The interest on the credit cards are high therefore when people default on their payments the accruing interest on the principal balance makes it unaffordable to pay off. After the recent economic depression, millions of Americans suffered a job loss wage cut and unemployment. In such situation, the debt stricken consumers often contemplate filing bankruptcy. Once these people file bankruptcy the creditors can’t retrieve the owed amount and it also blemishes the credit report of the debtor for 7 to 10 years. Therefore, it will be beneficial to negotiate debt than declaring bankruptcy.

You can approach a financial institution and inform them about your financial crisis. If you are current on your payment then the credit card issuing firm will not be convinced to settle your debt. Therefore, you can hire a professional debt arbitrator to settle your debt.

The experts specialize in the skill of negotiation and they are aware of the detailed aspects of arrangement. Therefore, if you take help from a professional then you can devote your attention on increasing your cash flow and concentrate on making monthly payments on time.

The prime factor of negotiating debts is to focus on hoarding money over a specified phase. Your negotiator will instruct you to stop making payment to the creditors. But you need to deposit the amount in the account with the debt settlement company. Once enough money is accumulated in the account the debt arbitrator will start negotiating with the creditors. The negotiator will review your financial situation before offering a settlement to the creditors. Make sure the settlement amount proposed to the creditor is affordable for you to pay off. The creditor and debtor both have to give mutual consent before you start paying according to the new repayment plan. When you are represented by a professional debt arbitrator then you can avoid the harassing collection calls as the creditors see a ray of hope of retrieving the owed amount.

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But how is it a barrier to get rid of Medicare taxation and benefits for the NEW generations that have never paid into them? They don’t pay into it, and that part of our debt vanishes with no huge dilemmas.

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When a person gets a loan from a bank, the bank creates new money to give to the person. The money supply (the total amount of money in circulation) expands by the loan amount. Banks can create money based on the fractional reserve ration that the private Federal Reserve banking corporation sets.

Since money is created as loans from banks and since that loan has to be paid back with interest, it means that as the money supply expands, so does debt. Debt expansion as money expands is simply an inevitable part of the system.

Paying off of debt is deflationary in our fractional reserve banking system. The less debt there is, the less money there is. Cutting of debt means cutting of existing money that is in circulation.

The reason why everyone seems to be in debt to banks at once is because money is debt and is created as debt through the loan process.

So whats the solution to the debt problem?

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What to do about the tax situation?

How best to stabilize the economy while not showing favoritism to certain companies, groups, individuals?

What can we do to stop the corporate corruption of the large "economic" empires from bucking the system and undermining the authority and mediator powers of our government?

How best to avoid future problems like this from arising?

How best to promote economic growth?

What are we going to be doing about the oil situation?

What steps should the american people be burdened with taking to flip the bill concerning our national debt?

What are we going to do about the illegals in this country?

Is our country’s national security a top priority?

What are we going to do to improve our image concerning matters abroad?

Is abortion murder? and… who gets to decide where one life is more important than the other?

What are we going to do about the education situation of this country?

Why should people of a certain age, that don’t have kids be forced to pay school taxes… after a certain point?

Shouldn’t there be some sort of check and balances concerning people who skirt this tax by choosing not to own a house?

Does anyone else out there get annoyed with the supreme judicial appointees legislating from the bench as apposed to interpreting the constitution?

Why aren’t we more concerned with urban sprawl, when vast plots of cities’ internal blocks are broken and desolant?

Is adding a health care plan that will in the long run cost the citizens trillions dollars a wise idea to attempt institutionalizing when our economy is already going through an inflation period to adjust to the rising scarcity of oil?

What ways can say an individual get information concerning how their state, city, county, local beauros are spending money, assisting businesses and private citizens during this economic drout?

you know, and this is just to start. i mean i am ready for something to happen, if it means getting involved so be it. i dont have much else to do, but i dont necessarily know what to do, or how best to go about implementing/discussing/reforming ideas to really address some of these questions. i have some ideas, not all of them are riddled with sarcasm laced with frustration and irritation of the media… but i dont think they are what they should be and just really would like to read what other people would like to see happen and that is all kinds out there. does such a forum of debate exist?

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OR: I use Credit Solutions and I default on my cards so they can negotiate with the banks on my behalf and present me with settlement amounts which could be half if not more of the balance! I pay them 0. for 18 months and my debts to cards is paid within 36 months, if not sooner, at almost k less than what I owed.

BUT: Credit solutions has many scary reviews online. I spoke at length with 2 of their reps and they explained the process to me and it sounds like garden variety debt settlement, so.. i dunno. Which company? Anyone have any experience with either?

I also just called the collection dept. of my cards again and told them all this, can THEY offer me a settlement or payment plan so that there are no 3rd parties and the bank gets their money. They said nope, sorry. So i am kind of backed into a corner of having to use one or the other

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We relocated because our jobs were being terminated and we both, luckily, got jobs but we took about a k hit in combined salaries. We are making ends meet in the sense that minimum payments are being made but it leaves no money for us to even buy groceries. We are on the edge because we do have a 3yr old and eating ramen is not an option. Though, we make too much for assistance. We do not own a house anymore and we have a paid off 2002 car worth around k and a newer car with a lease unfortunately. In better times, we’d be fine but we don’t see any raises coming within the next few years so we need to change something so we can breath and sleep at night without defaulting on all of our bills.

Any suggestions other than Debt consolidation? We have a average combined credit score (which dropped by 60 points within the last year) of 618 if that matters. Our goal is to pay off things without affecting our credit score negatively. Short Term solutions? Long Term?

Thank you for any suggestions.

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