Mid-western farmers have a history of strength, resiliency and perseverance.  But, with 2012 being the hottest and driest summer for Missouri in 50 years, even the most experienced and prepared crop growers have taken huge, unavoidable financial losses and, for many, the total damage done by the drought is still to be seen.  According to the Missouri Farm Bureau (MFB), there are 8,120 legacy family-farms, which date back 100yrs. or more in Missouri, and many more non-legacy, privately owned farms hoping to create a legacy to last multiple generations as well.  There’s honor and sweat lying alongside crops in the fields of Missouri, but lately there’s been debt and heart-ache lying there as well.

Together, the increasing costs of farming along with the effects of this year’s drought have proven to be detrimental to the financial livelihood of many farms, leaving them on the verge of Bankruptcy.  The federal government has designed Chapter 12 Bankruptcy to be a very viable option, for those left with no other options to turn to.  Chapter 12 Bankruptcy allows farmers- and fisherman- to free up some of their finances to continue their farming by giving farmers extended periods for payment to creditors and, in some cases, collecting the loans and other debts into one lump sum, then reducing that sum to become equivalent to the value of the farm.  Chapter 12 Bankruptcy is complex and it’s critical that any person considering that option seeks counseling from a professional bankruptcy lawyer, but just as critical to any farmer in debt is to seek out other plausible alternatives to bankruptcy such as a credit counseling agency.

While chapter 12 might be the only option left for some, many in large amounts of debt have the option to work with a reputable debt counseling agency such as Personal Credit Solution. Working with an experienced debt and credit counseling agency can provide the debtor with many of the same type of benefits as Chapter 12 provides, but with much more benefits after the debtor is no longer faced with a tremendous amount of debt, such as having a good credit score again instead of a score that’s ruined for up to a decade.  With the right counseling agency alongside them, a debtor will actually begin building their credit back up as they work with their agency to catch up on their debt. While most Bankruptcy lawyers will charge around $300 for counseling session just to begin exploring a debtor’s Bankruptcy options.  A reputable agency such as Personal Credit Solution will counsel the debtor for no cost, and if bankruptcy is really the only option the debtor has left, the counselor will direct the debtor in that direction instead.  Owning a form and acquiring debt to the point that it’s impossible to keep up with can be a truly dire situation, especially with bankruptcy looming, but when working with an agency such as Personal Credit Solution is feasible, an owner can come out of the overwhelming debt even stronger.

                                                        Avoid Credit Counseling Scams

When a person acquires large enough amounts of debt to the point they can’t keep up with their payments and are facing the reality of bankruptcy and losing everything they’ve worked hard for, financially, life can feel as if it couldn’t get any worse.  Unfortunately, there are debt counseling agencies around that are waiting for a consumer to happen upon them with that exact assumption.  They extend their hands with a façade of friendliness and viable solutions in hopes of attracting clients overwhelmed with debt and then use that vulnerable state to take what they can.  They’re nothing new by now to most consumers and if someone hasn’t heard about one of these companies all they would need is a quick search through any given search-engine to find all the cases they could read.   Ironically, a search for fiscal recovery could lead to finding financial ruin.

On the bright side, with all the scamming that has been going on it has become easier to identify the dishonest companies and find the honest ones.  Due to the large number of people who have been scammed and are now speaking out, the media has been drawing its attention to these cases of financial foul play.   News stations across the country such as KSDK Channel 5 in St. Louis have begun tracking down and interviewing dishonest credit counseling agencies as well as honest, reputable agencies like Personal Credit Solution who prove their merit through the company’s practices and their customer satisfaction rate.

Online, people are speaking out about the different companies available to help handle financial woes and burdens.  There are many forums with reviews of experiences with these companies, and before investing in an agency it would be wise to search for these types of reviews.  Even if a search for a particular company’s reviews comes up unfruitful, one could easily post a question up about the said company and most likely get several responses within a couple days to a couple weeks.

