Debt Relief Companies - California
Finding debt relief companies that offer proven ways to get relief from credit card debts is a serious concern for many Americans these days due to any number of reasons, including unemployment, personal hardships, or perhaps a medical emergency. Debts can sometimes add up quickly when finances are tight and one is forced to use credit cards to buy daily essentials like food and pay for utilities, while at other times, debts can accumulate over time as a result of too many impulse buys.
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If you are a California resident who is also experiencing financial distress and are falling behind on your credit card debts, you may be interested in finding out about how you can potentially get help and what ways you could manage your debts - from reputable debt relief companies.
Typically, debt consolidation allows you to make one, consolidated and manageable payment to a credit counseling agency. The goal with debt consolidation is, with a more structured and more affordable repayment plan, you can ideally reduce your debts sooner than if you only continued to make the minimum payments at higher interest rates.
In addition, many consumers consider debt consolidation to be a popular alternative to bankruptcy, which is also a form of debt relief, but one that has a more damaging and longer lasting consequence on personal credit.
To review debt relief alternatives to bankruptcy in California and to get a free debt relief estimate and savings analysis - simply answer a few, basic questions. It's free and there's no obligation.
Debt Consolidation Through Credit Counseling
Debt consolidation through credit counseling, or a debt management plan (DMP), is a proven and legal way for many consumers to get relief from credit card debts and other types of unsecured debts - such as medical bills, department store charges, or utilities. Before choosing a credit counseling service, however, it is smart to understand how it works, and how it can potentially help you reduce the total amount of your credit card and unsecured debts.
Facilitated by credit counselors, debt consolidation generally begins with a review of your financial situation - taking into account your income, outstanding financial obligations, and other assets (if any). Once credit counselors have a clear picture of your finances, they will typically develop a strategy to help you pay off your debts sooner than if you only continued to make the minimum payments at higher interest rates.
When they have a game plan in mind, they will generally submit proposals to credit card companies, on your behalf, requesting lower interest rates, and waiver of late fees and other penalties. Creditors that accept the proposals are added to the debt management plan. Credit counseling agencies, in turn, will distribute those funds to creditors that are in the plan.
Find Relief Through Consolidation
As mentioned previously, the goal of debt consolidation through credit counseling is to provide you with a single, more structured, and more lenient repayment plan that can, ideally, help you direct more of your payment into paying off the principal on your credit cards versus just the interest. For many consumers who are struggling to pay off their debts, debt consolidation or debt management may be ideal as it gives them a more structured, more affordable, and more predictable payment plan.
In addition, aside from requesting proposals to your creditors, reputable credit counseling agencies may even provide you with a due date (or the time funds are taken from your account) that takes into consideration when you get paid.
Compare Debt Relief Companies
The bottom line is, debt consolidation is one of several methods that debt relief companies offer that allow many individuals a way to tackle and reduce their debts without seriously damaging their credit history - the way that bankruptcy typically would. That's why it makes sense to find out how much savings you can potentially get with debt relief using debt consolidation through credit counseling - and find out how you can finally get your financial life back on track.
Click here for a free debt relief analysis and savings estimate.