Here are 5 tips on how to eliminate credit card debt that you can use:

#1  STOP USING YOUR CREDIT CARDS!

Enough is enough!  You cannot continue to charge up your credit cards and ever hope to pay them off.

Suggestion... Keep the lowest interest rate card with the smallest balance for EMERGENCIES ONLY and DESTROY THE OTHER CARDS. It is only after you realize how deep in debt you are that you will stop using credit.

#2  TRY TO GET LOWER INTEREST RATES

You might consider consolidating your credit cards to one card that will offer a low or zero rate initially and then a reasonable rate (10% or less) after.

But be careful!  Some of the advertisements have a lot of small print that can end up costing you more money.

• Hidden rates
• Hidden fees

You can also call your creditors and ask for a lower rate. Tell them you are shopping around for better rates and will be transferring your balance if they will not help you.

DON'T GET TALKED INTO A HARDSHIP PLAN!

 #3 Use the SNOWBALL METHOD to pay off your credit cards.

The method is simple, yet very effective if:

• You are paying at least the minimum on all of your cards now
• You have additional money to increase the payment on one of the cards

If you cannot afford to do the SNOWBALL METHOD, then consider:

#4  DEBT MANAGEMENT PROGRAM 

A Debt Management Program will allow you to have:

• One payment per month
• It may or may not be lower than the total of all of your minimum payments due now
• Will reduce interest rates and fees
• Help you become debt free in 4-5 years!
  

If you do not qualify for a Debt Management Program or cannot afford the payment, then you should consider tip #5.

#5  DEBT SETTLEMENT PROGRAM 

A Debt Settlement Program is suitable for those under severe financial hardship such as:

• Unemployed
• Divorce
• Medical hardship
• Just not earning enough income to continue paying on the credit cards
  

A  Debt Settlement Program will negotiate settlements on your unsecured debts including:

• credit cards
• store cards
• personal (unsecured loans)
• repossessions
• medical bills

The final settlement amount can be 50% or less than the balance AND your payment will be a lot less than the required minimum payments or a DMP payment.

Before you consider bankruptcy, please contact us for a FREE FINANCIAL EVALUATION.

When your debts are out of control and you miss or get behind in payments, the creditor will do whatever they can to collect, including calling and calling and calling....

The good news is that you DON'T HAVE TO PUT UP WITH IT!

3 Tips on How to Stop Collection Calls

First Tip:

According to the Fair Debt Collection Practices Act (FDCPA), a consumer can demand that a creditor or collector STOP CALLING.

Next time the creditor or collector calls, get the address of the company.

Tell them you plan to send them "something" and need the address.

Second Tip:

Write a brief letter that states something like this:

"I realize that I am behind in my payments and have every intention of repaying this debt as soon as my circumstances improve."

"In the meantime, I am making an official request that you cease calling the following numbers: (list home, cell, etc.)"

"If these calls do not stop, I will file a formal complaint about your company with my State's Attorney Genreral's office."

Sign and date.

Third Tip:

Spend a little extra money to send the letter by CERITIFIED MAIL.

You will get a receipt and the recipient will have to sign for the letter, proving they did receive it.

If you feel overwhelmed with your debt, we can help! Simply call 877-492-4109 to speak to one of our debt solutions specialists right now or click on the link below.

If you are looking for a debt settlement company in Oregon or anywhere else in the country for that matter, there are 5 things to look for:

5 Things to Look for in an Oregon Debt Settlement Company

#1 Visit the Debt Settlement Companie's Website

Does the website offer in depth information, or is it just a landing page to capture your contact information?

A quality site will provide:

• Detailed information about your choices when faced with debt
• A blog that contains all kinds of vital information on a variety of topics
• Free downloads to useful tools
• Free consultation with a debt specialist
  

#2 Check their BBB Rating

What is the companies Better Business Bureau rating?  It is not essential that the company be "accredited" with the BBB.

