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Just when we had hoped for relief, the economic woes seem to accelerate with no end in sight. Combined with growing fears of a recession we now have the disturbing prospect that an imminent recession will be combined with simultaneous price inflation. Commodity prices, for example, are climbing - with some industry observers predicting that the price of petrol will rise as much as 30-40 percent by July. As these factors create a bleak economic outlook, the cost of high-interest debt becomes more burdensome.

According to recent reports from the Telegraph and BBC News:

- A record-breaking 107,000 people went insolvent in 2006, an annual rise of almost 60 percent, as UK personal debt totals hit £1.4 trillion

- Lenders wrote off about £6.8bn in individual debt last year, the biggest annual total on record.

- Banks classified a total of £2.1bn as bad debt in the final quarter of 2007, of which £1.6bn was consumer debt.

- Only a small fraction of this was mortgage debt, with the majority accounted for by credit card and other unsecured debts.

But all is not lost. While major interest rates are still relatively low there is time to get out from under high-interest debt, and mounting monthly payments by borrowing a single affordable loan and using it to pay off more expensive loans. The strategy, referred to as debt consolidation, is often recommended to consumers faced with seemingly impossible financial circumstances. A debt consolidation loan is one that offers a more competitive rate than the ones you currently hold.

Of course if you already have bad credit, it can be harder to find an attractive consolidation loan. But so-called bad credit loans offer a solution, even for those with low credit scores. Lenders who offer these loans tailor to a niche market, and specialise in serving those borrowers who are turned down by traditional banks and other lenders due to credit problems. Their sole purpose and business focus is on providing loans to people with poor credit, and the services they provide are a valuable asset for UK consumers unable to borrow from conventional lenders.

With a bad credit loan from one of these lenders, it is possible to consolidate debt and convert your bad credit into a good plan for saving money and getting back on track to financial security. Transferring outstanding balances to a single lower interest bad credit loan accomplishes two critical and financially helpful goals.

First of all, you save money on the difference in interest payments. For example, if you are paying on a credit card that charges 18 percent interest and can pay off that balance with a new loan that only charges 8 percent, you realise immediate savings of 10 percent. That’s a better return than most stock market wizards can boast, and it can be done in a matter of minutes by simply applying for the new loan.

Secondly, consolidating debt by paying it off with a single loan makes monthly payments simpler to manage your budget. With only one payment to make - instead of numerous bills to pay at various times during the month - it is easy to write one check, once a month. You minimize the risk of late payments, penalties, fees, and punitive rate hikes, while also making your personal financial life less stressful.

EDINA, Minn.– July 22, 2008 –Foreclosed properties are in high demand and in today’s market, many such properties are available. To simplify searching for foreclosed and lender-owned properties, Edina Realty now offers consumers a new search option on its Web site, www.edinarealty.com.

Consumers simply click on the home page link, “Search Foreclosures” to pull up information and a link to all “In Foreclosure/Lender-Owned Properties.” Like all properties on the Edina Realty Web site, searches can be conducted using an interactive map, or by area, city or school district. All properties that are in foreclosure or lender-owned - Edina Realty’s listings and those of other brokers - will appear.

Currently, over 3,000 foreclosed or lender-owned properties are listed in Minnesota and W. Wisconsin, ranging in price from $8,000 to over $5 million. The Minneapolis Area Association of REALTORS®, which tracks closed sales of lender-mediated homes, reports that these sales made up 27.6 percent of the total market in the first quarter of 2008, compared to 9.3 percent of the market in the first quarter of last year.

“The increase in foreclosures is another opportunity for consumers to take advantage of the current real estate market,” said Barb Jandric, Edina Realty general manager. “But when entering into this type of real estate transaction, it’s critical to work with an agent with experience in these types of listings who can help navigate a complex process and protect the buyer’s interests.”

Jandric said that buying a foreclosed or lender-owned property can be more complicated because the lender is involved in the transaction, either acting with approval powers or as the owner/seller.

A property in foreclosure means that the owner has been served a legal foreclosure notice. Once the foreclosure process is complete, the property becomes lender-owned. “Each situation is unique and understanding the process and the market is important,” Jandric said. “For example, because these properties may be previously owned by people experiencing financial difficulties, they may need updating and repairs. There may be liens or back taxes due on the property.

“Knowledge is power in this market,” Jandric said. “Researching market conditions and thoroughly understanding the ‘ins and outs’ of the foreclosure process are crucial.”

