LA JOLLA, Calif., Dec. 16, 2015 /PRNewswire/ -- Attorney Dan Gamez is proud to announce that his debt relief law firm has released the free eBook - The Ultimate Guide to Credit Card Settlement. If you are in credit card debt, you are not alone. Millions of people struggle with credit card debt.
I talk to people every day about credit card debt in my debt relief law practice, says Dan Gamez. Friends, colleagues, and potential clients all have the same typical questions about what I do and how I do it. So I thought it would be a great idea to put together this guide as a reference piece. Whether you are looking for help to do it yourself or just interested in learning more about how the debt settlement process works, this guide is for you.
Credit card debt settlement is a viable option that involves negotiating with your creditors to reduce the total amount that you will pay back. Oftentimes, you may be able to settle with the banks for 40 cents on every dollar you owe. Debt settlement contains no secret sauce formula. If you owe a small amount to one or two creditors, you could talk to them and settle your debts yourself. However, if you owe significantly more money, you should consider consulting an experienced debt settlement attorney.
Its often difficult to determine what defines a good settlement. Should you disclose your financials? Is the offer you receive the best youre going to get? What makes this a valid offer? Does it need to be in writing? Is the written offer valid and binding on all parties? In Mr. Gamezs new eBook, The Ultimate Guide to Credit Card Settlement, consumers will learn:
- Options for credit card relief
- What you need to know about credit card debt consolidation and debt settlement
- How to get through lawsuits with the banks
- Why hiring an attorney focusing exclusively on debt relief is a good idea
- The process of credit card debt settlement
There are many reasons you might find yourself unable to make regular monthly payments on your credit cards. Many consumers get in over their heads with credit card debt due to circumstances beyond their control such as medical expenses, the loss of a job, unexpected personal expenses and more.
No matter what reason or how justifiable your circumstances, creditors are usually unwilling to be flexible with payments. Interest accrues, youre subject to late fees and your balance skyrockets over time. You will receive harassing phone calls from creditors as well, demanding payment and threatening to take legal action. Plus, your credit rating will plummet, making it more difficult or impossible to get a home mortgage or car loan. The situation may even have an impact on your health, as these stressful times can lead to depression or other medical conditions. However, there are options for consumers and businesses to reduce or eliminate credit card debt through settlement.
My hope is that The Ultimate Guide to Credit Card Settlement eBook give consumers clear, unbiased answers to credit card debt questions. If you read the eBook and still have questions or know someone who could use my help, I would encourage you/them to contact me for a freeconsultation.
The Gamez Law Firm is a debt relief law firm operating in California that negotiates aggressively with creditors to reduce their clients unsecured debts including credit,2nd mortgages, Home Equity Lines of Credit (HELOCs),small business debt relief,medical debtsand student loan debt.
Daniel R. Gamez, an attorney focusing exclusively in debt settlement, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in La Jolla, CA. For more information, please contact Daniel Gamez at 858-217-5051, Email or visit gamezlawfirm.com.
SOURCE Gamez Law Firm, PCRelated Links
KUALA LUMPUR: The government has yet to decide on allowing contributors to withdraw their Employees Provident Fund (EPF) savings to settle credit card debts, the Dewan Negara was told today.
Deputy Minister of Finance, Chua Tee Yong said the principle of EPF as a social security organisation was to provide retirement savings for members.
A contribution in EPF Account 2, which is in the pre-retirement category, can be withdrawn only for specific purposes such as health, housing and education."
If there is demand to withdraw EPF savings for another purpose, we are worried it will affect a sufficient amount (of the fund) for their retirement, he said.
Chua was replying to Senator Goonasakaren Raman who wanted to know whether the government allowed EPF savings withdrawal to settle credit card debts.
EPF has fixed 70% contribution of the fund for Account 1, while another 30% was for Account 2.
However, Chua said the government had formed the Credit Counselling and Debt Management Agency (AKPK) to help individuals with financial management problems by providing advice and a suitable repayment plan.
As of September this year, the deputy minister said more than 141,000 borrowers had been registered and assisted under AKPKs debt management programme.
Meanwhile, he said perception that the credit card application process was easy was inaccurate because according to statistics, the approval rate for credit card application was between 40%-50%.
He said the process was in line with conditions regulated by Bank Negara Malaysia which takes into consideration the total income of an individual and the number of credit cards requested.
Image source: Flickr user Okko Pyykko.
This probably comes as a shock to no one, but Americans have a debt problem. The 2015 American Household Credit Card Debt Study released from NerdWallet earlier this year showed that the average US household was carrying $15,355 in credit card debt and $129,579 in total debt. Cumulative student loan debt also totals in excess of $1.2 trillion dollars. For the average American thats a burdensome amount to pay off over ones lifetime.
Till debt do us part
However, a newly released survey from CreditCards.com paints an even more dreadful sight than many may not have imagined. More than one-in-five (21%) people polled by CreditCards.com predicted that they would never be out of debt, up from 18% last year. This is particularly concerning because the US unemployment rate is at the lowest level in seven years, implying that the economy is healthy and the consumer is, to some extent, thriving.
On the other hand, if there is a minor ray of sunshine its that 22% of respondents this year noted that they were debt-free, which is up eight percentage points from last year. Overall, the average American anticipates being debt-free by age 54.
CreditCards.coms survey also found that age and income can play an interesting role on debt levels and perception. Not surprisingly, millennials have the most optimistic view of getting out of debt, likely because they have decades to do so before they retire.