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Rockville Advisors Get Bad Review For Credit Card Consolidation



Rockville Advisors Credit Card Consolidation

Who Is Rockville Advisors and Can They Be Trusted For Credit Card Consolidation?

Credit Card Consolidation with Rockville Advisors? Not the greatest idea!

Why has Rockville Advisors been flooding the market with different types of debt relief and credit card consolidation offers in the mail? The problem is that the terms and conditions are at the very least confusing, and possibly even suspect. The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2021 Reviews the personal finance review site, has been following Rockville Advisors and a bunch of other websites connected to this organization.

Credit Card Scam Rockville Advisors

Gone are the days when you’d rely on traditional repayment methods to eliminate your credit card type of debt and high debt ratios. New ways have been introduced that not only allow you to get rid of your entire debt but do so in relatively shorter periods. One tremendous solution is to consolidate your debt. More and more Americans wish to improve their financial health and are considering this option.

However, few people realize that credit card consolidation doesn’t suit every financial situation for every customer. Among the three consolidation options we’ll talk about, different methods will work for different people in different situations. Hence, users must know the correct way to make the most out of credit card consolidation. But before we go into the misconceptions people make, let’s understand what credit card debt consolidation is all about.

What is Credit Card Consolidation?

Consolidating your credit cards is an efficient way to eliminate your overall debt. It involves combining the balances of all your credit cards into a single account to eliminate or reduce the interest charged on them. With reduced interest, you can use more of your money to repay the balances, allowing you to get rid of your credit card debt faster.

Here are three main options for credit card consolidation:

Credit Card Balance Transfer

This method allows you to move your existing credit card balances to a totally new credit card account called a balance transfer credit card. What’s special about this card is that it comes with a 0% APR introductory rate that applies for a limited time period. You can easily pay off debt within this time-frame without having to pay any interest.

Debt Management Program

The debt management program requires you to hire a certified credit counselor who helps you devise an affordable repayment plan. Once a repayment plan has been set up, your counselor presents it to your creditors, negotiating the interest rates payable.

Debt Consolidation Loan

This technique involves obtaining a low-interest, unsecured personal loan with average credit and use it to repay your credit card balances. This leaves you with just a low-interest loan to repay. In other words, you got a reduction in interest payable on debt.

Things to Look Out for in Credit Card Consolidation

While the above-mentioned debt consolidation vs credit card refinancing methods seems straightforward, you need to be particularly cautious as you go ahead with any of these options. Let’s explore some common mistakes and things to look out for when consolidating your credit cards:

1. Making New Charges to Your Credit Cards

The most common mistake people make when considering credit card consolidation is that they continue to make new credit card charges after consolidation. It’s true that it gets even more tempting to make new charges when you’ve zeroed all your credit card balances, but making new charges kills the entire purpose of debt consolidation. It’s like taking two steps forward and then one step backward.

Once you’ve decided to eliminate debt, stay firm and stop making new charges, which only makes it difficult to achieve your goal. Setting up a household budget might be helpful so that you can cover all your expenditures from your income and stop relying on your credit cards.

2.   Accepting High Consolidation Fees

Credit card consolidation usually requires some fee, which can’t be avoided. However, beware of outrageously high consolidation costs, which will only make debt elimination more difficult. No matter what, you shouldn’t make your debt repayment journey any steeper than required.

It is important to know that while balance transfer credit cards can exploit you with a high fee, the debt management program pathway is much safer as their fee is regulated by the state, making sure that you don’t end up making extra payments.

3.     Losing Hope Halfway Through

After comparing credit card refinancing vs debt consolidation, people are often excited to have finally found a solution to get rid of the credit card debt. As they restrict themselves to a budget for some time, they begin losing all the interest and gradually resort back to their bad spending habits. This is often true for those choosing the debt management program, the enrollment for which is totally voluntary. Many clients drop off after around six months. They should know that their creditors will not only restore the original interest rates but may also charge penalties.

You need to know that debt consolidation is not a one-step solution. You need to be consistent with your spending cuts. Ideally, you should find a solution that will eliminate debt in the shortest time period possible. Any period of more than 5 years is too long to stick to. Finally, once you’ve opted for a solution, don’t drop until the end.

4.     Using Secured Debt to Pay off an Unsecured Debt

Credit cards are typically unsecured debt, which means you don’t need to offer security or collateral to protect the lender in case you default. An unsecured debt, on the other hand, like a mortgage, requires collateral such as your home.

