• Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.

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I've read the story from abcnews earlier. I strongly suggest that debtors would be able to pay off their debt if they negotiate for settlement with their creditors.

Based on their debt negotiation and settlement skills, they would have a lower outstanding total debt that they can offer to their creditors.

"Coming soon; a ban on advance fees for debt settlement services, and probably more regulation designed to make offering debt settlement services less profitable."

Looking forward to seeing this happen in future.

April 26, 2010

New Jersey Debt Settlement Firm Says GAO Report is False and Inaccurate

We believe the April 22, 2010 GAO report on debt settlement companies is inaccurate and represents a gross misrepresentation of the facts and cannot be taken seriously in its reference to New Jersey based Web Credit Advisors. Even the GAO's own disclaimer states that the information in the report is unverified. We know. Web Credit Advisors's data shows that the GAO findings pertaining to WCA are not correct, and our data is verifiable where theirs is not. WCA is a bona-fide, reputable debt settlement company, with hundreds of satisfied clients in the short time the company has operated. Web Credit Advisors has undertaken all necessary compliance processes and is a member in good standing of IAPDA – International Association of Professional Debt Arbitrators (associate member) and USOBA – United States Organization of Bankruptcy Alternatives (associate member). We take our reputation seriously and the service we provide to customers with the utmost integrity.

After learning about the GAO Report, WCA held a meeting with the management team and reviewed the GAO report and tape. We were able to recognize the voice of the recorded call in the GAO report. The call came into one of WCA's sales affiliate companies who is highly regarded and follows scripts approved by their management. In the claims made by the GAO pertaining to Web Credit Advisors - one was completely inaccurate. Web Credit Advisors was 100% correct in stating that they have 0 unresolved complaints. We did discover a mistake in the script; the script at that time says we have an A rating with the Better Business Bureau (BBB) when

the actual WCA BBB rating was an A- at the time of the recorded call. We apologize to anyone who feels that we were misstating our stature, and while it is a mistake, the difference between a 90 - 95 and a 95-100 does not match at all with the characterizations made by GAO and subsequent media reports. It is also true that 100% of the people who enter, follow the guidelines and complete the program are helped to settle their debt. Like doctors or a weight loss program, for example, the consumer who does not follow the directions/instructions or take all medication prescribed, should not expect optimum results. In summary, GAO made statements on 3 issues of which WCA contends that 2 were completely inaccurate and the third was blatantly misleading. Web Credit Advisors should be removed from the GAO report and GAO should be held accountable for such damaging and unverified reporting.

BBB History

· From January 2009 to December 21, 2009, Web Credit Advisors had a BBB rating of A-.

· On December 21, 2009, the BBB removed the rating to "no rating" and began revising their evaluation of all debt settlement companies

· According to the BBB the highest rating a debt settlement company could get now is a D- (no matter what) and modified WCA rating to an F

· On February 19th, 2010 WCA resigned from the BBB

· WCA has no unresolved complaints and 2 pending complaints that are in the process of being resolved

· WCA maintained an A- BBB rating until the BBB changed its own standards making a D- the highest possible grade

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