Debt is a common part of life for many Americans. If you’re facing an overwhelming amount of credit card debt, aren’t able to pay it off, or are struggling to make the minimum payments, debt relief programs might be the best way to help you manage your debt and become debt-free.
What Is Debt Relief?
Debt relief is when an individual reorganizes their debt to get some relief, either by paying it off completely at a discount or making it more manageable. People who benefit the most from debt relief programs are those who have a large amount of debt and little hope of paying it off.
Debt relief options come in many forms. These include:
- Debt relief programs
- Debt consolidation
- Credit counseling
- Debt settlement or debt negotiation
Credit Answers can help you determine which of these debt relief solutions is right for you and get you on a path to becoming debt-free.
You could be debt-free in 24 to 36 months.
How Does a Debt Relief Program Work?
There are many ways to get out of debt with a debt relief program such as debt consolidation, credit counseling, bankruptcy, and debt settlement. The purpose of any debt relief program is to help you find a workable, realistic way out of debt. One of the most common types of debt relief is debt settlement or debt negotiation.
When you sign up for a debt settlement program, your debt relief company will negotiate with your creditors on your behalf. They will work with your creditors to negotiate a lower lump-sum payoff for your debts—meaning you pay less and get out of debt faster.
It’s important to note that most debt relief programs only deal with unsecured loans and debts which include credit card debt, department store cards, and personal loans. Car loans, mortgages, and federal student loans don’t apply.
Why Choose Debt Relief?
Choosing debt relief often saves you the frustration and huge cost of the endless cycle of debt. Debt relief programs will take care of negotiations for you so you can focus on saving money. Plus, debt relief companies know how to negotiate with creditors to get you a better settlement.
Another reason to choose debt relief programs is that they help you create a debt payment plan to pay off your debt faster. Getting out of debt sooner allows you to enjoy more debt-free years in your life, and makes it easier to set aside money for other life events.
Get a Free Debt Assessment Today
If you’re facing an overwhelming amount of debt and want to know what your debt relief options are, contact CredtiAnswers. We’ll help you determine which option is best for you with a free debt assessment. Get started today!