Oftentimes, people think it’s a good idea to take out of loan to pay off credit card balances, not knowing that this converts their unsecured debt into secured debt. In case of default, you risk your property taken away to pay for it.

No matter how difficult things are, never convert unsecured credit card debt into secured debt. It’s simply not worth it to tap your home’s equity to repay your credit card balances. Look for other unsecured debt options for credit card debt consolidation.

Debt cloud hangs over Trump post-presidency

Key Takeaways

While consolidating your credit card debt is an incredible way to quickly get rid of your high-interest loans, it is only valuable if you know exactly how to go about it. If you fail to use it correctly, your financial situation may even get worse.

Zeus is the god of the sky, lightning and the thunder in Ancient Greek religion and legends, and ruler of all the gods on Mount Olympus. Zeus is the sixth child of Cronos and Rhea, king and queen of the Titans. His father, Cronos, swallowed his children as soon as they were born for fear of a prophecy which foretold that one of them would overthrow him. When Zeus was born, Rhea hid him in a cave on Mount Ida in Crete, giving Cronos a stone wrapped in swaddling clothes to swallow instead. When Zeus was older he went to free his brothers and sisters; together with their allies, the Hekatonkheires and the Elder Cyclopes, Zeus and his siblings fought against the Titans in a ten-year war known as the Titanomachy. At the end of the war, Zeus took Cronos' scythe and cut him into pieces, throwing his remains into Tartarus. He then became the king of gods.

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Gulf Street Advisors Gets Bad Review For Financial Advice For Debt Consolidation




Gulf Street Advisors Bad Financial Advice

Do Gulf Street Advisors’ Debt Consolidation Sales Associates Give Good Financial Advice?

Why has Gulf Street Advisors been giving poor financial advice and flooding the market with different types of credit card debt relief and credit card consolidation offers in the mail? The problem is that the terms and conditions that Gulf Street Advisors offer are at the very least confusing, and possibly even suspect. The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2021 Reviews, the personal finance review site has been following Gulf Street Advisors and a bunch of other websites connected to this organization.

Don't Take Financial Advice From Gulf Street Advisors

A career as a financial advisor is typified by a huge income and growth potential as well as bouts of instability. The earning potential is heightened by the demand for solid financial advice and the need to ease financial stress. According to Investopedia, the financial advising field is slated to grow at the rate of 15% in the ongoing decade leading to 2024. Aside from unlimited income potential, the other benefits of choosing the career include the opportunity to offer meaningful advice and a flexible work schedule.

Pros and Cons of Giving Financial Advice

Clients often look for professional financial advice to obtain meaningful advice on pertinent issues like investment decisions and debt management. Due to their educational background and experience, financial advisors can easily handle matters to do with investment options, retirement, and business risk. When it comes to earning potential, the availability of numerous financial instruments and rapid industry growth has made it possible for experienced advisors to earn more money.

Clients can pay for services through commission and fee-based payment plan. Financial advisors also enjoy flexible work schedules. The setup creates a perfect opportunity to work without sacrificing the joys of life. Professionals that give financial advice also face several challenges in the line of work, i.e. stressful engagement and stiff compliance regulations. Due to changing market dynamics, advisors should push for continuous prospecting as part of the learning curve.

Independent advising

Giving independent financial advice forms a growing segment of the financial services experts. The market segment is worth trillions of dollars, and the prospects for future growth remain very bright. Independent advisory firm, Gulf Street Advisors offers personalized guidance to individual and corporate clients with basic and complex financial needs such as debt consolidation and cash-flow problems.

Customers who choose a legitimate financial advisory company over competitors also enjoy transparent fee structure and customized guidance. The success of the firm stems from cultivating a deep, longstanding relationship with clients.

Mistakes by financial advisors can prove very costly to clients and the firm issuing the advice. This can easily happen if insufficient thought and safeguards are not put in place. According to the USA Today owned Spectrum Magazine, the most common mistakes financial advisors make include:

1. Telling clients they can beat the market

Operating in a free market can be risky because of the fluid market situation. The market broadly encompasses stock, bonds, commodities trading, and other financial and investment indexes. Due to the volatile depiction of the free market, financial advisors need to be careful about promising clients a guaranteed return when conducting a sales pitch.

