Debt Settlement We work for you, not your creditors

We work for you and not your creditors.

Anew Home Loan Services has helped hundred's of people reach their debt free goals. Our mission is simple, to end our clients suffering over their debt and to assist them in achieving a better quality of life. We do this by educating each and every person we serve to significantly improve their financial well being through education and creating new financial habits.

On average we will save you 40-60 cents on the dollar through the debt settlement process. This includes all fees.

Client education is one of the key components in the debt negotiation process. The more you know about debt negotiation, the more peace of mind you will have throughout the negotiation process. We do not want any client to have any more sleepless nights worrying about their debt.

Anew Home Loan Services is not just financial education but financial coaching to give you a sense of freedom and ease about your finances. You will receive coaching throughout the program. Our coaching is designed to keep you on track throughout the entire program.

You either have circumstances or they have you. Debt Settlement is not a miracle debt cure but it does work. It is a process and will take effort on your part to achieve being debt free.

How does Debt Settlement and Debt Negotiation work?

Debt Settlement is a process of working out negotiated settlements with your creditors. Debt Settlement is an alternative to filing bankruptcy. Most consumers do not have money lying around to make one time lump sum settlements. That is why we have created a payment program that allows up to 48 months to have you out of debt. We will set up a separate trust account in your name that you control. Each month you will deposit your monthly payment into the account. Once there is enough to pay off a debt we will get it settled and save up for the next one. We will do this until they are all paid off.

Each time a collection account is paid off your credit score will improve. When a debt is settled you will receive legal documentation as evidence that you debt has been satisfied. You can even buy a home while you are in the program.

What kind of debt will we work with?

1. Unsecured Credit Cards

2. Past Due Utility Bills

3. Hospital Bills

4. Pay Day Loans

5. Attorney Fees

Debt Settlement is one option available.

Debt settlement is one option available to the consumer as a way out of their financial hardship.  Debt settlement deals with unsecured credit.  This unsecured credit can take the form of credit cards, medical bills and any other unsecured debt the consumer has incurred.

The consumer needs to realize there are two types of credit available to them. Secured credit means debt has some type of collateral backing -  your home, your car or in some cases, cash secured loans. The other form of credit is unsecured which is normally credit cards from lenders or retailers.

The unsecured credit is where the consumer has caused the majority of their financial problems.  The consumer has used credit card to purchase daily expenses, like their  groceries, gas, airline tickets, and on-line retail shopping. The credit card companies would offer points to the consumer to purchase items and give them reward points or points toward travel. In addition, the credit card companies would offer us new credit from higher interest rate cards to lower interest rate cards, if we transferred the balances.  It was like a shell game, moving balances from one card to other which allows us to have more credit.

 The one way to get out of debt is to look for a debt settlement company.  Debt settlement may not be for everyone. It requires the consumer to start saving money monthly until enough monies are available on the lowest outstanding balance credit card before the debt settlement company to begin negotiations.

Yes, there are drawbacks to this approach as there is to other options.  This is not an overnight fix it may take anywhere from 12 to 48 months. However, the first step is to discuss with a debt settlement company the ways in which they may be able to assist you out of debt. But if the consumer is really wanting to do something and get out of this financial hardship, call us today to discuss your options. Call us at 800-385-0502 for more information on Debt Settlement.

First and For Most Set a Budget!

First and For most Set a Budget

As Americans we overspend! We self indulge! Bankruptcy and foreclosure is the highest it has been in decades. Filing bankruptcy or having your home go into foreclosure is a painful process. These avenues where set up to help us out when those unexpected things happen in life like catastrophic illness or loss of employment etc. Too often these steps are taken because of lack of planning on the consumers’ part.

Now is the time to set a budget. I have always set a budget but have advoided meeting with a financial planner because I thought they would take away my freedom to choose what I wanted in life. I found out that their goal is to help me get what I want in life sooner. You may or may not want to get with a financial planner but make sure you at least commit to a budget.

Before you set down to do a budget think about (if you have a significant other include them) what you want to do in life. How soon do you want to retire, what kind of vacations you want, what major expenses do you have coming up such as education etc.. List the things that you want to accomplish and list the debts you have. Decide how much money you can spend a week for an allowance to eat out, go to the move or what ever your interest is. Make sure you allow for income tax and charitable donations and a must 401k/savings. Once you have your list together you are now ready to look at what income you have to work with.

Do you know how much money you really make? Review you pay checks and what your take home pay is. Did you have to pay taxes last year? Are you paying enough federal and state taxes, do you need to inculde more taxes in your budget?

After you have compared your income to your current debt and what your goals are ask your self how much can my house payment be (this must include your house payment, property taxes, hazard insurance, mortgage insurance if applicable and any homeowners association fees) ?

Lenders like to see housing between 28-31% of your gross monthly income of course lower is always better. Personally I could never afford a housing ratio of 28-31% I like other things too much. My housing debt has typically been around the low to high teens.

Mortgage brokers/lenders don't usually want to see your total debt over 38-41% of your total monthly income. This is your housing debt along with consumer debt (does not include utilities, taxes, charitable contribution, day care)

There are some good web sites out there to help you get started on a budget.