Debt Secret http://www.debtsecret.net Consumer Resources To Fight Junk Debt Buyers Wed, 13 Jan 2016 01:06:24 +0000 en-US hourly 1 InCharge Debt Solutions http://www.debtsecret.net/incharge-debt-solutions/ Wed, 13 Jan 2016 01:06:24 +0000 http://www.debtsecret.net/?p=37 InCharge Debt Solutions is a nonprofit entity that works with consumers that are struggling with debt. Unlike other debt solutions, this company will not suggest that their clients take out a loan. The initial assessment of a person’s debt is completely free and this is a great way to see if it is possible to end the burden of debt you currently have. In fact, the company states that their clients are typically debt-free within 3 – 5 years of following their program. Before delving into what the company offers, let’s take a look at the company themselves. Who is

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InCharge Debt Solutions is a nonprofit entity that works with consumers that are struggling with debt. Unlike other debt solutions, this company will not suggest that their clients take out a loan. The initial assessment of a person’s debt is completely free and this is a great way to see if it is possible to end the burden of debt you currently have. In fact, the company states that their clients are typically debt-free within 3 – 5 years of following their program. Before delving into what the company offers, let’s take a look at the company themselves.

InCharge Debt Solutions

Who is InCharge Debt Solutions?

InCharge opened their service in 1997. Located in Florida, the company currently holds an A+ rating with the Better Business Bureau and is highly rated amongst those that have followed through with their program.

The members of InCharge have over a decade worth of experience and adhere to the standards set by the NFCC and the COA. The company has helped over 1.2 million clients get out of debt and offers an initial free assessment to potential clients.

Perhaps the biggest benefit of the company is that they are a nonprofit organization.

While payments will still need to be made if a client chooses to utilize their debt management program, the fees charged are low and are regulated by the state. This means that payments are typically under $50 and in some circumstances, there will be no fees attached at all.
How the Credit Consolidation Service Works

First, debt counseling will take place. During this time, your most recent credit report will be obtained and a financial expert will assess your situation. This will lead to you knowing what path to take to eliminate your debt and more importantly – how long it will take.

A common option offered by InCharge Debt Solutions is the Debt Management Program which will consolidate all of your debt into one monthly fee. This does not occur with a loan, so no further debt is accrued during this time. Instead, InCharge will contact your creditors and begin to negotiate with them so that your payments are lowered. This will ensure that:

Interest and monthly payments are lowered
Late fees are waived
Collection calls and letters are reduced

Now, one monthly payment is made to InCharge only. From here, the company will disperse the money to all of your creditors to ensure that you maintain all of your necessary payments. By doing this, there is never a reason to miss a payment or forget to pay a bill. Typically, your one monthly payment is less than paying each creditor individually. This program’s biggest benefit is that you will know the exact date you will be debt-free.
Educational Services

Those that choose to work with the company will also be opening the door to an abundance of educational services. By talking to a counselor over the phone or by watching their informative videos, clients will learn all about:

Budgeting: Not only will clients learn how to budget, they will also understand what led them to the debt problem that they currently have.
Credit: Learn about how credit works, interest misunderstandings and when the right time to utilize credit is.
Home: Mortgages, expenditures and various other important home-based finances are taught so that you can fully understand what it takes to remain debt-free.

Bankruptcy Services

Bankruptcy may be the only option for a person to get out of debt. When this occurs, a person will have too much debt that even a consolidated monthly program simply would not be feasible. However, there is an in-depth assessment that is done by InCharge to determine if bankruptcy is the right course of action for your circumstance. If this is the case, the company will be able to help.

InCharge can help with all of the pre-filing requirements as well as the pre-discharge education that is required during bankruptcy. This will all be done in accordance to the Bankruptcy Code so that you can proceed on your route to your new life.
Housing Services

Those that reside within the state of Florida will be able to utilize InCharge so that they can avoid foreclosure. The following items will need to be provided:

Billing statement
Bank statement
Mortgage statement

From here, the company will begin to determine long and short term means in which a client may be able to avoid the foreclosure process.

Free workshops are given by the company every Saturday so that potential homebuyers can learn more about the buying process and what they will need to obtain a loan. Furthermore, these workshops teach buyers about what type of financial hardships they may have when purchasing a home and what they can do to manage the costs so that they stay out of debt.