Edina Realty, a subsidiary of HomeServices of America, is one of the nation’s largest real estate companies with 80 real estate offices throughout Minnesota, North Dakota and Western Wisconsin and more than 2,800 REALTORS®. Edina Realty’s family of companies includes Edina Realty, Edina Realty Title, Edina Realty Mortgage and Edina Realty Relocation. Edina Realty handled more than 26,300 transactions and $7.0 billion in sales volume in 2007. For more information, visit www.edinarealty.com.
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“Just the thought of being debt-free can bring tears of relief to a family who has been under high interest payments for years,” says Absolute Debt Solutions Founder and CEO Tom Bates. “Studies show that 78% of all income is paid out to debt of some type, with the major percentage of each payment going toward interest.”

Bates lists the types of debt settlement options available and offers some insights:

~ Consumer counseling services — These services operate by setting clients up with their own personal counselors. Only after clients have paid an enrollment fee and agreed to automatic bank drafts, will the program go into effect. The counselor then contacts the client’s creditors and attempts to lower their interest rates. But, this is often only lowered temporarily. Should the client or the counselor be late in getting the payment to the creditor, that low interest rate will return to its previous high rate. Often these services appear to be non-profit, however that is most often not the case. An article from the Cincinnati Post titled “Wolves in Credit Counselors’ Clothing” (April 26, 2005) found Clients of the California-based National Consumer Council, Florida-based Debt Management Foundation Services Inc. and Massachusetts-based Better Budget Financial Services Inc. paid thousands of dollars to keep bill collectors at bay, but instead clients saw their debts, interest rates and late fees increase as the three companies did little to help. Often, these services will follow up with the creditor with a letter of counsel that informs them of the client’s involvement in their program and asks them the work with them, and to proffer a fair-share contribution. Ultimately, the money a client pays should be going to the creditors first, not the counseling service.

~ Debt Consolidation is always a great way to bring resolve to debt as long as clients have a process in place before the consolidation to settle the debt. If there is no procedure in place to discount the amount owed, there is no real reason to conduct a consolidation loan. Lowering the monthly payment is somewhat beneficial, but the end result may not be what is desired. A simple trade out of loans does not lower the amount owed or monthly payment, and in most cases, clients are going to end up owing double what they started with. About 80% of borrowers use debt consolidations loans, bringing accounts to a zero balance, but end up owing another lender at a lower or longer rate/term. In most cases, people that go through debt consolidation will continue to use the accounts that were paid off, resulting in double the debt. The end result is, if clients have a well qualified debt settlement company that will charge a fee based on results, they should handle all the negotiations before the debt consolidation and then they are sure to come out on top.

~ With Fee based Debt Settlement, there are many options, and in several ways, consumers can save money. If it is a buffer or shield type, clients are always in better hands with creditor experts that are IAPDA certified and have been in the collection and or credit industry. These creditor experts understand the creditor and the individual account better than an average debt settlement company. Further, the fees charged by fee based debt settlement companies are going to cost about 15% of the total debt. So whatever is advertised, add about 15 % to their quote, and in most cases, the fee is paid up front before the job is done or even started. If they are not willing to give a written guarantee to perform and produce, potential clients should reconsider doing business with them, regardless of their affiliation or ratings. The old saying, “if it is not in writing, it didn’t happen” applies here. The truth is, there is only one type of guarantee that will protect the consumer. When it comes time to perform the actual service, most of the money clients have saved over the months or years has gone to the debt settlement company, leaving little or no money for settlement. This method does not seem to have the consumer’s best interest in mind, as the debt settlement company gets paid before the creditor. One of the largest debt settlement companies just had a class action law suit filed against it, for the practice of collecting fees but not providing services. Along with this law suit, there are over 700 BBB complaints filed for actions truly not in the consumer’s best interest. Not all fee based debt settlement companies act like this; some put their client’s best interests first.

~ With a Service Fee Based debt settlement like Absolute Debt Solutions, there are clearly outlined steps for the best option for debt settlement. Clients know that they will reach a guaranteed discounted rate or pay nothing for the settlement, and pay nothing till the job is done. As the service fee based debt settlement company generates results, clients pay the fee rather than paying the fees up front. While all the other services as fee based debt settlement are practiced, clients pay nothing for debt settlement unless the goal is reached and the job is done. This protects consumers from fighting for a refund when the service is not completed and the creditor refused to settle. Only a qualified and IAPDA certified debt settlement company could or should consider this practice as the guarantee is weighted on the side of the consumer. Producing results, industry integrity, ethics and experience will maintain the needed client and creditor relationships.

