Debt Articles & Information


Many senior Americans between 65 and 85 years of age have been badly hurt by the drastic drop in the stock market on Wall Street, with some even suffering losses of up to 40% on their stock portfolios.

For those that are depending on stock portfolios for their retirement the result has been devastating; it has put many retirees in a much compromised position, left uncertain how they will be able to achieve their debt management and retirement needs after taking such losses.

It has meant for some the need to put off or come out of retirement in a distressed economy struggling with debt management and rising unemployment, not a very promising outlook for their “golden years”.

Despite cutting back on their budgets and managing debt wisely; many seniors are finding that these measures will not be enough to sustain them through the retirement years without incurring more debt, a very distressing predicament; for those who have worked hard and prepared for a secure retirement, and through no fault of their own, now find themselves in.

Some seniors have opted to take out reverse mortgages to assist them with their debt management situations; which provided them with an alternative to having to seek employment, but left very unhappy to have to do so.
Another option that has recently been established is the “equity option” which is neither a loan nor a mortgage; it is an investment in your home by a real estate investment company in exchange for a share in the future appreciation of your house. Basically, in as equity option in which you receive cash today, but sell a part of your home’s future value.

The current equity option guidelines allow for you to receive 10% to 15% of the current appraised value of your home (joint owners such as husband and wife can qualify for 20% to 30%) in cash. There is no accrual of interest and the money does not ever need to be repaid as long as the terms of the equity option agreement are met. To qualify your home must be appraised for $350,000.00 or more. You can seek the advice of a real estate attorney (preferably) or contact a reputable realtor in your area to advise you as to the pros and cons of an equity option.

An equity option may be another alternative for seniors who are struggling with debt management, but anyone considering this should be certain they understand all of the terms and are advised by a representative that has no stake in the matter.
For those who already were experiencing debt management problems before the fall on Wall Street they may want to consider seeking professional advice from a reputable credit counseling company who specializes in debt management and debt counseling services.


The contracting economy and rising unemployment rate Americans are facing today has created an untenable situation. Many Americans who were struggling with debt management problems before the recession, but had not yet sought help with managing their debt, are feeling the increasing unemployment rate and sluggish economy, has left them very anxious as to how to meet their rising debt obligations, and fears of not being able to do so.

Even those who practice good debt management are seeking advice from credit counseling services due to an unraveling economy and concerns over job security. They are seeking to pre-empt a crisis in debt management and want to maintain their good standing with the advice of professionals skilled in debt management and debt resolution.
Reputable credit counseling services offer a variety of methods that usually are geared to clients that have already compromised their credit standing or worse, but are now finding their services are needed in a pre-emptive fashion rather than after the fact.

Credit counselors can and will analyze your particular debt problems in order to devise an accurate and feasible plan to restore you to debt solvency. Wouldn’t it be nice to sleep at night and know that you CAN resolve your debt management situation without filing bankruptcy? Oh, yes we CAN!! No matter how far behind you are in your payments, there are always many possible resolutions to consider.

Unfortunately, most of us are not skilled in the art of financial maneuvering.  If left on our own, without a sound financial planner the task often seems overwhelming, and quite frankly is the undoing of the best intentioned people.
Seeking a professionals help is not a sign of weakness, on the contrary it is one of strength and resolve, in recognizing that you can’t do this on your. Contact your local or nationwide credit counselor for the most up to date solutions and answers to your questions about becoming debt free.

Save Money & Time When You're Sick

In an ever tightening economy when people are struggling to meet their debt management responsibilities and reduce their budget the last thing American workers need is the flu. The cold and flu season which begins in October and runs through March is upon us in full force this year, cooking up its new mutated strains just to keep us guessing how to treat it. The fact of the matter is there really isn’t much we can do once we have “it” but prevention helps and I’m not talking about flu shots.

Every year during flu season the average worker takes 1.2 days off from work due to ordinary illness and experts say that is not nearly enough. That statistic does not mean everyone actually takes a day off due to illness; some employees never take off sick, even if they have allotted sick days in their employment package. These are the dedicated souls who drag themselves in to work no matter how sick they are, these are the ones you have to look out for!

Studies show that people who go into work while sick are; much more likely to be re-infected due to the fact they have not given their body time to recharge its immune system, and they likely infected other coworkers who are now contagious, thus beginning the cycle all over again.

This can be a large problem for employers who due to the economy and struggling with debt management have; reduced their employee rolls, and are operating on a very tight budget, and are ill equipped to have entire departments down due to illness. Some employers are enforcing a mandatory sick day policy when employees are ill, to try to curb the problem.

From an employee perspective this may seem unfair; but in actuality it saves money for the employee and the company in these ways;

  1. Staying home that first day or two when you are most contagious will help to reduce the chance of infecting others you work with or those you serve, saving the company from a loss of revenue, services, or product due to mass absences of flu related illness.
  2. Getting rest will help your body to fight off the flu, rebuild immunities and save you money in doctor or hospital bills associated with re-infection.
  3. Save your money and paycheck in that you will be able to return to work and will be more apt to stay healthy and not miss more work days.
  4. Save the company image; no one wants a red-nosed, feverish looking, coughing employee near them.
  5. Save your job; call your boss immediately and offer to work from home until your well enough to return, be in touch with coworkers you may have a project or deadline with.
  6. If you must go in limit your contact with others and stay out of common areas if possible, you’ll save yourself scorn from your coworkers who don’t want what you’ve got.

National Association of Certified Credit Counselors ISO 9001:2000 Certified on Quality Management System and BSI