Get Rid of Debts or Pay Off Debts Faster and Save. Get Your Free Debt Analysis and Savings Estimate
Every day, consumers in California and nationwide are struggling with high credit card debt, needing a way to lower or reduce debt, get out of debt faster, or get rid of credit cards and other unsecured debts. Many people feel like they are on a debt treadmill with little hope of ever putting debts behind them! Often debts from credit cards and other unsecured debts (like medical bills, store cards, gas cards, etc.) result in mental and emotional anxiety among many individuals and families in debt.
If you are also experiencing financial hardship and are no longer able to pay off your debts, or falling behind, or just paying the monthly minimums, there is some good news - you have several options when it comes to debt relief, including debt consolidation, debt management through credit counseling, and even debt negotiation or debt settlement.
To explore your debt relief options, request a free debt relief analysis and savings estimate today. There is no cost to you.
A credit counseling agency can typically work with you to consolidate all your debts and combine them all into a single, more structured, and more affordable payment plan. While debt consolidation can be a good solution for many consumers, there are other debt relief options available, including debt settlement, which can significantly reduce the amount of money you owe to creditors.
Both debt relief options have become, for many consumers, popular alternatives to bankruptcy. While bankruptcy can also help clear credit card debts, it also has a more damaging and longer lasting impact to personal credit.
What You Can Expect With Credit Counseling
Facilitated by credit counselors, debt consolidation typically begins with a one-on-one consultation where they review your finances and outstanding obligations. After credit counselors determine how much money you can reasonably allocate to paying off your debts, they typically create a relief game plan and speak to your creditors asking for more lenient payment terms - such as reduced interest rates or waiver of late fees or other penalties. Creditors that accept the proposals are then placed into the debt management plan, or DMP.
The goal is, with a more lenient and simplified payment plan, you can, hopefully, pay off your debts faster than if you only continued to make the minimum payments at higher interest rates. For many consumers, having a simplified and more predictable payment plan is certainly preferable than having multiple, high-interest debts to manage and deal with every month.
See how debt relief can help you. Answer a few, simple questions to get a free debt relief estimate and savings analysis - at no cost to you.
Debt Settlement: Another Viable Option
As a form of debt relief, debt settlement is a fundamentally different approach than debt consolidation through credit counseling. Unlike credit counseling where you pay off the entire amount of your debt, with debt settlement, you are hoping to negotiate with creditors for substantially less than what you owe.
However, your credit score will typically decline because debt settlement involves "falling behind" on your credit card payments so that you can save funds to use to make a settlement offer. When you skip payments, you are, essentially, defaulting on the terms of your credit card agreements and may face legal action from your creditors.
However, in spite of the risks to your credit, debt settlement is still a popular alternative to bankruptcy - which has a more devastating and longer lasting impact on your credit.
Get a Fresh Start With Debt Relief
If you are overwhelmed with credit card and unsecured debts, you can breathe a little easier because you have several debt relief options available. Keep in mind that because every individual's debt situation is unique, it is a smart move to compare and contrast all your debt relief choices, and do your due diligence when selecting a company to work with. It may also be a good time to take an honest look at your spending habits, or create a realistic budget for you and your family.
The bottom line is, there is help available to you if you want to pay off your debt. You can begin to take the next step in regaining control of your finances whether by way of debt consolidation through credit counseling (or debt management) or debt settlement.
Make the smart move and request a free debt relief estimate and savings analysis today.