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Every day, more and more people find themselves struggling with outstanding debt. Rising home mortgage payments, unpaid credit card charges, and escalating late fees all conspire to make it difficult just to get by.
There are a number of debt solution programs, and a variety of companies, that you can turn to for help in overcoming your debt problems. TopConsumerReviews.com finds and ranks the best debt relief programs available today.

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DEBT RELIEF PROGRAMS

Across the country, millions of people are finding it more and more difficult to meet their financial obligations. As mortgage interest rates rise, Adjustable Rate Mortgage (ARM) payments skyrocket. Credit card late fees continue to climb higher. Lenders keep offering credit to people who are in desperate need of help, but this only prolongs the problem, and often ends up simply increasing the total debt owed by a person.

Thankfully, there are a number of options available if you find yourself in this situation. Debt Negotiation, Debt Settlement, Repayment plans, and Debt Consolidation are just some of the opportunities you can pursue. Of course, you need to find the right solution, and just as importantly, the right company to work with to address your financial needs.

When looking at debt relief programs, there are a number of factors you should consider. Some of these include:

•  Solutions.  Does the company only offer one debt relief solution? Or are they well-versed in a number of options? Having a variety of choices means they can find the right debt relief program that fits your specific needs.

•  Cost.  How does the debt relief company get paid? The best ones will earn their money froma percentage of what they save you; that way, they only get paid if you save money.

•  Dependability.  There are many fly-by-night debt relief organizations out there. How long has the comany been in business? Are they affiliated with the BBB (Better Business Bureau)? Is this a company you can trust?

TopConsumerReviews.com has reviewed and ranked the best debt relief programs that are available today. We hope you find these reviews helpful in your quest to become debt-free!

 

 

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TOP 5 REASONS TO CONSIDER DEBT CONSOLIDATION

The term debt consolidation is often thought of as referring to a debt consolidation loan, but that's not actually the case. Debt consolidation refers to the act of consolidating bills into one monthly payment without actually being granted a loan. If you have ever heard of a debt consolidation company, then you may already know how the process works. If not, this article will explain the process and why it may be beneficial for anyone who is in need of valid debt relief.

Have you ever been late with a credit card bill? If so, how many times has the issuing bank called you before your second payment was even due? If you miss one single payment, the telephone begins to ring and you instantly recognize the importance of debt relief. If you miss two consecutive payments, you can forget about having any peace within your household. The collections department that serves most creditors is ruthless and the people on the phones are considerably less than pleasant. After a period of three months in a debt consolidation program, the majority of collection calls will stop.

A debt consolidation company attempts to work with your creditors in order to get you a lower monthly payment. If you are already behind with your payments, it may be time to consider the real possibility that you are in need of debt relief. A more affordable monthly payment is all that many debtors need to help get them back on track with finances.

One of the greatest drawbacks to credit card debt is the high interest rates that often accompany an account. Some lenders may offer a zero or low introductory APR (Annual Percentage Rate), but the keyword in that sentence is "introductory". Once that period expires, the APR will increase to the preset amount as described in a cardholder's agreement. When interest rates get out of hand, less of your payment is actually being applied to the principal balance. Essentially, you may be paying for nothing more than interest or, in the worst case scenario, you may be going deeper into debt every month. A debt consolidation company attempts to get interest rates lowered or, in some cases, even eliminated throughout the course of their customized debt relief repayment program.

Although a debt consolidation company does not provide a loan, they do collect one lump sum payment from you each month that will then be distributed to your creditors according to the agreed upon budget. If you have 5, 10 or even 15 bills due each month, it can be a daunting task to keep up with due dates. By having one lump sum payment due on the same day each month, you will be effectively controlling your own payment schedule and will lessen the likelihood of forgetting to submit payment.

The last, but certainly not least, important reason to consider a debt consolidation program is because it can help you to get out of debt much faster than if you were to continue paying the minimum monthly payments, high interest rates and miscellaneous penalty fees. In most cases, creditors will stop charging late and overlimit fees after 1-3 months of consecutive payments through a debt consolidation program. Generally, it can take as many as 15 years to pay off one single credit card under normal circumstances. With the help of a debt consolidation program, you may be debt free sooner than you ever thought possible.

 

 

 

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Debt Relief in the News

Seeing the Glass Half Full Despite the Day’s Reports - Herald Tribune
In the morning, they were hit with a dreary jobs report. In the afternoon, they learned that consumers had again scaled back on borrowing. But even in the face of grim economic news on Friday, investors seemed content just to shrug it all off. Stocks ...
Publ.Date : Sat, 07 Nov 2009 14:45:00 GMT

Jobless: 10 percent is tougher than it used to be - WCAX
WASHINGTON (AP) - It hurts more to be unemployed now than the last time the jobless rate hit 10 percent. Americans have more than triple the debt they had in 1982, and less than half the savings. They spend 10 weeks longer off the job. And a bigger ...
Publ.Date : Sat, 07 Nov 2009 17:30:00 GMT

Financial and Business Services - Chicago Tribune
WASHINGTON (AP) — It hurts more to be unemployed now than the last time the jobless rate hit 10 percent. Americans have more than triple the debt they had in 1982, and less than half the savings. They spend 10 weeks longer off the job. And a bigger ...
Publ.Date : Sat, 07 Nov 2009 17:30:00 GMT

Soaring credit card rates sneaky but legal - Chicago Sun-Times
... business partner and forced to put the subsequent debt on their credit cards. They had faithfully paid on their cards for years, but were recently shocked to see several of the rates rise to more than 28 percent and one card's APR increased to ...
Publ.Date : Sat, 07 Nov 2009 14:24:00 GMT

Consumer spending falls victim to debt repayment - Bloggingstocks.com
According to the Federal Reserve , borrowing fell at an annual rate of $14.8 billion in September -- it's biggest drop since July and much larger than the $10 billion predicted by economists. The behavior is exactly what you'd find in people worried ...
Publ.Date : Sat, 07 Nov 2009 16:26:00 GMT

John Cusack 'would run huge credit debt' - Digital Spy
John Cusack has admitted that he would go on a massive shopping spree if he knew the world was to explode. The actor, who stars in new movie 2012 about civilisation coming to an end, said that an apocalypse would make him want to run a giant debt ...
Publ.Date : Sat, 07 Nov 2009 16:40:00 GMT

Unemployment shoots past 10 percent - Reporter
WASHINGTON — Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously ...
Publ.Date : Sat, 07 Nov 2009 15:21:00 GMT

What recovery? Unemployment shoots past 10 percent - Daily Freeman Journal
The jobless rate rocketed to 10.2 percent ... President Barack Obama called it "a sobering number that underscores the economic challenges that lie ahead." He signed a measure to extend unemployment benefits and extended a tax credit for first-time ...
Publ.Date : Sat, 07 Nov 2009 14:24:00 GMT