There is also pre-purchase housing counseling available that will help a person understand their current financial situation and determine if buying a home is possible.

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Enhanced Recovery Company http://www.debtsecret.net/enhanced-recovery-company/ Fri, 02 Oct 2015 14:37:20 +0000 http://www.debtsecret.net/?p=26 How to Deal With ERC Debt Collection Big banks need to make their money back. Oftentimes, hanging on to the debt of their clients is simply no longer feasible. Instead of not being paid for this debt, due to non-payment for example, banks will write the debt off or sell it for pennies on the dollar to junk debt buyers. Enhanced Recover Company is just one of the many collection agencies working with junk debt buyers that are in the business of buying debt from banks and hounding you with non-stop phone calls and letters. In fact, this is an

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How to Deal With ERC Debt Collection

Big banks need to make their money back. Oftentimes, hanging on to the debt of their clients is simply no longer feasible. Instead of not being paid for this debt, due to non-payment for example, banks will write the debt off or sell it for pennies on the dollar to junk debt buyers.

Enhanced Recover Company is just one of the many collection agencies working with junk debt buyers that are in the business of buying debt from banks and hounding you with non-stop phone calls and letters.

In fact, this is an agonizing experience simply because the calls will not stop until action is taken. Thankfully, this has happened so often that people know how to fight ER collections.

Debt Validation

It is essential to have you debt validated. One of the biggest problem areas for consumers is that they never ask to have the debt verified. Sometimes, the debt is erroneous and other times it is valid. In either case, you don’t want to admit to the debt and you always want verification.

What does debt validation do?

Essentially, junk debt buyers are bullies. They buy debt and then they hound consumers with the hopes that they will receive payment. Throughout the process, they often fail to get all of the legal documents they need to actually verify the debt. In essence, without being able to verify the debt, ER Collections can’t expect you to pay them.

The burden of proof is on the debt collector. The collector must provide the following:

  • Proof that the debtor has agreed to the debt.
  • The full amount and records of principal.
  • The full amount and records of interest, fees and payments.

There must also be proof that the chain of title has not been broken. This is a lot of information that Enhanced Recovery Company must be provided. Oftentimes, the company will not respond. Under the Fair Credit Act, once you have disputed a claim, action must be taken within 30 days by the collection agency.

You will want to keep a copy of this documentation and even go as far as having the paperwork notarized. This is your first line of defense.

Oftentimes, the company will not respond. You need to take action quickly to resolve the matter. Continually monitor your credit report to see if their claim has been deleted. If ERC fails to respond and fails to remove the debt from your credit, you can do the following:

  • File a complaint with the Better Business Bureau.
  • File a complaint with the FTC.

Oftentimes, an investigation will occur through the FTC and the item will be removed from your credit. This leads to you being unaccountable for the debt and ERC Debt Collection will no longer harass you as a result.

Harassing Phone Calls

Enhanced Recovery Company
It is within your legal right to put an end to harassing phone calls even from debt collectors. Not only is this practice illegal if calls are frequent, but it can be stopped immediately. Send, in writing, a letter with a return receipt that states the company can no longer contact you through telephone.

If the calls persist and your request is ignored, you are allowed to file a claim against the company for breaking the law. This claim can be up to $12,000 and has worked very well against this company in the past.

Legal Assistance

Many consumers do not realize that the practices of these companies are often illegal. Under the FDCPA, the company cannot make harassing phone calls, they cannot threaten you and they cannot reveal your debt to anyone else.

Oftentimes, these companies will file a claim against you in an effort to force your hand into paying them. If your debt is not substantial, these claims are all but worthless because the company will not want to forgo the costs of a court case. It is simply not feasible for them to do so.

As a defendant, you must also ensure that the case is handled within the state where the original lender was located or where you are located. It is illegal for the collector to request a case to be made in Alaska if you live in Florida and the original lender was based in New York. If the states do not match up, you have a strong argument against illegal practices.

If you are forced to plead your case, ensure that an attorney is by your side. Statistics show that only 1 percent of people use legal assistance when fighting debt collectors and this leads to immense trouble.

