The Newly Revised Student Loan Program

by DebtGuy 30. March 2010 07:13

Last week the U.S. Senate voted to eliminate private lenders from its subsidized student-loan programs.  With the new law, students would borrow straight from the governement at the same interest rates (6 - 8.5%), but costs the US Treasury less money since the government can borrow money more cheaply than private the private sector can.

You many be wondering how this new bill affects your student loan balance.  According to the White House, "New borrowers who assume loans after July 1, 2014, will be able to cap their student loan repayments at 10 percent of their discretionary income and, if they keep up with their payments over time, will have the balance forgiven after 20 years."

Additional details can be found at

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Mortgage Troubles...Is the Governments Plan Helping?

by CreditCardDebt 20. August 2009 08:59

Rather than babble about something that I'm not as up to speed on as other topics I thought today I would share a link to an expert on the subject of "Mortgage and Government".  I hope this is useful information to some and educational for others...


If you’re like most of us your mortgage is worth less than you owe and you are having trouble keeping up with the payments. 


After reading please feel free to express your opinion on this subject.  We understand that this is a hot topic in the news right now so please share...


Please click on the link below and it will take you directly to the article.


If you would like additional information, or would like to discuss your financial situation in greater detail, please contact one of our AmeriFree experts and they will be happy to assist you!




Debt Blogger

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Increase in Debt Collection Complaints

by DebtGuy 31. July 2009 05:38

Consumer Federation of America reports debt collection experienced the fastest growth in consumer complaints in 2008.  With the state of the economy, companies have cranked up the pressure and shady practices on consumers to collect debt.  Most people that are down on their luck, or behind on their bills will receive phone calls from collection agencies demanding payment for past due balances, however the trend is showing they are using more deceptive and harmful practices.

Despite the growth in consumer complaints, the resources to help are shrinking due to budget cuts and staff reductions.

Consumers that are having a difficult time keeping up with their bills should strongly consider enrolling in a credit counseling or debt settlement program with AmeriFree Financial.  Our debt solutions are consumer friendly, allowing you to pay what you can afford, while putting a stop to collection calls.  Call us today to discuss your financial needs.



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Plastic Safety Net Causes Long-Term Problems if Unchecked

by DebtGuy 30. July 2009 08:18

In a Demos article titled The Plastic Safety Net, Tamara Draut and Jose Garcia outline how households are managing their cost of living in these hard economic times.

While the deep recession continues to threaten the financial well being of middle-income families, its become a more dramatic problem;  even before the economy tanked, millions of households were already having a hard time meeting most simple expenses, and barely making minimum payments owed to creditors.  As unsecured debt balances ballooned families are now experience declining home values and see their credit lines shrink, a lot more people are falling behind on their mortgage and credit card payments.

Now is the time to get out of debt!  Our credit counselors can help you develop a customized debt solution plan to help you get out of debt quickly.  The call is free, so act now!




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