Debt Relief – DMCC University

Debt Settlement; Too Good to be True?

January 8, 2024December 21, 2023 by Phil Heinemann

“You have the right to settle your debts with your creditors”

“The secret your creditors don’t want you to know”

“Pay only pennies on the dollar”

We have all seen the TV commercials or heard the radio ads telling us, that we do not need to repay our credit card debts in full. Better yet, we actually have the right not to pay our creditors. Truth is we do have the right not to pay our credit card accounts. We also have the right not to pay our mortgage loan, our car loan or our electric bill. However, it is also true that our credit card companies, our mortgage lender, our car finance company, and our electric company all have legal rights to collect the money we owe them, including suing us in court, foreclosing on our home, repossessing our car, and cutting off our electric service.

So if the old adage “If it sounds too good to be true, it probably is” comes to mind, consider the following about these Debt Settlement claims.

What Advantages Does a Biweekly Mortgage Offer?

December 8, 2023 by Jason Athas

One of the most precious assets that you are likely to possess as you progress through life is your home. Owning their own homes is something that most Americans strive for.

Debt Management vs. Debt Settlement

October 26, 2023 by Jason Athas

Out-of-control debt has a way of taking over your life. High interest rates can cause your balances to climb higher each month, and the higher balances hurt your credit score, making it more difficult to obtain financing for important household expenses or personal needs. As the debt grows, so does your stress.

How to deal with financial hardship

October 26, 2023October 18, 2023 by Jason Athas

The past few years have been tough for many people, financially and otherwise. If you’re struggling to make ends meet, there are a few things you can do to get back on track.

Create a budget. This may seem obvious, but it’s important to have a clear understanding of where your money is going. Once you know where your money is going, you can start to make changes to save more and reduce your debt.

Things To Know About Debt Consolidation

October 26, 2023September 15, 2023 by Phil Heinemann

Debt consolidation is a way to collect all your individual debts and lump them into a single loan. It works well to combine overdraft, credit card, and automobile loans. By consolidating your debt you only make one payment to one creditor.Usually, you can negotiate better terms, a lower interest rate, and quicker payoff times. But is debt consolidation always the best idea for you?

Should you pay extra on your mortgage?

October 26, 2023August 31, 2023 by Jason Athas

You’ve probably dreamed of the day when you finally send in your last mortgage check and own your home free and clear.

Paying a little extra every month on your home loan is a way to make that dream a reality faster than you thought, and with today’s historically low savings rates, it could make more sense than ever.

Report Says Debt Settlement Companies May Leave Clients Worse Off

October 26, 2023July 27, 2023 by Phil Heinemann

Using a settlement company to help you dig out from underneath burdensome debt may sound appealing, but it may leave you worse off than when you started, according to new research.

Get Out of Debt

October 1, 2014 by Jessica Francese

Getting out of debt is a great concern for Americans today. Those who suffer from extreme debt often feel like there is no way out of their situation, but the reality is that with careful planning even those in the direst circumstances can look forward to a debt-free tomorrow. There are many different options for people who find themselves with more debt than they can handle.

Debt Relief Options When Budgeting is Not Enough

March 31, 2015October 1, 2014 by Jessica Francese

If you are struggling to pay your credit cards or other unsecured debts each month and you simply to do not have sufficient income to balance your budget, there are three primary options that may provide you the relief you need.

Finding A Credit Counselor

October 1, 2014 by Jessica Francese

Reputable credit counseling organizations advise people on managing money, bills and debts, help them develop a budget, and usually offer information and workshops.