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Credit Card Debt
Credit Card Debt Resolution
Credit Card Counseling
shortpaycreditcard.com
ProCouncil™Advisory
A Limited Liability Division
Litigation, Risk & Default Servicing Mitigation Products, Solutions and Services
News July 2008 - Credit Card Debt In Need of Special Modifications!
1st Loss in 3 Years! Citi Bank Lost $176 million in credit card securitizations (Q2) as reported on 8/4/08 by Erik Schatzker of Bloomberg. Like mortgages, predictable credit card receivables are securitized into tradable (debt) bonds. Citi had some $9B in such writedowns on previous deals; as BofA and JP Morgan each carry about $3B in securitized credit card debt as of March 2008.
Solutions:
Consumer Debt sDirt™ Solution
Credit Card Debt Workout Solutions:
Suspended Debt Incremental Reporting™
Sdirt™
Industry members may opt-in to the Suspended Debt Incremental Reporting Treatment Program™ wherein consumers and consumer credit counseling organizations may enter consumers into the program to resolve potential and default payment and credit distress situations by avoiding bankruptcy or negative credit reporting at the outset of the rehabilitation of the consumer’s debt and credit situation.
ShortPayCreditCard™ | shortpaycreditcard.com
Voluntary optin device that reduces the principal of the outstanding debt, interest, rate and resets the payment schedule, all in suspense while protecting FICO scores and working out a credit short pay off by using sDirt™.
ShortPayCreditCard™ and Suspended Debt Incremental Reporting™, Sdirt™ All Rights Reserved in Copyright, Trademark, Competition, etc. 2008, HotNeutral™ and/or Richard I. Rydstrom
Articles | White Papers
Mortgage Executive Practice Articles: Related Bankruptcy & Insurance Issues:
“Zone of Insolvency” Meets the “Zone of Coverage” in the Mortgage Meltdown” –
Liability Lessons from the Official Take-Under of Bear Stearns!
Part I – Issues Overview - All Sides! By Richard Ivar Rydstrom, Esq.
Industry News:
* On June 17, 2008, The Coalition for Mortgage Industry Solutions will hold its
Executive Leadership Summit in DC. Click here for more info.
* On July 18, 2008, Richard Ivar Rydstrom, Esq. will speak at the
AFN Annual Mortgage Conference in Lake Tahoe. Attendees will receive
The Zone of Insurance Coverage, Part 2. For more information or to register, click here.
The Zone of Coverage™ | Zone of Insurance Coverage™
The Zone of Insolvency™
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