Do you want to know if debt settlement is the best option for you?
Debt settlement maybe your best option, however, let’s look at some of the other get out of debt options available.
Number one, a debt consolidation loan.
Getting a debt consolidation loan is usually one of the first options that people try when they’re trying to get out of debt.
The reason why is because if you qualify for a larger loan amount with a lower interest rate, then you could transfer your higher interest rate and your higher balance credit cards or loans onto the new consolidation loan and that in return is going to lower your monthly payments and be able to help you save a little bit more and then pay off that big loan amount with a lower interest rate.
The downside to this is it doesn’t always go according to plan.
The reason why is because most people can leave their high-interest rate credit cards still open, leaving them available to use, and if they use them, then they’re actually increasing their monthly payments overall, and it’s overextending themselves financially, and giving them a higher debt to income ratio, which is gonna allow them to have a harder time qualifying for a loan in the future.
Number two, debt settlement.
Debt settlement may be a good option for you if you’ve overextended yourself financially and you just can’t afford to pay what you owe anymore.
Also, if you’re struggling with the burdens of making your monthly payments to your creditors with those high-interest rates, and you’re really taking home nothing for your needs such as groceries or your utilities or things of that sort.
Debt settlement is a program where you enroll your unsecured debts, and they help negotiate down your debts with your creditors on your behalf.
Usually, that helps you with a lower monthly payment, so that gives you a little bit more in your savings account to help you with your bills every single month.
And there also are debt settlement programs out there that if you’re in the program for six months consistently saving, then they will help you qualify for a loan if you meet the requirements, like Alleviate Financial Solutions.
Number three, bankruptcy.
Bankruptcy is an option that most people are already aware of and the damaging effects that it can cause on you financially.
Make sure you speak with a debt expert or an attorney to make sure that this is the right option for you before moving forward with bankruptcy.
If you feel like you’re struggling with the stress of minimum payments every single month and it’s just going to high-interest rates, or you just feel like you can’t afford to pay what you owe anymore, visit us on our website at alleviatefinancial.com to see if debt settlement is right for you.
How 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 24-48 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.
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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 are 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.
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. 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. 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.
Schedule Your Free Debt Analysis
Enroll Into Our Debt Relief Program
Negotiations & Settlement
Debts Resolved!
Your debts will be resolved in a few short years or even months so you can have a new beginning financially.
