Living without the burden of debt is one of the smartest financial decisions you can make. But getting out from under heavy credit card balances and other loan payments isn’t always easy, especially if you’re already behind on bills or if your income is below the poverty guidelines that dictate how much you can afford to spend on basic needs. Debt relief options like debt settlement, consolidation and bankruptcy may help ease the load for you.
But there are pros and cons to these solutions that must be carefully weighed. For example, while debt relief can lower your interest rates and shorten the duration of your repayment schedule, it can also hurt your credit score if you stop making payments or pay less than your minimum monthly debt obligation. And some debt relief solutions, such as bankruptcy, carry significant repercussions for your financial future.
The good news is that there are many alternatives to debt relief, including credit counseling and debt management. Some of these programs can even help you reduce or eliminate interest charges and fees, and some can provide debt relief through debt negotiation with creditors and lenders to pay off your unsecured loans at a much lower total amount than you originally owed.
Aside from these personal debt relief options, you may also be able to find assistance through state and local government assistance programs administered by community service organizations. These programs are designed to help low-income Americans get back on their feet financially and avoid foreclosure or eviction. Some programs even offer loan forgiveness for certain kinds of debt, such as mortgage loans, student debt and back taxes.
You might be able to find a debt relief program that offers the services you need through a credit counselor, such as an accredited debt relief agency or credit counselor. These agencies can provide you with a detailed debt analysis, help you develop a budget and work with you to create a personalized debt relief plan that fits your unique circumstances.
There are a number of ways to find the right accredited debt relief agency for you, including reading reviews and checking credentials. A good agency will have a high BBB rating, a customer support team and an established track record of helping clients overcome their debt problems.
National Debt Relief is a debt relief agency with an excellent reputation for delivering exceptional results and outstanding customer service. Its debt relief specialists specialize in unsecured debt, which includes credit cards, personal loans and medical bills. They can often negotiate with your creditors to settle your debt for about 30% of what you owe, and their program is affordable and backed by a money-back guarantee.
The best debt relief programs are aimed at helping you become financially stable again by reducing or eliminating the amount of debt that you owe. In addition to providing a range of other services, such as credit repair and debt consolidation, Fiona is an accredited debt relief company that specializes in offering comprehensive debt relief solutions. Their programs can help you reduce your debts and lower your interest rates, and they’re committed to ensuring that their customers’ experience is as positive as possible.