Choosing a debt and credit counseling agency is nothing to rush into and every person considering using an agency is best off doing their homework and finding out everything they can about the company/ ies.  Still, there are a lot of different counseling groups out there and even with help from the all the different news reports, narrowing the options down to find an agency that works with you while weeding out the scammers can be overwhelming in itself.  So, here are just a few pieces of advice for finding the right company and staying away from the wrong ones:

• Are you being rushed?  Does a company suggest their program will be a “quick” and “easy” one?  If they are then there is probably a reason they would like everything to just fly right by and you won’t be happy why.
• What will payment consist of?  If you are paying a percentage of the overall debt, even if the company isn’t a scam, how much will you really be saving through them?  Take Personal Credit Solution for example, their payment is only a percentage of the amount they save a costumer.
• What will you leave with after the service is done?  A good counseling agency should not only take care of your present needs, but also make sure you’re well equipped for the future as well.  There not only needs to be a budget set in place to handle the debt a costumer currently has, but the costumer should leave with the knowledge of how to manage their finances and set up a personal, household, or company spending budget.

Why is this potentially a problem for you?

Have you had an honest and completely objective professional analyze your financial situation and thoroughly examine all of the debt relief options available to you? Typically the answer is no because an objective debt relief specialist that is not focused on selling you a specific product or service is pretty difficult to find.

Should You Meet With a Few St Louis Bankruptcy Attorneys?

We are certainly not implying that meeting with a St Louis Bankruptcy Attorney is a bad thing if you think bankruptcy might be a good option for you, however, you should not go into the free consultation with the Bankruptcy Attorney thinking that they are going to spend their time discussing all of the other options available to you. Is it possible to get lucky and find an attorney that is going to spend their free hour telling you about all the other solutions you should explore instead of telling you how their bankruptcy program works and what their fees are? Sure, it is possible, but not very likely.

As in other major cities, Bankruptcy Attorneys in the St Louis area typically bill between 250 to 500 dollars per hour. How many free consultations do you think they want to give away before signing up a client? They only get paid when you file bankruptcy, not when they spend time figuring out if it would be better for you to avoid it.

The world of debt relief can certainly be very confusing especially when consumers don’t know who they can talk to or who they can trust for objective advice. Luckily for consumers in St Louis and surrounding cities, we have created a very consumer friendly business model that actually offers all forms of debt relief under 1 roof. Whether your situation calls for debt settlement, credit counseling, bankruptcy, foreclosure assistance, back tax issues, credit repair, or even just good old fashion budgeting and financial advice, we can offer a customized solution to your situation.

When you contact us at Personal Credit Solution, you don’t have to worry about whether or not we are simply pushing you toward the one solution that we offer even if it might not be the best fit for you. Our business model allows us to offer you a free and surprisingly informative consultation without the need for any bias to make its way into our advice.

At Personal Credit Solution you can speak with a St Louis Bankruptcy Attorney about filing for bankruptcy as well as meet with a counselor to explain any other option that might be available to you. So if you are struggling to keep up on your bills, contact us today and we will put together a customized plan to get you out of debt today.

Personal Credit Solution is not a law firm, and does not provide legal counseling. If PCS believes bankruptcy may be the best solution for you after analyzing your situation, your debt analyst will refer you to an attorney to receive legal counseling.

People often opt for Chapter 13 when

• They are repaying retirement fund loans. This is not allowed in Chapter 7
• Their assets are worth more than the exemptions they have available
• They are behind on house or car payments
• They have liens  larger than the value of the assets that secured their debt
• They owe debts that can not be discharged in a Chapter 7  (marital property settlements, child support) taxes)

Who is eligible for Chapter 13?

In order for someone to be eligible to file for Chapter 13, they must adhere to the following guidelines:

• Be an individual (partnerships and corporations are not allowed to file for Chapter 13)
• Need to have a regular income. This income needs to be greater than your reasonable living expenses
• Their secured debts do not exceed $1,010,650.
• Their unsecured, liquidated debts do not exceed $336,900

Why would I choose Chapter 13?

If you have secured debt, (one good example would be a car loan) that you wish to continue paying off, Chapter 13 may be a better option than Chapter 7. Because you are forced to give up certain liquid assets with Chapter 7 bankruptcy, if you want to keep these assets you would do better filing for Chapter 13.

If you are deciding to file bankruptcy, make sure you speak to an attorney who can help you decide what chapter would best suit your needs.

Personal Credit Solution is not a law firm, and does not provide legal counseling. If PCS believes bankruptcy may be the best solution for you after analyzing your situation, your debt analyst will refer you to an attorney to receive legal counseling.

How does a debt settlement program work?

