Should I Have Apprehensions Regarding Debt Relief?
Whether you read articles in newspapers, magazines or on the internet, I am sure you have read international studies, negative and positive comments about debt relief definition. Also, infographic, advertising banners which shows what you can become debt-free. Some will say that debt relief is a miracle while someone else will say it's a disaster! I can understand why you might be a little apprehensive toward these companies. Should you believe the positive comments or should you believe the negative ones?
The truth is somewhere in the middle of the pros and cons are the most accurate. What many of these sites do not tell you is that debt relief options might not be for everyone. Someone with a negative comment might not be giving you the full story on why this process did not work for them.About My Site:
It is not a business landing page,I am not here to try to sell you on debt relief, that is your choice and no one else. I have 22 companies that I have extensively reviewed and researched. I will not review a company unless they can pass my tough screening process. Unless I personally would use one of these companies, I will not recommend them.
I am here to help you find a debt solution that matches your particular problem and make it an easier process for you. The companies I am recommending and reviewing must win your trust. I do want you to understand that I am paid for my reviews, allowing viewers, like yourself, to have access to the information, free of charge.
I am paid in different ways from up front to other incentives, however, I do not take companies that I do not believe add up to my expectations. I receive thousands of emails daily from debt assistance companies, but only a few select ones get reviewed by me. My reputation is on the line and I need the trust of my readers that I am honest.
How I Review & Choose Debt Relief Companies:
My vetting process for companies is rigid. I look closely at specific parameters including accreditation, their history and the level of experience from their employees. Your trust in me is extremely important but more so, that you will find a company that will help you with your particular needs.
You may think that all the debt assistance companies go after profits alone but you got it all wrong. There are quite a few companies that are known to be non-profit that are so eager to assist you in becoming debt-free with totally no charge with their generous service. You must also go beyond your quest in looking for a dependable debt counseling company before you make a decision to which company you can depend on your financial freedom with. In ensuring that you are in good hands, you must look into several things in doing a company research.
You should authenticate the company’s name as well as its credibility so you can be totally secured when you choose to get their service. You may also want to check if there’s filed complaints against the company and if you find anything against the company might as well find another company and do the same thing.
You must be aware of the service fees beforehand so there won’t be any misunderstanding in the long run. You must bear in mind that only non-profit companies can charge you with totally nothing, otherwise, you can expect to be billed for the debt management or credit counseling service that the company does for your own benefit.
You need to be certain that your personal information will be kept confidential and secured. This should be the foremost consideration that you must ask the company before getting their service. You should be assured that everything will just be between you and the company before you can entrust your debt issues with anyone.
National Debt Relief Review:
National Debt Relief is my number one pick for your debt relief options. This company was founded in 2006, and they provide loans and debt assistance for individuals and small businesses. As of 2008, they have been offering their debt services throughout the entire USA. This company is a member of TASC and in good standing. They are one of the oldest and largest debt management companies anywhere and have the highest rating by the consumer watchdog.
One of this company features is they start off with your entire debt. They will work with your creditors to try to come up with a lower payment method, then structure a loan around the balance. This process will help relieve financial pressures from you. They do not start with portions of your debts with one creditor, negotiation or consolidation at a time. Should you ever have any questions or concerns, you will be able to speak with your credit counselor, negotiator or their knowledgeable team members.
This company also works with the Better Business Bureau (BBB). And, I suggest before signing with any consolidation company like Guardian Debt Relief or Freedom Debt Relief, ask if they follow this procedure as well. This company will also save you money in the long run. Their negotiators have spent a great deal of time building up contacts for established credit card debt consolidation programs. They settle accounts all at once vs one at a time. If you owe out $250,000, they will settle the entire amount all at once instead of $10,000 here, $10,000 there. You stand a much better chance of a good negotiation this way, instead of breaking it down. As this company is a commissioned-based debt management company, it is in their best interest to find the best savings plan for you.You Will Always Have Support:
You will personally speak with a debt assistance negotiator whenever you have any questions about your accounts and what they are working on. They will also work closely with the Commercial Debt Counseling division in order to negotiate with your creditors. You have free access to this company testimonials from others who have sought debt assistance from them.