There have been cases where ERC has overstepped the bounds and has had class action lawsuits taken against them. One such case can be seen here.

Enhanced Recovery Company is very good at intimidating consumers and ultimately getting them to pay debt. Sometimes, this debt is not even valid as many consumers have claimed. One consumer even called the original debt holder, a cable company that verified the account in question was paid in full and that no debt existed. Others have had contact from the company, yet the company had the completely wrong social security number.

If the initial steps outlined above do not help, they must be taken quickly, it is time to call an attorney. An attorney will be able to spot errors in claims, provide proof that claims are invalid and further hold off the claims of ERC.

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Fast, Easy Ways To Reduce Your Debt http://www.debtsecret.net/fast-easy-ways-to-reduce-your-debt/ Tue, 29 Sep 2015 16:12:07 +0000 http://www.debtsecret.net/?p=24 With the average credit card debt of an American household standing at $8,000, you would be forgiven for thinking that you are destined to be in debt until your death. Naturally, reducing your debt is only possible if you are earning more than your monthly expenditure but even households in this situation find it extremely difficult to pay off their debts. In fact, for most households, their debt situation is getting worse as they borrow more money to pay off existing debt. Fortunately, there are a number of easy ways to reduce your debt and take one step closer to

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With the average credit card debt of an American household standing at $8,000, you would be forgiven for thinking that you are destined to be in debt until your death. Naturally, reducing your debt is only possible if you are earning more than your monthly expenditure but even households in this situation find it extremely difficult to pay off their debts. In fact, for most households, their debt situation is getting worse as they borrow more money to pay off existing debt. Fortunately, there are a number of easy ways to reduce your debt and take one step closer to financial freedom.

Credit Cards

If you are in severe debt, it’s likely that credit cards are the problem. You need to completely eradicate credit card spending until you have paid the existing balance off. Interest rates on credit cards are extremely high. Even a $300 credit card debt will take over two and a half years to pay off if you elect to pay the minimum. One of the best things to do in order to get rid of a credit card bill is to organize a yard sale where you get rid of all the junk in your home that is no longer needed. The money raised from this sale should be used to pay off those credit cards.

Another quick tip relating to credit cards is to ring up the card company and ask for a reduction in your interest rate. Over 30% of those who attempt this receive significant cuts on their rate. Why? Because these companies are acutely aware that you could initiate a balance transfer to another credit card company. A balance transfer is a great way to reduce debt as you pay no interest on the card for a set period of time. However, there are terms and conditions that must be adhered to. Failure to do so could see you suffer large financial penalties.

Insurance

If you have car, life, home or health insurance, be sure to regularly check the deals you are receiving. For example, a healthy individual could save hundreds of dollars by setting their health insurance deductibles higher. The same process can be used on other forms of insurance.

Salary Advance

Those who have worked for the same company for years may be able to ask for an advance on their salary. Most organizations will be delighted to help loyal employees out. They usually take a certain percentage of subsequent pay checks but this is interest free. You can use the advance to pay off debts such as credit cards which carry a high interest rate per month.

As you can see, credit cards are the biggest debt danger but you can easily reduce it through research and by using common sense. There is also a host of other simple ways to tackle your debt.

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Midland Funding LLC http://www.debtsecret.net/midland-funding-llc/ Tue, 29 Sep 2015 14:41:52 +0000 http://debtsecret.net/?p=9 Midland Funding LLC doesn’t exactly have a squeaky clean reputation. After reading customer complaints and learning more about the company, it’s easy to see why. Yes, this is a legitimate company, but the way they do business is really what’s questionable. Midland Funding is also know as Midland Credit Management, MCM Collections. They employ some unethical practices in an attempt to get consumers to “pay up” for their past due debts, which leaves consumers in a difficult situation. We like to refer to companies that use this tactic as “junk debt buyers”. Who is Midland Funding LLC? Midland Funding, which

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Midland Funding LLC doesn’t exactly have a squeaky clean reputation.

After reading customer complaints and learning more about the company, it’s easy to see why.

Yes, this is a legitimate company, but the way they do business is really what’s questionable.

Midland Funding is also know as Midland Credit Management, MCM Collections. They employ some unethical practices in an attempt to get consumers to “pay up” for their past due debts, which leaves consumers in a difficult situation. We like to refer to companies that use this tactic as “junk debt buyers”.