2. Failure to figure out what the client really wants

Many financial advisors make the mistake of focusing too much on their own returns. The focus is usually trained on striking it big to save for retirement and live a happy lifestyle. In their push, the advisors may be tempted to place a client’s whole life savings in a volatile account thereby jeopardizing the investment and trust. It is important for financial advisors to acknowledge that clients hire them precisely because they need sound financial advice and nothing less.

3. Overlooking the client’s risk tolerance level

Young financial advisors are better adept at handling personal financial challenges and market volatility. Due to factors like age variability, work experience, and industry exposure, clients may have a different risk comfort or tolerance level compared to financial advisors. When advising older or retired wealthy clients, financial advisors can create a good rapport by making investment-defining decisions that are guided by the client’s risk comfort level.

4. Selling investment unwisely

Financial advisors need to follow due diligence when selling investment options. This is important because clients may not be fully aware of everything in their investment portfolio or events shaping the market. The trust bestowed on financial advisors by clients is sufficient reason to practice fiduciary and other desirable money management accountabilities.

5. Making decisions with communicating with clients

Communication is crucial before executing any business deal. Failure to get in touch with clients can pose serious problems to advisors looking to make far-reaching financial decisions. As a best practice, advisors should consider issuing a detailed questionnaire to capture any late changes to the prospects or client’s investment plan and relationship.

6. Operating without the required industry certifications

Advisors who are already making tidy sums may have second thoughts about acquiring crucial industry certifications such as the CFR certification. To serve clients better, financial advisors need to constantly upgrade their education and competence. Professionals with additional training often enjoy better pay and are better placed to expand their advising role.

The Don’t to consider when hiring a financial advisor

Clients, on their part, should be careful about hiring financial advisors that are not up to the task. According to small business intelligence site All Business, clients can avoid the pitfalls by doing the following:

• Checking the financial advisor’s professional background and references

• Asking the right probing questions

• Not overly relying on company blueprints that don’t give you a clue on what to expect.

The analysis of the professional background and reference will reveal the advisor’s professional credentials and level of competence. All these elements are also important because they add up to fomenting trust and build long-term relationship between the client and advisor.

There are many self-believers who have no problem executing mundane projects like home improvement, swimming pool installation, and car repair. However, the ability to overcome these challenges single-handedly has made most do-it-yourselfers reluctant when it comes to hiring experts like financial advisors.

The same cannot be said when circumventing complex issues like wealth management, corporate taxation and legal proceedings. You can always trust a financial advisor to offer sanctioned advice on complex financial issues bereft of emotions and biased inclinations.

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Will Brice Capital Add To Your Financial Stress?




Brice Capital Debt Consolidation Financial Stress

Will Brice Capital’s Debt Offer Add To Your Financial Stress?

Brice Capital is under review by Crixeo, the popular news and reviews site, for being a potential bait and switch trap and cause of financial stress. According to Crixeo journalist, Ed Miles:

Brice Capital is the newest bait and switch trap brought to you by none other than the same devil that brought you Sooner Partners and Old Dominion Associates…”

Brice Capital Financial Stress
Credit: Cookie Studio

Avoid Financial Stress

According to a recent survey conducted by the American Psychological Association (APA), 60% of Americans admitted that worrying about finances is the biggest source of stress in their daily lives. The study found that the cost of health care was the top cause of this financial stress.

Arguably, money is the biggest reason why most Americans feel stressed out. Be it accommodation, health, education, career, all of these aspects of life are closely tied to money.  

Another survey found that as many as 68% of American respondents stress over their financial situations. The most common cause of stress, found by this study, was debt. Almost 71% of the survey participants said that debt was a significant contributor to their stress. 

Although financial stress is a very serious problem, there are ways to deal with it. If you’ve been struggling with managing your stress due to finances, we’re here to help you out.

By incorporating a few positive changes and tips in your life, you can manage your finances in a way that doesn’t stress you out. Check out the following tips to reduce financial stress.

1.   Stick to a budget

It may sound obvious at first, but sticking to a budget can be challenging. However, that’s the only way you can manage your financial health. If you make a budget that covers all your costs and saves you some amount for your emergency fund, you’ll slowly start feeling relieved.

Sticking to a budget requires discipline. You’ll have to prioritize your essential expenses over others. Staying away from luxuries and non-essential expenses will keep you away from unnecessary stress.

Creating a budget can be as simple as laying out your expenses on a spreadsheet. You can also use budgeting apps and software to keep you on track with your goals.

Creating an emergency fund is also essential. However, you’ll need to pay off your debt faster to spare any money for savings. 