In fact, the BBB is a private company that makes it's money from providing information about other companies for profit. To be "accredited", a company must pay an annual fee.

Focus on their BBB rating and complaint history!

# 3 Check to see if the company is registered with the state?

For example, any company that offers Debt Management, Debt Settlement or basically anything having to do with finance, must be registered with the Oregon Division of Finance.

There was an interesting article in the Oregonian today about an out-of-state debt settlement company that was fined for financially abusing elderly customers, so be careful and do your homework.

# 4  Go with Your Gut.

When you call the Debt Settlement Company do you feel like it is trying to help you or just trying to get you to sign up?  Having too much debt is very stressful and the last thing you need is to have someone try to give you a "one size fits all" approach to your problem.

A professional, quality debt settlement company will spend a lot of time discussing and counseling with you to determine what your best options are.

If you contact a debt settlement company and all they offer is debt settlement, HANG UP!

Your situation is unique and the answer could be one of several options including:

• Debt Management
• Debt Settlement
• Bankruptcy
• Credit Report Errors of Correction

# 5 Trust your Debt Solutions Specialist

You should feel like the person you are speaking with is knowledgeable, patient, thorough, and experienced.  If not, then trust your feelings and keep looking!

Although your intentions are good, you are likely to overspend again this holiday season. You probably know you should set a holiday budget, and you may have written expected costs next to each item on your shopping list. However, even if you enter the holiday shopping season with a budget in mind, it can be very difficult to stick to it!

In most cases, people tend to rationalize overspending. You and I both know that money is no substitute for love, but may feel the need to spend equal amounts on each recipient to avoid the impression of favoritism. Or we feel pressured to spend a certain amount of money because we were especially generous last year. Before you start shopping, have a family meeting, so everyone will know what to expect.

Start fresh, and take your current financial situation into account.  Nothing you could buy feels as good as starting the New Year in the black.

Here are 5 tips for a Debt Free Holiday Season:

1. Budget Everything – Not Just Gifts

If you want more joy and less stress this holiday season, create a holiday budget that includes decorations, cards and stamps, food for parties, holiday clothing and dry cleaning costs, babysitting, teachers' gifts, and year-end tips for service people. Gifts are only one line item, and they may not be your biggest expense.

2. Spend Time, not Money

Parents tend to make costly decisions when they're rushed. Plan a family trip instead of buying gadgets. You'll treasure shared memories long after today's technology is obsolete.

3. Leave the Credit Cards at Home

Leave credit cards at home to avoid overspending. Studies show people spend about 15 percent more when they pay with credit cards. If you must use a card, carry only one.

An even better idea is to bring cash! Maximize savings by carrying large bills, not a pile of ones, fives and tens. You'll be less likely to break a $50 bill to buy a latte or a silly stocking stuffer.

4. Write Down Each Purchase

Often, we don’t realize how much we are spending as we shop through the mall.  Take the time to write down each purchase as you make it.  This will force you to think before buying that extra little item you see.

5. Don’t Buy Gifts for Yourself

Try to avoid the “One for thee, and one for me” mentality. According to the National Retail Federation, shoppers spent an average of $108 on themselves last year. When you see something you like, write it on a wish list. You'll be ready when your spouse and kids ask what you want, and they will be happy to buy something you'll really enjoy.

Focus on having fun and making memories, not on buying more stuff this season. When you do, you'll make your family rich in the ways that really count. The true holiday spirit is in your heart and your home, not at the mall.

Are money issues plaguing your marital bliss? Well, you're definitely not alone. In fact, research shows that couples fight more about money than any other issue—including sex, jobs, children, and religion.

For a relationship to be healthy and sustainable, both people must be committed to working through money issues. If your marriage is going through a financial rough patch, don’t worry! With a little work and a lot of communication, you'll get through the tough times.

Here are 4 money management tips to get back on the road to a happy and stable relationship:

Tip #1: Hold Yourself Accountable

Let's face it—your spouse probably isn't the only one to blame for financial problems in your relationship. Many people have bad habits when it comes to managing and spending money.

