zipdebt

ZipDebt Clients Enjoy Great Results! Success Tracking Update, 2006 through 2012

In July 2010, I published “Debt Settlement Done Right,” which included ZipDebt’s success tracking statistics for the period 2006-2009. As far as I know, I was one of the first in this industry to publish actual data on my results. Today, it’s still quite rare to see a debt settlement firm publish transparent information about actual performance results vs. the claims made in their marketing materials and sales pitches....

Why Consumers Should Hire A Debt Coach Before Negotiating With Collection Agencies

I’ve been involved with debt settlement since 1997, far longer than most people working in this industry. Yet I still have to shake my head in amazement at some of the idiotic stuff debt collectors say. Now, just to be 100% clear, I have nothing against creditors hiring agencies to collect on their delinquent accounts, and I view the collection industry as an essential part of our economy. The...

DIY Debt Settlement Myth #9: I Just Make One Monthly Payment And They Will Take Care Of Everything For Me

This is the ninth in a series of posts discussing the most common myths about do-it-yourself debt settlement. In this post, I’ll discuss the myth that a traditional debt settlement approach provides peace-of-mind for consumers who enroll in such programs. What many consumers want is to be able to make a single monthly payment into their debt program, with the expectation that the debt company will handle everything smoothly...

DIY Debt Settlement Myth #7: A Debt Settlement Program Will Stop the Collection Bombardment

This is the seventh in a series of posts discussing the most common myths about do-it-yourself debt settlement. It’s common knowledge that your phone is going to start ringing off the hook the moment you begin missing payments on your credit card accounts. Virtually all major creditors have automated dialing systems that are triggered off the lack of a payment being recorded by the due-date, and the bombardment can...

DIY Debt Settlement Myth #6: It’s Safe To Take 36-48 Months To Settle My Debts

This is the sixth in a series of posts discussing the most common myths about do-it-yourself debt settlement. Most traditional debt settlement firms are still quoting program durations of 36-48 months, sometimes longer, and clients are led to believe that it’s safe to take that long. By “safe,” I mean a low risk of lawsuit activity. After all, multiple lawsuits will tend to push a client into bankruptcy and...

DIY Debt Settlement Myth #5: I’ll Be Protected Against Lawsuits If I Enroll With A Debt Settlement Company

This is the fifth in a series of posts discussing the most common myths about do-it-yourself debt settlement. As consumers shop for a debt relief solution and talk with the sales reps at various debt settlement firms, one of the first questions they will usually ask is, “What about creditor lawsuits? Won’t they just sue me to recover what I owe?” There’s no question that taking the path of...

DIY Debt Settlement Myth #4: Settlement Companies Get Better Deals Because They Have Relationships With Creditors

This is the fourth in a series of posts discussing the most common myths about do-it-yourself debt settlement. The claim that debt settlement companies have relationships with the major creditors is a major part of the sales presentation for traditional settlement programs. I call this the “volume” objection, and of course, it’s total nonsense. The pitch goes something like this: “We are a big company and every day we...

DIY Debt Settlement Myth #3: Only A Skilled Negotiator Can Succeed Against Professional Debt Collectors

This is the third in a series of posts discussing the most common myths about do-it-yourself debt settlement. All too often, I hear consumers say things like, “I’m not a good negotiator,” or “I’m afraid they will bully me.” Since dealing with collection scenarios is new territory for most people, it’s no surprise that people feel this way. This objection is about lack of SELF-CONFIDENCE. People turn to professional...

DIY Debt Settlement Myth #2: I Don’t Have Time to Handle the Project Myself

This is the second in a series of posts discussing the most common myths about do-it-yourself debt settlement. One of the most frequent objections I’ve heard to the idea of handling your own negotiations is that the client is “too busy to handle all the phone calls” involved in obtaining settlements. “I really don’t have time to do this myself,” is a refrain that I’ve heard over and over...

$8.5 Million in Credit Card Debt Settlements by ZipDebt Clients in 2011!

In 2011, clients of my ZipDebt program reported settlements totaling more than $8.5 million of debt, primarily credit card debt balances. Here are the actual statistics: ZipDebt Settlement Results for 2011 Number of settlements reported __568 Debt balances settled __$8,557,873 Amount paid for settlements __$2,752,917 Client savings __$5,804,956 Average account balance __$15,067 Average settlement result __32.2% (balance at time of settlement) To put these figures in perspective, first you...