http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/ Our Journey to a Debt-Free Life Sat, 07 Nov 2009 20:44:47 -0800 http://wordpress.org/?v=2.8.4 hourly 1 http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/comment-page-1/#comment-84530 In Debt We Trust Documentary - Plus6 …a personal finance blog Thu, 05 Jul 2007 13:43:14 +0000 http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/#comment-84530 [...] Blogging Away Debt [...] [...] Blogging Away Debt [...]

]]> http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/comment-page-1/#comment-29789 debtonator Tue, 10 Apr 2007 14:38:15 +0000 http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/#comment-29789 Schechter makes a good point about lenders and their savvy marketing. They refer to themselves as the "credit" industry when in fact to the borrower they are a "liability" industry. Money they lend to consumers (i.e. your outstanding credit card balance) is counted by Wall Street as their "asset", and hence makes them look good. Moreover, credit card issuers hire "credit card counseling" services, whose task is really to salvage the best deal possible from people who are in arrears. They're not really out to do you a favor; having already profited from interest and penalties, they seek to eke out what's left through a renegotiated settlement. This is savvy marketing -- squeezing you out of your last dime and having you believe that they're doing you a favor. There are better ways to eliminate creditor liabilities without negatively impacting your credit standing. A good place to start is with financial advisors who offer Financial Liability Portfolio Management services. Schechter makes a good point about lenders and their savvy marketing. They refer to themselves as the “credit” industry when in fact to the borrower they are a “liability” industry. Money they lend to consumers (i.e. your outstanding credit card balance) is counted by Wall Street as their “asset”,
and hence makes them look good. Moreover, credit card issuers hire “credit card counseling” services, whose task is really to salvage the best deal possible from people who are in arrears. They’re not really out to do you a favor; having already profited from interest and penalties, they seek to eke
out what’s left through a renegotiated settlement. This is savvy marketing
– squeezing you out of your last dime and having you believe that they’re doing you a favor. There are better ways to eliminate creditor liabilities without negatively impacting your credit standing. A good place to start is with financial advisors who offer Financial Liability Portfolio Management
services.

]]> http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/comment-page-1/#comment-29713 danielle Mon, 09 Apr 2007 18:17:49 +0000 http://www.bloggingawaydebt.com/2007/04/documentary-in-debt-we-trust/#comment-29713 Hi, Trish. I just wanted to say that I found your website the other day, and I enjoy it very much, even though I am debt free. You are doing really, really great. Keep it up! Danielle Hi, Trish.
I just wanted to say that I found your website the other day, and I enjoy it very much, even though I am debt free.
You are doing really, really great. Keep it up!
Danielle

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