Press Releases

Low Interest Rate and Reward Point Credit Cards are not Enough

(Courtenay, BC)…76% of consumers will experience a life tragedy (hardship) that will seriously compromise their financial circumstances. With the recent economic down turn, many consumers are becoming informed applicants of credit. Canadian debt settlement expert Bonnie Krisher, founder of K&G Debt & Credit Professionals, uses her ongoing experience with negotiating debt settlements with creditor’s, as a resource for potential customers of credit grantors. Serving much like a ‘reverse credit bureau,’ she assists consumers in rating the lenders by their true character and care for the consumer.
“The recent economic down turn has shocked consumers out of auto pilot credit card use into obtaining credit more cautiously,” Bonnie Krisher says. The old adage that ‘it would never happen to me,’ is over. Consumers will start to obtain credit with the consideration that if something goes wrong that they should be with a creditor of ‘good character.’ According to Bonnie Krisher, there are three basic things every person applying for credit should consider:

• Does this creditor provide great customer service, or do they treat their consumer’s like a minority. Individuals should perform as much research on the credit grantor’s as possible.
• Has the creditor been sued or counter sued? Check what they have been sued for and whether they were found guilty.
• Ask for a word of mouth referral from a service provider that defends consumers. Such as a debt settlement expert, bankruptcy trustee, lawyer. They will have first hand knowledge of how a particular creditor treats those consumers who have experienced an unfortunate hardship and needed creditor flexibility.

With pre-authorized credit cards and line of credit applications still pouring into the homes of Canadians, the focus should shift from who has the lowest interest rates or suggested rewards, to who has the best character. Happy family pictures on the windows of creditors are for the purposes of marketing, and not a true indication of their credibility. Credit is a business transaction and consumers should know who they are doing business with.
Through the efforts of advocates like K&G Debt & Credit Professionals, consumers are being better educated on the consequences of credit and how to be informed users.

Employment Layoffs-Only Credit Card Companies Win!

CALGARY, ALBERTA--(Marketwire - Sept. 3, 2008) - Major credit card companies see a 56% net profit annually from consumer debt. With recent layoffs and pending layoffs, the resulting victims of unemployment are sitting ducks for acute financial disability. With a loss of employment these days the consequences are more extreme than ever. According to researchers, finding employment today is harder than ever. Combined with the higher cost of living, the result is a credit dependency that only leaves one winner - the credit industry. Debt Arbitration expert Bonnie Krisher, founder of K&G Debt & Credit Professionals, is taking a stand for those who have unwittingly used the support of credit to survive a crisis only to discover themselves entrapped.

"Creditors should be required to attach a disclaimer or hazard warning to their credit cards, by not doing this it should be considered entrapment," Bonnie says. "We require warning labels on food and drugs, but require nothing of an industry that is hazardous to marriages, personal happiness and freedom." According to Krisher, there are three basic things every person should consider when addressing credit entrapment:

- Down size. Discard old attachments to "things" and meet your basic needs.

- Get back to basics, deal in cash, and if possible work for cash. Some have called this "vanishing into the underground economy."

- If you are already entrapped in credit card debt, then research someone who will eliminate your debt while educating and protecting you.

Unfortunately, Canadians do not understand that one life crisis could leave them permanently paralyzed. With little to no savings and higher expenses, a loss of employment or any reduction in income or benefits could mean disaster for the average family or individual.

Debt Elimination is Possible

CALGARY, ALBERTA--(Marketwire - Aug. 14, 2007) - 85% of consumers are only one or two paycheques away from bankruptcy. With a highly inflated real estate market over the past half decade and increasing interest rates, many consumers are teetering on the edge of financial destruction. Debt Arbitration expert Bonnie Krisher, founder of K&G Debt & Credit Professionals, uses the power of consumer legislation together with failures in the consumer credit system to level the playing field between creditors and debtors. The process that she has developed provides consumers who have legitimately fallen into a debt crisis to have a large portion of their debt forgiven by their creditors.

Consumer debt is financially crippling families today, Bonnie says. It is a vicious circle and all it takes is a common life crisis, like the loss of a job, to send families out of financial stability. According to Krisher, there are three basic things every person facing a debt crisis should do:

- Protect yourself from creditors by creating a joint account with someone who is not associated with your debt; such joint accounts cannot be garnisheed.

- Protect yourself from collection companies that make harassing phone calls, by simply requesting that any further collection attempts be made in writing only.

- Protect yourself and/or your spouse by understanding your rights. For example, under Canadian law, a creditor cannot pursue you for debts that are in your spouse's name.

Unfortunately, Canadians have claimed bankruptcy for debt as low as $1000.00. Others have prolonged their debt through a long term payment plan, or consolidated it into one larger debt. Debt settlement however, offers consumers results and relief that other alternatives do not. By having a portion of their debt forgiven through this process, these people are able to start rebuilding their financial houses much sooner. Bonnie Krisher, owner of K&G Debt & Credit Professionals, goes to great lengths to educate others so that consumers can finally defend themselves and their families in the midst of a financial crisis.

Through the efforts of advocates like K&G Debt & Credit Professionals, financial institutions are at last beginning to recognize that personal debt problems are created by life's circumstances.