- IRS debt or back taxes
- Utility bills
- Auto loans, government loans, or student loans
- Mortgages or home loans
- Other secured debts*
Debts We Can’t Settle
If you have not been able to make payments on your credit cards or other debts for four, five, six months or more, you may be a good candidate for debt settlement or, as it is sometimes called, debt relief. And debt settlement can be a very good option because it’s the only way that you can get both your debt and interest rates slashed. However, to be a legitimate candidate for debt relief, you must have suffered a real financial hardship that has caused you to miss those payments or that will cause you to miss them in the near future.
Debts we can’t settle
While National Debt Relief can settle many kinds of debts there are some the company can’t. It cannot settle mortgages or second mortgages, student loans, auto loans, IRS or back taxes, lawsuits, government loans or any type of secured debt.
Note: There are some certain situations when NDR can help with certain secured assets:
- The secured assets have been repossessed or have no value any longer (totaled car, 2nd mortgage on a foreclosed home).
- Consumers no longer have a use for the asset and do not care if it is repossessed.
National Debt Relief can settle any type of unsecured debt. These are debts that haven’t been secured by an asset such as the equity in your home. Unsecured debts the company can usually settle include credit card debt, personal loans, medical bills, lines of credit, business debts, and collections or repossessions.
How National Debt Relief can help
If you would like National Debt Relief’s help in settling your debt, you will need to first fill out the free debt analysis form on the company’s homepage. If we sincerely believe that we can help you, a National Debt Relief debt arbitrator and our attorney offices will take over all communications with your creditors. While we cannot promise that they will stop calling you, we can help. You will need to take down the names and phone numbers of any collection agencies that continue to call you and then give this information to our negotiator. He will then contact the creditors and discuss the issue on your behalf.
Our debt negotiator will contact all your creditors to negotiate settlements so that you will end up paying only a fraction of what you owe.
You will be set up with a monthly payment plan based on what you’re able to pay. This money will be put into a trust that you’ll manage and that will be used only to pay off your debt. This is never done without your authorization–whether verbal or written.
No upfront fees
An important benefit of working with National Debt Relief is that the company charges no up front fees. In fact, you pay nothing unless the company is able to negotiate settlements and you approve them. This is in stark contrast to some other debt settlement companies that require big upfront fees and then not deliver on their promises.
Some things to consider
It’s important to understand that debt settlement will have an effect on your credit and credit score. Debt settlement doesn’t work unless you have stopped paying your creditors for five, six or more months. This will go on your credit report and will have an effect on your ability to get credit but only in the short term. This is in comparison with bankruptcy, which can stay on your record for seven to 10 years and prevent you from getting any sort of new credit.
Before you choose any debt settlement company, including National Debt Relief, it’s a good idea to meet with one of your local consumer credit counseling agencies. These agencies often offer their services free. One of them might be able to help you develop a budget and a payment plan that would help you get your debt under control and without it having a negative effect on your credit – as would debt settlement or filing for bankruptcy.