Get out of credit card debt fast, cheap, and without a loan. Our debt services can reduce your individual credit card debt by as much as 40-60% and help you get out of debt in 12-30 months!
Debt Consolidation in Nebraska
(Note: this is for educational purposes only, and although efforts have been made to keep this up to date and correct, there are no guarantees about the accuracy of anything contained below. It should not be construed as legal advice. For legal advice, please consult with an attorney licensed in Nebraska.)
As many Nebraska residents can attest to, there has been a significant rise in debt consolidation agencies and consumer credit counseling programs being advertised on television, radio, and online. Despite the prevalence of debt management in our media, there is a great deal of public misconception about how debt relief works. Even worse, a surprisingly low number of consumers understand how to differentiate the best debt help companies from the worst. The purpose of PayingPaul.Com is to educate consumers so they can make better financial decisions when it comes to their debt.
For starters, there are generally two types of debt consolidation services that a consumer can choose from. Credit counseling is a service for helping consumers with budgeting and managing their finances. If your situation permits, you may want to consider a debt management plan, which is a consolidation program offered by credit counselors. These plans can help you combine your credit cards into one payment and lower your interest rates. Many of the organizations offering this type of debt program are non for profit, although most do charge fees. Before choosing this route, however, consider the downsides and risks, such as whether it is even affordable and the effect that it may have on your creditworthiness in the eyes of lenders.
The second popular form of debt consolidation is credit card settlement. Also known as debt negotiation, these services aim to reduce your actual balance owed, not just interest charges. The reason why creditors are willing to do this is some cases is because they are worried that a consumer may not be able to pay the full back debt as is. In order to prove that you are in this financial condition, one must be delinquent on their credit card accounts. Due to this and the fact that your account will read as ”settled” on your credit report, settlement typically has a negative effect on your credit report. Some other things to consider: due to the fact that you are past due during the course of the program, you will experience collection calls and creditors are reserved the right to pursue legal action on the debt.
Would you like to speak with someone about how to get out of debt? Submit a form and PayingPaul.Com will match you with a company for a free consultation!
Nebraska Debt Management Laws
Nebraska has regulations in place to ensure that residents in the state are not only receiving debt management services that are affordable, but also of a decent quality. Much of the laws that deal with the consolidation industry are pertaining to fees, insurance requirements and other issues. Nebraska law defines debt management as the “planning and management of the financial affairs of a debtor for a fee from the debtor and the receiving there from of money or evidences thereof for the purpose of distributing the same to his or her creditors in payment or partial payment of his or her obligations.”
It should be noted that the regulations exempt the following entities, among others, from regulation:
-attorneys
-banks
-title insurers and abstract companies while doing escrow business
-anyone acting under a court order
The fee limits that are outlined by the regulations requires that debt management companies abide by the following:
-the total fees cannot exceed 15% of the amount the debtor agrees to be paid through the debt counseling agency
-$25 as an initial set up fee
*Note: contracts are not in effect until after the debtor has made a payment to the debt management company for distribution to his or her creditors.
If you want more information about debt consolidation and consumer credit counseling, please follow this link: (Warning: PDF) http://www.sos.ne.gov/business/pdf/debt_mngt_statutes.pdf
Licensed Debt Consolidation Agencies
Acredex Credit Counseling
Help Ministries Debt Free
Take Charge America
Consumers Alliance Processing Corp
Springboard Non Profit Credit Counseling & Debt Management & Consolidation
Debt Free America
CCCS of San Francisco
CCCS Midwest – Consumer Credit Counseling Services
American Credit Counselors
American Debt Solutions
Credit Guard of America
National Foundation for Debt Management - NFDM
Debt Management Counseling Center
Consolidated Credit Counseling Services
InCharge Debt Solutions
Family Credit Counseling
Care One Credit Counseling & Debt Consolidation
American Consumer Credit Counseling
GreenPath Debt Solutions
Alliance Credit Counseling
Consumer Education Services
Credit Advisors Foundation
NovaDebt Credit Counseling & Debt Consolidation
Family Life Services
Money Management International – Consumer Credit Counseling Services CCCS
ClearPoint Financial Solutions
Safe Harbour Consumer Credit Counseling Services * Debt Management
American Financial Solutions
Family Financial Education Foundation
Pioneer Credit Counseling & Debt Consolidation
Consumer Credit Counseling of Nebraska
Creditability Credit Counseling, Repair & Debt Consolidation
Stratix Financial Group
T & S Mortgage
The Master Plan’s Financial Counselors, LLC
Other Resources
Filing Bankruptcy in Nebraska
Bankruptcy Laws in Nebraska
Debt Collection in Nebraska
As many Nebraska residents can attest to, there has been a significant rise in debt consolidation agencies and consumer credit counseling programs being advertised on television, radio, and online. Despite the prevalence of debt management in our media, there is a great deal of public misconception about how debt relief works. Even worse, a surprisingly low number of consumers understand how to differentiate the best debt help companies from the worst. The purpose of PayingPaul.Com is to educate consumers so they can make better financial decisions when it comes to their debt.
