You know you’re in trouble when other people consider the act of recycling plastic in choosing which bag to use at the grocery store. But for you-- recycling plastic means choosing what credit cards to use over and over. The Balancing Act is pleased to have FreedomDebt.com on the program to give viewers advice and options on dealing with credit debt! Tune in Tuesday, January 19th at 7:30am (ET/PT) as they air on Lifetime Television. This is part one of a four part series for FreedomDebt.com as they cover important issues relating to credit debt.
A staggering statistic-- Americans now owe more than 900-billion in revolving credit lines, with about 70-billion past due. Joining the show is financial expert, Tim Wilkins from FreedomDebt.com.
Tim addresses just how motivated creditors are in settling delinquent credit accounts. “Federal stimulus dollars circulating among banks have created an environment where people in debt trouble can negotiate very generous settlements.”
Tim adds, “If you’re over 10-thousand in debt and having trouble paying – it’s a good idea to look into hiring a reputable and experienced debt settlement company. They'll have established relationships with major creditors, and even be able to negotiate medical bills. If you are in a financial hardship, the best companies are typically able to negotiate down your debt to about half. They will then collect a percentage of the money they save you or charge a small percentage of your total debt as a flat fee.”
All fees should be rolled into your new (typically much lower) settlement plan payment.
Another good thing to remember is when choosing a debt settlement company-- you should never pay a consultation fee. Also make sure they have a performance based fee structure so they can ONLY get paid if they save you money. Don't confuse debt settlement with "consolidation" or "credit counseling" companies which only lower your interest rates or roll your debt into another loan.
You’ll want to stay tuned in for this informative series that costs nothing to watch, and could save you money in the end! Make sure you check out www.freedomdebt.com for more information.
Also, check out http://video.o2mediainc.com/videolib/2009/BRND/Freedom30/
for a special offer for The Balancing Act viewers.
Marketing/PR Creative Writer, Denise Kraft. About The Balancing Act, LLC television show—The Balancing Act: The TV show airs on Lifetime Television at 7:30am (ET/PT) -- and is America’s only morning show that’s about women, for women, and trusted by women. Celebrating life and all there is to accomplish, The Balancing Act inspires and empowers with entertaining and educational segments, placing women in the best position to achieve success in every area of their lives. For additional information or to view a segment visit www.TheBalancingAct.com. To sign up for the show’s newsletter go to www.thebalancingact.com/join.php. For more details about The Balancing Act, LLC please visit www.o2mediainc.com. For Media/Marketing Relations—please contact Limor Windt at limor@o2mediainc.com.
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