Sticking to a budget sounds simple enough, but it’s harder to actually do it. Unexpected expenses set you back the most such as medical bills, childcare, loss of income, etc. That’s why having some extra money to tap into will relieve you of the immense financial stress.

2.   Forgive your past mistakes

Avoidance coping is a coping mechanism adopted by most people who deal with stress. They start avoiding the problems so that they don’t have to deal with them. It’s a very critical problem because it prevents you from pursuing your goals. It leads to procrastination and agitation, which causes you to fall into further financial distress.

When it comes to financial stress, the reason may not always just be money. Sometimes, your past actions and mistakes make you feel guilty and keep you from progressing. Whenever you feel that way, you must remind yourself that you’re not alone in this. Millions of people deal with stress over financial problems.

In order to get better, you first need to deal with all the past mistakes that are holding you back. You need to forgive yourself for whatever happened in the past. That’s the only way to secure a better future. You can take ownership of your actions now and make better decisions to avoid future debt relief emergencies.

Several studies have revealed that people who successfully manage their stress have compassion for themselves. It’s about time you take it easy on yourself and start taking small steps to reach your big goals.  

3.   Seek assistance

When something starts holding you back, it’s always a good idea to ask for help. You don’t need to go through the financial stress all on your own. There are several organizations that offer free financial counseling.

National Foundation for Credit Counseling is one such non-profit organization that can help you figure out your financial troubles. They have experienced financial counselors and advocates who can closely assist you in dealing with credit card debt, mortgages, student loans, etc.

Apart from finances, you should also consider seeking emotional support. Talk to your friends and family. Emotional support makes a lot of difference in dealing with financial stress. Find your safe space and let it push you through tough times.

4.   Manage your debt

If eliminating debt seems far-fetched, then there are several methods to manage your debt. Debt consolidation is one such excellent method. If you have credit card debt or any other bills, it becomes difficult to keep track of all your debts and their associated terms. Consolidating debt simplifies the process for you.

Taking out a personal loan to consolidate your debt is what we would recommend the most. It usually has lower interest rates and fixed terms, which saves you from the uncertainty that comes with other loans. With a personal loan, you’ll know the exact amount that you have to pay each month and for how long. This reduces the anxiety of figuring out debt.

Debt consolidation with personal loans offers predictability and a sense of certainty, which can help you with financial stress. Moreover, you even have a chance of paying off your debt quicker.

5.   Take it easy

Your life doesn’t have to revolve around money and debt all the time. Using relaxation techniques can help you lower your financial stress, and many of them don’t require any money.

Whenever you feel that you’re getting stressed, close your eyes, and do deep breathing exercises for a few minutes. Something as simple as that can help keep your blood pressure and stress in control. Keeping a warm towel around your neck is another technique of decompressing.

Activities like a walk in the park and spending time with your loved ones can go a long way in keeping you healthy and stress-free.    


Money affects our lives, both financially and psychologically. Although it’s important to maintain a stable financial position, your health must be your top priority. By incorporating the tips discussed above, you can successfully deal with financial stress.

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Old Dominion Associates Hurts Those With High Debt Ratios




Debt Ratio Old Dominion Associates

Can Old Dominion Associates Help Borrowers With High Debt Ratios?

Old Dominion Associates can’t help you with your high debt ratios. Old Dominion Associates is under review by Best 2021 Reviews, the popular news and reviews site, for being part of a long-running debt scam.

Old Dominion Associates is connected to Harrison Funding, Johnson Funding, Taft Financial, Georgetown Funding, Patriot Funding, Memphis Associates, Tate Advisors, Plymouth Associates, Safe Path Advisors, Silvertail Associates, Malloy Lending, Polo Funding,  Dune Ventures, Braidwood Capital, Nickel Advisors, Neon Funding, Polk Partners, Hornet Partners, Ladder Advisors, Hornet Partners, Jayhawk Advisors, Corey Advisors, Clay Advisors, Lyle Advisors, etc. Generally, they engage consumers through direct mail, cold calling and internet ads. Generally, they market to consumers with less than perfect credit and offer them low interest rates to consolidate debt.”

Old Dominion Associates Loan Scam

The Rise in US Household Debt Ratios

Debt ratios help you to determine the health of the economy and the average debt that households owe. Key among these is the debt-to-income ratio, which enables us to understand the financial standing of families in America. Calculating this debt ratio is simple. You can compute this debt ratio simply by dividing the monthly debt payment by the total monthly income.

