Sub-Prime Credit Is Creating Pain For The Middle-Class

Today the Wall Street Journal reports that Middle-Class American's, with good Credit are experiencing the pain of Sub-Prime Credit.

Why are responsible people with good Credit having such a bad experience?  Stick around for my commentary on this subject.

Thanks for stopping by.

In 2007, I co-founded Debt Warriors because I had witnessed the tricks and traps of what I call "Sub-Prime Credit Cards".  Sub-Prime Credit Card Interest Rates start high and stay high. Many Sub-Prime Credit Cards state; that the offered interest rate, for Store Credit, and Gas Cards (if Variable) may go up, but it will never go down. So how it it possible to navigate out of that kind of automatic debt?

Middle-Class Debtors Are Robbing Peter To Pay Paul

I've known for years that responsible Borrowers (Debtors) are robbing Peter to pay Paul, in order to make it from month to month.

The Wall Street Journal article points out that, 'Prime' customers, with high credit scores and the best interest rates on mortgages and credit cards, lost their jobs.  Now over past few months they are running out of temporary quick fixes.

People have disclosed to me in confidence that once they lost their jobs, they were forced to live off of their Credit Cards to pay the bills. The problem is that as ones Available Balance becomes over 40% their Creditors start seeing signs of trouble and begin raising the Borrowers Credit Card Rates.

The Wall Street Journal,  a top-notch financial news source, has objectively verified what I've known, and have been saying for years. From today's Wall Street Journal article, "Credit-card issuers, meanwhile, have been quick to cut off these subprime borrowers, who were in the first wave of delinquencies and defaults".

I only feel bitter-sweet pleasure over my predictions and estimations about Sub-Prime Credit Cards.  I know that right now, someone is feeling the stress of Credit Card Delinquentcy and Default. But I take honor is knowing that I'm trying to do the right thing by American Consumers.

Debt Warriors show Consumers how to effectively eliminate Sub-Prime Credit Card Debt.

In our Debt Reduction Video Courses, Debt Warriors show Consumers how to eliminate their Credit Card debt (for themselves). 

There are a bunch of different debt management options out there. Some of them are OK. But none are better than the DEBT WARRIORS ARSENAL and CREDIT  CARD MEDIC Video Courses.

DEBT WARRIORS™! also offer the ultimate Debt Reduction Weapon: Bonus Debt Consolidation Software. This Software It will quickly calculate a budget for to get out of debt super-fast.

Don't wait for another objective source to validate your Sub-Prime Credit pain.  Take action, order your Debt Warriors Arsenal or Credit Card Medic Video Courses and defeat your debt - for yourself.

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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice. Debt Warriors offer helpful Credit and Debt "Self-Help" video course, Personal Finance, and information products.

Thanks for stopping by THEWARONDEBT.NET
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In 2008 Americans Made 78,000 Complaints About Debt Collectors Dirty Tricks

Federal Trade Commission Report "Urges Debt Collection Reform".

 On August 17, 2009, I produced and uploaded a video called 'Debt Collector's Dirty Tricks' to Debt Warriors Youtube Channel.


This video has received over 18,000 views and hundred's of comments.

Fast forward to a 2009 Federal Trade Commission 'FTC' Report which cites "major problems with 3rd Party Debt Collectors".

"The report recommends changes in the law to require that collectors have better information, making it more likely that their efforts will be for the right amount and be directed to the right consumer. It also recommends that they be required to provide consumers with better information explaining their rights under the FDCPA."

Being in the trenches, working to help hundreds clients stop Debt Collector threats and harassment, I've learned a lot.  For example, when it comes to stopping 3rd Party Debt Collector harassment there is theory and real life.

There are many Websites that offer only surface Debt Elimination information.  Thousands of so called Debt Help Experts have never really helped anyone stop Debt Collector Harassment.  Instead these people go to the FTC website and cherry pick advice, change a few words and claim it as their own.

Theories Don't Stop Debt Collector Tricks.

Other Debt Help Experts have theory but don't know about the dirty tricks that Debt Collectors use to get around the Fair Debt Collections Practices Act ('FDCPA') and other Law's enacted to help Consumers. And because other so called Debt Help Experts don't know about these trick's, how can they help Consumers defend against them? 

On the other hand, Debt Warriors have seen almost every Debt Collector trick under the Sun.  We accounted for them all in the Debt Warriors Arsenal Video Course.

The FTC is Just Now Starting To Catch On.

In the 2009 Report (referenced above), the FTC calls for "modernization" of the FDCPA in the following areas:

• The FTC calls for prohibiting Debt Collectors from contacting consumers via their mobile phones, including by text messaging, without prior express consent; and

Many American Consumer's make simple mistakes like updating or verifying their phone number with the Debt Collector. Debt Warriors cover this area in OPERATION ONE of the Debt Warriors Arsenal. We inform Consumers about how to stop Debt Collectors dirty tricks.

