Are you facing a huge amount of debt? You’re not alone. The average credit card debt in the United States is $6,194, and that doesn’t count other debts like car payments, student loans, and more. Making minimum payments can keep you tied to your debt for decades, and the stress simply isn’t worth it. Instead, why not settle your debt once and for all and move forward with a clean slate? This doesn’t require bankruptcy—instead, you can use a debt settlement plan to pay less than you owe but still get full debt relief.
Here are some benefits of debt settlement!
1. You Can Avoid Bankruptcy
While a bankruptcy only stays on your credit report for 10 years — already a long time — it can follow you around for much longer. When you apply for work or other loans, they may ask if you’ve ever filed for bankruptcy before.
You have to answer honestly or you can be prosecuted for fraud. Admitting to bankruptcy can impact whether you get a job, loan, or other benefits.
2. Pay Off Debt in Less Time
Debt settlement allows you to pay less than you owe, but fully settle the debt. You also don’t face increasing interest charges as you pay. That means you can be finished with your debt much more quickly.
Most programs allow you to finish in two to four years if you stay consistent with your plan. That’s decades faster than paying the minimums each month.
The sooner you get debt help, the sooner you can start building strong financial habits and move forward.
3. Only Pay One Payment Per Month
When you’re overwhelmed with debt, you’re managing a lot of payments at once. You might have several credit cards, for instance, each with different minimum payments and due dates. If you’re overdue, you might also be dealing with calls from debt collectors.
Keeping all of those straight is hard! When you get financial assistance with a debt settlement program, you can make one payment once a month toward your balances. That’s much simpler, and you don’t have to worry about missing payments or dates.
4. Start Pursuing Financial Goals
Managing debt and making significant payments means that you have to put the rest of your financial goals on hold. Unfortunately, there’s often no end in sight.
When you go through debt settlement, you still make payments for the program, but for just a few years. After that, you are free to pursue your financial dreams without worrying about the debt you owe.
This might mean saving for a home, choosing to travel, or changing your career. If you’re ready to move forward with other financial priorities, debt settlement may be perfect for you.
Get Debt Relief Today!
Struggling with debt is overwhelmingly stressful. Debt relief through a settlement can help you get your financial life back on track more quickly while avoiding bankruptcy.
If you’re ready to get started with other goals, we’re here to help. Get started with debt settlement today!