Have you been working endlessly to lower your debt but just can’t seem to make any progress? When huge credit cards and unsecured debt are having a negative impact on your daily life, the relief of debt resolution could be a way to regain control.
Debt resolution services from Alleviate Financial help people in situations just like yours every day. With the assistance of experts in debt relief services, you can get back on track financially.
Our experts not only help craft a plan to alleviate your financial burden, they also negotiate on your behalf with your creditors to revise your repayment terms. Let’s look at how debt resolution services could be your debt recovery solution.
One Payment for Consumers to Get Out of Credit Card Debt
Credit card debt is one of the hardest types of debt to escape from. In fact, today, the average American has about $15,000 in credit card debt, which adds up to hundreds of dollars each month in interest charges. These charges compound if your balance is carried over from one month to the next.
This is why many people who fall behind on credit card payments find debt settlement services to be one of the best options. It can be tough budgeting for multiple payments that can fluctuate from month to month.
By combining all of your credit cards into one payment, you’ll know what to expect so you can plan to pay on time.
Stopping Debt Collector Calls
If you fall behind by even one payment with your credit card companies, collection efforts will begin. Frequent phone calls and letters demanding payment start pouring in. All it takes is a few months of late payments for legal action to become a threat.
After enough time passes without paying your credit card bills, the lender will eventually hand the debt over to a collection agency for pennies on the dollar.
Once your credit card debt is sold to a collection agency, harassing phone calls can become a major issue. Because the primary role of a debt collector is earning as much as possible, many will push the limits of the law when it comes to collection calls. Debt resolution puts a stop to all of this so you can focus on turning things around.
Protecting From Damage to Your Credit Report
Another benefit of leveraging debt resolution services is the potential protection of your credit rating. There are a few ways this can be the case. Let’s look at each next.
Avoid Bankruptcy
By providing an alternative to bankruptcy, debt resolution can help you alleviate the financial stress without hurting credit as much. Unlike bankruptcy, most debt resolution programs won’t show up on credit reports.
What will show up is late payments on your unsecured debts, which could lower your scores during the savings phase of the program. This is a minor price to pay in comparison with the 10 years that bankruptcy remains on your credit, dragging your score down.
Reduce the Risk of Collections
If you have credit card companies that are willing to participate in your debt resolution program, you can avoid collections. This helps prevent further damage to your credit rating and provides an opportunity to turn things around before legal action is taken.
Possibility of a Delete Agreement
When collections accounts are part of your debt resolution program, there’s a possibility you could get the bad mark deleted from your credit report. Sometimes, collection agencies will agree to delete the account from your credit in return for payment. This could potentially provide an immediate boost to your score.
Long-Term Financial Benefits of Debt Resolution Services
Putting an end to debt collection calls is a welcome relief that debt resolution provides. However, there are some long-term financial benefits you might enjoy as well. Here are a few to consider.
Save Money on Monthly Interest Charges
When your credit rating improves more quickly, so does your access to better interest rates. Debt resolution helps you recover faster from financial trouble, leading to more on-time payments and higher credit scores. In turn, you’re able to get better lending terms and interest rates, saving you thousands over the course of your financial future.
Improve Your Monthly Cash Flow
A core tenant of financial well-being is positive cash flow. At the end of the day, people get into deep debt because they have negative cash flow — they spend more than they earn. By reducing your monthly payments on your unsecured debt each month, you can get back to cash flow positive, helping you dig your way out of debt.
Ensure Secured Loan Accounts Are Paid
If you start falling behind on your bills, a crucial strategy is paying your secured debts first. That’s because auto loan lenders can send someone to come take your car if you fall too far behind. The same holds true for home lenders.
With credit cards, however, no one is going to come and take your stuff. By lowering your credit card bills, debt resolution helps you pay your secured debt on time so you can still drive to work and have a place to live.
Get The Perfect Debt Resolution Plan For Your Financial Future
If your debt includes credit cards, debt collection accounts, or medical bills, there is hope for becoming debt-free. The debt experts at Alleviate Financial are standing by to help negotiate with creditors on your behalf, securing the best possible resolution of your debt.
Our debt specialists will work ceaselessly to slash high collection account balances and excessive interest charges. As one of the nation’s top-rated debt resolution services, Alleviate Financial is poised to provide you with the perfect debt resolution plan for becoming debt free in less time.
Give us a call today for a free consultation and learn if a debt settlement program is right for you. Our experts will take the time to fully understand your entire financial picture. Then, you’ll be presented with options before you begin your journey with us to become debt free. Call today and take the first step to financial freedom!
