Education Center
Debt Consolidation Loans
Debt Settlement
Beginning to Heal
Depression
Stress
Anxiety
Fair Debt Collection
Unsecured Credit Cards
Secured Credit Cards
Department Store Credit
Annual Fees
Offers with Low APRs
Alternative to Credit Cards
Debt Consolidation Loans
Consolidating all your debt into one monthly bill may seem like a great way to take control of your debt, but at Service First Debt we urge you to be very careful. There is a very high chance that you could end up in even deeper debt!
Like many things in life, Debt Consolidation Loans have a catch. At Service First we have found many clients who have ended up with a larger debt due to the high APR's (Adjusted Periodic Rate) of Debt Consolidation Loans. If you have found yourself in a similar situation, do not worry; we have helped hundreds of people just like you.
Here are a couple things to take note of if you are thinking of a Debt Consolidation Loan. When a lender loans money to pay off all your credit cards and other debt, you have one monthly bill which is paid to the lender. Often these loans do not have a lower APR, and can be as high as APR's of 24%. Even if you do get a decent APR, you are still in debt. The big mistake which we have seen at Service First is people giving up unsecured debt for secured debt. Most Debt Consolidation Loans are given in the form of home equity loans; which means if you do not pay you lose your home. At Service First we understand that Debt can be a stressful time for many people. Do you really need to add the stress of possibly losing your home with unsecured debt? Call us today at 1-800-827-9952 and receive free information on alternatives. Begin to take control of your life.
Debt Settlement
Debt settlement is the most cost-effective, easiest option to pay off your debts and relieve you of having to deal with creditors, collectors and attorneys. We understand the stress and struggle of living with an overwhelming amount of debt, and our goal is to reduce and consolidate your debt so that you can begin living the lifestyle you've been dreaming about…being debt free! If you're simply paying minimum monthly payments, then surely it feels like you are spinning your wheels, getting nowhere. Our program, through negotiation, will cut your debt down to 40%-65% of the total amount. So, you end up paying only a fraction of the debt! Our program is custom-built for each clients current personal and financial situation and level of debt in order to make the process as quick and affordable for you.
Service First Debts negotiation process has been tested and developed over years of experience by our team of professionals in the field of finance and credit card debt. Our professionals are highly skilled in each of their fields of expertise. Through the established relationships that we have with the creditors and financial institutions, we are able to successfully negotiate the debts of our clients at a substantial discount. Creditors are willing to negotiate a debt with Service First, on behalf of our clients, with the understanding that the settled amount will be paid in a timely manner. Furthermore, creditors are always looking to avoid the ineffective and costly efforts of an outside collection company. Service First continues to develop our relationships with creditors throughout the country, and we always maintain a very professional and cooperative relationship with the creditors in order to reach the most favorable settlement offer for our clients. We work directly, and 100% for you.
Debt settlement is a legitimate way of solving your problem without the need for bankruptcy. Our representatives work each case individually to determine your eligibility and then, if you qualify, they will establish a program that allows repayment of the debt through affordable monthly payments while ultimately saving your credit. This approach reduces your debt vs. consolidation options. Our approach assists you by reducing the time to repay the debt and by lowering the total amount you owe.
For more information, complete our brief form for a free 10 minute evaluation. A Service First representative will contact you to discuss how to get started today. There is no cost or obligation.
Beginning to Heal
Healing is a slow process; some days are going to be good, and others bad. The most important thing is knowing that you are regaining control of your life, and the best way to do that is to maintain financial goals in a realistic timeframe. If you have spare time choose fun activities that do not require you to spend lots of money. Sometimes going for hikes or just being outdoors is a very effective way to begin the healing process. Being with friends and family is perhaps the best way to start smiling again. Many of our clients have told us that working out really does the trick for them. Spend time prioritizing what is important in your life and try to place less emphasis on material things. We do, however, encourage you to treat yourself to a nice meal or go out with friends and spend a little from time to time. The healing process takes time, and at Service First we can get you started and help you every step of the way. If things get rough, call us anytime toll free 1-800-827-9952.
Depression
Many people have biological and chemical tendencies for depression, but what can trigger those tendencies? The National Depression Campaign has found that close to 90% of depression cases are prompted by financial problems
(http://www.depressionalliance.org/).
Depression is much misinterpreted by the public, and yet it affects as many as 1 in every 5 people, regardless of sex, age, income or color. It is a sickness, like the measles, flu or mumps and can be treated.
Over the past 20 years scientists have been looking at how certain chemicals in the brain can effect the way we are feeling. Changes in the balance of these chemicals can effect a persons mood. Serotonin is one of these chemicals; depressed people appear to have low levels of it. Unfortunately, scientists still don't know what causes serotonin levels to change. The good news, however, is that they have found ways of correcting the imbalance.
