So, can you settle your debts with Wells Fargo? If you are in financial hardship and you cannot afford to pay what you owe and you have an outstanding debt with Wells Fargo, I would recommend talking with debt experts.
Wells Fargo is working really hard to make sure they receive the best settlement possible. According to the Consumer Recovery Network, they can be really hard to work with to get a decent settlement and recommend getting full-service help.
Even though we cannot guarantee that Wells Fargo will settle your outstanding debt, having a good team behind you is important.
Working with a good debt settlement program can have their top negotiators talk with Wells Fargo to see if they can negotiate down your debts on your behalf so that you can receive the best settlement possible.
Having someone in your corner talking with your creditors could even save you thousands. If you would like more information about debt settlement or debt relief, check out our services and know your options.
How Do Debt Relief and Debt Settlement Work?
Debt relief and debt settlement is a negotiated agreement by which a creditor accepts less than the total amount owed to legally satisfy a debt. Settlement programs typically last 24 to 48 months and are highly dependent on factors such as delinquency, creditor policies, the number of accounts, and the total dollar amount of the debt.
Debt settlement services have existed in some form since the advent of debt itself. The modern industry has seen significant growth in the 21st century, largely due to the easing of lending requirements by financial institutions.
In addition, today’s borrowers are taking on significantly more debt than their parents had at a similar stage in life and are subsequently paying off that debt at a slower rate. These large debt loads and slower payoffs, coupled with today’s high-interest rates, mean that without intervention many borrowers could be paying off these loans for decades.
While there is a multitude of interwoven causes for these trends, industry experts point to increased access to larger amounts of credit coupled with a reduction in the social stigma of being in debt.
What Makes a Good Debt Consolidation Company?
Debt consolidation is a smart way to bring your debt under control for long-term financial health. That’s why finding the right debt settlement program and consolidation company is a crucial first step on the long journey to becoming debt-free.
So what are some of the best qualities to look for when you’re considering debt settlement companies?
Non-Profit Organization
Debt settlement companies that are formed as non-profit organization is one good sign that they’re out for your financial best interests. Sometimes these debt settlement companies can offer alternatives to debt settlement, such as working out a credit counseling plan to reduce minor issues like late fees and over-the-limit charges.
In Business for Many Years
Top debt settlement companies continue in business because they get results and treat their customers with respect. The best debt relief companies are masters at reducing the total debt that their customers come to them with, which helps build a sterling reputation that keeps them running for years.
Alleviate Financial has been providing unparalleled debt relief services for seven years now, a testament to our status as a reputable debt settlement company.
Have a State License
Leading debt relief companies will always have a state license, so be sure to check into this when you’re first starting to search for help with debt relief.
Charge No Minimum Fees
One red flag for consumers is when debt settlement companies ask for minimum upfront fees to get started. Look for a company that focuses on helping you reduce your monthly payments without paying them first.
Excellent Client Reviews
Of course one of the best indications that you’re dealing with a debt settlement company that fights for your financial freedom is a long list of excellent reviews from clients.
Solid Better Business Bureau Rating
Reviews can be very helpful when vetting debt settlement firms, but it’s important to still look into their rating with the Better Business Bureau. This can help identify companies that may have false or misleading reviews.
Clear Language and Action Plan
Your debt settlement company should always provide you with a clear action plan in language that you understand. The world of debt settlement demands everyone is on the same page to ensure the best results and that you’re doing what’s right for your family.
Should I Consider Debt Settlement During a Financial Hardship?
Debt settlement is an industry that can be cutthroat, making finding the right one a grueling task for many struggling small business owners and people with crippling consumer debts. If you’ve been seeking more and more debt as a way to keep going financially, it might be time to reconsider getting off the hamster wheel.
Taking out more loans isn’t always the best solution. Sometimes, the help of a certified credit counselor or debt settlement professional is what it takes to get things back into manageable territory.
What are some of the reasons to consider debt settlement during extended periods of financial hardship?
Avoiding Bankruptcy
Bankruptcy can spell financial disaster when it’s not executed for the right reasons or at the wrong time. And if you plan on needing credit within the next five years, you’ll be out of luck with many creditors.
Debt settlement can help you stay out of bankruptcy so you can turn things back around in far less than five years.
Relief From Overwhelming Debts
Overwhelming debt payments each and every month can wear down your resolve to become debt-free. Once revolving debts like credit cards start the upward spiral, their balances can climb to unscalable heights.
Debt settlement companies can help stop the collection calls and never-ending interest charges.
Repaying Debts in Less Time
Once you get into deep debt and feel its crushing weight, getting out from underneath it can be all you think about. Debt management plans help you deal with credit card companies so you can become debt-free much sooner than later.
Budgeting: How to Prevent Future Debt Accumulation
Much of maintaining a good financial profile comes down to creating a monthly budget. This proven and tested method helps pave a path toward larger life goals such as a long-awaited vacation, investing in post-graduate studies, or purchasing your first home.
A budget can help you by:
- Ensuring you’re prepared for emergencies
- Providing a path to saving for larger purchases
- Preventing you from overextending your finances
5 Simple Tips on How to Follow a Budget
Once you’ve created the ideal budget, it’s essential to stick to it no matter what. Here are five simple tips on how to follow a budget so you can boost your credit score and achieve financial freedom.
Create a Visual Reminder
Keeping a visual reminder handy will help you track your progress with sticking to your budget goals. As the old saying goes, out of sight, out of mind, so make sure to remain ever-aware of your budget standing.
Review the Figures Monthly
After you’ve established a visual reminder of your budget, be sure to carefully review the figures each month. While staying up to date on your progress is a smart daily practice, it’s key to look at the larger picture too.
Plan Towards Experiences Versus Material Purchases
Having a cool new toy in the driveway can be nice, but after a while, the excitement fades. Many studies have found that when it comes to satisfaction with financial decisions, investing in experiences trumps material purchases every time.
Don’t Forget to Treat Yourself
While a budget is meant to help you maintain financial self-control, it’s wise to still treat yourself well from time to time. Creating a budget that’s too strict will create too much temptation to break it, so build in some rewards to motivate you to keep staying the course.
Credit Counselors and Debt Management
The benefits of debt relief are numerous, especially when most of your debt is unsecured, like credit cards and medical bills. Learning to manage your debt is a better alternative to taking out more loans.
Professional credit counselors can play a leading role in helping you resolve your financial strife. The debt settlement process doesn’t need to be a scary thing. The best debt settlement companies can help you navigate these uncharted waters so you can reach a better place financially.
Expert credit counselors are skilled at preparing an efficient debt management program for first-timers. With your debt management plan, they can help you develop financial discipline and cultivate smart financial habits so you can avoid getting back into the same debt crisis in the future.
Schedule Your Free Debt Analysis
Potential clients speak with a certified debt specialist regarding their financial situation. The debt specialist evaluates the caller’s financial situation and suggests the optimal debt relief strategy.
Clients choosing to enroll in our debt relief program are then guided through the enrollment process.
Enroll in Our Debt Relief Program
Signed enrollment documents are processed and the new client receives a call from our team of dedicated account managers to welcome them to the program.
Account managers are available 24/7 and remain in active communication with clients throughout the program.
Negotiations & Settlement
Our talented negotiations team begins working on client accounts immediately. When settlement offers are received they are first reviewed for accuracy and then presented to clients for approval.
This process repeats until all client accounts have been settled.
Debts Resolved!
Your debts will be resolved in a few short years or even months so you can have a new beginning financially. Let us help you achieve financial stability with our debt settlement programs.
Don’t hesitate to speak to a specialist now, contact us at 800-877-2309 at Alleviate Financial Solutions today!
