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HomeBlog Debt ReliefIs Debt Settlement A Good Idea?
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Is Debt Settlement A Good Idea?

May 11, 2012 by Adam Tijerina

Credit card debt is not something that people like to carry with them. As interest rates go up, the rising monthly payments make it difficult for a consumer to meet all of his obligations. It is important for a consumer to understand his options when it comes to handling debt.

Debt Consolidation Challenges

One popular option is a debt consolidation loan. But a loan is just another form of financing that moves your debt from one account to another. It does not address the underlying issue of reducing and eliminating the credit card obligations.

Debt consolidation loans require a good credit score to get an interest rate that will help the situation. Many people that are looking for debt relief have had challenges with making credit card payments and that has lowered their credit score. As convenient as a consolidation loan sounds, it is not the ideal solution.

Using Debt Settlement

Another popular debt relief option is debt settlement. This is the process of reducing your debt by negotiating a lower payoff balance with your creditors. Consumers should contract with a professional debt negotiation organization to start an effective negotiation program.

A debt negotiation organization will work with your creditors to reduce your balances, and avoid bankruptcy. It is a process that addresses your debt issues directly and develops a realistic plan to pay off your obligations at one of the lowest costs possible.

Debt Settlement Can Fit Your Budget

You and your debt negotiator start the process by examining your personal budget. In order to help you, the financial professional needs to know what payments you can afford. After a comprehensive analysis of your finances, the debt relief expert knows what plan to develop that will fit your budget.

It can be frustrating when credit card debt starts to rise out of control. The first thing a debt negotiation firm does is stop the debt collectors from harassing you. These experienced professionals know how to talk to your creditors to make sure that the debt does not get out of hand.

The Benefits Of Debt Settlement

No Credit Score Requirements

When you go through a professional debt settlement program, you do not need to have good credit. These financial experts understand the challenges of a falling credit score. Their goal is to help you rebuild your credit rating by stopping the damage that your current credit accounts are causing.

No Loans Required

There are no loans required with debt negotiation. The plan you are presented with is one that was negotiated with your creditors by your financial expert. Rather than moving your debt around from one creditor to another, your debt relief professional is helping you to attack the debt directly and eliminate it completely.

No Experience Required

Applying for a debt consolidation loan can get complicated and frustrating. The debt settlement process is much easier and does not require you to know anything about lengthy loan contracts. The debt settlement professional will explain the entire process to you and let you know what your monthly payment will be.

No Accounting Required

When you are applying for a debt consolidation loan, you need to make sure that the loan interest rate is low enough to make the program worth your while. With debt settlement, you will not need to do any complicated accounting procedures. Your negotiation program is based on the decreased balances of your existing accounts. The settlement process produces the results you are looking for without having to calculate the effects of a new loan.

Debt Settlement May Be The Right Choice For You

We are experts in the field of debt negotiation and settlement. We will work with you to develop a comprehensive outline of your financial situation, and then negotiate a settlement with your creditors that fits your budget. We encourage you to call us immediately, and let us show you the many different ways that debt settlement will help you to get your credit card debt under control.

Do you qualify for debt consolidation?

Adam Tijerina
Adam Tijerina

Adam Tijerina is a personal finance expert for National Debt Relief, a BBB A+ accredited business offering debt settlement services since 2009. Adam knows a thing or two about debt resolution after successfully settling $43,250 in credit card debt on his own. He has also co-authored two books about overcoming adversity and has been featured on Credit.com and USNews.com. Adam holds a Bachelor’s Degree from Trinity University and lives in Texas with his wife and four children.

Follow Adam Tijerina: Linkedin

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"The first program I looked into said that they couldn’t work ..."

[email address is thomassabrina21@yahoo.com] Easy National Debt Relief Caller: Nocona Transcribed WE 2/28/2021 Nocona: The call is recorded. Tell me a little bit about how you found National Debt Relief, and why you chose their program over some of the others that are available. SABRINA: Okay. Well, they were the second program I looked into. How did I see them? I think, a random email or something like that. I found them myself on accident. But they’re the second one. ‘Cause the first one said they couldn’t work with people in Washington State. I have no idea why. And then, they said the state couldn’t do that. And then, I found National Debt Relief, and they were like, “I don't know what they're talking about. We can and we will.” And they did, and they're doing an awesome job. Nocona: Can you tell me a little bit about what communication is like, how you feel about customer service, and what they were like to go through this process with? SABRINA: The initial process was easy. And the person was very competent and reassuring, too, because I needed to be reassured. And then, all the customer service since then, if I need to get ahold of them, I give them a call, and they answer. And it's stellar performance on their staff. And when they see a problem, anything, they give me a call too. Nocona: So they’re pretty proactive when things come up? SABRINA: Yes. Nocona: Is there anything at all that you think they could be doing to make the customer experience easier or better, anywhere you'd like to see them make changes? SABRINA: No. I don't see how they could improve. They're great. They've taken so much weight off my shoulders, you don't even know. Nocona: I think I know, probably, how you’ll answer, but I have to ask. If you could rate the program that you've gone through, between one and five, five meaning you'd recommend National Debt Relief to other people, one meaning you're very dissatisfied, how would you rate them? SABRINA: A 5. And you are correct, you did know. [Laughs] Nocona: Do you have any advice for people that have to go through this kind of experience, anything that you think is helpful to be aware of upfront? SABRINA: Just to make sure you have all your bills, that you know what you want, even though you can add later. So it's really not that big of an issue, because you can call them back. But the original adjustment of how much money is going to be taken out and stuff, it’s best if you just have it all together in the first place. Nocona: So, be prepared when you’re going into it. SABRINA: Yeah. In fact, when I first started doing it, I was having them take it out twice a month or something. I forgot. Anyway, I changed it to where they only take it out in the beginning of the month, all of it. And that happened immediately with zero issues. So like I said, they work really well with you, and they listen to you, and they get things done. Nocona: Is it okay if we share your comments as a review for National Debt Relief to help people that are thinking about going through a program like that? SABRINA: Yeah, feel free to. Because if they’re having issues I would recommend this business up and down the block. Nocona: When we publish a review, we just use your first name. We don't publish last names or any contact information. And I'll send you a one time link to the review. That way, if there's something you need to add, or if you want to make an update or change as your experience evolves, you're welcome to do that. I have thomassabrina21@yahoo.com. Is that the right address for you? SABRINA: That is correct. Nocona: The call was recorded.

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