Some of the symptoms of depression include:
Being over-sensitive, consistently questioning thoughts and actions, lack of concentration, forgetfulness, suicidal thoughts, delusions/hallucinations, helplessness, hopelessness, useless, inadequate, bad, guilty, self-hatred, self-harm, loss/gain of weight, loss of energy/motivation, loss of sex drive, physical aches and pains.
If you experience some of these symptoms in any combination for more than two weeks, you should consult a health professional.
At Service First we want to remind you that depression is common. It is not a sign of weakness. It is nothing to be ashamed about. It does not mean you are going mad, and it can be treated. We understand the mental hardships of depression and we treat all of our clients with care. Anytime you feel the pain of your debt, please do not hesitate to call us toll free at 1-800-827-9952.
Stress
Stress is a normal reaction to something that is considered a challenge or threat. Everyone gets stressed at times. It is important to understand that the same situation can produce different levels of stress in different people. For example: Negotiating over a price is very stressful for some people, yet positively enjoyable for others.
Stress is also a natural part of life and is even healthy in small doses. When it builds-up, it can start to do more harm than good.
When under stress the human body prepares for action. This preparation is often referred to as the "fight or flight" response. In the short term, the physical changes it brings about makes a person stronger and more alert. This natural response is designed to help a person get out of trouble. Other times it can help get someone through a job, or adjust to a major change, like the arrival of a new child. As debt builds up, it's easy to feel stressed out, When we talk to new clients it is very easy to hear the pain and frustration in their voices. It's also a great experience to talk to the same clients after a couple of months and hear the difference: from frustration to confidence. Anytime you feel the frustration of your debt, please do not hesitate to call us toll free at 1-800-827-9952.
Anxiety
Anxiety can be tough. It often comes on fast and can sometimes be unbearable. Many of our clients have told us they often get anxious when opening their bills or have to look at bank statements. Debt problems cause a lot of anxiety. Most people become so wrapped up in their own problems that they forget about everyone else. At the same time they begin to take out their feelings on family and friends. The result can be bad feelings between family members, along with a loss of friends. Many of our clients have told us about hurting those closest to them, and every story we hear like that is really tough to deal with. Anxiety will limit your effectiveness at work. Over a long period of time, it will gradually wear you down. You will become physically weaker and begin to tire more easily. At the same time, you will find it harder to concentrate. Anytime you feel anxious about your debt, please do not hesitate to call us toll free at 1-800-827-9952.
Fair Debt Collection
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector."
You should know that in either situation, the Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection. Of course, the law does not erase any legitimate debt you owe.
This brochure answers commonly asked questions about your rights under the Fair Debt Collection Practices Act.
What debts are covered?
Personal, family, and household debts are covered under the Act. This includes money owed for the purchase of an automobile, for medical care, or for charge accounts.
Who is a debt collector?
A debt collector is any person who regularly collects debts owed to others. This includes attorneys who collect debts on a regular basis.
How may a debt collector contact you?
A collector may contact you in person, by mail, telephone, telegram, or fax. However, a debt collector may not contact you at inconvenient times or places, such as before 8 a.m. or after 9 p.m., unless you agree. A debt collector also may not contact you at work if the collector knows that your employer disapproves of such contacts.
Can you stop a debt collector from contacting you?
You can stop a debt collector from contacting you by writing a letter to the collector telling them to stop. Once the collector receives your letter, they may not contact you again except to say there will be no further contact or to notify you that the debt collector or the creditor intends to take some specific action. Please note, however, that sending such a letter to a collector does not make the debt go away if you actually owe it. You could still be sued by the debt collector or your original creditor.
May a debt collector contact anyone else about your debt?
If you have an attorney, the debt collector must contact the attorney, rather than you. If you do not have an attorney, a collector may contact other people, but only to find out where you live, what your phone number is, and where you work. Collectors usually are prohibited from contacting such third parties more than once. In most cases, the collector may not tell anyone other than you and your attorney that you owe money.
What must the debt collector tell you about the debt?
Within five days after you are first contacted, the collector must send you a written notice telling you the amount of money you owe; the name of the creditor to whom you owe the money; and what action to take if you believe you do not owe the money.
May a debt collector continue to contact you if you believe you do not owe money?
A collector may not contact you if, within 30 days after you receive the written notice, you send the collection agency a letter stating you do not owe money. However, a collector can renew collection activities if you are sent proof of the debt, such as a copy of a bill for the amount owed.
What types of debt collection practices are prohibited?
Harassment
Debt collectors may not harass, oppress, or abuse you or any third parties they contact. For example, debt collectors may not:
- Use threats of violence or harm;
- Publish a list of consumers who refuse to pay their debts (except to a credit bureau);
- Use obscene or profane language; or
- Repeatedly use the telephone to annoy someone
False statements
Debt collectors may not use any false or misleading statements when collecting a debt. For example, debt collectors may not:
- Falsely imply that they are attorneys or government representatives;
- Falsely imply that you have committed a crime;
- Falsely represent that they operate or work for a credit bureau;
- Misrepresent the amount of your debt;
- Indicate that papers being sent to you are legal forms when they are not; or
- Indicate that papers being sent to you are not legal forms when they are.
