Finding Effective Debt Relief Services in California

How do you find companies in California that can deliver effective debt relief? For starters, any debt relief companies you’re considering should have accreditation by the Better Business Bureau (BBB), including high ratings and few complaints. But beyond the ratings and reviews due diligence you should do, what other factors are important when seeking debt relief in California?

What to Keep in Mind When You Need Debt Relief

Are Your Financial Issues Temporary or Recurring? 

If your current financial situation is only temporary, you’ll want to choose a debt relief program that’s less harmful to your credit than more aggressive methods. However, if your financial situation is recurring, and you just can’t seem to get on track and stay there, you may want to pick a type of debt relief that’s going to clear more debt away in big chunks, such as debt settlement or bankruptcy.

What Kinds of Debts Do You Have?

A leading factor for what type of debt relief you’ll qualify for in the state of California is the nature of the debt you have. Debts that are secured by homes or vehicles usually don’t qualify for debt relief programs, and neither do student loans. For these types of debt, you’ll need to deal directly with creditors or take the matter to the bankruptcy courts in California.

Do You Qualify For A Debt Consolidation Loan?

Depending on your credit, opting for a debt consolidation loan might be the best decision long term. If approved, you could get a far lower interest rate than those on your credit cards and unsecured debts, saving you money every month and helping you make a bigger dent in your debt with each payment. That said, these loans require good credit scores. What other options do you have if your scores have already dropped? Many turn to debt relief companies in California to have a seasoned expert on their side.

Finding A Legitimate Debt Relief Company In California

If you’re thinking about getting help from a debt relief company in California, the search results can be overwhelming, with many making similar-sounding claims. How do you find a legitimate California debt relief company that will work for your long-term financial interests when dealing with your creditors? And most importantly, what kind of debt relief programs do they offer?

Certified Credit Counseling

Credit counseling is a type of debt relief where you still have to pay your creditors the majority of the owed balance. Credit counseling programs are designed mainly to lower your monthly payments, along with interest rates and fees. These programs are best for those who have decent credit and dependable incomes but have fallen behind because of high interest and over-the-limit fees or a temporary leave of absence from work.

Federal And State Debt Relief Programs 

When it comes to debt relief, there aren’t any federal programs or state programs. The only way the government offers help with debt relief is through the bankruptcy courts of the state of California. This is hardly the best option, so it’s best to consider other forms of debt relief first.

Debt Settlement Companies

Debt settlement is a type of debt relief that can drastically cut balances when you’ve fallen far behind on your payments. Because this type of debt relief can have a negative impact on your credit, you should try to pursue options with a lower credit impact. These include debt consolidation loans, balance transfers to lower-interest cards, and direct negotiation with your creditors. All things considered, if your income potential in the future is uncertain, it may be worth thinking about debt settlement as an alternative to bankruptcy.

Seeking Debt Relief in California

One major benefit of working with debt relief companies in California is that they already have well-established relationships with many creditors, which means they know the ins and outs of how to negotiate with each one for the best deal. 

This expertise is certainly an advantage, even though people are technically able to negotiate with creditors themselves. When it comes down to it, getting help from a debt relief specialist like Alleviate Financial will often provide better and faster results. So what should you look for in a debt relief company?

Pre-Agreement and Disclosure Requirements

Before starting a debt settlement program in California, the settlement company should first provide you with the following information, so you’re clear on what the process involves.

  • An individualized financial analysis of your current circumstances
  • An estimate of the length of the program, the amount of debt enrolled, the total estimated savings needed to complete the program, and the monthly estimated amount to complete the program
  • A description of the services to be provided in the program

Does Debt Relief Work?

Remember the phrase “debt relief” covers a wide variety of methods for alleviating financial stress. These methods range from basic credit counseling to bankruptcy, with numerous options in between. Each comes with its own set of pros and cons, and not every option applies for every individual situation. The most important thing to keep in mind is finding expert help from companies that have experience dealing with each type of debt relief.

Get Help From The California Debt Relief Experts

Have you decided debt relief services are necessary for your financial situation? If you have substantial credit card debt, it can feel like there’s no way to escape from your creditors. Over the limit fees and interest can pile up quickly, making you fall further behind with each passing day. 

Turn to the California debt relief specialists at Alleviate Financial to start digging your way out from underneath high-interest unsecured debts. The first step is giving our specialists a call. We will take the time to fully understand your financial situation so we can give you a range of choices for debt relief, ensuring you the perfect solution for becoming debt-free. Give us a call today!