For instance, if your monthly debt payment amount stands at $6,000, whereas your monthly income is $10,000, then your debt to income ratio is 60%. This is a high debt-to-income ratio and it shows that you need to work out your monthly income and expenses for servicing your debts in a better and faster way.

Hence, debt ratios indicate your financial state. This is important for other reasons as well. If you want to get a loan then depending on your lender, you will need a debt ratio under a certain amount. If your debt to income ratio is below this amount then you can qualify for the loan. But if your debt ratio is above or equal to this threshold, then you will not qualify.

Debt Ratio Limits

For instance, if you want to take out a mortgage, then your debt ratio needs to be under 40% for most lenders. Financial advisors recommend a debt ratio of well under 30% for healthier finances. If your debt ratio is too high then you might face the trouble of all sorts. If you choose to pay your entire monthly dues (for which you don’t really have a choice, to begin with) then you may have too little remaining for your necessities and leisure when your debt ratio is too high.

If you fall back on your monthly dues and cannot pay the full amount, then you will face all sorts of problems including lowered credit scores, lawsuits, and being susceptible to loan scams.

Debt Ratios Increasing

Debt ratios along with the financial stress of American households have sadly increased over the decades. If you look at the Federal Reserve data, then there was a slow but steady increase in debt ratio starting from the 80s. Just before the housing market collapse that triggered the financial meltdown of 2008, there was a steep rise in debt ratios. This goes to show how critical debt ratios are for the health of the economy. If households, businesses, and other entities have debt ratios and credit card bills that are too high, then this can possibly trigger financial catastrophes as the nation painfully learned in the aftermath of the 2008 crisis.

Following the financial crisis of 2008, there was a sharp downturn in debt ratios for American households. One important reason for this is that many declared bankruptcy. Another reason for this is that households became more cautious of borrowing large amounts and thus started borrowing less due to which the debt ratios plummeted.

Overall, debt ratios have skyrocketed since the turn of the century. The US Census Bureau shows that in 2000, the median debt was almost $51,000. But now the median debt for American households now stands at a staggering $137,000. The debt amount has more than doubled. The trouble is that median household income during the same period saw a rise of only $20,000. In 2018, the median household income was $61,372. Hence, the debt ratio has outpaced the rate of income growth. The troubling rise in debt ratios indicates that Americans are borrowing at a much faster rate and may find it harder to keep up with repayments.

Debt Ratios Among Various Households

Debt ratios can also vary according to family types. Married couples usually carry less debt than singles. TD Ameritrade carried out a study in 2017 showing that just 29 percent of singles consider themselves to be financially secure compared to 43 percent of married couples.

Married people also earn more on average than singles. A married person on average earns around $61,500 each year while a single person on average makes about $52,900 per annum. One reason for this could be due to the increased pressure on married couples to earn more for their children.

Married couples also save more than singles. Around a third of singles don’t save compared to 17 percent of married persons who do not save. Once again, this could be due to higher pressure to provide a safer financial future among married couples.

Rising Debt Ratios and Their Factors

Debt ratios have continued to rise following the 2008 financial crisis. Although debt ratios in America are on average lower than other countries, this could still create problems where too many consumers need help to erase debt. The rising debt ratio might mean that many households need credit card consolidation for unpaid credit card debt and may be denied access to credit in the future when they need it. The rising debt ratio can also lead to a widening of the financial divide between age groups and communities, worsen inequality, and increase the need for credit card hardship plans.

Much of this debt can be attributed to mortgages which account for around 70% of household debts. The good news is that mortgage defaults are now much lower than what they were back in 2008.

In the aftermath of the 2008 debt crisis, debt ratios fell sharply as a result of delinquencies and cautious borrowing. However, debt ratios have seen a steady rise since then and the total mortgages that households owe are similar to levels that preceded the 2008 financial crisis. Another startling trend is that student debts are rising fast and further worsening debt ratios across households.

In the third quarter of 2008, students that took out loans amounted to around $600 billion. But in the third quarter of 2018, student loans reached a staggering 1,400 billion. That is, student loans have more than doubled during a time period of one decade. This is one major reason why debt ratios for households look rather troubling.

Another key reason for the rise in debt ratios is due to the sharp rise in auto loans and too much credit card debt which leads to debt consolidation loan vs refinancing. During the same time frame as mentioned above, the total amount of auto loans went from $810 billion to $1,260 billion.

