The number one problem why most debt relief programs fail is that they require FIXED monthly payments without exception. Debt consolidation, equity loans, credit counseling, debt management plans, even Chapter 13 bankruptcy – it doesn't matter which of these debt relief programs you're talking about. They all suffer from that one fatal flaw that makes all debt relief or elimination program fail. It's not the fees, interest rates, or the quality of the companies behind these debt solutions.
You say that your pay check doesn’t vary…GREAT!
Now, what about your expenses? Do you spend exactly the same amount of money each and every month? Sure, your mortgage or rent and your car payments are a set amount each month. But doesn't your utility bill go up and down depending on the weather? What about your phone bill? How much will you spend on car repairs over the next 6 months? Medical bills? Dental bills? Can you predict such variable expenses with any accuracy?
If fluctuating income and expenses are not a major issue for you, great but consider that unexpected expense can destroy your monthly budget. Americans enter these programs with the best of intentions. The fact is that there is very little flexibility to be able to cope with emergencies or unexpected bills. You simply CANNOT miss payments.
In Chapter 13 bankruptcy, the court requires you to pay a set monthly amount to your creditors over a 5-year period. Before the new bankruptcy law went into effect, 2 out of every 3 people failed at Chapter 13 bankruptcy. It is worse under the new law. The court will set your monthly budget based on what the IRS says it should be for your state and county. This is simply unrealistic. The new law under Chapter 7 has made it very difficult to qualify.
Straight talk about debt settlement from a highly experienced industry executive.
Here is a Debt Relief Program with a novel twist. We turn to tables on the debt to debtor scenario. Listen to the 13 min Overview here by clicking on the Podcast (ABOVE) or by visiting Credit CardRIP.comwhere can listen to the overview as well as Testimonials and more....
I would work from a script to get the time and any repetition down. Getting someone to hold up queue cards or projecting the script on a screen/wall behind the camera works.
The information is helpful in that it allows a person to examine a debt settlement method/company more objectively.
I would add that you want to put the disclaimers up front as well as at the end. A script will also keep you from making claims or giving accounting or legal advice.
The information is helpful in that it allows a person to examine a debt settlement method/company more objectively.
I would add that you want to put the disclaimers up front as well as at the end. A script will also keep you from making claims or giving accounting or legal advice.