You will also receive a session. Ask any questions you have and discover debt assistance from knowledgeable, caring people. In 2019, this company provided a 15% discount along with a free evaluation. The discount is not always available, but it something you should look for.In Conclusion:
This company offers top-notch savings, honest, knowledgeable employees and a five-star reputation. This company providing a quick and easy solution for your debt problems. This is my Number One Pick.Click Here to Get a Free Consultation from National Debt Relief
CuraDebt Company Review:
CuraDebt is my second choice debt relief company and I highly recommend.About CuraDebt:
They are very honest, fair and very responsive in helping you with your debt problems. Understand, that if you continue with huge credit debts and only make minimum payments, avoid late payments and do not add to your debt, it could take you 38 years to pay off your debt! Not only would that be almost impossible to get through but would be extremely difficult for anyone.
CuraDebt works with you to ensure you can find debt assistance quickly from a very trustworthy company. The company will also provide with the Business Debt Counseling and Tax Relief. This company has been around for the last nineteen years, providing many families with excellent solutions to their money problems. You will work closely with knowledgeable staff members that help you find the best solution to fit your needs. Whether you will need negotiations, settlements or another form of relief, they will guide you to the best solution for you.
The staff members at CuraDebt care a great deal about their clients and their specific needs for debt consolidation. They want to be sure they are providing you the perfect fit for your debt assistance, which is why they are my Second Choice.
American Debt Enders Review - The Freedom Of Debt ReliefAbout American Debt Enders:
American Debt Enders is my third choice for your debt problems. They provide numerous information and facts regarding debt assistance solutions online. They also offer a lot of testimonials from actual clients they have worked with to relieve their debts.
Since the founding of American Debt Enders, they have become one of the largest debt assistance companies anywhere. They have, since then, resolved over Four A Billion Dollars of consumer debt which is an astonishing record. They accredited with the IAPDA (International Association of Professional Debt Arbitrators) and AFCC (American Fair Credit Council).What You Can Expect:
You will receive a free consultation with knowledgeable financial counselors who truly understand all possible debt relief options. Also, if debt consolidation is not in the best interest of their client, they will contact them, offering other options including personal loans and bankruptcy. These people are credit counselors and looking out for what best for you.
American Debt Enders will never charge you one thin dime until a debt has been resolved, which is not necessarily true with some other companies. Adding to that, you, as a client, will have full control over your accounts. This is a big difference from other companies that expect sole control over your accounts, making it very difficult for you to visibly see your programs progression.
Once you are a client with American Debt Enders, you will have customer service support via telephone, email, chat and an online client dashboard to view the status of your account at any time.
This company have proven over and over to get the best results for their clientele. They have remained, and always will, transparent with their clients, so you always know what going on. American Debt Enders is ranked as one of the finest debt relief companies throughout the country. American Debt Enders is my Number Three Choice.Click Here to Get a Free Consultation from American Debt Enders
There are four basic ways to get out of debt. What is the best solution for you?
Whether you owe thousands of dollars or hundreds of thousands, any amount of debt that is too large for your budget is going to cause you problems. Once your emergency fund runs out and you are living from paycheck to paycheck, it may seem almost impossible to catch up. If you want to regain control, you must determine how to get out of debt effectively in your situation. Also you can a prayer to help you move out of financial distress. But how can you do it when the money is already so tight?
There are four basic ways to get out of debt:
1) Show that the debt is not yours
2) Pay it
3) Qualify for debt forgiveness
4) Find a way to download it
What can be applied to solve it depends on the type of debt you owe, the amount of debt you have, and your financial situation. This site is designed to help you understand these options.
The best way to get out of debt without paying: Show that it is not yours
Do you wonder how to get out of debt without paying anything? All you need to do is prove that you do not have to pay that debt. If you do not owe it, then you do not have to pay it.
This solution is most commonly seen with debt collection.
Debt buyers buy and sell billing accounts, often with incomplete documentation. They have a name on the account that they try to match with a real person they can call to collect. And they do not always have the right person.