So before confronting your spouse, take some time to carefully analyze your own money habits. See if there are ways you can improve and then jot down ideas about how to make positive changes. When you lead by example, you’ll inspire your spouse to improve their financial habits as well.

Tip #2: Don’t Play the Blame Game

Conversations about money with your partner can get feisty. However, don’t let anger or resentment get the best of you.

Shaming your partner will only embarrass, humiliate, or anger him/her—so be cautious when you talk about money. If you feel that your partner is too careless with money or doesn't include you in financial decisions enough, calmly express how it makes you feel.

Try using this formula: "Whenever you [insert money habit], it makes me feel [insert emotion]."

Explain your thoughts and feelings logically and ask your partner if they'd be willing to work as a team to improve. Keeping any anger and resentment out of a money conversation will make it much more positive and productive!

Tip #3: Make Plans for your Future

One of the most unique ways to improve your relationship as a couple is to start planning for a successful financial future that you will enjoy together. Perhaps you want to save for a home, car, vacation, or early retirement.

Whatever the two of you envision for your future, start making decisions about how you'll reach those goals. Come up with a plan that you can stick to. Many of your financial goals will be long-term, so make sure to have little celebrations every few months to acknowledge your progress.

Tip #4: Talk about Spending Ahead of Time

Since you and your spouse probably won't be together every time you buy something, it's important to talk about big purchases ahead of time. The discussion could be as simple as making a phone call while you're shopping and asking, "Are you ok with me getting these shoes?"

It might seem a little overboard and juvenile, but trust me, considering your partner’s thoughts and feelings will pay off in the long run!

Money isn't always easy to talk about, but that doesn’t mean it has to wreak havoc in your relationship. Use these 4 tips to improve your finances as a couple and make your relationship stronger.

Debt collector harassment can be stopped!

A consumer is protected from debt collector harassment by the Fair Debt Collection Practices Act (FDCPA).  Here are some FAQs about Debt Collector Harassment:

Here are just a few of the unlawful practices that are prohibited by the FDCPA:

• Call before 8am or after 9pm (your time zone)
• Call you at work if you have told them you are not allowed to receive calls at work
• Threaten any type of violence
• use obscene or profane language
• call many times a day
• Disclose any information about your debt to a third party such as family or friends

A debt collector may not make false statements such as:

• They cannot claim to be attorneys
• They cannot pretend to represent the government
• They cannot claim that have committed a crime by not paying or that  you could be arrested unless you pay

A debt collector cannot make threats such as:

• they are going to seize your property or
• garnish your wages unless they intend to take action or follow through with legal action

If you feel that a debt collector has violated the FDCPA, you can contact your state's attorney general's office and file a complaint.

For example, in Oregon, CLICK HERE.

You can also contact an attorney. The FDCPA states that if the debt collector has been found guilty, the debt collector has to pay your attorney fees. 

This means that an attorney can help end the harassing and unlawful conduct at no cost to you! 

The FDCPA also prohibits the debt collector from calling you again when you are represented by a lawyer.  The FDCPA also states that you may be entitled to up to $1000 in damages as a penalty for the debt collector’s violation of the law. 

If you feel like you are being harassed by your creditors, we can help you to eliminate that debt and get them off your back.  Give us a call at 1-877-492-4109 or click the link below for FREE information.

Looking for Oregon credit repair?

Errors and inaccurate information on your credit report can cause your credit score to be lower than it should be.

Here's a few TIPS ON HOW TO CORRECT YOUR CREDIT REPORT:

1.  Take a close look at your credit report!

If you don't have a current credit report or if it has been a long time since you took a close look at it, you need to get an updated report.

Your credit report is constantly changing as creditors are reporting and or inquiring about your credit report.

