Could Debt Relief Help You Get Out of Debt Faster and Save? Find Out with Your Free Debt Analysis and Savings Estimate
Pay Off Debt Help
Are you an Ohio resident struggling to pay off debts such as credit cards and other unsecured debts such as medical bills, gas cards, or department store charges? If you have trouble keeping up with your credit card debt payments and need a proven way to get out of debt and payoff credit cards at an accelerated rate, there is some good news: You may be able to save a substantial amount of money by consolidating your debts. This may not only help to simplify your finances and remove stress, but also payoff debts faster and save money each month as well.
See how debt relief can help you find a way out of debt. Answer a few, simple questions to get a free debt relief estimate and savings analysis - at no cost to you.
Many individuals and families are struggling with debt, in many cases due to loss of income, illness, or other personal hardships. Fortunately, there are a variety of debt relief options to compare, including debt management, debt settlement, and debt consolidation. Debt consolidation typically involves combining, or consolidating, multiple, high-interest credit card debts and unsecured debts into a single, more structured, and more manageable monthly payment. Another viable option is in the form of debt settlement - a fundamentally different approach than consolidation as it involves settling or negotiating with credit card companies, with the gaal of "settling" debt for substantially less than what you originally owe. Regardless of the debt relief option, the goal for most people is usually the same: To get out of debt or get rid of debt in the most reasonable way possible, and in the shortest time frame
Today, these debt relief options have become popular alternatives to bankruptcy - which can have a more damaging and longer lasting impact to one's personal credit.
Benefits of Consolidating Debts
If you are overburdened with credit card debts and other types of unsecured debts, you can be assured that you do have many proven options when it comes to finding debt relief. A popular approach is debt consolidation, or what many people refer to as a debt management plan (DMP). As mentioned earlier, debt consolidation typically involves consolidating your high-interest credit card and unsecured debts into a single, more manageable, and more structured monthly payment made to a credit counseling agency.
When you enroll in a debt consolidation program, credit counselors review your debts and try to determine how much money you can reasonably allocate to paying off your debts. Then, they typically develop a strategy, which includes submitting proposals to your creditors on your behalf, requesting reduced interest rates and the waiving of late fees and other penalties. Creditors that agree to extend more favorable and lenient payment terms are placed into a debt management plan. For those creditors who do not agree to extend the benefits of debt relief, debtors are still required to live up to the terms of their original agreement.
The goal with debt consolidation is: With a more structured and manageable payment plan, you can, ideally, direct more of your payment towards paying off the principal balance of your debts versus just the interest. This type of approach, when followed faithfully, can help you pay off your debts at an accelerated rate.
To find out how debt relief can help, request a free debt relief analysis and savings estimate. It only takes minutes!
Debt Settlement: A Viable Option. Get the Facts.
Depending on the type of debt that you have, you may be able to find relief through debt settlement - with the goal of negotiating with creditors to pay significantly less than your original debt amount. While this approach has helped many consumers manage their debts better, keep in mind the potential risks:
As the term "debt settlement" suggests, credit card companies are certainly not legally required to "settle" or accept your settlement proposal. In many cases, you will be advised to stop making payments on your credit cards to save up funds, over a period of time that you can later use to make a reasonable settlement offer.
As a result of "non-payment," creditors may threaten to sue if you default on the terms of your credit card agreements. In addition, many consumers who default on the terms of their credit card agreements typically experience a decline in their credit scores. In addition, money saved via debt settlement is also subject to federal taxation.
Despite the risks involved in what is the more aggressive debt relief strategy, debt settlement remains a popular debt relief alternative, particularly for those who want an option other than bankruptcy - which, as mentioned previously, can have a more serious and longer-lasting effect on your personal credit.
A Debt-Free Life
Imagine the day when you are finally able to say that you are debt-free. For many consumers struggling with credit card and unsecured debts, the goal is to finally reach that point when all their debts have been paid off and they have a new lease in life. For some, consolidating their debts may be the way out of debt, while for others, debt settlement may be the right approach. But regardless of which option you choose, make sure to do your due diligence. In addition, even if you decide not to pursue a structured debt relief plan it is critical to take control of your financial future by properly budgeting, spending within your means, and doing everything possible to pay down your debts so you are not captive to debt for years and years.
If are ready to explore the potential benefits of debt relief, begin by answering a few, simple questions and receive a free debt relief estimate and savings analysis.