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Chapter 1: The Short Story about Surviving Credit Card Debt

Finding the Right Kind of Help with Credit Card Debt scroll down

Adopt a Do-It-Yourself Attitude scroll down

The Wrong Kind of Help with Credit Card Debt

Any person with credit debt hanging over their head can fall victim to the siren song of “We are professionals. Let us take care of that debt problem for you.” Any debt-aid firm that wants you to pay them and in addition give them your money to pay your creditors monthly or with a lump sum later is the WRONG kind of help.

Debt counseling and “non-profit” debt counseling, debt management, debt settlement, debt consolidation, or debt negotiation are the terms used by profit-motivated “professionals” offering their “expert” help for an upfront fee and a percentage of what they can save you.

These debt relief firms are the flip side of the debt collection industry. They too prey upon people’s inherent guilt over their debt. Only they do it by offering hope and escape. They are seductive. They offer to solve your debt problems. You can trust them, they say. You don’t have to worry anymore. They have contacts at the credit card banks. They have years of experience negotiating debt settlements, and so on.
The reality is you pay them thousands of dollars up front, most of what they will get from you. (f you only owe a few thousand, they will tell you, you are not a candidate for their services.) Then they go to work . . . ruining your credit in the name of increasing negotiating leverage and trying to keep your money that is already sitting in their bank account.

Finding the Right Kind of Help with Credit Card Debt

Most attorneys who practice law in your community do not have much experience defending against debt collection. There is no money in it. They are interested in greener pastures. Typically they will want as much or more to defend you as you owe, or they will advise bankruptcy, knowing they will be paid well as the first creditor to be paid.
However, you CAN find good legal advice and representation, if you know where and how to look (See Chapter 8.). There have also been many people who have successfully defended debt collection law suits without an attorney. You can find their experiences in the online debt forums through the hyperlinks in this book.

Adopt a Do-It-Yourself Attitude

With the right knowledge and information you can manage your financial situation and escape the tentacles of the debt collection industry.
Everyone’s debt situation is different. Different credit card banks do things differently. Junk debt buyers, collection agencies and debt collection attorneys also vary their approach to pushing your guilt and fear buttons. With the foundation in this book and access to specific, relative online forum postings and other publications provided by this book, you can:
1) Understand you specific challenges;
2)Read about how others have handled those challenges;
3)Respond appropriately as these challenges occur.

Never forget it is your job to diligently manage your present financial situation, and that you can save thousands or tens of thousands of dollars doing that properly. Treat this challenge as a part time job paid for by the money you are saving yourself. Many people of all education levels have done this before you, and as you will see in the online forums, they have succeeded.

In addition, after the gaining the knowledge in this book, you will have the confidence to find the right kind of help, when and if necessary.

And remember, the majority of delinquent credit card account holders do not resist debt collection at all, or they do it ineffectively. If you deny, dispute, and request validation CRRR, debt collectors or debt collection attorneys will decide to spend their time with easier debtors.

This content is not intended as a substitute for legal advice. If you need an attorney in your local area, please contact a licensed attorney in your state.
Copyright 2009 Vision Publishing Inc.

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Then buy the rest of the book including 85 pages in Chapter 6: Defeating Debt Collectors and Chapter 7: Defeating Court Action for the best strategy and language to effectively communicate in writing with debt collectors and collection attorneys to prevent them from pursuing your debt.