• The FTC urges changes, requiring collectors who use new payment technologies to obtain express verifiable authorization from consumers before accessing their accounts.
  

I've listened in horror as client's have called me crying because they can't access their accounts, because some greedy  a Debt Collection Law Firm has placed a freeze on the client's Bank Account's.  One client came to us for help after going to put gas in her car to go to work and finding that the Debt Collector had frozen her account. 

She was embarrassed and afraid when she learned that her Bank had cooperated with a Debt Collector and blocked access to her checking account. On top of the shame she couldn't access her accounts to buy food for her two daughters or to keep her lights on in her house. She was terrified but had come to trust Debt Warriors after reading out blogs for a few months.

Since she lived in California, I signed her up with an affordable Attorney in California and the Lawyer was able to get on the Bank to unfreeze my clients account.

Debt Collectors will stop at nothing to collect.

Most of what many 3rd Party Debt Collectors do is illegal.  Why do Debt Collectors break the Law so often? Because most American Consumer's don't know about their Rights. Those who go to other Debt Help websites, don't learn about the tricks that Debt Collector's use that violate and circumvent Consumer's Rights.

Debt Warriors Have Been Warning Consumer of  Debt Collector Tricks For Years.


I'm proud that Debt Warriors are being proven right on so many financial issues.  I have to admit that sometimes I've been discouraged to continue helping people for many reasons.  But to paraphrase Winston Churchill "in the end right will win".





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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice. Debt Warriors offer helpful Credit and Debt "Self-Help" video course, Personal Finance, and information products.

Thanks for stopping by THEWARONDEBT.NET
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5 Unfortunate Reasons Why Debt Warriors Teach Do It For Yourself Credit And Debt

Donald Trump and Robert T. Kiyosaki wrote a valuable book called, 'Why We Want You To Be Rich'. 

In the video below, these two titans of finance explain why they wrote the book.




5 Unfortunate Reasons Why Debt Warriors Teach Do It For Yourself Credit And Debt


1. Debt Warriors "Pay It Forward".

In the video above, Donald Trump says, "we want to help people and educate people".  Mr. Trump and Kiyosaki share our values. The book, 'Why We Want You To Be Rich', helped me with my transformation from a Legal Assistant at a Bankruptcy Prevention Law Firm, to becoming an uncomprimising Consumer Advocate.

It's unfortunate that so many Americans are struggling with Credit and Debt issues, but fortunately Debt Warriors are here to help.  Our Credit and Debt Management Video Courses teach Americans how to become Debt free.

Mr. Kiyosakis' book 'Rich Dad Poor Dad' changed my life for the better.  How did he do it? For a one-time payment, I received the life-time blessings of  financial education from that book.  That is why Debt Warriors "pay it forward".

2. Going Into Debt To Get Out - Makes No Sense.

We know for a fact, that it makes no sense for anyone to go further into Debt while trying to get out of Debt.  For that reason, for a one-time payment Debt Warriors provide a life-time of education and savings. We teach American's how to fight back and defeat the challenges of Debt.

Debt Warriors teach Americans how to defeat their debt (for themselves) by educating American's about the tricks and traps of predatory lending, and making it simple to understand  the otherwise complicated issues of Credit and Debt management.

3. American's Have Been Financially Mislead 

Why is that our schools don't teach Financial Education?  Is it because our Lawmaker's in Washington, D.C. get big money from Financial Institutions?  Is it because Americans don't value Financial Education?  We believe it's all of the above and more.  The bottom-line is, American's have been taught to go to school, learn a trade, work for 30 years and retire.

American's should have been taught to go to school and learn to think and create wealth for themselves. Instead, we have been mislead into thinking in term's of "trickle-down economics", meaning those at the top of the pyramid make the dollars, those in the middle make the dimes, and those at the bottom get the pennies.

4. Debt Warriors Don't Want Americans To Squander Their Money.


It's unfortunate that millions of Americans are squandering shares of their future wealth to pay back Credit.  American Consumers are dreadfully shelling-out their Salary to people who specialize in squeezing as much money from Consumers as legally possible.  .

Debt Warriors teach Americans how to save money by providing Debt Reduction software and the secret formulas that Credit Counselors know, but charge unreasonably large amounts of money for. We teach Consumers step-by-step, how to get out of  Debt - using only their current income (above $15,000 per year).


5. We Want To Share Our Success For Less.

When anyone asks why Debt Warriors Video Courses give so much away for so little money, our answer is, because we've been blessed to stumble upon the teachings of people Robert T. Kiyosaki and Donald Trump. We know it makes no sense for American Consumers to go into Debt trying to get out of Debt and improve their Credit for themselves.     


American's have the right to manage their Credit and defeat their Debt, for themselves. And with those rights come the responsibilities to take action and use those Rights. Unfortunately, many American's are not aware of the successes that come with "do it yourself" Credit Management and Debt Elimination.  We truly hope that we can educate millions of Americans that they can, and should learn Credit Education and Debt Management.



