Your Legal Rights re:Unsecured Debt

Stating first that I am not an attorney. There are plenty of attorneys to work with in our business.

You have a right, in the U.S.A., to arbitrate/negotiate your unsecured debts (i.e. credit cards, signature loans, medical bills) or have it done for you. That is in the fine print on every credit card or unsecured debt agreement you have signed. In the fine print, because they really hope you miss reading it.

Life can change in seconds and significantly affect you. Think of Hurricane Katrina and others. Other things such as automobile accidents, major health changes, loss of your job, divorce, and things like this affecting your children or other loved ones who you need to help. I always think of one of my clients whose daughter was diagnosed with breast cancer, needed chemo and they had to help her, going through $40,000 in savings and mounting up over $100,000 in credit card debt.

You also have protection from the Fair Debt Collection Practices Act, monitered through the Federal Trade Commission and other agencies and companies. If you owe someone money, they cannot abuse you or they face a fine of $1,000 per telephone call.

Everyone has legal protection, and if your life has significantly changed on you or your family, stand up for yourself and your loved ones.

Natural Phone Cautions

We do much of our debt consultation business over the phone lines nationwide. We understand everyone's natural cautions to scams and fraud. We DO NOT ask for account numbers or SS numbers over the phone. These are only supplied in legal paperwork to the arbitration firm doing your work. Remember, legally anyone has to tell you if you are being recorded. The ONLY thing we ever record is any payment agreement, and this is done for your protection and the firm's protection, it is announced, and it is completed by a Quality Assurance Representative.

You can search me by name "Roger Foulks" on all the search engines and you will see that I am not hiding, and can be found! We post on many networks trying to find people who need help and every posting we do shows up in the search engines, so feel free to search away.

Roger Foulks, M.B.A.,Anna Maria, Florida,941-320-0818

ALWAYS check the Better Business Bureau File

Before you do business with any Debt Arbitration firm, you should always ask for and check their BBB file. We ALWAYS provide this to our clients, because our recommendation ALWAYS has a great BBB file. A great BBB file is one where only a small handful of complaints have been filed, and they are always show successful resolution. When a company serves 1000s of clients and has this kind of BBB file, you can be confident.

I have checked the BBB file on some companies mentioned by my potential clients and found hundreds of complaints. Don't know about you, but I would NEVER chance doing business with a company with that kind of BBB file.

"Universal Default Clause"

The new law allows ALL creditors to raise your credit card interest rates up to that companies maximum interest rate even if you are late on your water bill! Customers can potentially trigger universal default pricing by a credit card issuer by the following behaviors:

1. Being late (even once) on a credit card, mortgage, utility or car payment.
2. Going over the credit limit, on ANY credit card.
3. Carrying too much debt overall.
4. Using over 50% of the credit line for an individual credit card.
5. Having too much available credit and open trade lines.
6. Making too many credit inquiries.
6. Getting a new mortgage or car loan.

Your interest rates can skyrocket to 30 percent or more if you make late payments, or even make 3 minimum payments in a row!

"How can this be legal?" you may ask. The answer is found in the fine print of your credit card agreement, and it is called a "universal default clause." According to the Institute of Consumer Financial Education, currently almost 40 percent of credit card issuers apply this policy to their customers.

Your creditors also have the right to routinely monitor your credit file. So a creditor with a "universal default clause" will be watching -- and waiting for you to make a small mistake! Check all your credit cards for this clause in the fine print!

They are losing too much money on bad mortgages made, and they will be after your money.

Annual Report: $6.4 Million Saved by 101 New Clients

Our average new client had $26,786 in credit card and other unsecured debt. By the average rules of making minimum payments to get out of debt, with high interest rates charged, it can take 20+ years to get out of debt, and if not another dime is ever charged, it can take 3X the money, or over $80,300 to become debt free in this manner - making only minimum payments monthly on this debt. If a client is 55 years old, they could be 75 years old before they are done, assuming they never charge another dime!

If you have fallen victim to interest rate increases of 20-25% because of "universal default pricing" by your credit card issuer(s), the news can be much worse! It can extend your minimum payments in some cases to over 100 years!

Our "average client" cited above (using their federal legal right to have their debt arbitrated) can be out of debt for an average of $16,670, with all interest, fees and penalties stopped, for an "average savings" of over $63,000.

Their lives have been changed for the better!