Maybe you’re not heavily in debt. If so, congratulations. You belong to a group that’s becoming increasingly smaller as more and more Americans sink into debt. In fact, one recent study revealed that the average American family is carrying a total of $35,800 in total debt. And, of course, some are carrying even more than that.
No painless way
If you’re struggling with debt – meaning that you owe $15,000, $30,000 or even more in unsecured debts, we have bad news. There is just no painless way to get out from under that kind of debt in a short amount of time. In fact, if you don’t do something positive about that debt, the problem is only going to get worse because you’ll be paying interest on top of interest – and never reducing your balances owed.
So what is debt relief?
There are several different ways you can get relief from your debts. The most common of these are a debt consolidation loan, a debt management plan or bankruptcy. While debt consolidation and a debt management plan could help you get out of debt, neither of these can reduce the amount you owe. If you owe $15,000 and choose a debt management plan or a debt consolidation loan, you will still owe the $15,000. The big difference is that you will have moved that debt from one set of creditors to another. You should end up with a lower monthly payment than the sum of the monthly payments you’re making now but that’s due to the fact that you’re “stretching out” the time it will take to pay back those debts to five years or even longer.
A fourth option in debt relief
There is a fourth way to get debt relief and that is with a debt relief or debt settlement program. This is something you can do yourself and can actually get your balances reduced. The way it works is that you fall behind or become unable to make the payments on your unsecured debts (credit card debts, personal loans and medical bills) for at least six months. You then call your creditors and offer to settle your debts for much less than the full balance. Believe it or not, many of your creditors will accept that offer. Why? It’s because they would rather get a portion of what you owe than see you file for bankruptcy.
To make this work
If you have the courage necessary to contact your creditors and negotiate down your balances, there is one thing you need to make this work – cash in hand that you can send your creditors immediately. The reason for this is because it’s a bargaining chip. You’re asking your creditors to reduce your balances, in return for which you agree to immediately pay off what you owe. For example, if you originally owed a total of $15,000 and can negotiate it down to $7,500, you must have the $7,500 in hand to make this work.
A debt relief company
Since most people who are heavily in debt don’t have $7,500 or $10,000 or more in cash, they are choosing instead to hire a debt relief company such as National Debt Relief. There are several advantages to working with a debt relief company. First, we have debt counselors who have great working relationships with the credit card companies and can negotiate your debts down as much as possible and probably save you thousands of dollars. Second, with National Debt Relief, it’s not necessary to have the $7,500 or $10,000 cash in hand as you never pay us in a lump sum. Instead, each month you send us the amount of money you would have paid on your debts. We put this money into a trust account that you control. Once all your creditors have agreed to settle – and you approve your payment plan– we then use that money to pay off your debts.
How could we help
How could we help you? There’s only one way to find out and that is to call our toll-free number for more information or fill out the form on the right side of this page to get a free debt analysis and estimate. We believe you’ll be glad you did.