You can get a FREE Credit Report by going to WWW.ANNUALCREDITREPORT.COM  This site will link you to all three of the major credit reporting agencies... Equifax, Experian and TransUnion.

2.  Mark any items on the report that you need to dispute

Sometimes you will find items on your credit report that just shouldn't be there such as:

• Paid off or settled accounts that still show a balance
• Judgments that you have satisfied that still are showing a balance owed
• Accounts that have been on the report for longer than the statute of limitations in your state
• Inaccurate names or addresses
• Accounts that are not yours (yes, this happens)

#3 Submit your dispute to each of the three credit reporting agencies

Write a letter to each credit bureau detailing your challenge and requesting that the item is removed or corrected.

You should also demand that the creditor reporting show a complete history of the debt (Fair Credit Reporting Act).

It usually takes 30 days or more for the credit bureaus to respond, so you may need to do a lot of follow up.  But DON'T GIVE UP!

Yes you can have incorrect or inaccurate information removed, but it will take time and effort!

If you would like help, please let us know!

If you have a 2nd Mortgage and are able to complete a short sale, you will probably be responsible for the deficiency balance on the 2^nd mortgage.  The good news is, you may be able to negotiate the deficiency balance and eliminate that outstanding debt for much less.

Before I begin, let’s take a look at the benefits of both a Short Sale and a Foreclosure to help you decide if a Short Sale makes sense for you and your family.

Benefits of a Short Sale

• You are in control of the sale.
• You may sleep better at night knowing who is buying your home.
• Your home sale will be handled like any other home sale.
• You will be eligible, under Fannie Mae Guidelines, to buy another home in 2 years instead of 5 years.
• If your credit report does not reflect a 60 day late pay, under Fanny Mae guidelines, you will be eligible to buy another home immediately.

Benefits of a Foreclosure

• There are no mortgage payments to make while you are waiting for the foreclosure to be completed.
• The home is yours until the foreclosure is final.
• There will be no strangers touring your home.
• Some banks offer "cash for keys" after a foreclosure sale.

After researching your options, you decide to move forward with a Short Sale in an attempt to avoid foreclosure.  It’s important that you understand, in most short sales, the first mortgage holder, is the primary beneficiary of the short sale.  This means that most short sales compensate the primary or first mortgage holder and the second mortgage holder usually agrees to accept a very small amount or percentage to RELEASE the equity interest in the home.

In other words, the second holder agrees to have the remaining balance (after the small amount paid for releasing the equity interest) become an UNSECURED LOAN now.

And, in most cases, you are still responsible for this balance!  The good news is, you can usually negotiate a second mortgage balance after a short sale.

Here are 3 tips on how to negotiate a second mortgage after a short sale

#1 Get Prepared

Before you attempt to negotiate the debt with your 2^nd mortgage servicer, you need to know where you stand financially.  It would be a good idea to complete a simple BASIC BUDGET that lists all of your assets and liabilities.

This will show the second mortgage holder where you stand and what you possibly could or could not do to settle the remaining balance.

#2 Don’t Ignore your 2^nd Mortgage Holder

Most of the time, your 2^nd  mortgage company will try to contact you right away.  Don't just ignore their calls or letters as this will leave them no choice but to file a claim with the intent of getting a judgment against you for the remaining balance.

If they do file a claim, you will receive a SUMMONS and your chances of getting a good settlement go down!

Be proactive!  If they haven’t contacted you, then you need to call them to get the communication going.

#3 Start Negotiating

Although the negotiation process can be long and in some cases, very stressful, most second mortgage holders will accept a settlement for less than the amount you owe. How much less?

That depends on many factors.  Your 2^nd mortgage servicer will want to know:

• What are your financial assets? (usually there are no assets or you wouldn't have had to do the short sale in the first place)
• Are you employed?
• Are you receiving retirement income?
• Are you receiving unemployment income?

All of these things are taken into consideration when working out a settlement with you.  Because you have already worked out your budget, you know where you stand.  Stick to a settlement with payments you can afford. There is no point in negotiating a settlement that you default on in the first month. 