If someone enrolls in a debt settlement program, they stop making payments directly to the creditors. Instead, monthly payments go to a debt settlement company instead. They accrue your monthly payments in an account for an agreed upon time. Once the account has reached an acceptable number, the debt settlement company starts to negotiate with your creditors.

The company negotiates with a collection agency or creditors; they aim to settle on an amount that is acceptable to both parties. When both parties agree on an acceptable amount, you can pay off the balance in installments or as a lump sum.

Oftentimes this means that a considerable portion of your debt balance is reduced. How much reduction you get is dependent on how much you owe, whom you owe it to, and how efficient the debt settlement company is.

When is debt settlement a good idea?

If you find yourself in any of the circumstances mentioned below, seeking debt settlement programs or services may be beneficial for you:

• You are considering bankruptcy.
• You can start to repay if the debt is reduced
• You are unable to repay your bills
• You are behind on your payments (by at least a few months)
• You have unsecured outstanding balances

 The best thing to do is find a debt settlement company that is licensed and comes highly recommended by others. Ask yourself, why should a company working for you be paid money before you see relief from your debt?

What you can expect

A reputable consumer credit counseling agency will simply help you make sense of things. They will sometimes offer resources, free educational workshops, help prepare a budget, and provide money management advice. The best thing to do is look for a certified credit counselor so you know that they have the required knowledge and have demonstrated this knowledge as well.

The initial counseling session may seem intimidating to most, but it is important to remember that the more you share with your credit counselor, the more they can help you. Even if the first session takes a long time, follow-up sessions may be scheduled if necessary.

A good counselor is going to sit down with you, look over your current financial situation, and come up with a financial plan that is personalized to your situation, and what you are able to afford. Depending on how much money you owe, a credit counselor may recommend that you enter a debt management plan. This means that you pay the agency, and they take care of paying your creditors. Instead of dealing with several creditors and making sure each payment is sent on the right day, the consumer credit counseling agency will take care of the payments for you. Your counselor can also negotiate term extensions, lower interest rates, and late fees with your creditors.

Make sure you find a quality agency

As with everything in life, there are unscrupulous people in the consumer credit counseling business too. Be sure to find a certified agency that does not charge you excessive fees not used to reduce your debt. If you are not careful, signing with the wrong agency may increase your debt rather than decrease it.

Debt Settlement in Ballwin, Missouri, also known as debt arbitration or debt negotiation, is an approach to reduce a client’s debt by negotiating the interest rate and overall credit card balances to accounts that need attention. The program, debt settlement, is essentially an agreement between your debtors and a third party negotiator to reduce your debt by spreading out your payments over an agreed upon term.  

What is the difference between Debt Settlement and Debt Management?

Debt Settlement is often confused with debt management. The difference between the two is debt management (or debt consolidation) is when the consumer makes monthly payments to the debt consolidator, who takes a fee and passes the rest onto creditors.

By doing this, the creditors continue to receive payments each month.  The consumer still makes payments during debt settlement, but the third party negotiator takes its fees for the legal work and the negotiation and payments are also made to creditors over an agreed amount set of time that is feasible for the debtor to make. Debt Settlement programs allow the debtors to pay over a set of time at a reduced amount with reduced interest rates rather than paying the lump sum in whole or having to go to court.  

How do I know if a debt settlement program is right for me?

It is always best to seek the advice of a professional before assuming a particular program is right for you. By inquiring information on what programs are available in your particular financial situation you are better educated to decide which debt relief program is best for you. By contacting PCS Debt Relief you will receive unlimited free consultations with a debt analyst to help you determine what program is best for your current and future financial goals. Call 636-209-4481 to learn more. 

Debt Consolidation is a program that is used when debtors have a large amount of credit cards with outstanding debts on them. By taking out a loan, the debtor will be able to pay off all the other credit card debts. This process not only helps your debts become more manageable but also can have a lower interest rate. More often than not Debt Consolidation involves a secured loan of some sort against your other loans, for instance; your home. Your home serves as collateral, meaning is the loan is not paid off, your home is liable to go into foreclosure or (forced into sale).  By doing this the risk to the lender is reduced and the interest rate on the loan will be lower.  

In some cases, when a Debt Consolidation company sees that a debtor is facing bankruptcy they will buy the loan at a discount. Debt Consolidation does have the ability to negatively affect the consumer discharge debts during bankruptcy– so make sure that before consolidating your debts you are educated on all your debt relief options.

