time, if you have (for last couple of months) been making minimum payment on time, you will appear as if you are on the brink of escaping from debt obligations. When you have this in mind, you should direct your debt settlement offers to the companies where you have fallen behind on payments. If your debts are very old (aka zombie debt), they may have actually expired, thus, you no longer have to pay them off, nor can a collection agency, like cbe debt collectors, take you to court over them!

Debt Settlement

When you begin the actual debt settlement process, you should start off by calling the official customer service department number of you credit card provider – and ask to talk to somebody working in the Settlements department. Once you get an expert from the department, you should explain how grim your financial situation is.

Remember to highlight that you have gathered a little bit of money together and you hope to settle one of your debts before the money is used up elsewhere. By mentioning that you have other debt settlements to pursue, it will increase your chances of getting competitive offers from a lender, in an attempt to compete for the cash.

You can get a better a deal if you offer a lower amount. Start by offering the lender an amount that is approximately 30% of the outstanding balance. This is because the creditor will most likely counter that offer with a higher one. If the lender places an offer that is above 50% of the debt, consider saving that money to help you in paying future bills.

When efforts for debt settlement are successful, make sure the agreement is in writing. In the past, there were incidents of lenders that verbally agreed to debt settlement, then turn the balance over to lvnv debt collectors or some other collection agency. Go online to learn how a written agreement must spell out the amount you agreed to pay, and how the creditor (or lender) will excuse you from further payment.