ZipDebt Releases New Report: “$100,000 in Credit Card Debt!”

In February 16, 2011

If you are carrying a very high debt balance of $100,000 or more, you’ll want to read our new report: “$100,000 in Credit Card Debt! Financial Survival Tactics for High-Balance Debtors & Small Business Owners”

Here is a brief summary of the report’s contents:

1. When you owe $100,000 or more of unsecured debt, traditional debt reduction methods like debt roll-up simply DO NOT WORK anymore. You’ve reached “critical mass,” where the debt is about to explode out of control (or already has).

2. Debt management plans (offered via so-called non-profit credit counseling agencies) are not even effective for the $10,000 to $30,000 debtor they are designed for. You won’t get rid of your $100k debt load through credit counseling!

3. You have the right to declare bankruptcy, but most high-balance debtors will be stuck with Chapter 13, where some percentage of the debt (or in some cases 100%) has to be repaid over 5 years, under court supervision.

4. You have much greater personal privacy via debt settlement than Chapter 13 bankruptcy, and debt settlement also gives you much more control and flexibility in juggling your finances.

5. Most small business owners rely on their personal credit to obtain financing for their businesses. Personally-guaranteed business cards can be settled just the same as personal credit cards. Larger lines-of-credit can also be settled, although sometimes a little more “paperwork” is involved.

6. Many people wonder whether “the banks will still settle” now that the financial crisis of 2008-2010 seems to have subsided. Settlement was around long before the crisis happened and will continue long afterwards. It’s what banks have always done to reduce their losses on collection accounts. But the game HAS changed, and you need to know what you’re doing before you step into it uninformed.

7. The wrong way to go about debt settlement is to take your time and stretch it out to 36 months (as presented by most debt settlement firms). If you take too long, you will greatly increase the risk of creditor lawsuits. This defeats the purpose of avoiding bankruptcy in the first place.

8. The right way to do debt settlement is on a Fast-Track™ basis. By understanding the mechanical processes employed by the major credit card banks, and using those processes to your advantage, it’s totally possible to settle a large block of credit card debt in a lightning-fast 6-9 months. (NOTE: You probably DO have the resources to make settlement work this quickly, even if it’s not immediately obvious to you how.)

9. One of the worst tactical mistakes you could make is to hire a debt settlement company to “do the negotiating for you.” Recent rule-changes by the Federal Trade Commission have thrown the entire industry into chaos, and a company that’s here today could easily be gone tomorrow. Worse, just the act of hiring one of these companies could greatly increase your risk of getting sued.

10. You can get on the phone and settle your debts yourself. In fact, the creditors’ mechanical collection systems are already designed to settle with YOU, not with a third-party company. To obtain the best possible settlements per creditor, all you need is some training and coaching to help you avoid mistakes, tricks, and traps, and some moral support to help you “stay the course” when the going gets a little tough.

If you are carrying sky-high debt balances, this report is tailor-made for your situation. After reading it, feel free to request a free 20-minute phone consultation, and we’ll help you figure out whether this strategy is a good fit for your specific circumstances.


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ZipDebt = Fast Relief

Debt settlement is just as much about managing risk as negotiating savings. The 36-48 month programs offered by most debt companies have high risk for collection lawsuits. It's far more effective to "fast track" debt settlement in 12-18 months.

ZipDebt = Affordable Help

Instead of paying fees as high as 20-30% of your TOTAL DEBT, it’s far more affordable to work with a professional consultant who only charges 15% of the SAVINGS achieved via the negotiations. This approach saves you money and creates a win-win scenario.

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