The collector must send you a written notice telling you the amount of money you owe.Therefore, if you ask them to verify that the account is theirs and they can not do it, you can ask them to stop communicating with you. You can also dispute the billing account on your credit report to have that account removed. Simply contact any of the credit reporting agencies that issued a report where the debt appears to be in dispute. When the collector can not verify that it is his, he must eliminate it.
This is a process known as credit repair.
How to get out of the tax debt without paying
There is a special exception for not paying a debt that is only related to back taxes. Basically it is a special designation that tells the Internal Revenue Service (IRS), that it is not up to you to pay a debt. This is known as innocent spouse relief. If your spouse accumulates tax debts without your knowledge, and can prove it, you are not obligated to pay. Essentially, you are not "jointly and severally liable" if you can show that you did not know that you owed any debt.
Find the best way to get out of debt if you have to pay it
In most cases, the least damaging way to get out of debt is to pay it off. If you legitimately have a debt, you need a cost-effective solution that eliminates it quickly. Paying often also allows you to avoid situations, such as damage to your credit score.
There are four ways to get out of debt faster if you must pay it:
Refinancing: Reduces the interest rate applied to debt, so you can get rid of debt faster. When you have to pay a single debt and your credit score is better now, than when you applied at the time for the application, the first time.
Consolidation: Combine multiple debts of the same type, within the same monthly payment at a low interest rate. When you have multiple debts to pay and individual accounts have filled your budget capacity.
Payment plan: A form of professionally assisted consolidation that offers structured and fixed monthly payments. When your credit score is low, or you have too many debts to pay effectively on your own.
Settlement or payment agreement: Pay part of what you owe so that the remaining balance is discharged. When you are not worried about the damage to your credit.
How to get out of credit card debt quickly
Credit card debt consolidation combines multiple debt into a single monthly payment The credit card debt of high interest rate, usually requires consolidation or a professional payment plan, known as a debt management program. You can use the negotiation of interest rates to reduce the high rates in individual accounts. However, this still means making payments regularly to pay it off.
Credit card debt consolidation can give you a faster and cheaper way to pay off everything you owe. The use of a personal loan to pay for credit cards is the most common type of consolidation. You can go through your bank or credit union, or another financial institution or an online lender. Consolidation loans are often the best option if you have a good credit score and you owe less than $ 30,000.
If you have bad credit, or owe more than $ 30,000, then you probably need professional help to get out of debt quickly. Enroll in a debt management program.
It is also usually the right solution if you have low income and need lower monthly payments. People who qualify usually see their total monthly payments with a credit card reduced by up to 30 to 50%.
If your credit card accounts are already in collections and you are not worried about credit damage, then debt settlement is also an option. This allows you to return a portion of what you owe. Then the collector will accept to download the remaining balance. Each debt you settle creates a negative element in your credit report, which will be maintained for seven years from the date of registration.
How to get out of student loan debt
Refinancing student loans works differently than refinancing other types of loans. This is because the government sets federal interest rates for college loans. Therefore, your credit score is not a qualifying factor. If you want to refinance a student loan,
You will usually turn to a private lender. Just be careful, because this makes your federal loans private. Your debts will no longer be eligible for any federal relief option, including forgiveness.
If you have multiple federal loans to pay and low income, you will usually need a federal payment plan. Plans such as income-based payment relate monthly payments to your income level, so payments are lower. This may also make you eligible for loan forgiveness, which we will describe below.
Regarding consolidation, there are two options. A Federal Direct Consolidation Loan allows you to combine loans from different federal programs, such as Stafford or Family Education Family Loans (FFEL). This makes more debts eligible for other federal relief options. However, if you want traditional consolidation at a low interest rate, you should generally use a private student debt consolidation loan.
Only some debts can be approved for settlement. Finally, you have a settlement agreement. The liquidation of student loans is rare because these debts can not even be easily liquidated through bankruptcy. You should basically prove that your loans are causing you extreme financial difficulties. If you can show that you can not reasonably be expected to repay private student loans, then you may be eligible for debt settlement scheme.
