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Thursday, May 19th
SuperMoney offers comparison "shopping" for many financial products, including debt relief loans. They offer funding through just over a dozen partners, and you can see detailed information and reviews about each one before filling out your application. SuperMoney hasn't been around as long as some of the referral platforms we evaluated and so there's not as much customer feedback yet. This is a good way to gather information about personal loans you might be eligible for, but you'll still have to complete your application directly with the lender you choose.
Payoff connects you with one of eight lenders in their network, getting you a debt relief loan so that you can pay off your high-interest credit cards. While the BBB gives the company high marks, feedback from clients is much more mixed. Some have a great experience, while others describe a frustrating process from start to finish. There are more hassle-free options elsewhere if you want a loan to pay off your debt.
If you're facing an ever-increasing pile of "past due" notices, threatening letters from the IRS, and credit card statements where you're barely paying the interest, you're not alone. With unemployment rates reaching record highs, more people are struggling to make ends meet. The average American carries over $90,000 in debt, from student loans to mortgages, and it's easy to get in over your head.
Debt relief is the solution you need. It may sound like a gimmick or a scam, but rest assured that there are many reputable services that can help you reduce the amount of money you owe and help you get back on track financially. These programs typically work by negotiating on your behalf with credit card companies and other debtors, through strategies like debt settlement and repayment plans. Some of the best debt relief services work closely with you to create a solid plan for moving forward too, helping you to make sound financial decisions and hopefully avoid needing such measures in the future!
Are you eligible for debt relief? The criteria vary by provider, but you probably need to have at least $5,000 in total debt owed across all categories (taxes, credit cards, auto payments, and so on). Also, be aware that some "debt relief" is structured as a personal loan: you use the proceeds to pay off multiple accounts and consolidate what you owe into a single monthly payment. In that case, the ball is in your court and you won't necessarily get any financial coaching or have professionals working to renegotiate what you owe.
Which debt relief program is best for you? That depends on several factors, such as the type of debt you owe and how much, as well as your credit history and ability to qualify for a loan. Here are several features to keep in mind as you evaluate your options for debt relief:
TopConsumerReviews.com has evaluated and ranked the most popular debt relief programs available today. We hope this information helps you get out from under your mountain of debt and gain the peace of mind that comes from knowing you're on the right track financially.
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How a Debt Consolidation Plan Could Get You Out of Debt Faster
You can view our Editorial Guidelines here. Glad you asked! A debt consolidation plan (DCP), is like a loan for all your outstanding loans. You can apply for a DCP if your outstanding loan balance is ...
Wed, 18 May 2022