Tag Archives: Debt

CEO of One particular of the Nations Leading Industrial Debt Collection Agencies Concerns Response to Hike in Student Loan Interest Prices

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Bohemia, NY (PRWEB) July 05, 2013

On July 5, 2013, John Monderine, CEO at one particular of the nations top commercial debt collection agencies, Speedy Recovery Solution, comments on congressional gridlock involving intense increases in student loan interest prices.

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According to a June 30th, 2013 write-up from CNN Money, Student loan prices doubling on Monday, interest prices of subsidized government loans will a lot more than double on July 1st, climbing up to six.eight%. Lawmakers have attempted to forge a deal in order to alleviate the economic stress experienced by Stafford loan recipients but have been effective therefore far.

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Congressional lawmakers have been unable to come to a consensus and garner support for a bipartisan bill, as they are weighing regardless of whether to produce a quick term or extended term remedy based on present market place conditions. Justin Draeger, president of the National Association of Student Economic Aid Administrators, tells students to brace themselves for the unexpected, “We’re advising our schools to tell students that their subsidized Stafford interest prices are going to be 6.eight% on July 1.”

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Students are increasingly concerned about the ambiguity of the bill and worry no deal will be made in order to address student loan debt. Many students such as Rachel McGovern really feel as although they are becoming ignored, I find it actually frustrating that practically nothing is even becoming brought up, considering that Congress is now in recess,” and “It feels like they are just ignoring student needs right now.”

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John Monderine, CEO of 1 of the nations top commercial debt collection agencies, Speedy Recovery Answer, believes Congress must get their act collectively in order to come up with a remedy, Student loan debt is a burgeoning difficulty amongst young adults and Congress wants to come to a consensus and avert interest rates from spiraling out of handle. While lawmakers are debating amongst enabling rates to rise later versus extending low prices for a year or two, the longer it requires for them to devise a strategy the longer students will be held in limbo.

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Monderine also notes the growing severity of student loan debt, Student loan debt is a main financial crisis inside this country, with far more and much more young adults graduating with debt and unable to attain jobs. This is the second biggest sort of consumer debt out there, behind mortgages. As of 2011, the typical college graduate owed an average of $ 27,000 in student loans.

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Founded in 2006, Fast Recovery Resolution, Inc. is headquartered at the highest point of beautiful Lengthy Island. Fast Recovery Collection Agency is committed to recovering your funds. We think that each debtor has the capacity to pay if motivated correctly. We DO NOT alienate the debtors we attempt to align with them and offer a number of methods to resolve not only your debt but also all their debts. &#13

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Debt Collection Agency CEO Explains Why It Is Difficult to Retire in Greater Education

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Bohemia, NY (PRWEB) June 28, 2013

On June 28, 2013, John Monderine, CEO of debt collection agency, Fast Recovery Solution, discusses how larger educational specialists are reticent to retire due to financial and individual causes.

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According to an report from Insider Greater Ed, titled, Data suggests baby boomer faculty are putting off retirement, far more infant boomer professors are uncertain when they will retire or if they will even retire at all. A Fidelity Investments report indicates that 74% of professors from the ages of 49 to 67 plan to postpone retirement previous age 65 or not retire at all. 69% stated economic issues as their main reason for delaying retirement while other individuals cited personal and expert causes for staying on the job.

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55% of professors have been unsure if they would have enough money to retire comfortably and 42% want to make the most of social safety payments as properly as continue to acquire well being insurance coverage rewards. The National Science Foundations Survey of Doctorate Recipients, which tracked more than 160,000 Ph.Ds reveals that only 28% of professors had retired by 65. In conjunction with this information, a 2011 TIAA-CREF study shows that only 15% of senior faculty anticipated to retire by 65 and over 25% wished they could retire by 65 but counted on working longer.

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Richard Baldwin, a professor of educational administration at Michigan State University believes the recent recession has triggered many professors to rethink whether or not it is financially feasible to retire or not, I feel many folks are delaying retirement due to the fact there are no clear options as to how theyre going to continue an intellectually fulfilling life as soon as they drop off a cliff. That, coupled with the [recession of 2008], triggered a lot of individuals to reassess retirement.

