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DebtHelp, Inc, a leading credit and debt information company that specializes in connecting consumers with debt solution providers, announced the launch of the DebtHelp Solution Finder as part of its services.

By answering questions about their individual debt situations, clients in search of information on debt consolidation, refinancing, student loan consolidation, or tax debt relief can get personalized answers for their specific problems.

“Information is key,” said John Turner, president of DebtHelp, Inc. “Getting specific help that deals directly with your debt problem can greatly improve your chances of successfully managing debt.” DebtHelp’s Solution Finder connects customers to companies that specialize in their debt problems.

Many providers of debt help information force customers into “one-size-fits-all” options. In its Credit Counseling in Crisis report, The Consumer Federation of America cited lack of options as a major factor in the failure of traditional debt help solutions.

“Typically, someone will go to a debt help site and get sent somewhere that’s not really tailored for their needs,” said Turner. “They may be looking for help with student loans and end up at a credit counseling company.”

DebtHelp, Inc. seeks to overturn this industry standard by offering personalized debt help solutions. “If customers go through our Solution Finder and answer the questions presented to them about their financial situation, they end up getting to the right place the first time,” said Turner.

For more information, visit debthelp.com.

Debt counselors are now getting calls from confused and desperate consumers spouting interest rates of 27% to 33% who are looking for credit card debt help.

“Consumers are really being hit hard by outstanding credit card debt and some of the interest rates verge on being usury,” says Howard Dvorkin, founder of Consolidated Credit Counseling Services, Inc. “People need to have credit card debt terms spelled out for them in easy to understand language. More than half of consumers who carry credit card debt want customized disclosures on their monthly bills explaining how many years it will take to pay off the card if only the requested minimum payment is made so that way they have a clear idea of how long it will truly take to get out of debt,” he continued.

Late fees make up nearly 70% of the 17.1 billion dollars in fees collected by credit card issuers. Many credit card companies are located in states that have no limits on interest rates and fees. Numerous banks are demanding $39 late fees, fees for same-day payment, payments made by phone, and for usage overseas, and the kicker is, that instead of declining a transaction that will put you over your credit card limit, they approve it and smack you with a “courtesy” fee. Yes, thank you very much.

There is no end to the sneaky methods credit card issuers will utilize to entice you to spend more money. Believe it or not, one-third more people increase the amount they charge if the purchase doesn’t require a signature. This is according to a MasterCard study. By not requiring a signature for charges of $25 or less, consumers are reaching for their credit cards instead of paying with cash. And because your credit card is so handy why not add a few extra things to the bill; it’s not even $25, right? Before you know it those small charges will add up.

Remember when earning rewards was a great way to receive cash back or airline miles? In 2006, American Express removed its double points reward system for everyday purchases on their credit card. And Citibank reduced its cash back on purchases from 5% to 2%. All in all, consumers need to be vigilant and careful with their credit card spending and they must read notices and bills so they don’t end up with a “gotcha!”

For more information, visit  consolidatedcredit.org

Kaulkin Ginsberg Company recently announced that Great Seneca Financial Corp., a Rockville, Md.-based firm that acquires portfolios from leading financial institutions, retail creditor issuers, and national debt buyers, has a definitive agreement in place to sell a debt portfolio with an aggregate face value of roughly $6.9 billion, to Asta Funding, Inc. (Nasdaq: ASFI) for $300 million in cash.

Kaulkin Ginsberg initiated this transaction and served as strategic advisor to the seller. “This portfolio sale represents the largest debt sale, in terms of purchase price, ever conducted in the industry,” said Mark Russell, Director at Kaulkin Ginsberg, the leading strategic advisor and research firm for the accounts receivable management industry.

Due to its size and inherent value, this portfolio generated a lot of interest in the marketplace. However, Russell noted, “The size of the portfolio and market timing also presented challenges in completing this transaction in a short timeframe. With our market knowledge and experience in these types of transactions, we were able to conduct a quick and confidential process that produced the ideal buyer for this transaction in less than two months from start to finish.”

According to Kaulkin Ginsberg’s research, debt buyers acquired an estimated $158 billion dollars in face value of consumer debt worldwide in 2005. The firm has noted a trend toward the sale of larger portfolios in recent years.

The trend is attributed to a number of factors, including the overall growth of consumer debt, the consolidation going on among credit card issuers, and the fact that market conditions are favorable for debt buyers to sell their assets.

For more information, visit kaulkin.com.