Is Debt Settlement A Good Idea?

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.