That’s right! Absolutely no fee’s until we have reached an agreement with your creditors and you are satisfied and give the “Go Ahead” to approve the deal. What could be better than that? How about NO LUMP SUM payments? If you had the money you wouldn’t be looking for help. We get it and will make sure your creditors do also. The settlement we reach with your  creditors will be made it payments that YOU can afford NOT what the creditors are asking for. It’s suits them better in the long run if you are able to make the payments and not miss any because they are too high. We will make sure ALL payments made on remaining balances will be affordable and within YOUR budget. And we will make sure your credit score isn’t beat up because of this problem. Call today for your GET OUT OF DEBT plan! 1-877-223-2999

Which debt relief option should you choose – Debt consolidation or settlement?

If you’ve accumulated a number of unpaid credit card bills it’s most likely your in search of debt relief options that can help you get back on financial track. Accumulating too much credit card debt can have a detrimental impact on your life and affect your credit score. A couple of debt relief options that are available in the US are debt settlement and debt consolidation. It’s up to you to choose the best one that fits your present financial conditions. If you’re wondering whether to consolidate your debts or to settle them then read on.

How is debt consolidation different from debt settlement?

Debt consolidation and debt settlement are two different debt relief options that have nothing in common other than helping you climb out of the debt cycle. When you choose to enroll yourself in a debt consolidation program you’ll have to repay the entire debt amount that you owe. It’s often compared to borrowing from “Peter to pay Paul.” The debt consultant will negotiate with your creditors to lower interest rates so that you may repay the ENTIRE debt amount in a single and affordable monthly payment. Even though you repay your debts it will be notated on your credit report that you had to use a 3rd party to do so.

Debt settlement is different from debt consolidation because you’re NOT repaying the entire amount to your creditors. This particular debt relief option is chosen by those who have few options beyond bankruptcy but want to repay their debt if possible and stay out of bankruptcy. In debt settlement, the consultant will negotiate the entire balance with your creditors and waive off a portion of your balance so that you can pay off your debts with ease. Many accounts are settled for 60% less than the original balance. This will also be noted on your credit report as “settled.”

Does debt settlement have any disadvantage?

Debt settlement hurts your credit score but the impact is far less if compared to bankruptcy. This happens partially because you do not repay your debts in full and will be reported to the credit bureaus as such. Also, since part of your credit card debt will be forgiven, you may have to pay tax’s on the amount that is forgiven. But this amount will be far less than the amount of total debt that was forgiven.

So, if you’re knee-deep in credit card debt and you must choose either debt consolidation or debt settlement know how both work before making that commitment. Although there are many debt relief options you may choose from always be sure to choose the most appropriate one that suits your own personal financial needs.

by Jenney Roberts; Edited by John

Harassing collection calls, rising debt, struggling to keep a roof over your families head and food on the table, trouble prioritizing your debt payments? If you suffer from any of these ailments please call we can help. By the end of the phone call you will know what your best options are and what your plan is to tackle this problem.  1-877-223-2999

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