This is a re-posted news update from WFG- USA , the mother company of IMG in the Philippines.
Our mission to help people get out of debts is worldwide as evidenced by this. Instead of accumulating debts, we want you to accumulate assets, wealth through MUTUAL FUNDS and STOCKS investing...
Read on and be informed and educated so you don't get into the debt trap. And if you are already in it, this will tell you how our company can help you....
WFG Partners,
It was wonderful to see many of you at the Convention of Champions at the MGM in Las Vegas! Thank you for stopping by our booth if you had the opportunity to do so. We are receiving a lot of valuable feedback from Associates that we will be implementing in the months ahead and have already signed up many offices for trainings. It has been another fantastic Convention!
We have two general webinars this month, and if you have not had the chance to participate in one of our training sessions, please register. Both registration links are in this newsletter with further details. If you are unable to join us on a live Webinar, we also now have a recorded webinar on our website at www.wfg.debtmerica.com. Our website also has many resources to assist you including marketing materials, product guides and referral information.
The first article highlighted in this newsletter discusses the increase in credit card debt, despite numbers showing a decrease in delinquencies. A new report in the Wall Street Journal finds the unthinkable is happening: despite joblessness rates remaining high, collectors, who usually do the squeezing, are getting squeezed a bit themselves. Credit card companies are writing off long-delinquent debt as money they will never collect, and doing so in very large amounts.
The next article details how more consumers are turning to experts for debt management plans in aiding them in their battle against unsecured debt. The U.S. Consumer Study on Debt reveals that 5.13 million consumers have enrolled in such services, and The Association of Settlement Companies (TASC) reported their industry helped settle more than $1 billion in consumer debt last year. Just as high unemployment rates, deflated home values, rising gas prices and an economic recession have driven up consumer debt levels, so too have tightening credit markets and a strict regulatory environment limited many forms of debt relief for Americans. Most consumers today must turn to either credit counseling or debt settlement as the only viable ways to resolve high debt levels, if they are working to avoid bankruptcy.
Our third article talks about two senators who do not feel the new Federal Reserve rules on credit card companies are strong enough. The senators say that even with the new rules going into effect on August 22nd, that consumers can still get hit with double or triple the interest rate when they fall behind on their payments. With the help of these senators, more protection would hopefully umbrella consumers from creditors.
And lastly, our fourth article gives helpful tips on how to finance college without taking on heaps of debt, and it emphasizes avoiding credit card debt in particular. From choosing a better fitted university in your budget, to getting help from the federal government, or seeking out the plethora of scholarships available to you – there are great suggestions. Don't believe that a credit card with high interest rates is the only way to get you through. There are various financing options for students out there, and you just have go out and seek them.
We appreciate your partnership and will continue to help your clients reach financial freedom!
Sincerely,
Your Debtmerica Relief Team
Credit Card Debt Getting Worse, Despite Numbers
All the latest numbers make it look like a success story. Credit card debt and delinquencies have declined in recent months, and experts hail these numbers as a sign that Americans are pulling themselves out of financial trouble.
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More Consumers Choosing Debt Settlement and Consolidation
More and more Americans are finding themselves deeply in debt and looking for a way out. They are turning in greater numbers to experts that can help them consolidate, manage or settle that debt.
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Two Senators Push for Greater Protection from the FED on Credit Card Debt
In recent months, many consumers may have found themselves hit with penalty rates and fees for a late payment, which has only added to their ever-mounting credit card debt. And while new Federal Reserve rules will soon be enacted to help alleviate the problem, two U.S. senators say they don't go far enough.
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How to Finance College Without Drowning in Debt
As any consumer who has tried to pay their own or someone else's way through higher education can attest, getting a degree is expensive.
Read More »
Credit Card Debt Relief Programs:
If you are experiencing a financial or personal hardship that is preventing you from paying your bills, please Read More »
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