How to get out of the tax debt
In the world of back taxes, the only option you really have to pay the tax debt without additional credit damages is to establish a payment plan. This is known as a Quota Agreement (IA). At the same time, you can also use the reduction of fines to avoid them, and the interest charges already applied to your debt.
The liquidation of tax debts is rare, once again, because this type of debt can not be easily discharged through bankruptcy. However, in some cases, the Internal Revenue Service (IRS) can accept a settlement offer if you can not reasonably expect it to pay all you owe. They will review your finances and see how much you can expect to recover, and then arrange your settlement accordingly.
How to get out of debt through forgiveness
Debt forgiveness really only applies to loans, specifically to student loans. And it's not as easy as you might expect it to be. First, you must work in a public service profession, such as teaching, nursing or first responders. Even so, you must pay a portion of your debt. In fact, you must make payments for 10 years before the remaining balances are forgiven without penalty. This is known as Public Service Loan Pardon.
What happens with the forgiveness of the tax debt?
The forgiveness of the tax debt is not really something that exists. If you show that you should not pay the IRS through the relief that the Innocent Spouse figure can provide, that is the closest you can get to forgiveness. But unless you can prove that you are not responsible, you should generally return at least part of what is owed.
How to get out of debt without money through discharge
Man sitting in home office, reading mailer and felling worried. With one hand holding letter and with other forehead If you can not prove that a debt is not yours, you can not pay it and forgiveness is not an option, you can be released from it. The discharge or discharge occurs when the creditor or lender agrees to clear the remaining balance. Generally, you must first pay them something in return, such as through the agreement described above. Even if you file for bankruptcy, the court may establish a payment plan (Chapter 13) or liquidate your assets (Chapter 7).
The less income is available and the less assets to liquidate, the less money will be liquidated. The discharge tries to show that there is no "reasonable expectation of reimbursement". Basically, you must show that you do not have the means to make the debt payments.
How to get out of other types of debts
How to get rid of your mortgage :If you can no longer afford your mortgage, call your lender to discuss the options. He can offer you a restructuring or refinancing, temporarily suspending payments, or adjusting your payment schedule until you recover. If you can not save the house, then you can approve a short sale (short sale, where you can repay the lender for less than the amount owed, but being the maximum that can be obtained for the home) or offer cash for the keys, in which you effectively withdraw money from your mortgage.
Keep in mind that any solution that prevents you from paying the remaining balance of your mortgage can lead to a deficiency judgment. That means that the lender reserves the right to sue you for the remaining balance owed. This is true even in an approved short sale. The fact that the lender agrees to let you out of your mortgage does not necessarily mean that you will be off the hook.
How to get rid of your car loan
With a car loan, you generally need to refinance, or see if the lender will allow you to get out of the loan. Refinancing can help, if you have an uncollectible loan that resulted in negative equity. This is when you owe more than the car is worth. In this case, you refinance to get a better loan with payments you can meet.
If the lender agrees to leave you unpaid, you should generally return the vehicle in good working order. Basically, you sign the title of the car to the lender, so they can sell it. Again, the lender reserves the right to pursue you for the remaining balance with a deficiency judgment.
How to leave collections for debts of a cell phone or other service
If you have a cell phone bill, utility bill, or pocket medical bill that goes to collections, the best way to get out of it is to agree with the original service provider. Do not fight with the collector. Avoid them and contact the company that provided the service, to set up a payment plan. Often they will be willing to work with you to be able to recover at least part of what you owe.
Once it is established with the original service provider, it will no longer be on the hook of the billing account.
How to get out of a debt ordered by the court, such as child support
If you must pay child support, alimony or other debt ordered by the court, you can consolidate it. You can get out of debt as established by the courts, through a personal loan. This will help you avoid additional court fines and potential downtime. You can even transfer this debt with a credit card debt consolidation loan. It uses part of the funds to pay the judicial fines and payments ordered by the court.
Many solutions to pay off credit card debt can also be used to pay other types of debt. This is particularly true with a debt relief programs. Also,to get out of debt, geography plays a role. Where you live that matters.