To ensure financial stability in the future, the US must assess its debt ratios and improve them by increasing income levels and reducing borrowing.

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US Debt Relief Market Report from 2020-2025 by Leading Players – National Debt Relief, Freedom Debt Relief, Credit Associates, Pacific Debt Inc, Simple Path Financial




Debt Relief Market Report

US Debt Relief Report

The debt relief industry is a dynamic part of the U.S. economy, accounting for roughly $5 billion in total economic output or roughly 0.02 percent of Gross Domestic Product. Debt relief companies currently employ around 6,000 Americans. In 2019, the US Consumer Debt Relief Services market size was US$1.5 billion, and it is expected to reach over $2 billion by the end of 2025, with a compound annual growth rate of close to 5%.

The US Debt Relief Report provides actionable insights to professional service firms such as market research, creative branding, and advertising companies. They leverage our services to analyze competition and explore the needs, motivations, pain points, and expectations of their clients’ target audience.

US Industry Trends

The debt settlement industry has benefited from the global COVID-19 pandemic. A slower economic recovery is evident with the number of Americans applying for unemployment benefits. Millions of American jobs are at risk while credit card issuers have cut credit limits to mitigate the financial risk for the banks.

During a recession, like the one we are experiencing now, people tend to borrow more money to pay bills or maintain their way of life when funds are low. Historically, this leads to a higher rate of delinquencies that credit card companies have to take on. This translates into a spike in volume and profits for debt settlement companies.

What is Debt Relief?

Debt relief is also called debt settlement, debt resolution, debt reduction, debt negotiation, or debt consolidation. Settlements are negotiated with the debtor’s unsecured creditors. Commonly, creditors agree to forgive a large part of the debt, though results can vary widely.

A debt resolution program can have considerable benefits for consumers who have low savings, are drowning in unsecured debt, and have exhausted all other options to get back on track. Outside of filing bankruptcy, entering a debt settlement program is one of the few options consumers have to negotiate with creditors.

Best Debt Relief Companies
Credit: Elnur

Table of Contents:

  • About this Report
  • Industry at a Glance
  • Industry Performance
  • Trump vs Biden
  • Regulatory Environment
  • CFPB Report on Debt Settlement
  • Consumer Complaints
  • Enforcement Actions
  • Products and Markets
  • Competitive Landscape
  • Major Companies
  • Lead Generators
  • Operating Conditions
  • Key Statistics

Why Buy The US Debt Relief Report?

It enables you to find out about key industry trends, identify threats and opportunities, plan strategically for marketing, and gain competitive intelligence over your competition. It provides the necessary information to perform SWOT, PEST, and STEER analysis. It will give you a deeper understanding of market dynamics and operational metrics to effectively compete.

The report includes a historical analysis of the key drivers of the debt settlement industry along with a five-year forecast of the market. Most importantly, it compares the competition according to 40 different metrics.

Top National Players Featured In Report

Freedom Debt Relief, National Debt Relief, Countrywide Debt Relief, Accredited Debt Relief, New Era Debt Solutions, Century Support Services, Liberty Debt Relief, Credit AssociatesPacific Debt Inc, Debt RX, JG Wentworth, Simple Path Financial, CuraDebt, Guardian Debt Relief, Premier Debt Help, California Debt Relief, SPF Saves, Oakview Law Group, Credit 9, Finance Solutions, Titan Consulting Group, Tripoint Lending,

To make a purchase, please email [email protected]

US Debt Relief Market Definitions

SWOT Analysis

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT Analysis is a technique for assessing these four aspects of your business. You can use SWOT Analysis to make the most of what you’ve got, to your organization’s best advantage.

PEST Analysis

PEST stands for political, economic, social, and technological analysis. It is a management method whereby an organization can assess major external factors that influence its operation in order to become more competitive in the market. As described by the acronym, those four areas are central to this model.

STEER Analysis

STEER Analysis stands for socio-political, technological, economic, ecological, and regulatory, which are the types of issues that must be addressed before one decides whether or not to make an investment. A STEER Analysis is used as a risk assessment tool for investigating the impact of a venture or investment.

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How to Remove Bankruptcy from Your Credit Report?




Remove Bankruptcy from Credit Report

There is no doubt that they all want to remove bankruptcy out of their credit reports. If you were forced to file for bankruptcy, then you are not alone. No less than hundreds of thousands of Americans file for bankruptcy each year. After all, the bankruptcy record in your credit report can make financial services inaccessible. So you must know how to remove bankruptcy from your credit report.

