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Debt Settlement

#AskanExpert: Can I Back Out of a Debt Settlement Program?

Q. In March of 2018, I decided to go through a debt settlement program. Big regret! The program they put me on is for 5 years. They have settled with one company thus far and they take their settlement fee off the top which is more than the monthly amount they are paying the creditor. Their method is baffling. I feel I made a bad decision and was wondering if …Read More

Ask an Expert: What is a Judgment?

Q. What is a judgment?   Dear Reader, Dealing with a judgment can be a terrifying ordeal. As it relates to credit, it means that a creditor or debt collector has taken you to court to collect your unpaid debt and they have won the lawsuit.   Like any legal matter, a judgment is a process. It’s the debt collector’s last recourse to legally collect the debt after all other …Read More

Debt Consolidation vs. Debt Settlement vs. Debt Management Program

What is Debt Consolidation? Debt consolidation typically involves getting a lower interest loan to pay off multiple high interest secured or unsecured debts, such as credit cards or payday loans. The consolidation loan is generally secured against the borrower’s assets such as a home or a car.  Because credit card debts have such high interest rates, even an unsecured consolidation loan can significantly reduce the borrower’s monthly payment. For some this …Read More