Los Angeles, California, Dec. 02, 2020 (GLOBE NEWSWIRE) — “Debt” is an anxiety-inducing topic for most Americans. According to financial experts, about 80% of Americans have some form of consumer debt and are $38,000 in debt, excluding mortgage debt. Unfortunately, financial literacy isn’t a topic that’s extensively covered in schools. As a result, many Americans lack valuable knowledge on personal finance topics — including how credit cards and loans actually work, or how to get out of debt quickly should they experience financial hardship. When times are tough, the concept of “free” money is very appealing and overrides reservations about amassing large amounts of consumer debt.
While consumers have numerous debt-relief options — ranging from consumer credit counselling to debt settlement to bankruptcy — the actual road to recovery is fraught with numerous hazards that include repayment terms with unaffordable monthly payments, repayment terms that take too long, exorbitant fees, and false promises.
With over a decade of experience in the credit and finance industries, these are problems the founders of DIY Debt Relief understand all too well. Debt relief — specifically settling delinquent accounts with creditors and collectors — cost consumers more time and money than most can afford. Compounding the problem are unscrupulous service providers that make promises they can’t keep — charging too much for the service they provide and taking too long to provide said relief. It was with these issues in mind that DIY Debt Relief was created.
DIY Debt Relief is a web-based company that provides educational videos and supporting materials to offer a “do it yourself” alternative for distressed consumers. By eliminating the need for a third-party service provider, consumers can avoid the prohibitive fees they charge — which in turn reduces the amount of time needed to settle accounts, pay off the agreed upon balances, and become debt-free. Additionally, even creditors and collectors who often refuse to work with third-party service providers are all too eager to work with consumers directly.
The content, tools and resources DIY Debt Relief provide are designed to help consumers assess, evaluate, and improve their financial situation. The information is based on United States federal laws and regulations which govern the actions of creditors and debt collectors, which means they can be accessed and utilized in all 50 states. With these assets in hand, consumers can create a plan of action to get their delinquent, unsecured debt paid off as quickly and as affordably as possible. And with the belief that credit repair is the next logical step after the debt settlement and repayment process is completed, DIY Debt Relief provides additional resources and information teaching consumers how to quickly and correctly rebuild their credit profiles and FICO scores.
The DIY Debt Relief process is easy to follow, gives the consumer control, is less expensive to implement, takes less time to complete, and can provide better results. Rather than relying on a third-party to entrust your financial future to, consumers now have the option of taking the initiative and doing the necessary work to get themselves to the debt-free future they deserve. With the goal of taking DIY Debt Relief internationally, the eventual next step is to make the videos in other languages. For right now, DIY Debt Relief’s videos educate on debt relief only in the United States — but its possibilities are endless, its effect promising, and its only trajectory from here is up.
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Lafayette business receives cease and desist order for lack of credit repair bond
LAFAYETTE, La. (KLFY) – A Better Business Bureau Serving Acadiana complaint and subsequent investigation led to the Louisiana Office of the Attorney General issuing a “cease and desist” order to Lafayette-based Virtuous Business Consulting and owner Jessica Chaisson.
The business was ordered to immediately stop performing credit repair services at their 1003 Louisiana Ave. location. Virtuous Business Consulting currently has an F rating with BBB.
The AG order settles allegations the business performed credit repair services without the required $100,000 surety bond as required by state law under the Louisiana Credit Repair Services Organizations Act. Under terms of the order, the business was required to immediately stop performing credit repair services as well as provide the names and contact information for anyone who used their credit repair service. The order was for settlement purposes only and should not be considered as an admission of guilt.
According to BBB records, the company received a complaint from a consumer, alleging the company accepted an advance fee for credit repair then never performed the service. The business did not respond to the consumer complaint.
BBB sent correspondence to the business on Nov. 4, 2020, requesting a brief description of the products or services offered, copies of marketing materials provided to their customers, copies of any service agreements provided to customers and a copy of the required surety bond but BBB didn’t received a response.
“Hearing from consumer experiences help us keep the public informed with situations such as these,” said Jillian Dickerson, BBB Serving Acadiana President and CEO.
According to the U.S. Credit Repair Organizations Act, “No credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed.”
When looking for credit repair services or debt relief, consider the following:
- Understand the difference between credit repair services and debt relief. Credit repair companies repair credit reports for a fee; debt relief are typically programs that offer loans to consolidate debt.
- Carefully research companies on BBB.org before agreeing to any services and make sure the company can help resolve the situation.
- Before signing any contract, read and understand the terms and conditions, especially if it involves a loan.
This 7-Figure Wealth Coach Has Helped Countless People Repair Their Credit During the Pandemic
Coach Legend, as he is known, has been helping people struggling financially during the pandemic increase their credit scores and gain greater financial freedom. He has largely done so with the help of Instagram and Facebook. Through his genuine and authentic approach to social media marketing, Coach Legend has been able to help countless people turn their lives around.
What makes Coach Legend someone people turn to receive advice from is his authentic approach. For him, forging personal relationships is more important than making money. While it is definitely a nice perk of what he does, he isn not motivated by it.
Coach Legend’s primary motivation is helping others. It just so happens that he is great at relating with people and motivating them to improve their lives.
These days, this wealth coach is focused on helping with credit repair. That is because the pandemic cleaned out the accounts of many in 2020. With non-essential businesses closing across the country, many had been furloughed, have seen their hours reduced, or were simply let go. This led to financial hardships for millions of people.
Those who sought to buy homes and cars, or wanted to start their own businesses, came up against financial barriers. With a low credit score, it becomes incredibly challenging to get any sort of decent loan. Thankfully, Coach Legend knows what steps need to be taken to improve financial situations and credit scores.
Thanks to his helpful advice, countless people have been able to improve their credit scores and financial situations. His clients have been able to get the houses and cars they wanted, and are able to enjoy the financial freedom they thought was beyond them.
Coach Legend knows all too well how limiting it can be to work for someone else or be dependent on someone else for your livelihood. That is why he explored becoming an entrepreneur. He saw other mentors of his unlock financial abundance and sovereignty by becoming their own bosses. That is what he decided to do after learning everything he needed to know. It wasn’t long before Coach Legend was operating several different businesses.
By taking the entrepreneurial path, he was able to say goodbye to hard times and limits on what he could achieve. Becoming financially literate was also instrumental in him accessing the abundance that was waiting for him. Coach Legend now enthusiastically teaches others how to gain financial freedom as well, given his extensive experience with the steps needed to take to unlock it.
Social media has been a tremendous resource for Coach Legend, who has audiences on Instagram, Facebook, and YouTube. There, he dispenses sage advice and extends an invitation to anyone who is looking to improve their financial situation to receive advice and guidance from him.
You can watch some of Coach Legend’s keen insights when it comes to success and mindset by heading over to his Instagram Page.
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