Remove Bankruptcy from Credit Score

Remove Bankruptcy from Your Credit Report

If your bankruptcy is not the result of credit card fraud or identity theft, then you can be almost certain that it will remain there for 7 to 10 years. It is not easy to remove bankruptcy from your credit report. But with plenty of effort and good luck, it might possibly be done. Even if you are not successful in removing a bankruptcy from your credit report, then you can still work on building up your creditworthiness.

So while you can take various measures to remove bankruptcy from your credit report, you should still not lose heart if your efforts do not bear fruit. You can work your way up and take steps to build up your credit score so that financial services are once more accessible to you.

Here is what you can do to remove bankruptcy from your credit report.

Determine Bankruptcy Record Errors

To carry out this step, you will need all three of your credit reports. It is important to make use of a good credit monitoring service like Transunion. Not only will it allow you to monitor your credit record, but it can also let you see your credit score for free.

You will have to look very closely at the bankruptcy record in all of your credit reports. Keep an eye out for all sorts of errors. These errors might prove useful in getting bankruptcy removed from your credit report.

Credit Dispute Letter

If you find any discrepancy in your bankruptcy record from any of your credit reports, then you might be able to send a credit dispute letter. The credit dispute letter can help you to pinpoint the inaccuracy. For any kind of discrepancy in your credit report, you should dispute it at once with a credit dispute letter. Send it to all three credit bureaus. If you are lucky enough, then the credit bureaus will not be able to verify your bankruptcy. They will then remove the bankruptcy record from your credit report. However, this is unlikely to happen if your bankruptcy filing is recent.

If you get lucky, then you might be able to remove bankruptcy from your credit report this way. You will not need to follow any of the remaining steps mentioned below. If your bankruptcy is a little old, then there is a greater likelihood that you may be able to remove bankruptcy from your credit report in this manner.

But if the credit bureaus claim to verify your bankruptcy, then you should move on to the next steps shown below.

Procedural Request Letter

If the credit bureaus verify your bankruptcy record, then you have to send them a procedural request letter. The purpose of this letter is to confirm from the credit bureaus who they verified the bankruptcy record with.

The credit bureaus will likely state that they verified your bankruptcy record from court. This may perhaps not be true because it is not the duty of law courts to verify bankruptcy with credit bureaus.


You may have already guessed by now that the next step is to get in touch with the court to confirm if the credit bureaus contacted them for removing bankruptcy. It is unlikely that the credit bureaus contacted the court. You will probably receive an answer that credit bureaus did not contact them for anything. You should take this statement in writing.

When you receive this written confirmation from court, you should then inform your credit bureaus about it. You can demand from the credit bureaus that they remove bankruptcy records immediately. Tell the credit bureaus that they knowingly provided false information which goes against the Fair Credit Reporting Act. This way, you might succeed in removing the bankruptcy record from your credit report.

You should know that such a process can be time-consuming and difficult. The problem is that there is no guarantee that it can work. However, it is better to try your luck than to do nothing about it. You might get lucky and have things going in your favor.

Contact a Professional to Remove Bankruptcy from Credit Reports

To increase your chances of success, you should get in touch with a professional credit repair agency. They are better aware of the steps involved and might be successful.

If you have filed for bankruptcy, then you would like to have the record removed from your credit report as soon as possible. If you are able to remove bankruptcy from your credit report, you will have instant access once more to financial products and credit. Bankruptcy may seem like an easy way out of your financial predicament. In most cases, you may have no choice but to file for bankruptcy.

While bankruptcy can save you in the short run, it can prove quite harmful in the long-term. You can almost be certain that banks and major financial institutions will not entertain your request for loans. Hence, you have to take your chances and remove bankruptcy from your credit report. The method described above is not foolproof; however, it can certainly increase your chances of removing bankruptcy from your credit record. Something is better than nothing. And who knows you might get lucky.

How long your bankruptcy record remains in your credit report depends upon the kind of bankruptcies that you filed.

If you have filed for a chapter 7 bankruptcy, then it will take a full decade for the bankruptcy record to be removed from your credit report because you have paid none of your debt.

The chapter 13 bankruptcy report is removed in 7 years since you have repaid much of your debt.

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Your Money

The Biggest Financial Regret for Americans: Low Savings




Low Savings

Low savings have always been a major problem for most Americans. In fact, many Americans don’t even have enough to pay for an emergency that requires a few hundred dollars. The coronavirus crisis has hit almost everyone hard, but the worst affected are certainly those with low savings.

