Monday, October 6, 2014, AM | Leave Comment
It seems that American folks strongly believe in the circulation of money in the economy. Two-thirds of the national economy depends on consumer spending. Whether they realize it or not, that’s the essence of their free spending behavior.
Consequently, Americans have kept themselves deeper and deeper in loads of debt, deliberately or out of necessity.
A vacuum for help got created. Folks needed help desperately. In order to fill the vacuum, some firms from nowhere came forward to help these desperate and vulnerable folks.
Some of these firms’ dealing with needy folks were not entirely based on moral or ethical behavior.
In any case, a burgeoning industry of debt settlement firms was created that is extremely well-lubricated and very well managed I might add. Their marketing and sales tactics have been on the rise. Their sweet sugary talk is at its zenith.
In order for these firms to keep everything under control [read more money by promising relief to debtors], they have legitimized their business and have created the United States Organizations for Bankruptcy Alternatives (USOBA).
These firms work under this umbrella, taking care of, among other things, their potential legal problems, not to mention getting more customers and making more money.
This is a new profession for entrepreneurship. Recession has created miseries in many American financial lives and has thus created the new POD Group.
The age-old adage that one’s loss is another man’s gain fits perfectly well here. Both ends of the spectrum – POD Group and Debt Settlement firms – have flourished exponentially as a by-product of the recession we were in.
To take advantage and build palaces on the POD Group’s miseries and shacks can only be the work of scums and schmucks. They have built lucrative businesses on the foundation of the vulnerability of POD Group who believes their debt cannot be repaired.
So when they see an advertisement in a variety of media, phone calls and email, they imagine seeing light at the end of the tunnel.
In many cases, they ask for help from these firms on the false pretense that their miseries will be over soon.
The firms strengthen these folks’ belief by offering them help in the form of debt settlement. It seems to be “first come, first serve”.
In other words, who[m]ever approaches first, the POD Group accepts their offer without thinking and talking it over with family and friends or do research on their own. And that’s the irony of the whole schmear.
USOBA recently convened in Palm Beach, FL, in the oceanfront confines of the Four Seasons Resort, to forge deals and plot strategy.
At a well-lubricated evening reception, hostesses in skimpy dresses draped leis around the necks of arriving entrepreneurs, some with gold necklaces around their tanned necks.
Word of Hope
There are some legitimate companies that would be able to help you. If you do research online, you see a website that has the extension dot org, it might be legitimate.
Better yet, contact your state’s Attorney General office before you do anything. Check Better Business Bureau against the firm you want to deal with.
According to NY Times Online:
The debt settlement industry can afford some extravagance. The long recession has delivered an abundance of customers – debt-saturated Americans, suffering lost jobs and income, sliding toward bankruptcy.
The settlement companies typically harvest fees reaching 15 to 20 percent of the credit card balances carried by their customers, and they tend to collect upfront, regardless of whether a customer’s debt is actually reduced.
In a Nutshell
Read the last statement in the NY Times piece above again and again. These firms don’t give a f****** shit whether they help the customers or not as long as they fill their own treasure chest.
However, the problem is that many folks are in extremely desperate situation. A little sugar-coated talk is all they need. Some folks will swallow poison pill as long as it is sugar-coated.
NY Times has given some examples of the folks who got screwed. Read the full article: “Peddling Relief, Industry Puts Debtors in a Deeper Hole“.Facebook.com/doable.finance