For those considering debt settlement, they should consider these factors while deciding what program fits their needs:
1) First, how did they hear about the company?
2) Does the savings program have their best interests in mind?
3) Is the company willing to share its year to date settlement averages?
4) Are they experienced in both the collection and creditor industry?
5) Are they certified with the IAPDA (International Association of Professional Debt Arbitrators)?
6) Do you believe in the team that will be helping you?
7) Once you start, are you aware there is no looking back?

About Tom Bates
Tom Bates, IAPDA, CDA,CDS, is President of Absolute Debt Solutions and Absolute Credit Repair Inc. He has spent the last 13 years in the credit and finance industry, managing and directing some of the largest receivable companies in the world. Bates has developed a program that has proven results far above the competitors. He is IAPDA Certified (International Association of Professional Debt Arbitrators). Absolute has one goal in mind, your best interest. Absolute also offers additional discounts and services for active military and those with special medical needs. For more information, please visit www.absolutedebtsolutions.biz.

Contact:
Tom Bates
IAPDA Certified Debt Arbitrator/Debt Specialist CEO
Absolute Debt Solutions Founder & CEO
Absolute Credit Repair Founder
1-877-255-6069
http://www.absolutedebtsolutions.biz

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The online survey found that a slight majority surveyed expect the nation’s economy to develop into a depression. Housing Predictor regularly surveys visitors to its web site on real estate related issues, including the economy, and provides more than 250 local housing market forecasts in all 50 U.S. states.

The survey comes at a time when the majority of the nation’s housing markets are in the midst of the worst slowdown since the Great Depression. Sales of homes and other properties are at the slowest volume in years in what has developed into a national real estate recession.

Foreclosures have reached all-time record levels as a result of the credit crunch and increasing signs that the nation has fallen into a full-fledged recession, including higher unemployment and worsening consumer confidence.

More than two million homes throughout the nation have already been foreclosed as a result of the nation’s financial crisis, and higher mortgage payments home owners are unable to afford. The foreclosure rate has doubled and is forecast to worsen over the next few years.

The real estate crisis has sent shock waves through Wall Street and other financial markets, sending the nation’s economy on a downward spiral. The White House and Congress are working on plans to help some home owners, but are clearly unable to act fast enough to help many consumers.

Housing Predictor forecasts that foreclosures will top 5.6 million units through 2011.

The crisis has broad implications for the national economy. Consumers are already feeling the pinch at the grocery store with higher prices for food and other products and at the gas station with higher fuel prices. Economists are growing with increasing concern over the economy, which could see the worst economic crisis since the Great Depression.

To find out more about the survey, check your markets real estate forecast and search foreclosures visit http://www.housingpredictor.com

The American Medical Association (AMA) adopted principles earlier this month that favor the health courts, which would do away with peer-based juries and replace them with judges trained in medical standards.

Hensley said the notion of health courts dangerously tips the standard of justice in malpractice cases against victims who may be entitled to sizeable judgments when they are seriously harmed by poor medical care.

“There is a fox-guarding-the-henhouse quality to this idea of having medical people passing judgment in medical malpractice cases,” Hensley said. “People who have suffered very serious injuries or damages as a result of medical malpractice should have little confidence in courts which are run by the very same profession that caused their injuries.”

Instead, Hensley said, medical malpractice victims should have full access to a court system in which their peers consider evidence from both sides, and then determine possible damages that are based fairly on the extent of their injuries or damages.

“This is not simply a step away from reasonable medical malpractice law,” Hensley said. “This is a step away from the very foundations of American justice.”

So-called health courts were conceived during Brookings Institute conferences in 2002 and 2003. Besides the move to health courts, the principles adopted by the AMA urge quick resolution of claims, special training for judges, and reliance on qualified experts. The AMA also has stated its support for limits, or caps, on medical malpractice judgments.

A better way to limit malpractice judgments, Hensley said, would be to limit substandard medical treatment that results in injury or even death.

“If the AMA wants to limit the claims that get awarded in medical malpractice suits, a good place to start would be in its own backyard,” Hensley said. “People have a right to expect good, professional health care and, when they don’t receive it, they should have a right to reasonable financial claims.”

Hensley said it is important to remember that the duty of a medical professional is not to cure, or even to guarantee a good outcome from treatment. Rather, the duty is to provide good medical care according to accepted standards in the community, or, in the case of a specialist, accepted standards in that medical specialty.

“Medicine is not an exact science, and doctors are not required to be right every time they make a diagnosis,” Hensley said. “A misdiagnosis becomes malpractice, however, if the doctor fails to get a medical history, order the appropriate tests, or recognize observable symptoms of the illness.”