The coronavirus epidemic is taking a big toll on the economy as millions of Americans now find themselves without work. Experts are predicting a huge economic meltdown, the likes of which have not been seen in decades. In such a scenario, the biggest regret that the average American now has is not saving enough for an emergency, according to a Bankrate survey.

Americans have Low Saving

Low Savings

According to the results of the Bankrate survey, 23 percent of Americans said that their biggest financial regrets were low savings. You would expect that the biggest financial priority would be saving more. But that wasn’t the case. The biggest financial priority turned out to be paying off all debts to become debt-free.

Paying off debt was the number one priority of 22% of respondents. Saving enough for an emergency was the second-highest on the financial agenda at a mere 17%. Sadly, many Americans are so deeply mired in debt that becoming debt-free is the biggest financial goal at the moment. Saving enough for an emergency will only be possible if people are debt-free in the first place. Low savings will continue to be a major financial impediment till the debt problem is dealt with.

It might appear that paying off debts and saving more cannot be done at the same time. However, with proper financial planning and tighter control over expenditure coupled with increased earnings through part-time work it may be possible to pay off debt and save more concurrently.

Low Savings Across Income and Age Groups

Out of the 1300+ Americans surveyed, all income groups reported that low savings were their biggest financial regret. This reflects the sad state of affairs. It’s not just low income Americans, but also higher income Americans who are just not saving enough. However, not every age group was concerned with low savings. Younger people may feel less compelled to save more thinking that they can always do it later. Unfortunately, this creates a vicious cycle where they keep putting it off until they find themselves with low savings during a crisis.

Another survey that Bankrate carried out previously in May showed another disturbing trend. Around one in four Americans had borrowed from their retirement funds to get through the coronavirus crisis. Regrettably, this will only worsen the low savings issue. The coronavirus crisis is making several financial problems much worse for Americans, including the repayment of debt.

No Financial Priority

But perhaps the most disturbing statistic of all was the percentage of Americans who did not have a plan. 17% said that they were not aware of their financial priorities. This clearly shows that a high number of Americans do not have a financial strategy. Americans need to take stock of their financial situation, set their priorities and work towards these goals. This will help them to avoid low savings and be better prepared for unexpected challenges like COVID-19.


A shockingly low 12% said that their top financial priority was saving enough for retirement. With so few Americans setting retirement funds as their top priority, it is highly unlikely that most US adults will be able to enjoy a comfortable retirement. It seems that many will be forced to work well into their golden years. Americans clearly need to review their financial priorities in context of their future. They need to realize that they must have enough for their nest egg to retire during their golden years.

Without enough funds, they will not be able to retire. They may be doomed to work for life. But even that will not be possible because health starts declining rapidly post 60. Those who think that they can continue working away into old age may probably be too sick to earn a living. Taking into account such dire possibilities, Americans should get in touch with a trustworthy financial advisor and start working soon for their future with retirement funds as their top financial agenda. They should start planning and working today so that they do not find themselves with low savings when approaching retirement age.

The survey also questioned Americans about how much they regretted low savings. For emergency savings, 16% said that they regretted it very much while 22% said that they felt some regret for their low savings during and emergency. As for retirement savings, 16% said they felt deep regret while 23% said that they were somewhat regretful for their low savings.

However, the level of regret (for low savings) was substantially less for those who had to pay off debts as it was for those enduing unstable income.

As you would expect, younger people were less worried about low savings with Generation X and millennials showing less regret than older age groups like the Silent Generation and Boomers. Older people find that they have far less opportunities for saving more as compared to younger people. Hence, senior citizens are more likely to regret low savings.

Low Savings: A Top Financial Concern

Not saving enough for emergencies and retirement funds was the top concern combined. At 43%, low savings (for both emergencies and retirement funds combined) were the biggest financial regret for the 1,300 Bankrate survey respondents. The numbers closely follow the results of a previous Bankrate survey that found a vast majority of Americans lagging in their retirement goals.

Americans will need to take concrete steps to solve the low savings problems. They must use automated transfers to save money as soon as their earnings reach their accounts. This can greatly reduce the problem of failing to meet savings targets each month. The money that they save this way can become a part of their savings portfolio and start generating passive income.

There are many other steps that you can take to tackle the issue of low savings. Get in touch with your financial advisor to find out more.

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