Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Posts Tagged ‘debt’

Breaking the Chains of Financial Enslavement, and Smart Refueling Focus of March 21st Economic Perspectives

Posted by nchanel on March 19, 2011

Hopeton Hay interviews Rev. Dr. DeForest B. Soaries, author of dfree: Breaking Free from Financial Slavery, on Economic Perspectives on Monday, March 21st, at 5:30pm. Listen live at KAZI 88.7 FM Austin or online here: He will also interview Ann Koerner, Director of Consumer Product for MapQuest on their new initiative to help consumers find low gas prices.

In his book Dr. Soaries details what is means to be debt free. Dfree motivates and teaches people to live without debt, pay their bills on time and live within their means. The book claims financial freedom by making it popular to pursue economic freedom. This claim is presented in four levels – Level I: Get Started; Level II: Get Control; Level III: Get Ahead and Level IV: Give Back. Dr. Soaries developed dfree™ as a response to the culture of debt, specifically among african americans. It is a four- prong strategy to help individuals, families and organizations overcome the culture of debt and attain financial self-sufficiency.

Dr. Soaries is the senior pastor of the First Baptist Church of Lincoln Gardens in Somerset, New Jersey. In addition to his pastoral duties, he has served as New Jersey’s 30th Secretary of State making him the first African-American male to serve as a constitutional officer of the state. He is also former chairman of the United States Election Assistance Commission. Dr. Soaries was featured on the CNN broadcast Black in America…Almighty Debt. Dr. Soaries will be speaking at Greater Mt Zion for a financial summit on March 26th and 27th.

Also featured, Ann Koerner is one of the company’s key strategists. She oversees developments, as well as the micro site development for features such as Koerner will discuss MapQuest initiative to make the pain at the pump a lot less painful.

MapQuest helps drivers find the lowest prices on gas and keep an eye on fuel costs with tools found at  These tools lay the groundwork for consumers to save money every day with simple, smart ways to conveniently find the cheapest gas prices in their area or around their destination.  Additionally, MapQuest offers a free, voice-guided navigation app for both iPhone and Android users, which can save drivers money on expensive devices and subscription fees.

Posted in African American, Budgeting, Economic Development, Poverty | Tagged: , , , | Leave a Comment »

8 Helpful Tips for Dealing with Debt Settlement Companies and Significant Credit Card Debt

Posted by HH on May 16, 2009

The following tips were  provided by the Office of the Attorney General (OAG) of New York as part of its campaign against the fraudulent activities of the debt settlement industry.  The OAG’s Bureau of Consumer Frauds and Protection launched a nationwide investigation into the debt settlement industry on May 7:

  1. Be wary of debt settlement companies which falsely promise to obtain substantial lump sum debt reduction settlements. Many advertise “reduce debt now,” and claim as much as 50% to 75% off credit card debt, but rarely obtain advertised reductions.
  2. Never agree to sign a contract with a debt settlement company that requires payment in advance prior to obtaining the promised debt reduction.
  3. Enrollment in debt settlement plans may not stop creditors from bringing collection law suits, or prevent enrolled accounts from growing larger by the addition of late fees, interest, and penalties. Also, credit reports will reflect derogatory information, including assessed late charges and non-payment of debt, and consequently credit scores will be adversely affected.
  4. Creditors are under no legal obligation to accept a settlement offer for less than the outstanding balance owed.
  5. Only a small number of consumers who enroll in debt settlement plans have the financial means to complete them. Usually, they drop out after having paid service fees to the companies with no settlements.
  6. Enrollment in a debt settlement plan premised on stopping payments to creditors will likely lead to more frequent and aggressive creditor collection efforts often resulting in judgments, wage garnishments, and freezing of bank accounts.
  7. Check with the Better Business Bureau to obtain a Reliability Report on a particular debt settlement company and its rating.
  8. A wise first step to help resolve an outstanding account is to speak directly to the credit card issuer. Alternatively, it may be helpful to speak to an attorney or an accredited credit counselor who can help develop a plan of action that best works for each consumer’s unique situation.

For more information on the New York Attorney General’s investigation into debt settlement companies click here.

Posted in Credit, Finance | Tagged: , , , | 1 Comment »