"Your seminar saved me thousands of dollars. I was just about ready to sign up with a debt settlement company and was glad I could do this myself. I have just received my first settlements for 40%. I would recommend this seminar to anyone that feels they are over their head in debt."
--R.N., Covington, TN
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"I have now listened to your Debt Elimination Success Seminar many times and I must say that it is excellent. The sequencing of the presentation material leads to a very clear understanding of the subject and the seminar is packed with great information from someone who clearly knows the subject very well. The whole seminar is clear, concise, and complete. What I really like is that it actually exceeded my expectations after having ordered it from reading your website (usually it's the other way round!). It's just a no nonsense - step by step - here's how to do it guide. "
--J.N., Newcastle upon Tyne, U.K.
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Credit Counseling Versus Debt Settlement   


     When people find themselves overwhelmed with unsecured debt, they may seek out some type of debt relief service. Two common types of debt relief services are credit counseling and debt settlement.
     Credit counseling involves advising customers on handling finances and a debt management plan is designed that takes a customer's entire financial situation (income and debt) into consideration in order to create a budget. First, negotiations are entered with creditors to discuss a low-interest repayment plan that would give customers the opportunity to pay down their debt over time. The strategy is that during this period, customers would be able to manage and pay off their debt while also taking care of their other expenses. Debt management plans require that customers follow strict budget guidelines and depending on the amount of debt, these guidelines might have to be followed for a substantial length of time. The ultimate goal is to teach customers to use this budget to manage their finances on their own.
     In debt settlement, agents negotiate with creditors to arrive at an agreed-upon lump-sum settlement that is less than the amount due to be accepted as full payment for that debt. Creditors will expect payment of this lump sum either immediately after settlement, or some creditors may be willing to set up an installment plan so the debt is paid over a specified period of time. A possible setback with this process is if the creditor agrees to forgive a certain amount of the debt, customers may have to pay taxes on that forgiven amount.
     Most people find themselves in financial straits because they've lived their lives spending money without focusing on the way they're spending that money. The result of this "mindless management" is mounting debt that eventually crushes the life out of people. Both credit counseling and debt settlement will be beneficial only if people will continue operating within their established budgets and follow through with making all monthly payments regularly for as long as it takes to wipe out the debt. Also, people must continue to use the lessons learned or else they'll only find themselves back in the same financial hole.
     Many creditors are willing to work directly with people to set up a repayment plan so once they understand their financial situation, people are actually in a position to be able to negotiate a plan that would be in their favor. Therefore, a solution worth considering is perhaps people could first try to work out their own finances by doing precisely what they'd pay a debt relief service to do for them. If they're successful in working out a financial strategy that incorporates all of their expenses, then people must remain faithful to the plan, even after the debt has been eliminated.
     If, however, people find that they're unable to handle their finances on their own, then debt relief could be used. For those who feel they just want to get the matter over with and get on with their lives, then debt settlement may be the best choice. For those who want more control over their finances, perhaps credit counseling is the way to go. Just which debt relief program will work best depends exclusively on a person's circumstances so it will be up to them to find out the facts and make the choice that best suits them.