Don’t forget to GET THE SETTLEMENT AGREEMENT IN WRITING!  Do not rely on phone conversations or just emails. If you don’t, they can come back for the full amount even after you’ve paid the agreed settlement. 

If all of this seems like just TOO MUCH, click here & let us help!

Is it possible to negotiate student loans? 

It depends... There are basically two types of student loans:

• Government Loans
• Private Loans

There are several types of government loans, but for the most part, these cannot be negotiated.

That doesn't mean you shouldn't try! 

Besides having several repayment options, it may be possible to offer a reduced LUMP SUM PAYOFF of 50%-75% of your balance and pay off your student loan at a reduced amount.

Since most deferment or repayment plans are based on your financial situation, you should gather as much information about yourself as possible before making the calls. In order to  have a chance of negotiating a lower lump sum payoff, you must show that you are in struggling financially.

Start with a basic budget that shows your assets vs. your liabilities.

Again, if you do not have approximately 50% -75% of the balance due, you are probably wasting your time trying to negotiate a federal student loan.  However, budgeting will help you make a plan to save for that negotiation in the future.

You may be able to negotiate a PRIVATE student loan for less!

If you have a PRIVATE STUDENT LOAN from a bank, credit union or other private lending source, you have a VERY GOOD CHANCE of negotiating the loan!

Again, gather all of your financial information BEFORE you make the call.  When you call, explain your HARDSHIP and SITUATION and then ask the agent how much they would be able to reduce the balance if you were to pay in a lump sum right away.

LET THEM GIVE THE NUMBER FIRST!  It may be a lot less than you were willing to pay, so don't offer any amount!

Debt negotiation is not always easy for first timers, so you may want to get some advice or counseling before your call.

If you are successful in negotiating a lower amount, MAKE SURE TO GET IT IN WRITING!

Too many people have sent payments or authorized a check-by-phone debit after speaking with an agent and find out later that the company had NO KNOWLEDGE OF THE CONVERSATION!

Debt negotiation takes a lot of time and patience. 

If you would like help, click here for a FREE REVEIW.

If you are behind on your payments to creditors, you can count on getting collections calls.  Can anything be done to stop the collection calls? YES

How to STOP COLLECTION CALLS:

1. Know your rights

The Federal Trade Commission is an agency whose job is to protect consumers from unscrupulous and illegal activity by debt collectors.

You should download a copy of "Facts for Consumers".

2.  Keep a call log

If you are employed, and getting calls at work, most states authorize you to verbally request that the creditor cease calling you at work.  However, you need to keep a log of calls and your "cease and desist" request for future proof if needed.

3.  Get the collection company's name and address

If you have been getting many calls (some creditors call using an auto-dialer/computer), then you know how annoying it can be.

By getting the name of the company and the address, you can write a letter stating that even though you cannot make payments at this time, you intend to repay this debt.

For Example:

"I have been getting several calls daily from your company about my account.  Although I cannot make any payments at this time, I fully intend to repay this debt as soon as my financial circumstances turn around."

"According the the FDCPA, I am requesting that you cease all calls to my home and/or cell phone."

"If these calls do not cease, I will be reporting your company to my state's Attorney General to begin legal action."

4.  Keep copies and use Certified Mail

Once you have written your letter, make a copy to keep for your records and mail it by CERTIFIED MAIL.  This way, you will have proof that they received the letter.

Most creditors will abide by your CEASE CALLING LETTER, but if you continue to get calls, you may want to go to your state's Attorney General's website and file a complaint.

For example, in Oregon, you would go to: OREGON CONSUMER COMPLAINT.

At DRNW, Inc., we have years of experience in helping our clients with issues like this. Click link below for a FREE Debt Elimination Analysis or simply give us a call at 877-492-4109.  Our debt solutions specialist can work with you to find the best solution for your unique situation.