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The Debt Relief Company - In The News

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5 Ways to Slash Your Debt During the Pandemic 

 

August 18, 2020

Adem Selita, CEO & Co-founder at The Debt Relief Company, says: “The key thing to understand is that during a recession, consumers have more power and leverage than they would otherwise. What does this mean for consumers? It means you should reach out to your credit card companies directly and negotiate better repayment terms and better interest rates. Since the odds of default are likely to increase during the recession, credit card companies are much more willing to work with you.”

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If You Can’t Pay All of Your Bills, Here Are the Ones to Put on Hold First

June 17, 2020

"As a general rule, your first priority should be to make payments on your secured obligations, like your mortgage or auto loan, explains Adam Selita, CEO of the Debt Relief Company. Many creditors are offering assistance during this time, he says, so it’s important you can communicate with any of your lenders or providers before you fall behind on payments."

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14 Financial Tips to Meet Your Financial Goals in 2021 

December 23rd, 2020

Credit-card debt is a slippery slope in the best of times. And when the economy is uncertain, it’s best to avoid using credit cards as much as possible. “It’s never advised to spend money you don’t have via revolving lines of credit. And psychologically making purchases via most credit cards makes us a lot less frugal and undisciplined,” says Adem Selita, CEO and co-founder of The Debt Relief Company. “Considering that interest rates are near all-time lows, paying 20% or more on credit-card debt is a terrible financial decision to make.”

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How to Invest in Penny Stocks 

November 18th, 2020

Find stocks that have high trade volumes so you can sell easily. Adam Selita, CEO of the Debt Relief Company notes, "less than a million shares traded daily is a red flag." The most credible information on a company will come from SEC filings — or an analyst report published by a reputable brokerage, investment firm, or independent financial-research firm. 

Be skeptical of any unsolicited contact, like cold emails or telemarketing calls. Similarly, don't trust stock picks and recommendations from sponsored content you see published on the web. Selita notes that lots of sponsored content on a certain firm may indicate that insiders are planning on dumping the stock after its price rises. If the promotional material says "pennies to dollars instantly!"— run. 

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Popular Money Rules You Should Stop Following

February 18th, 2021

“It’s safe to say many investment and savings rules no longer apply in the current economic climate,” said Dino Selita, president and co-founder of The Debt Relief Company. “Things have changed significantly for many consumers and I feel sticking to a rigid rule of thumb for allocation of cash is an old idea that does not reflect the dynamics of a consumer living today. Some consumers are saving more since the pandemic while others are not. Things have changed significantly and due to this, it’s best for consumers to adapt alongside their budget.”

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Study: Consumer Finance Complaints Skyrocket During Pandemic

July 28th, 2020

Adem Selita, co-founder of The Debt Relief Company in Manhattan, saw this with many of his clients:

We have had numerous clients with erroneous markings on their credit report and negatively impacted credit scores due to the pandemic and the relief programs set in place by many banking institutions and credit card companies.

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What is a Bad Credit Score? -

November 2, 2020

“I think often we confuse creditworthiness and credit scores,” said Dino Selita, president and co-founder of The Debt Relief Company. For example, Selita said, if your debt-to-income ratio is too high, your exceptional credit score may not mean much to your lender and you still might not get great terms on a mortgage.

“In my opinion, someone who has an extremely low debt-to-income ratio and great loan-to-value ratio (the ratio between the loan amount and the value of the asset securing the loan) is sometimes more creditworthy than a consumer with a great credit score and not as great ratios,” he said.

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21 Executives Share How They Stay Efficient While Working From Home

August 24, 2020

Adem Selita, CEO at The Debt Relief Company, said that the first step is to create an at-home office space.

“You really need to make a space for the sole purpose of working at home and make that space your own,” he said. “It can be extremely difficult to separate your personal and work life when working from home, so setting up that boundary for work is absolutely necessary.”

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7 Steps to Make Your Business Less Likely to Fail

March 19th, 2020

"I am a founding member and the current CEO of The Debt Relief Company, a New York-based debt relief company that helps Americans become debt-free across a majority of the United States. We provide our clients with debt relief options and strategic solutions to their financial burdens by consolidating their high-interest credit card and personal loan debt into more manageable payments. However, getting to this point was no easy feat. It took years of struggle, sacrifice and, well … failure."

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Courage is the Largest Prerequisite to Make Plans with Charlie Katz & Adem Selita

September 15th, 2020

“It’s safe to say many investment and savings rules no longer apply in the current economic climate,” said Dino Selita, president and co-founder of The Debt Relief Company. “Things have changed significantly for many consumers and I feel sticking to a rigid rule of thumb for allocation of cash is an old idea that does not reflect the dynamics of a consumer living today. Some consumers are saving more since the pandemic while others are not. Things have changed significantly and due to this, it’s best for consumers to adapt alongside their budget.”