February is oftenthe month of reckoning for people losing their grip on credit card debt: YourJanuary bill may be bloated with holiday spending, debt realitiesignored during the holidays re-emerge, and the new year has brought a chancefor a fresh financial start.
Read from orginal source…

http://www.foxbusiness.com/personal-finance/2011/02/04/options-dealing-february-financial-freak/

Debt Management

Debt Management

General manager, operations, Azman Hasim said the agency expected the number of people attending its debt counselling and debt management programmes to stabilise this year.

The number of people seeking its counselling surged in 2009 and 2008 due to the global financial crisis.

“More people now are becoming aware of the importance of financial literacy.

“Since its inception about five years ago, the agency has educated the public on the importance of sound financial planning and management and this has, to a certain extent, improved the debt situation among the people,” he told a briefing in conjunction with the agency’s first “Power! Pengurusan Wang Ringgit Anda” roadshow here.

The agency is a wholly-owned subsidiary of Bank Negara set up to provide counselling and debt management to help individuals take control of their financial situation.

To date, 140,462 individuals have attended its counselling sessions. Of those, 52,947 also attended its debt management programmes, which are provided to those who, after being counselled, are still unable to manage their debts.

According to Azman, through the 52,947 individuals, the agency has assisted in the restructuring of loans worth RM5bil.

Last year, the number of people seeking its counselling totalled 30,010, of which 15,603 also attended its debt management programmes, compared with 36,848 and 16,184 respectively in 2009.

In 2008, the figure was higher, with 41,447 attending its counselling, of which 11,958 went through debt management programmes.

Malaysia recorded RM577bil in household debt as at November 2010, accounting for about 50% of total loans and 74% of gross domestic product.

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz recently said the current household debt was seen as prudent and not a concern because the bad loans were still low and there were various ways to keep them in check.

On the Power Programme, Azman said the first roadshow was well received, with about 200 participants attending it.

Similar roadshows will be held in Penang, Malacca, Johor Baru, Kota Kinabalu, Kuching and Terengganu soon.

The programme is designed to equip young individuals and new borrowers with practical knowledge and skills to help them make sound financial decisions.

— ”s site,
: – .

Read from orginal source…

http://biz.thestar.com.my/news/story.asp?file=/2011/2/10/business/8033802&sec=business

Debt Management

Most debt consolidation companies do nothing better than simply ruin your fico score in order to settle your debt. If you really want to work with an agency that will help you reduce your debt, contact a company member of “CONSUMER CREDIT COUNSELING SERVICES” (CCCS) More info at: sccrealestateuncensored.com/2008/repair-credit-legally-remove-negative-accounts/ micasamidinero.com/2008/reparo-credito-eliminando-legalmente-cuentas-negativas/
Video Rating: 4 / 5

Debt Management

By Phil Kemp The Report, BBC Radio 4

The Office of Fair Trading (OFT) has warned consumers and local authorities about “lookalike” debt help websites.

They say some confused consumers may think they are dealing with charities offering free advice.

Some councils in England have mistakenly promoted a fee-charging debt management service, DebtFreeHelpline, instead of charity National Debtline.

DebtFreeHelpline said it had not been misleading about charges but was in the process of changing its trading name.

The OFT’s Ray Watson says that is one example among many it had found of lookalike websites.

Mr Watson, the OFT’s Director of Consumer Credit, says there is evidence of “people using names to suggest, for example, that they were the Citizens Advice Bureau.

“We don’t accept that behaviour and we will take action against businesses that do that.”

After a BBC investigation all but one of those contacted removed weblinks to DebtFreeHelpline.

Typing ‘National Debtline’ into a search engine in early February returned www.debtfreehelpline.co.uk as one of the first results in a list of ads.

But while National Debtline is a charity offering free advice to people in debt, DebtFreeHelpline charges a fee for setting up debt management plans.

‘Take action’

The OFT has warned about websites likely to be confused with official or charity sites.

An investigation for BBC Radio 4′s The Report found several local authorities and other public bodies had mistakenly published DebtFreeHelpline’s web address instead of that of National Debtline.

Harrogate, Southend, Westminster, Bournemouth and Mid Devon councils had all promoted the wrong website, as had Broxbourne Housing Association and Oxford Radcliffe Hospitals NHS Trust.

‘Misleading’

National Debtline’s Chief Executive, Joanna Elson said she thought some of DebtFreeHelpline’s claims were misleading.

“I certainly am concerned about the statement ‘expert and independent advice is available’ because I’m just wondering how it can be independent when actually this is a company that’s trying to sell debt solutions,” she said.

DebtFreeHelpline said it was “independent” from creditors or debt collection agencies but, while not accepting that the term was misleading, it had removed it from its website.

National Debtline say it is not the first time web users searching for their service have been confused by fee-charging companies using similar names.

“We refer them to the Office of Fair Trading every time and some of them have been closed down by the OFT,” said Joanna Elson.

“But if you talk to people at the OFT they will say they simply haven’t got the resources to keep on top of them the whole time.”

Errors corrected

Ray Watson from the Office of Fair Trading said he would investigate the DebtFreeHelpline case but admitted the internet was challenging to monitor.

“We took action in the last fortnight against another one that actually used ‘helpline’ in its title,” he said.

“There are a whole range of things out there and we don’t have endless resource so we have to target where we think we can have the most impact.”

All but one of the councils and public bodies the BBC contacted, who carried the incorrect web address, apologised for their error and removed the incorrect web address.

Mid-Devon council did not remove the web address, stating that DebtFreeHelpline “offer initial advice on debt free of charge. If somebody then wishes to go further and avail themselves of a paid-for service, that is their decision”.

DebtFreeHelpline said they had also contacted local authorities to point out the error.

In a statement they said:

“We are in the process of changing our trading name, which is a step we are taking despite the absence of any client complaints.”

Government spending cuts mean that organisations that give free debt advice, like the Citizens Advice Bureau, are coming under pressure just as demand is rising due to the economic climate.

As Simon Gompertz reported, 500 specialist debt advisers across England and Wales have stopped taking on new cases, after the government said it would axe financial support provided through the Financial Inclusion Fund.

The Report is on BBC Radio 4 on Thursday 10 February at 2000 GMT. Or listen via the BBC iPlayer, or download the podcast.

This entry passed through the Full-Text RSS service — ”s site, please read our FAQ page at /content-only/faq.php
Five Filters featured article: – .

Debt Management – Yahoo! News Search Results

Debt Management

Debt Management