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John Monderine, CEO of debt collection agency Rapid Recovery Resolution, comments on the capacity of greater educational pros to retire by 65, Far more and more educational specialists are realizing it is not as financially feasible to retire as they when thought it was. Even though numerous worry in retirement they will no longer be a part of the intellectual community of an educational institution, most of these exact same people cant afford to retire or pay for their health benefits with no employer assistance.

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Monderine also adds that the lack of professors selecting to retire will make it much more hard for younger Ph.Ds to find tenure track positions, The reality that fewer professors are retiring will make it significantly harder for younger doctorates to enter the field and attain secure positions at educational institutions.

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Founded in 2006, Fast Recovery Remedy, Inc. is headquartered at the highest point of gorgeous Long Island. Fast Recovery Collection Agency is committed to recovering your funds. We think that every single debtor has the potential to pay if motivated appropriately. We DO NOT alienate the debtors we attempt to align with them and offer you a quantity of approaches to resolve not only your debt but also all their debts.

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Leading Direct Response Television Production Firm, Marcus Productions, Inc., Refuses to Produce Loan Modification and Debt Consolidation Commercials

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Hollywood, FL (PRWEB) September 15, 2010

With years of directing and generating some of the most productive direct response commercials, Director Steve Marcus refuses to accept projects from loan modification and debt consolidation organizations who try to scam the customer by asking for money in advance. It issues Steve that other businesses will accept these projects knowing that they are ripping off consumers.

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Steve, who has directed hundreds of effective, national Television campaigns, is concerned that these commercials are getting developed by other companies just to make a quick buck. Marcus productions prides itself for being quite selective with the projects it accepts.

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Forty percent of the projects that come to Marcus Productions are refused because the claims produced by firms can not be substantiated. And, with the way the economy has been more than the last couple of years, the scam artists are coming out of the wood function with new suggestions to rip individuals off via television.

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Fiscal Salvation Adds Loan Modification to its Platform of Debt Related Services

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Philadelphia, Pennsylvania (PRWEB) April 24, 2009

Fiscal Salvation, a national provider of debt consolidation and debt negotiation solutions announced that it has partnered with The Mortgage Modification Consultants to add loan modification to its platform of solutions.

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“As we face the worst times to hit American buyers given that the Excellent Depression of the 1930s, our members deserve a provider who has the ability to secure possibilities beyond the rest of the market,” said David Foster, senior advisor at Fiscal Salvation. “Fiscal Salvation’s members will now be able to take benefit of our extended options, leaving them in a better economic circumstance.”

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About Fiscal Salvation, LLC.&#13

Fiscal Salvation, located in Philadelphia, Pennsylvania and founded in 2007, is a national provider of debt consolidation, debt negotiation, and loan modification services. Fiscal Salvation’s main objective is to relieve members of their financial and spiritual burdens by delivering solid options structured about each member’s person needs. For much more information, go to http://www.FiscalSalvation.com.

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DealKat Launches On-line Credit Card Debt Negotiation Tools

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Mountain View, CA (PRWEB) Might 19, 2009

The DealKat Corporation these days announced the launch of a credit card debt negotiation software platform that creates an straightforward-to-use, on the internet service for customers and creditors to more rapidly and easily settle or restructure unsecured debt in a hassle-free, non-confrontational manner.

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With the rise in defaulted loans in some segments to reach double digits, banks are bracing for an onslaught of feasible create-offs. These create-offs and rising expenses have minimized shareholder return for the banks, and have handicapped a lot of banks from extending credit from the fear of accelerating defaulted loans and mounting losses. Not only are losses spiraling, but also lawmakers are on the verge of passing a set of difficult new consumer protections that could have a devastating effect on earnings. Shoppers at the identical time have observed their options get minimized, and numerous struggle to make ends meet in this predicament.

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DealKat’s innovative service gives consumers a no-risk, low-expense or no-expense remedy to &amp#8232resolving their economic hardships without adding to them. Unlike the approximately two,000+ debt settlement firms, DealKat’s monetary service tool functions on a low flat-rate pricing and takes no hidden charges or percentages. A customer pays only after they accept the terms offered to them by a lender. If there’s no deal, the customer pays absolutely nothing. It is entirely up to the customer whether to accept the terms extended to them by their lender. For some shoppers there will be no charge at all, if the loan getting negotiated is with a single of our participating lenders.

