Richard, This couldn't be at a better time for me. I have alot of business and personal credit card debt. Your video makes alot of sense to me and could work. I also have unsecured lines of credit with 3/4 banks can it work with those and lastly I have a personal loan for $50k that has very high interest rate, its with Citizens bank On just the business unsecured debt I owe $450K and on personal cards another $100k. How can I get help ASAP and get going. The daily phone calls from all these banks is driving me crazy. I struggle every month to pay the minium and am now staring to fall behind on all of them. I have called them all and tried to work out away that I can afford to pay them and none of them will do it. I am concerned with not paying and having these go to charge off status— they will ruin my credit scores. So if I stop paying and they kept calling they will most likely be reporting it to the business side agencies and my personal credit too is that correct. Thanks john

They won't deal with you if you are paying on time. Why should they?

If you stop paying there is a six month window where you can settle with them.

If you go past the six months you will be dealing with one or more collection agencies who have purchased the debt, usually, and they are easier to deal with.

There are various simple legal things you can do to use the Fair Debt Collection Practices Act to your advantage. Your credit will suffer for 18 to 24 months, pretty bad too. But on the other hand, what if you could indeed get rid of this monster debt? Would it be worth it?

regards

–Richard

see comments above email

Hi Richard,
I saw your website while trying to find information if there's still available help out there to save our home or at least our credit. After listening to your mini video on short sales in 9 days, I wonder if that can apply to our situation considering that our property is scheduled for trustee's sale at the end of this month. We have a first and second mortgage. Please let us know.
Thank you very much.
aj

Liked the info about the credit card problems. How do we get in touch to sart the process? Do you have a service to offer? If not, who does? I owe $120k. Chase is one Bank trying to re-sue me. ( when they find me.) Etc. My # is [deleted] Thanks Mike

Mike, purchase my Mortgage Relief Formula home stucy course

regards

–Richard

Business credit cards don't report on personal credit except if you are very late and they go into chargeoffs. Then they are likely to report.

–Richard

Does your debt reduction system work for unsecured bank lines such as overdraft lines of credit that are linked to a checking account with a bank?

Overdrafts are unsecured credit lines. These are amenable to a debt settlement process same as credit cards and other unsecured debts.

regards

–Richard

Thank you for your emails. As a Realtor I can see that this is great advice for most of my short sale clients. You can be sure I will recommend your program to them. I have a client right now that has consulted with a bankruptcy attorney and is being advised to file Chapter 13. I suspect his attorney is either unfamiliar with your debt settlement ideas or is taking the less complicated route by filing a Ch. 13 where he will be assured of getting his attorney fees quickly with very little work involved. I am so thankful I found your site. I am going to buy your Realtor program today.

Thank you for your kind words. This deserves a lot more than a quick comment but I will try.

If you want to find a lawyer who will help you, call around and ask the front desk or secretary "how many 13s and how many 7s does your office do in a typical month?"

Find someone who does mostly 7s.

The bankruptcy reform made it harder to get a 7 but many lawyers are thoroughly familiar with the law and they can help shoehorn many people into a 7 rather than a 13. I am just Some Guy on the Internet and not a lawyer so don't listen to me but do your own investigation.

The lawyers that I work with do very few 13s. 13s have their place but they are much more expensive than a 7 and worse for most borrowers than a 7.

Also, debt settlement means you do not have to file for bankruptcy at all. So naturally bankruptcy lawyers aren't going to think too highly of it.

regards

—Richard

I have a foreclosure that recently happened and now have 2 collection agencies after me one for the first and one for the second. Will your system help me negotiate this down to a reasonable amount so I can make them go away?

Hi, I think the system will. It can handle deficiency judgments or claims for a deficiency. They are unsecured debts no different from debts like credit cards. Also, remember that I am not a lawyer and can't give specific advice. I'm just Some Guy on the Internet. Thanks

–Richard

I was 5 months late on a credit card payment to Bank of America and the bank took money out of my checking account without notifying me and without my authorization. It was over $400 which caused me to bounce 5 checks and costs me another $170 in overdraft fees. Is this legal? They say it is but they haven't shown me any documentation that says they can do this.
Thank you for a great video.
Jim

awesome awesome system. used it , it works and helping others. Richard can I partner with you to help you sell your books and tapes. It has help me so much i want to return the favor.
Marty

Awesome video. Do you have a boilerplate form for disputing the validity of any creditor's claims? The credit had to show a list of items they are required to have according to the FDCPA?

I went through your course book (do I get free updates??) and I sent all these letters for workout programs to pay down the debt in 36-48 months. Some were receptive, others werent. Some had their own workout programs and some sent the accounts to a collection company 'for review'. These collection companies tried to work out payment but I dont have any funds so they "send file back to original creditor with a note that I refused to make arrangements" or they say they will forward to an attorney.

Either way, I'm looking for a good dispute letter to try and get these wiped out.

Thanks Richard