Debt collectors also may not state that:
- You will be arrested if you do not pay your debt;
- They will seize, garnish, attach, or sell your property or wages, unless the collection agency or creditor intends to do so, and it is legal to do so; or
- Actions, such as a lawsuit, will be taken against you, when such action legally may not be taken, or when they do not intend to take such action.
Debt collectors may not:
- Give false credit information about you to anyone, including a credit bureau;
- Send you anything that looks like an official document from a court or government agency when it is not; or
- Use a false name.
Unfair practices
Debt collectors may not engage in unfair practices when they try to collect a debt. For example, collectors may not:
- Collect any amount greater than your debt, unless your state law permits such a charge;
- Deposit a post-dated check prematurely;
- Use deception to make you accept collect calls or pay for telegrams;
- Take or threaten to take your property unless this can be done legally; or
- Contact you by postcard.
What control do you have over payment of debts?
If you owe more than one debt, any payment you make must be applied to the debt you indicate. A debt collector may not apply a payment to any debt you believe you do not owe.
What can you do if you believe a debt collector violated the law?
You have the right to sue a collector in a state or federal court within one year from the date the law was violated. If you win, you may recover money for the damages you suffered plus an additional amount up to $1,000. Court costs and attorney's fees also can be recovered. A group of people also may sue a debt collector and recover money for damages up to $500,000, or one percent of the collector's net worth, whichever is less.
Unsecured Credit Cards
Unsecured credit cards are the most common type of credit card. They are easy to get as long as you have a decent credit rating and they do not require you to put down any collateral. These cards usually have an annual fee or high interest rate to allow banks to cover the risk of offering a card to people without any collateral or to someone with imperfect credit. Many unsecured credit cards are offered to college students with a great deal of ease, but this can sometimes result in very damaging consequences. Once the student graduates, they find themselves with a large college loan to pay off a credit card balance with high interest rates. It can sometimes take up to 20 years to pay off all this money.
Not only has Service First helped many people with debt stemming from their college years, we have given them the freedom to enjoy that hard earned education without the mental burdens of debt.
At Service First we have seen the effects of credit card use. In our experience of dealing with clients we have realized that it can happen to anyone and the results can be nasty, both mentally and physically. If you think that you are suffering with depression or stress… click here to find out more and take control of your life again.
Secured Credit Cards
If possible please, avoid secured credit cards. Unlike unsecured credit cards that require no collateral, secured credits do require collateral. Many are deceptive, requiring you to have money in the bank to cover them, or you can only buy products from certain catalogs with expensive items.
Unsecured credit cards are fairly easy to get, even if you have imperfect credit. But if you have imperfect credit and you are already in debt be very careful; at Service First, we suggest getting advice from a professional credit advisor before obtaining a secured credit card. At Service First we offer free information on alternatives, so make sure you are making the correct decision and call us today at 1-800-827-9952.
Department Store Credit
Department store cards are great when you get 10% off all purchases on the day you sign up for the card. After that… watch out! You should expect to pay 18-21% on interests rates with department stores. Often that number is far higher than many credit cards. That 10% only goes so far, and if you do not pay it off, expect to pay 18% or more on future bills. If you have a 6-15% APR credit card, choose that over the 10% discount.
Annual Fees
Some cards offer annual fees in exchange for a lower APR. If you have good credit and your payments have been on time, call up your creditor and let them know you would like them to reduce your annual fee. This strategy often works; remember credit card companies only make money if you have a balance with them, and they want to keep you happy. If your creditor is not willing to remove the annual fee, you always have the option of finding another creditor who can offer a deal closer to what you are looking for.
Offers with Low APRs
Creditors will offer low APR's to gain more customers, enticing them to transfer balances. Most of these low APR's last for about 6 or so months before moving to a more typical APR. Transferring money to a low introductory APR can be beneficial if done correctly; however, at Service First we urge our clients not to maintain any balances to begin with. If your existing creditor is aware that you are going to transfer a balance, they may even lower your current APR in the hopes of keeping you as a customer (Boy! Doesn't it feel great to be in control again?) Sometimes a new APR may work out better. You may even be able to transfer balances every six months between different creditors to maintain a lower APR until you pay off your balance.
Alternative to Credit Cards
The best alternative to a credit card is to have no credit cards at all. Make sure you set financial goals for yourself every month and only spend money when you have money. Using a check card is one of the best alternatives to a credit card. The money comes straight out of your account, so always make sure you are aware of your daily balance. Software programs like Intuit Quicken or Microsoft Money can help you keep track of your daily expenses, or you could use the old fashion method of just balancing your check book. Most banks also offer online banking to give you up to date financial information. Always remember the bills that have to get paid each month and stay on pace with your goals. You can reclaim your future.