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The DealKat program works by using hugely refined mathematical algorithms that help the calculation of a single-time settlements, month-to-month payment settlement, and general flexible spend and loan modification. Businesses can comprehend incremental revenues from Web-based collections, plus right away decrease their expenses by shifting from costly telephone-based services. Banks would also be able to negotiate with their customers directly and get worthwhile analytics.

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With the current financial downturn, customers have watched their debt accumulate. &amp#8232Lacking a better alternative, several men and women helplessly spiral deeper and deeper into a financial hole. When the only thing most want is to uncover a basic step-by-step resolution to overhaul their finances that does not take a lot of time and income. DealKat puts the tools for settling debts in an effective, on-line manner in the hands of shoppers. It eliminates the unpleasant confrontations and difficult-ball techniques and goes straight to effective negotiation terms. Negotiations are all on the web and at the consumer’s convenience, with out getting to drop precious time on hold, transferred or waiting to be place on hold, again. After the terms of the credit card debt are effectively renegotiated, the customer makes payments straight to the banks.

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In addition to lessening the headaches of buyers, DealKat empowers banks with an automated program for collecting income that may otherwise be lost. Essentially a passive source for new revenue, the DealKat platform is individually customized by banks and lenders according to their unique variables. Entirely versatile and responsive to altering circumstances within a corporation, the DealKat Dashboard delivers 24/7 online access for changing the account parameters for what a bank will and will not accept in terms of settlement.

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DealKat offers a platform of a win/win situation for banks and shoppers alike. Not only is there a much better situation of maintaining a customer for the banks, it also gives an chance for the banks to recover a greater share of the loss vs. promoting of the account in default. It also supplies shoppers with possibilities with no damaging their credit, and possibly budgeting to successfully navigate by means of tough financial instances. This is all accomplished with the breakthrough item designed by DealKat.

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About DealKat:&#13

Primarily based in Mountain View, California, DealKat is dedicated to the monetary accomplishment of &amp#8232consumers and Banks by helping them negotiate in times of financial hardship, and get them back on the correct track. DealKat delivers in an straightforward-to-use platform with convenient on the internet account management. DealKat is co-founded by Sabeer Bhatia and Abir Bhattacharyya. For questions, please contact Neel Naicker at (650) 210-3772 or e mail at dealkat (at) dealkat (dot) com. For extra data you can also visit our web site at DealKat.com.

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Feldman Law Center – Saving Thousands With a Loan Modification – Debt Settlement Mixture

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Mission Viejo, CA (PRWEB) June 17, 2009

Feldman Law Center – Press Release by Feldman Law Center – A grinding recession has put currently struggling homeowners in a position exactly where household debt loads are quickly becoming unmanageable. Loan modification has turn into a well identified remedy for these experiencing hardships which includes toxic mortgages, job losses, getting underwater on the home, divorce, and so on. It has been broadly reported that totally half of these modifications end up back in default within six months. Lately Fitch Ratings published estimates that the re-default prices on mortgages would rise to 70% by yearend 2009 due to inadequate terms on the loan modifications and additional household debt that is not integrated in calculating a what a homeowner can actually afford to spend on the monthly mortgage payments.

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When a homeowner has engaged a firm to negotiate a loan modification on his behalf, entering a debt settlement process can double or triple the decrease in month-to-month payments gained from a loan modification by itself. The debt settlement aspect of this mixture has numerous positive aspects in terms of the loan modification and the positive aspects that would accrue outside of it:

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1) Month-to-month customer debt/credit card payments are normally reduce by 50% inside a single month of starting the procedure.&#13

two) The documented reduce in consumer debt payments makes the general monetary image of the homeowner appear a lot greater. As lenders broaden their scope to account for consumer debt and capacity to pay soon after a loan modification, the decreased payment as a result of the debt settlement could be the difference amongst acquiring a loan modification and becoming denied.&#13

