As Economy Picks Up Speed, Americans Pick Up Pace of Unloading Personal Debt
LOS ANGELES, CA, March 05, 2018 /24-7PressRelease/ — Debt consolidation and credit card debt relief programs have become increasingly sought after and used by more Americans as they seek to gain a more stable financial footing and a leg up in today’s economy. The reality is that many more still can benefit from these debt help programs.
The issue of personal debt and staying on top of it (rather than drowning in it) is of the utmost of importance. When a person finds it increasingly difficult to make those monthly payments then it’s time to reassess their debt management plan. Most Americans know the basics – spend less, save more, budget, etc. but what to do when meeting one’s monthly debt payments is impossible or nearly impossible? Fortunately, professional help with debt is available.
There really is no one size fits all solution when it comes to getting rid of debt, therefore it’s important to explore all options and service providers before settling on the one program that best meets one’s needs. These programs include the following:
Debt Settlement — In this debt relief program, a debt relief firm or law firm that specializes in debt settlement negotiates with a person’s creditors in an effort to get the creditor to agree to accept less than the amount originally owed as full payment. The savings can be considerable. Another upside: creditors and debt collectors will no longer hound a person for the money as the debt will be settled.
Debt Consolidation –This type of debt management program may involve the taking out of a loan to payoff existing creditors and then make a single monthly payment on the new loan. However, taking out a new loan to pay off other loans is not the right solution for everyone. Debt consolidation can also be done without the need for taking out a loan whereby a single payment is made to a debt relief provider who then distributes the funds to a person’s various creditors.
Bankruptcy — This debt relief program offers options for both the liquidation or sale of a person’s nonexempt property and distribution of the proceeds to creditors (Chapter 7). In addition, individual debtors who have regular income may seek an adjustment of debts either by reducing the debt or by extending the time for repayment under chapter 13 of the Bankruptcy Code.
The good news is that debt relief is an option today for many today and may be just a click or phone call away.
National Debt Relief Program offers a free debt analysis which may be taken advantage of at their website:
For the original version of this press release, please visit 24-7PressRelease.com here