Who is Midland Funding LLC?

Midland Funding LLC

Midland Funding, which may appear as Midland Credit Management on your credit report, is in the business of debt collection. They not only purchase debt directly from creditors, but from other collection agencies as well. Midland typically buys “junk debt,” but they purchase newly defaulted accounts on occasion. The company’s website, Midland Credit Online, provides debtors with information about how their services work and why they were contacted by Midland.

How MCM Wears Down Debtors

If Midland buys your debt, you’ll know it.

Midland Funding Phone Number

Consumers often complain of incessant phone calls from the company. Some even say that the company will continue calling for hours without so much as a five minute break between attempts. Why would they do this? This is all a part of the company’s “wearing down the debtor” scheme. And phone calls are just the beginning of this.

MCM also reports to all three of the credit bureaus. Not only that, but they are very selective about what they report to these agencies. Consumers claim that their reporting practices are an attempt to damage their credit as much as possible. Again, this is their way of wearing down the debtor. It is not uncommon for debtors to find Midland on their credit report twice or to find that the company has reported the debt as an installment account instead of a collection.

Midland Credit Management also has a habit of not validating debts.

This is one of the most common complaints against the company. Third-party collection agencies are required to provide consumers with proof of debt providing the request for proof is made within 30 days of discovering the account. Until a validation is sent, collection is prohibited by federal law. Midland, however, will not even respond to validation requests.

Within the last three years, there have been 1,230 complaints made to the Better Business Bureau, and the majority of these complaints are related to collection/billing issues. It’s no surprise that Midland Credit reviews are almost always negative, but how can consumers protect themselves from the company’s questionable practices?

What MCM Cannot Do

Under the FDCPA, there are certain things that debt collectors can and cannot do. MCM cannot do the following things when trying to collect debt from you:

  • Attempt to contact anyone but the main person who owes the debt
  • Contact you at your employer’s office if you tell them not to
  • Contact you at unreasonable hours (e.g. before 8AM or after 9PM)
  • Contact your employer to inform them of your debt
  • Use profane language during calls
  • Send collection letters disguised as letters from government or court offices
  • Threaten to arrest you if you do not pay the debt
  • Threaten you with credit harm, wage garnishment or referral to an attorney without the intent on acting on this threat

Consumers have complained of incessant phone calls from MCM as well as inappropriate phone behavior and harassing letters. In some cases, MCM has filed judgments on old debts that have already been paid off. Other consumers complain of the company calling them regarding debt that isn’t even theirs.

It’s important to understand what debt collectors can and cannot do so you can protect yourself as a consumer. Debt collectors can be aggressive, but you need to understand the line between being aggressive and crossing the line. If MCM violates any of the rules above, they may be held liable for damages.

How You Can Protect Yourself Against Midland Funding?

midland finance

There are a few ways in which consumers can protect themselves from Midland Credit Management. The first, and most obvious way, is to do your best to avoid defaulting on loans and credit cards. Ensure that your payments are made on time. Speak with your lender directly to try and arrange for a payment plan that you can manage.

If your debt has already been sold to Midland, you may be able to protect yourself from a lawsuit by understanding the statute of limitations on debt collection. If your debt is particularly old, the statute of limitations may have expired. In this case, Midland cannot get a judgment against you. If the statute of limitations on your debt has expired, speak up and don’t be afraid to show up in court. Otherwise, Midland will receive a default judgment in their favor and will start garnishing your wages and bank account.

The best thing consumers can do is report MCM to the FTC for any illegal or unethical practices they may be performing.

Furthermore, if MCM is violating any collection agency rules, you may be able to file a lawsuit against them. Several lawsuits have already been filed against the company, and they have been fined by both Minnesota and Texas for their practices.

Between the lawsuits filed against Midland Credit Management and the bad publicity surrounding their practices, the company may have changed their policies or practices. However, it’s important to stay informed and protect yourself should the company attempt to violate any of the collection agency rules.