3) Engaging in a debt settlement will hurt the credit score of the customer/homeowner but credit scores aren’t a major aspect in determining whether a loan modification will be accepted or not. Acceptance for the loan modification is mainly contingent on ability to pay which means that a debt settlement, even accompanied by a declining credit score, can aid make the case for a modification.&#13

four) The timing for completion of debt settlements varies from eighteen to forty-eight months in the course of which time the credit score of the borrower will decline. Over time, as each and every account is paid off in the settlement the borrower’s credit score will start to enhance. Concurrently, initial interest prices on a new loan modification are typically set for three to five years prior to payment increases commence to go into effect. An attorney negotiating the terms of a loan modifications to coincide with completion of a debt settlement can place his client in a position where the homeowner could apply for a refinance at a time when his credit scores are on the upswing.&#13

five) Even if a refinance is not available to the homeowner, timing the conclusion of the debt settlement method to precede the 1st interest price bump on the modified loan proves to be advantageous as the homeowner/customer would have additional cash flow as he finishes his payments to the debt settlement.

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For consumer/property owners with burdensome mortgage and consumer debt payments, combining the two processes can make a substantial distinction in cash flowing out of the household, the difficulty in managing the debt, and dealing with the possibility of foreclosure. Have lawyer assess your total monetary picture so that the two processes can be synchronized for optimal final results.

Debt Totally free League Warns Shoppers About Abusive Debt Settlement Organizations

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San Diego, CA (PRWEB) July 9, 2009

A wealth of on the web debt assist education warns buyers about bankruptcy, and dubious customer credit counseling. But, little is identified about abusive debt settlement organizations – something Debt Free of charge League wants to adjust.

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The debt settlement firm negotiates agreements with creditors for a lowered payoff of a consumer’s unsecured debt. The settlement examples at DebtFreeLeague.com illustrate a lot of the proof.

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Nevertheless, Debt Totally free League cautions that the debt settlement business has been targeted by inexperienced and unethical organizations.

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“It’s scary to see loan modification businesses providing debt settlement services. The biggest threat is organizations charging exorbitant fees at a time Americans are financially vulnerable”, states G. Hernandez, Operations Director of Debt Totally free League.

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Not too long ago, the Illinois Lawyer Common filed a lawsuit on Debt Relief USA alleging the debt settlement organization charged an upfront fee of up to 10% of the consumer’s debt, and upon settling 1 of the consumer’s accounts, charged a settlement fee of 13% on the amount saved. The firm also failed to decrease consumers’ debts as promised.

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Hernandez warns, “Legally, no 1 can guarantee to decrease a debt for a particular quantity.

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An other issue is the low-balling practice that has dug debtors deeper in the hole. Some companies withhold the truth that enrolled debts will have balance increases due to the continued accrual of interest and costs.

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Nonetheless, Hernandez contends that his ethical organization is one particular of the great guys assisting shoppers and modest organization owners obtain vital debt relief.

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About Debt Totally free League:&#13

Debt Totally free League gives a debt settlement program that assists shoppers and small business owners resolve financial hardships by negotiating settlements on personal, healthcare, and enterprise debts. Totally free phone consultations are offered by calling (800) 213-9968.

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A New Way to Refinance Student Loan Debt

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Camden, TN (PRWEB) July 17, 2009

Kristi Sayles was seeking for a way to reduce both her house mortgage interest rate and her student loan debt when she asked a loan officer a question…

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“Can I combine my student loan debt with my residence mortgage loan refinancing?”

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The answer was “yes.”

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Kristi’s student loan debt was enormous and increasing due to the high 8% interest price. She lowered it by a small % by allowing the loan firm to deduct her payments electronically from her checking account each and every month, but the debt kept expanding.

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She did not qualify for any of the forgiveness plans and didn’t want to add a lot more difficulties by deferment-which would add to her final debt.

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So, Kristi and her husband worked with the loan officer to refinance their residence and the student loan debt. The outcomes were that the couple saved thousands of dollars!

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LowRateApprovals.com (now asapmortgage4u.com also) started operating in November of 2003 as premier mortgage advertising and lead generation affiliate company. Considering that then, they have grown by adding added beneficial services for their buyers.

