What Gregory has written will help some people in debt, but honestly, not many. Know at one point I owned a Debt Collection Agency so I do have some understanding. The problem with sending an unsecure Lender, probably a Credit Card Company, $5 and thinking this will satisfy them until you can get around to paying them beyond the monthly minimum is wishful thinking. Gregory's idea works for some people whose Credit Card or unsecure debt isn't in the tens of thousands of dollars. All the while they allow you to do this your interest is piling up month after month and they will sell your debt to a Collection Company usually around the 6 month point in time. The Company/s that claim to help people get out of debt you see advertised, usually work for the Credit Card Companies. Know if your Credit Card debt is beyond a certain amount, they may take you to Court and paying $5 will not stop such action since it more than likely is not a minimum acceptable amount the Credit Card Company requires. Dave Ramsey has probably been instrumental in helping people like Gregory suggests and offers course to do this. Know no matter what approach you take, once you can no longer afford to make the minimum payments to the Credit Card Company/s or unsecure Lenders, your credit is toast for 5 to 7 years and until the debt drops off the big 3 Credit Reporting Agencies. Many times there is no easy solution once people have gotten themselves in a deep hole, especially when the hole just keeps getting deeper. Once people are in this position, sometimes just stop payments and allow the debt to go to a Credit Collection Agency may be the best solution if you saved some money while not paying the Credit Cards or unsecure debt. Once with a Collection Company, you can usually negotiate a debt settlement for pennies on the dollar, but know everything must be done in writing and by Certified Mail on your part to protect yourself once you reach any agreement. There is the fair Debt and Collection Practices Act both State and Federal that people in this position should be aware of so you know your rights. Sometimes Collection Companies break the Law, so the person in debt must document and record all conversations with dates, times and names. Last, if the debt is well beyond and to prevent being sued, sometimes Bankruptcy Court can be the best solution, but this isn't cheap either. Do your homework before deciding what is the best solution for your situation, one size doesn't always fit all.
Excellent info especially the last part. Fortunately, I have always lived debt free and fully support your investment advice about owning real estate. Thank you for all that you do!
The way it's worded in scripture is : " The LOVE of money is the root of all evil". Money in and of itself is not evil it is what people will do in order to constantly have more and more of it and they even kill for it. The LOVE of it is the problem.
Awesome advice Greg!!! I hope people will take the steps you laid out, especially because of the way the economy is going. Im completely debt free and asset(s) debt free. Love that feeling! Ps: Thx your cash for commodities rant! Roger that! 🙂💟
He’s right except about prejudging certain groups of people. You’ll get yourself in a great big mess if you trust people from certain groups that have high percentages of troublemakers. Your gut feeling about someone is usually right.
Great wisdom and trying to make a small change on other lives. If we all could change a little bit for everyone, we all would be better off. I look forward to every issue of Trends Journal with your wisdom!
I’ve been following you for years. And I’ve known how much you really care for people, but for you to write this letter proves to me again, that you really love people. But the ultimate love is for souls to go to heaven. I pray Greg that God would lead you to the full gospel truth of being born again of water and spirit.acts 2:38, acts 19:1-7, John 3:3-5, acts 10:44-48. This is what the apostles preached to be saved. Thanks Greg
What Gregory has written will help some people in debt, but honestly, not many. Know at one point I owned a Debt Collection Agency so I do have some understanding. The problem with sending an unsecure Lender, probably a Credit Card Company, $5 and thinking this will satisfy them until you can get around to paying them beyond the monthly minimum is wishful thinking. Gregory's idea works for some people whose Credit Card or unsecure debt isn't in the tens of thousands of dollars. All the while they allow you to do this your interest is piling up month after month and they will sell your debt to a Collection Company usually around the 6 month point in time. The Company/s that claim to help people get out of debt you see advertised, usually work for the Credit Card Companies. Know if your Credit Card debt is beyond a certain amount, they may take you to Court and paying $5 will not stop such action since it more than likely is not a minimum acceptable amount the Credit Card Company requires. Dave Ramsey has probably been instrumental in helping people like Gregory suggests and offers course to do this. Know no matter what approach you take, once you can no longer afford to make the minimum payments to the Credit Card Company/s or unsecure Lenders, your credit is toast for 5 to 7 years and until the debt drops off the big 3 Credit Reporting Agencies. Many times there is no easy solution once people have gotten themselves in a deep hole, especially when the hole just keeps getting deeper. Once people are in this position, sometimes just stop payments and allow the debt to go to a Credit Collection Agency may be the best solution if you saved some money while not paying the Credit Cards or unsecure debt. Once with a Collection Company, you can usually negotiate a debt settlement for pennies on the dollar, but know everything must be done in writing and by Certified Mail on your part to protect yourself once you reach any agreement. There is the fair Debt and Collection Practices Act both State and Federal that people in this position should be aware of so you know your rights. Sometimes Collection Companies break the Law, so the person in debt must document and record all conversations with dates, times and names. Last, if the debt is well beyond and to prevent being sued, sometimes Bankruptcy Court can be the best solution, but this isn't cheap either. Do your homework before deciding what is the best solution for your situation, one size doesn't always fit all.
Excellent info especially the last part. Fortunately, I have always lived debt free and fully support your investment advice about owning real estate. Thank you for all that you do!
The way it's worded in scripture is : " The LOVE of money is the root of all evil". Money in and of itself is not evil it is what people will do in order to constantly have more and more of it and they even kill for it. The LOVE of it is the problem.
good info thank you gm
Unfortunately I hold approximately 12k in debt.
Thanks Greg. You truly are a caring man.
God bless you~
Incredible advice. I have been debt free for years. You outlined the path to freedom brilliantly.
Thank you Gregory. Love this!!!!
Will be shared. Thanks. I shared this once before. Maybe just maybe people will look into it.
Awesome advice Greg!!! I hope people will take the steps you laid out, especially because of the way the economy is going. Im completely debt free and asset(s) debt free. Love that feeling! Ps: Thx your cash for commodities rant! Roger that! 🙂💟
This is gold information, thanks for sharing!
He’s right except about prejudging certain groups of people. You’ll get yourself in a great big mess if you trust people from certain groups that have high percentages of troublemakers. Your gut feeling about someone is usually right.
Great wisdom and trying to make a small change on other lives. If we all could change a little bit for everyone, we all would be better off. I look forward to every issue of Trends Journal with your wisdom!
Worked for me thanks Gregory
I’ve been following you for years. And I’ve known how much you really care for people, but for you to write this letter proves to me again, that you really love people. But the ultimate love is for souls to go to heaven. I pray Greg that God would lead you to the full gospel truth of being born again of water and spirit.acts 2:38, acts 19:1-7, John 3:3-5, acts 10:44-48. This is what the apostles preached to be saved. Thanks Greg
Thanks
Thanks for all you do Greg.