For starters, there are generally two types of debt consolidation services that a consumer can choose from. Credit counseling is a service for helping consumers with budgeting and managing their finances. If your situation permits, you may want to consider a debt management plan, which is a consolidation program offered by credit counselors. These plans can help you combine your credit cards into one payment and lower your interest rates. Many of the organizations offering this type of debt program are non for profit, although most do charge fees. Before choosing this route, however, consider the downsides and risks, such as whether it is even affordable and the effect that it may have on your creditworthiness in the eyes of lenders.
The second popular form of debt consolidation is credit card settlement. Also known as debt negotiation, these services aim to reduce your actual balance owed, not just interest charges. The reason why creditors are willing to do this is some cases is because they are worried that a consumer may not be able to pay the full back debt as is. In order to prove that you are in this financial condition, one must be delinquent on their credit card accounts. Due to this and the fact that your account will read as ”settled” on your credit report, settlement typically has a negative effect on your credit report. Some other things to consider: due to the fact that you are past due during the course of the program, you will experience collection calls and creditors are reserved the right to pursue legal action on the debt.
Would you like to speak with someone about how to get out of debt? Submit a form and PayingPaul.Com will match you with a company for a free consultation!
Nebraska Debt Management Laws
Nebraska has regulations in place to ensure that residents in the state are not only receiving debt management services that are affordable, but also of a decent quality. Much of the laws that deal with the consolidation industry are pertaining to fees, insurance requirements and other issues. Nebraska law defines debt management as the “planning and management of the financial affairs of a debtor for a fee from the debtor and the receiving there from of money or evidences thereof for the purpose of distributing the same to his or her creditors in payment or partial payment of his or her obligations.”
It should be noted that the regulations exempt the following entities, among others, from regulation:
-attorneys
-banks
-title insurers and abstract companies while doing escrow business
-anyone acting under a court order
The fee limits that are outlined by the regulations requires that debt management companies abide by the following:
-the total fees cannot exceed 15% of the amount the debtor agrees to be paid through the debt counseling agency
-$25 as an initial set up fee
*Note: contracts are not in effect until after the debtor has made a payment to the debt management company for distribution to his or her creditors.
If you want more information about debt consolidation and consumer credit counseling, please follow this link: (Warning: PDF) http://www.sos.ne.gov/business/pdf/debt_mngt_statutes.pdf
Licensed Debt Consolidation Agencies
Acredex Credit Counseling
Help Ministries Debt Free
Take Charge America
Consumers Alliance Processing Corp
Springboard Non Profit Credit Counseling & Debt Management & Consolidation
Debt Free America
CCCS of San Francisco
CCCS Midwest – Consumer Credit Counseling Services
American Credit Counselors
American Debt Solutions
Credit Guard of America
National Foundation for Debt Management - NFDM
Debt Management Counseling Center
Consolidated Credit Counseling Services
InCharge Debt Solutions
Family Credit Counseling
Care One Credit Counseling & Debt Consolidation
American Consumer Credit Counseling
GreenPath Debt Solutions
Alliance Credit Counseling
Consumer Education Services
Credit Advisors Foundation
NovaDebt Credit Counseling & Debt Consolidation
Family Life Services
Money Management International – Consumer Credit Counseling Services CCCS
ClearPoint Financial Solutions
Safe Harbour Consumer Credit Counseling Services * Debt Management
American Financial Solutions
Family Financial Education Foundation
Pioneer Credit Counseling & Debt Consolidation
Consumer Credit Counseling of Nebraska
Creditability Credit Counseling, Repair & Debt Consolidation
Stratix Financial Group
T & S Mortgage
The Master Plan’s Financial Counselors, LLC
Other Resources
Filing Bankruptcy in Nebraska
Bankruptcy Laws in Nebraska
Debt Collection in Nebraska