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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice. Debt Warriors offer helpful Credit and Debt "Self-Help" video course, Personal Finance, and information products.

Thanks for stopping by THEWARONDEBT.NET
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The Debt Free Secret

Today, I'm going to share with you the 'Debt Free Secret'.

I get calls all the time from people looking for financial advice.  Some who call me are affluent, while others are facing financial adversity.  One thing everyone has in common is that they want to know the secrets of becoming Debt Free.

But please be warned in advance?

The Debt Free Secret is nothing spectacular, but this secret produces positive results from the moment one begins to understand and apply it.  Once one learns this vital secret, they will be unquestionably equipped to become debt free for themselves.  

The Debt Free Secret is not some slick financial flavor of the month.  It's a tested and true way for American Consumers to eliminate their Debt - for themselves. The Debt Free Secret is timeless but many people don't think they have the time to learn it.

The Debt Free Secret Is....

Work. That's it.  If one wants to become Debt Free for themselves, they have to be ready to do the work.  Do it yourself Credit and Debt Management is the unsurpassed method of  becoming debt free, saving money, reducing stress, and learning how to do it over and over again.

One of my favorite teachers is the New York Times #1 Best Selling Financial Author; Robert T. Kiyosaki.  Robert always teaches Financial Education.  People ask him all the time how to become rich like him and he instructs them to "get financial education".

Once I get famous like Robert Kiyosaki, I'm looking forward to someone asking me, "how do I get out of debt"?  I will tell them, "all it takes is work".  Putting in the work to learn Credit and Debt Management is the secret to becoming Debt Free



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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice. Debt Warriors offer helpful Credit and Debt "Self-Help" video course, Personal Finance, and information products.

Thanks for stopping by THEWARONDEBT.NET
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2 Things To Know Before Accepting Credit Card Offers

A Client, a Credit Card Rep and I were on the phone.

We were speaking with a Credit Card Rep while shopping around for a good balance transfer rate. We found a rate that I liked and so I suggested that my client apply for an account.

So my client applied for the card. After about 10 minutes on hold, the Credit Card Rep broke her silence and said,"congratulations you have been approved for our gold credit card". I relaxed in my chair and breathed a sigh of relief because my client needed this card to get out of a bad financial situation.

The Credit Card Rep continued "You should receive your card in about 7 to 10 days. Your interest rate will be a variable rate between 3.99% and 19.99% based on the prime rate as published in the Wall Street Journal".

Then to my surprise, my client asked the Credit Card Rep, "can't I get a Libor Rate applied to this card?" Good question but for the wrong card.

Prime vs. Libor Rates

There are two Credit Card Rates that every Consumer should be aware of; PRIME Rate and LIBOR Rate.

Some Credit Cards use the Prime Rate which is based on the Federal Funds Rate. The Federal Reserve Bank manages the Prime Rate.

Other cards use the LIBOR Rate. LIBOR stands for London Interbank Offered Rate. Usually the LIBOR Rate is lower than the Prime Rate.

For example, Capital One uses the LIBOR Rate whereas, Bank of America uses the Prime Rate.

For this reason it is important for the Consumer to keep track of the Rates. Knowing the difference between the Prime and Libor Rates can save a Consumer up to thousands of dollars in interest payments over the life of the card.

ABC News Reports: Consumers Can Settle Their Debt - For Themselves

There used to be about 20 debt settlement companies in the United States. There are now closer to 2,000. Debt Settlement Companies skyrocketed after federal law changed, making it harder to qualify for bankruptcy.

But many Consumers have had success approaching their credit card companies themselves and offering settlements for less than the total amount they owe.

There are signs that more credit card companies are accepting these offers in this recession economy in order to get something now rather than nothing later.

For more on this ABC News Report click here: Credit Solutions of America's Clients Say Debt Grew Under Company's Guidance - ABC News

Real Estate Attorney Warns Bankruptcy is Not the Easy Way Out

Bankruptcy is Not the Easy Way Out

From: Real Estate Lawyer in Miami, Florida.

Real Estate Lawer in Miami Florida, warns that Bankruptcy is not an easy way out.

"Going Bankrupt, Declaring Chapter 13 bankruptcy is the last thing you want to do. The ramifications reach far beyond any discharge of the debt and stays on your credit record for years.

Bankruptcy makes your life miserable and you have a strict repayment schedule, along with guidelines to meet, to satisfy the terms of the bankruptcy agreement. If there is any other option, then try to find another way to get out of debt.

Settle your Debtoing BankruptDeclaring Chapter 13 bankruptcy is the last thing you want to do. The ramifications reach far beyond any discharge of the debt and stays on your credit record for years.

Bankruptcy makes your life miserable and you have a strict repayment schedule, along with guidelines to meet, to satisfy the terms of the bankruptcy agreement. If there is any other option, then try to find another way to get out of debt. Settle your Debt."