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What The Debt Collectors Don’t Want You To Know http://www.debtsecret.net/what-the-debt-collectors-dont-want-you-to-know/ Tue, 29 Sep 2015 13:50:19 +0000 http://debtsecret.net/?p=5 With household consumer debt at an all-time high in America, it seems more than ever people are seeking credit card debt relief to help them get out of their current state of financial hardship. Job losses and pay cuts are also on the rise, which means people simply do not have the funds available in their budgets to get out from under the strain of an enormous credit debt burden. Are there any legit debt consolidation programs that can relieve the financial stress, or does it really just come down to scam artists touting too-good-to-be-true results from the latest debt

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With household consumer debt at an all-time high in America, it seems more than ever people are seeking credit card debt relief to help them get out of their current state of financial hardship.

Job losses and pay cuts are also on the rise, which means people simply do not have the funds available in their budgets to get out from under the strain of an enormous credit debt burden.

Are there any legit debt consolidation programs that can relieve the financial stress, or does it really just come down to scam artists touting too-good-to-be-true results from the latest debt consolidation program or financial e-book?

Most people who are in a significant amount of credit card debt have spent a lot of time online researching various options to help their situation.

From certain advisors who are all to quick to take a huge chunk of your money for bogus advice to costly consolidation programs that can destroy your credit, there is listing after listing in search engine results for the phrase “credit card debt secrets.”

How do I know this?

Well, I feel victim to one of these as a young adult who had amassed a serious medical debt from a car accident.

These website was created to help other consumers avoid making the same mistake I did.  I signed up with a debt consolation company from Texas who ending up destroying my credit and taking $4,000 of hard earned money with them.  This was literally the first money I made after graduating college.  My goal was to get out of medical debt within my first year as a professional.

However, taking a good look at your personal debt situation and analyzing the terms of your credit cards reveal the so-called debt secrets to debt reduction that actually work, without costing your more money or further damaging your credit score.

Check out these real world tips that can help you turn around your financial situation once and for all:

Open A Line Of Communication With Your Creditors

Communication with your creditors is key, especially when you find yourself in a difficult position and unable to manage the amount of your debt.

Creditors would like to work with you and create a working instead of getting nothing as is the case with non-payment or bankruptcy.

Furthermore, credit companies compete against each other, which means you can threaten to cancel your card and transfer the balance to another company if they are not willing to work with you.

So if you have a nasty late fee or an increased APR, call up the company and ask for them to remove the fee or lower the rate. If they do not cooperate, you can hit them where it hurts: moving to the competition!

Change Your Card Type

This is not changing to a different company, but just asking for a different type of card within the same company.

For example, some cards offer a platinum or professional brand of card that offers better benefits, including a lower APR or cash-back incentives. In most cases, if you call your company and ask to change to a different card, they will honor your request. It is in their best interest to keep you within the company rather than lose you to a competitor.

Explain Your Financial Hardship

Since we have established that card companies want to keep your business, it makes sense that they will want to work with you even if you have lost your job.

Why would they want to work with you when you are broke?

Because they would rather have a little of your money than none of it, card companies are often willing to ease your loan terms, eliminating fees and even lower minimum payments to get you through an especially difficult time of job loss or pay cuts.

Again, this is better for them than the scenario in which you quit paying altogether or file for bankruptcy.

Keep in mind that credit card companies are businesses.

Just like any retail store, they want to keep your business and prevent you from going to a competitor. For these reasons, they are often willing to bend some of their rules to keep you as a customer.

The most important debt secret of all is simply communication with the creditor.

By respectfully explaining your financial situation and making requests for breaks, you are more likely to employ one of the debt secrets and keep your credit in good-standing, even during a time of hardship.

Practical Advice On Digging Out Of Debt

Pay more than the minimum payment:  When you’re really struggling with credit card debts, this sounds impossible, but it’s one of several important debt secrets.

By paying more than the minimum payment amount, you will reduce total amount of money you pay since you’ll pay much less in interest.  This definitely requires sacrifice and dedication, but it will add up to you spending less money and reducing your debt.

Set up automatic payments with your bank:  This is another great debt secret for reducing your debt because once it’s set up, you don’t even have to do anything.

Most companies allow you to do this online. Just give the credit card company your banking information and tell them how much money to withdraw each month to pay your credit card debts.

This is a powerful strategy that gets you in the habit of reducing debt.

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