Credit card debt is the main solution for people that are paying off credit card debt on numerous cards. Having many credit cards with large balances is not only stressful, but also carries large interest rates. Again, debtors that have some sort of property whether it is a vehicle or a home can get a lower interest rate through a secured loan; this would include the debtor’s vehicle or home. The debtor’s home or vehicle would serve as collateral if the debts are not repaid.

For more information on Debt Consolidation and other debt relief services, free of charge, call PCS Debt relief today for your free consultation with a debt analyst at 636-209-4481.

Debt Consolidation is often confused with many other debt relief programs such as Debt Negotiation; when in reality it is entirely different. Debt Consolidation is when the debtor or (consumer) takes out a loan in order to pay off many other loans. This is often done to try and lower the interest rate as well as for the convenience of servicing only one loan.

Debt Consolidation is a program that is used when debtors have a large amount of credit cards with outstanding debts on them. By taking out a loan, the debtor will be able to pay off all the other credit card debts. This process not only helps your debts become more manageable but also can have a lower interest rate. More often than not Debt Consolidation involves a secured loan of some sort against your other loans, for instance; your home. Your home serves as collateral, meaning is the loan is not paid off, your home is liable to go into foreclosure or (forced into sale).  By doing this the risk to the lender is reduced and the interest rate on the loan will be lower.  

In some cases, when a Debt Consolidation company sees that a debtor is facing bankruptcy they will buy the loan at a discount. Debt Consolidation does have the ability to negatively affect the consumer discharge debts during bankruptcy– so make sure that before consolidating your debts you are educated on all your debt relief options.

Debt Consolidation is the main solution for people that are paying off credit card debt on numerous cards. Having many credit cards with large balances is not only stressful, but also carries large interest rates. Again, debtors that have some sort of property whether it is a vehicle or a home can get a lower interest rate through a secured loan; this would include the debtor’s vehicle or home. The debtor’s home or vehicle would serve as collateral if the debts are not repaid.

For more information on Debt Consolidation and other debt relief services, free of charge, call PCS Debt Relief today for your free consultation with a debt analyst at 636-209-4481.

Debt settlement is a great program, but only for those who fit the profile for it. Debt Settlement is the
most popular form of debt reduction in the industry today. Rather than signing with a
debt company that will make you unrealistic promises that cannot be fulfilled, it is smart
to do research on these companies as well as the debt programs that they offer. By doing this, you can sign up with a dependable, credible company that will provide a variety of debt relief programs
for you and work with you to determine what the right program for your specific situation is.               Knowing a little bit about each individual program before you consult an outside company will help prevent you from being scammed in the long run.

The bright side is, there is debt help in Missouri available to you, and there are companies that offer
an assortment of solutions under one roof. PCS Debt Relief is a leader in the
debt relief industry of Missouri, with a reputable background and a 100% success rate with clients completing their programs.

While PCS Debt Relief offers no up-front fees, free consultations, and counsels on all programs
prior to signing, everyone should be aware there is no magic wand to wish away debt; it
just doesn’t work that way. With any program in getting out of debt, a lot of hard work
is involved, especially if you are carrying a high debt load with little income. Personal
Credit Solution will be there every step of the way to help, support, and guide you to a
life free of debt.

Debt settlement is a great program, but only for those who fit the profile for it. Debt Settlement is the most popular form of debt reduction in the industry today. Rather than signing with a debt company that will make you unrealistic promises that cannot be fulfilled, it is smart to do research on these companies as well as the debt programs that they offer. By doing this, you can sign up with a dependable, credible company that will provide a variety of debt relief programs for you and work with you to determine what the right program for your specific situation is. Knowing a little bit about each individual program before you consult an outside company will help prevent you from being scammed in the long run.

The bright side is, there is debt help in Missouri available to you, and there are companies that offer an assortment of solutions under one roof. PCS Debt Relief is a leader in the debt relief industry of Missouri, with a reputable background and a 100% success rate with clients completing their programs.

While PCS Debt Relief offers no up-front fees, free consultations, and counsels on all programs prior to signing, everyone should be aware there is no magic wand to wish away debt; it just doesn’t work that way. With any program in getting out of debt, a lot of hard work is involved, especially if you are carrying a high debt load with little income. Personal
Credit Solution will be there every step of the way to help, support, and guide you to a life free of debt.