PREPARE TO BE SHOCKED.
If you are now reading this, you most likely are experiencing, or may soon experience, one or more of the uncomfortable situations below. You also may have seen ads for “credit counseling” or “debt consolidation” and think that they could be answers to your debt problems. Be prepared to be shocked at what you learn and what the REAL SOLUTION IS.
Debt Facts
♦ Over 70% of all marriages that end in divorce are due to financial problems.
♦ 75% of all Americans are THREE (3) paychecks away from bankruptcy
♦ Of those Americans 1.5 million will file bankruptcy; 1.5 million will participate in consumer credit counseling; and 37 million will TRY TO NEGOTIATE WITH CREDITORS THEMSELVES – which the creditors love, because the people in debt trouble are not professionals and do not know how the system really works.
♦ On average, when you buy something with a credit card, you pay 132% MORE THAN IF YOU USED CASH.
♦ Typical minimum monthly payments for a credit card are divided into 90% interest and only 10% to principal reduction. The principal amount on your credit card is what the product or service you bought cost you.
♦ Over 71% of all credit card accounts have only the minimum monthly payments being made by consumers.
Debt That is Out of Control
If you find that you are only making minimum monthly payments or are constantly late making your payments, it is very likely that some of the problems above are already happening or have happened. It is time to FIND OUT WHAT SOLUTIONS YOU SHOULDN’T USE to get out of debt and then learn about the real solution that credit card companies DON’T WANT YOU TO EVER LEARN.
WITH OVER $2 TRILLION IN CREDIT CARD DEBT, THESE COMPANIES ARE TERRIFIED THAT YOU MIGHT LEARN AND USE THE REAL SOLUTION.
Who is the Client?
Have you ever gone out and used a real estate agent to buy a home? Many of you reading this probably said yes. Whose best interest do you think that agent was serving? If you just answered “you”, I have some bad news. The answer to whom the real estate agent was serving is revealed when I ask you this question – Who paid him? That’s right – the seller paid him. At the end of the day, whoever is paying that agent is the one he “serves.”
If you were looking at a house priced at $200,000 and you told “your agent” to offer $165,000, the seller’s “influence already starts”. The agent, BEFORE HE EVEN MAKES THE OFFER TO THE SELLER, may have said, “That’s a little low. I think we need to go a little higher to get the seller’s interest and NOT LOSE THE HOUSE. Let’s make sure we are successful and offer $175,000.” Right then, if you don’t realize whom “your agent” is really serving, your cost just went up by $10,000!
Professional negotiators follow this ALL-IMPORTANT RULE:
NEVER NEGOTIATE AGAINST YOURSELF
What does that mean? It means you “NEVER GET WHAT YOU DON’T ASK FOR.” Why don’t you just tell the real estate agent, “Hey, offer the $165,000!” Try this technique on anything you are buying. Go into a clothing store that is selling a pair of pants for $59.00 and just tell the manager, “Listen, I can afford $49.00; can you give me a break?” You would be shocked at how many times you get what you want. What is the worst thing that can happen? The person says “No.” What’s so bad about that? Professional Negotiators know this fact cold. Never tell yourself that you shouldn’t ask for a better price. That is “negotiating against yourself.”
Conflict of Interest
You see the problem with not knowing that the real estate agent, “your agent”, is actually serving the seller is that there actually is a conflict of interest. First, if the real estate agent asks for $165,000 and the seller says, “Yes”, the agent just lost commission. The real estate agent also knows that if he follows your directions, the seller may not sell and he won’t get PAID. He or she is, therefore, “careful” about how he treats the seller. That is who is paying him – right?
So why am I talking about real estate agents? Well, to show you an important piece of information that also applies to credit counselors – the guys you see on TV all the time. On the commercials they tell you that, “You don’t pay anything!” These commercials blast this fact out very proudly. Well, do these credit counselors work for free? Of course not! They get paid by the credit card companies. They SERVE the credit card companies.
Now, do you think it is possible that if you use a credit counseling group that you are getting the best deal possible? I don’t think so. Far from it. Credit counselors for the most part don’t even try to negotiate down the “principal balance” of your credit cards – not one red cent. All they do is negotiate the INTEREST RATES! Wow, isn’t that great? Remember that minimum payments are generally divided 90% to interest and 10% to principal (the amount that the service or product cost you when you paid for it with the card).
So let’s say on one of your cards you are paying 18.9% interest. The credit counselor jumps in as the hero and gets your interest rate down from 18.9% to 8%. Gee, that is great! Wait a second. Do you want to know why the credit card guy loves the deal “his” credit counselor, oh!, I mean your credit counselor made? Here is why:
♦ The credit card company knows you will probably default on the principal if they don’t reduce the interest rate. If you default, they make nothing.
♦ The 8% that the credit counselor negotiated is still VERY PROFITABLE for the credit card company. The “money” they effectively lent you cost them, on average, 40% less than the 8% they are charging you. A 66% profit on the money – not bad.
♦ The credit card companies know that if you hired a professional negotiator who “SERVED YOU”, not “them”, that they would accept pennies on the dollar for the principal you owe and they would get NO- INTEREST. You see at the end of the day YOU HAVE THE REAL POWER. The credit card companies already set aside funds knowing that a percentage of people can not pay their exorbitant interest rates and will settle for pennies on the dollar with guys WHO KNOW HOW TO ASK FOR A PENNIES ON THE DOLLAR SETTLEMENT – GUYS WHO DON’T NEGOTIATE AGAINST THEMSELVES.
Would you like to know another little trick that the credit counselors don’t tell you? Follow on.
