Here’s What You Need to Know About California Debt Relief Services
Many people in California are struggling to make ends meet with the high cost of living and lack of jobs. With this constant stress, it’s no surprise that many Californians have fallen behind on their bills. It is estimated that over 1 million Californians will declare bankruptcy this year alone! That number has been steadily increasing for years as more families fall into financial distress. But there is hope! There are debt relief services available specifically designed for residents of California who need help getting back on their feet financially.
Debt relief services can offer a variety of solutions including:
1. Debt Management Plans
Debt management plans are the most popular debt relief service in California. Debt managers work with both creditors and consumers to help establish a payment plan that is affordable for all parties involved. This helps reduce financial stress, which often leads to more serious problems as well like sleep deprivation or trouble eating properly.
2. Debt Settlement Programs
Debt settlement programs help consumers negotiate settlements with creditors. They’re a good option if you have large amounts of credit card debt and can’t afford to pay it off in full. Negotiating an affordable payoff amount helps avoid the risk of bankruptcy, while making sure that your monthly payments are still reasonable.
3. Debt Consolidation Loans
Debt consolidation loans are usually one of the first options that consumers will try before considering a debt relief program. This type of loan is designed to help pay off high-interest credit cards or other unsecured debt. Debt consolidation loans usually have lower interest rates and make monthly payments more manageable, which can save you money in the long run.
4. Credit Card Relief
Credit card relief is different in that it doesn’t consolidate your debt but rather settles your outstanding debt. This is a great option if you cannot afford to pay what you owe. The only thing you have to do is contact a credit card relief company and they will work with your creditors for you. They’ll make arrangements that are agreeable to everyone involved so the debt can be settled in one lump sum.
If you are in California and considering debt relief because you cannot afford to pay what you owe, contact us to see if you qualify for debt relief.
Resolve Your Debt Today
If you have thousands of dollars in debt, achieving debt relief can open the door to expand your financial freedom. You have to first settle your debt by hiring a debt settlement company.