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They now offer a wide range of services online that contain…&#13

loan modification&#13
stopping foreclosure&#13
refinancing (even without having ideal credit)&#13
lowering payments&#13
combining student loan debt with property loans to take &#13
advantage of the decrease interest rates available&#13

To use the internet site, just go http://asapmortgage4u.com and fill out the quick kind.

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Kristi says, “Be prepared to answer the telephone, because you will have a number of lenders calling you with provides. Some will be far better than others. Take the best one particular.” Kristi added, “I am so impressed with the company, that I have turn into an independent advertising agent for them. I really feel good about assisting other people the way this business helped me.”

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Speak to info:&#13

Kristi Sayles&#13

Independent Advertising Agent&#13

http://ASAPMortgage4u.com

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New Bankruptcy Law Firm Assists Dallas-Fort Worth Residents Eliminate Debt, Get Monetary Relief

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Hurst, TX (PRWEB) May possibly 13, 2011

With the nevertheless-sluggish economy slow to pick up, far more and far more regional residents are forced to file for bankruptcy in order to save their homes and assets from becoming seized by creditors.

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The Lee Law Firm (http://www.Leebankruptcy.com), a new practice situated on Bedford Euless Road in Hurst, is focused on helping financially-strapped residents of Tarrant, Parker, Denton, Johnson, Hood, Collin, Ellis, Kaufman, Somervell and Smart counties achieve a debt-cost-free life.

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Though the economy is supposed to be picking up, thousands of great, challenging-functioning men and women in our area are still suffering from the havoc wreaked by the recession, says Christopher Lee, owner of the new firm. They have lost jobs, accumulated unexpected medical bills or other expenditures they cant pay in a timely manner. For these folks, filing bankruptcy is an powerful and at times the only – way to get economic relief.

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Lee, who has effectively handled thousands Chapter 7 and Chapter 13 bankruptcy instances as companion in Allmand &amp Lee, the biggest bankruptcy law firm in Texas that he had helped establish in 2007, says his new practice will provide a large firm knowledge and professionalism with the flexibility and affordability of a little firm.

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Lee, who specializes in mortgage loan modification work, says the Lee Law Firm, which employs 3 other bankruptcy attorneys, will work with local consumers to support them eradicate debt, lower their monthly payments, as well as cease foreclosures, repossessions, garnishments, and calls from creditors.

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A lot of folks hesitate to seek support because of the myths and misconceptions surrounding bankruptcy, Lee notes. Nonetheless, I and my attorneys are right here to show them that, if handled appropriately and according to law, bankruptcy will give them an chance to rebuild their credit and give a measurable relief from debt.

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We concentrate on getting to know our customers and the nature of their problems, and then provide the very best and most sound legal tips possible, he adds.

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A 2003 graduate of Texas Wesleyan University College of Law, Lee is a member of the National Association of Customer Bankruptcy Attorneys, the Dallas County Bar Association, the Tarrant County Bar Association, and the American Bankruptcy Institute. He is also a longstanding member of the American Bar Association, as nicely as the Tarrant County Young Lawyer Association, the Dallas Association of Young Lawyers, and the American Consumer Bankruptcy College.

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Debt Settlement and Mortgage Modification Scams on the Rise, Warns Chicago Bankruptcy Lawyer Richard Fonfrias

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Chicago, Illinois (PRWEB) March 8, 2010

Richard G. Fonfrias, J.D. of Fonfrias Law Group, LLC (http://www.chicagomoneylawyer.com), a leading Illinois bankruptcy law firm, urges customers seeking monetary assist in these challenging instances to proceed with extreme caution. “Debt settlement scams and mortgage modifications scams are on the rise in the state of Illinois. These unscrupulous firms prey on people who are desperate to steer clear of economic ruin, who, in several cases, are misled into considering it is their a single and only selection. It is imperative that buyers know their rights below the law and completely understand just what they are getting themselves into, before they sign anything. To make an informed decision, customers need as much details as feasible. Luckily, there is a excellent deal of helpful info that shoppers can access for free of charge, from trustworthy sources such as government agencies and trustworthy bankruptcy lawyer sites,” states Fonfrias.

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Mortgage and financial service fraud are the fastest increasing white collar crimes in the U.S. today. In Illinois, Lawyer Basic Lisa Madigan’s office