VISA Gets Smart
If you open up your wallet or purse and pull out your credit cards, you will probably notice that most are VISA cards. Well, back in the 1960′s, VISA and other credit card issuers noticed that more and more of their cardholders were making only minimum payments and a good percentage of people were just defaulting. What was their solution? You got it. THEY STARTED THE CREDIT CARD COUNSELING INSDUSTRY! They actually were the source of the establishment of one non-profit, credit counseling group after another. The entire foundation of the industry is all about getting the credit card companies paid back as much as possible. Now I ask again, do you want someone negotiating credit card payment reductions for you who is actually working for the other side?
What most creditor counseling groups don’t tell you is that when they take all your credit card bills and “negotiate” down the interest rate and establish one monthly payment for all your cards, your new payment is HIGHER than your old credit card minimums. Not only that, but you send one payment to the credit counselor and in many cases they will wait as long as possible before they pay your creditors each month. Why? Because your money is sitting in their bank account earning them interest. Not only do they get paid a commission of 8-15% by the credit card companies for every dollar they get out of you, but they earn even more money letting your money sit in their bank account.
Debt Consolidation
Now here is your second group of people who claim they solve your debt problems. They are known as debt consolidators. Their whole pitch is that they will consolidate all of your debts into one bill and (here it comes again) “negotiate”, so as to reduce your monthly payment.
Secured Debt vs. Unsecured Debt
Now here is your debt consolidator and you have called him about getting help. You will notice that he or she has you fill out a form that, among other things, asks you all about your house, if you own one. How much you owe, what your equity in the house is, your monthly payments – they just keep asking about what could be your most valuable asset. Why? Because they are going to consolidate all your bills, roll all the debt into your home loan and lower your monthly payment. Isn’t that great?
The problem here is all that unsecured debt you had (credit cards, etc.) is NOW SECURED BY YOUR HOME! If you can’t make your payment in the future, you are not going to have just bad credit (what one can survive with), but you will lose your house. Guess what else happens? The consolidator lowered your payment, not because he “negotiated” your principal down, but because he now stretched a short-term debt (1 to 2 years) into a LONG TERM DEBT of up to 30 years. That wrist watch you bought at the jeweler which had a list price of $100, that using a credit card may cost you $250 with interest payments, can now cost you $500 or more because you are paying years and years worth of interest on it. I don’t know who I dislike more: the credit counselor or the debt consolidator.
The REAL Solution
The real solution to your current debt problems is to do the following:
1) Dramatically reduce the principal you owe on your current debt through a REAL NEGOTIATION PROCESS.
2) After debt negotiations are complete, you then repair your credit so that in the future, if you use credit, the interest rates you are charged are much, much less.
3) Gain further education on the subject of “PREDATORY LENDING” so that you will never find yourself in a financial mess again.
Professional Negotiation
The keys to solving your current debt problem right now are to get the principal (what you paid initially for goods or services) reduced as much as possible as well as to get the accrued interest or penalties waived. If you use a team of professional negotiators who are trained in all aspects of lending, they can squeeze out some shocking and surprising concessions from your creditors. You see there are formulas and policies that you don’t know about that pros do know about and just how far unsecured creditors will go to recover ANY POSSIBLE MONEY FROM YOU. Real pros don’t get paid by the other side either and they don’t use your most valuable asset to get your monthly payments lowered. No, real pro’s get rewarded for how much you DON’T PAY. You will be surprised at how easy it is to start such a “debt negotiation” program.
Credit Repair
If you have had bad credit in the past (or you do now) one of the unfortunate results is that no matter what you buy in the future on credit, the interest rate will be higher than if you had good credit. The good news is that it is easy to re-establish credit. A professional debt negotiator who also knows the system of credit repair will be worth his weight in gold. This is because he can dramatically reduce what you owe now AND can help reduce what you have to pay later.
Take the example of buying a car. If you have bad credit, your interest rate can be as much as 100-150% higher than if you had good credit. In real terms that means on a $20,000 car where your payments are over 48 months, you could be spending an additional $5,000 to $6,000 over the term of the car payment. THAT’S JUST FOR ONE CAR. There are very specific ways to repair your credit that most people don’t even know about – haven’t ever heard about. Your credit repair steps, if done right, include teaching you about these little known laws of credit repair.
Predatory Lending
Now, once your current debts are dramatically reduced (your payment is smaller) and your credit is restored to the highest level possible, it is time to find out about the traps that “predatory lenders” set up to get you back into the debt trap. One can go online on the internet and find out some facts here and some facts there about predatory lending but, unless you can find a total information source about all the different tricks of these lenders, you may still find yourself in the same place 5 years from now that you were in before. It is important to find a complete report on this very important subject.
What to do Next…
We are DEBT NEGOTIATION SPECIALISTS that ONLY work for people like YOU.
We never work for (or are paid by) credit card companies or creditors.
We are offering 2 services that are completely free.
A) First, when you register below, you get immediate access to our revealing, online report entitled, “Predatory Lending – How to Swim with the Sharks.” This report is specially designed to help you detect credit offers that can kill you financially, how to cure the problems caused by predatory loans, and what you can do about the predatory debt you may have right now.
B) You will also get a free debt analysis by one of our team of debt negotiation pros. They will advise you on what type of debt relief you can expect if you were to start a debt negotiation process today. You will learn how easy it is to get started on the path to real debt relief and you will be amazed at how simple it is to relieve yourself of significant amounts of personal debt.
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Important Disclaimer: Any EFS expression about the outcome of any negotiation settlement are based on its best estimate only and are limited by a client’s financial resources at the time settlements are obtained and the creditor’s disposition toward proposed settlements. Individual results may vary. There are risks and potential negative consequences inherent in participating in EFS’s, or any other, debt negotiation programs. Please click here for more details.