TopConsumerReviews.com
      August 21, 2018

Home  >  Debt Relief  >  Articles

Best

Debt Relief

  1. CuraDebt
  2. LendingTree
  3. CareOne
  4. LendingClub
  5. American Debt Enders
  6. Accredited
  7. OneMain Financial
  8. Savvy Money
  9. Franklin Debt Relief
  10. Debt Consolidation Care
  11. Fast Track Debt Relief

Your Information Is Secure
60+ Ways to Save Money Newsletter

Latest Reviews

Coffee Clubs

Company Incorporation

CPA Exam Reviews

Credit Repair Companies

Dog DNA Testing

LLC Formation

Meal Delivery Programs

People Search

Pet Insurance

Whiskey Clubs

Wholesale Dropshippers

 

Related Articles

Benefits of Debt Settlement

Debt Consolidation vs Debt Settlement

Debt Relief vs Bankruptcy

Pitfalls of Declaring Bankruptcy

Reasons for Debt Consolidation

The Bankruptcy Process Explained

What Is Debt Consolidation?

What Is Debt Negotiation?

What Is Debt Settlement?

What To Do if You're In Debt

 

Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Top 5 Benefits of Debt Settlement

If you have the finances to accomplish debt settlement, you can get out of debt quickly and permanently. As the name implies, debt settlement refers to an amicable agreement reached between yourself and a creditor for either one lump sum, or a structured payment plan, in order to achieve a discounted payoff on an account. Below are five reasons to consider this option for getting back on the road to financial freedom.

Say goodbye to your bills. With debt settlement, your bills are gone for good. In most instances, a settlement will result in the creditor closing your account. While this may seem difficult, especially if you have become reliant on your credit card(s), it will prevent you from using them again in the future and rebuilding a mountain of debt. Debt settlement you to wipe the debt away permanently.

Your phone will stop ringing. If you have ever been late with one or more bills, then you already know that creditors begin calling at 8 a.m. and are not legally required to stop calling until after 9 p.m. at night. Depending on how many bills you are behind with, your telephone may be ringing at all hours. This is not only unnerving to you and your family, but it gets even worse when the collections department makes you feel terrible about your situation. With debt settlement, the phone will stop ringing because you will no longer owe anything on a settled account.

Avoid legal action & bankruptcy. Depending on the amount of debt that you owe to a particular creditor and the severity of the delinquency, they may pursue a civil judgement against you in order to recover payment. Once a judgement is entered, the creditor can petition the court for permission to garnish your wages, attach to your bank account or other legal methods used to collect a debt. A debt settlement will prevent this from happening and will ease your mind about ever getting served with lawsuit papers. In addition, settling your debts will enable you to prevent the filing of bankruptcy, which is a stressful process and the worst blemish that you could have on your credit report. While a bankruptcy will remain on your credit file for up to 10 years, a debt settlement will expire after 7 years.

Improve your credit score. How can debt settlement improve your credit score? At first, it may not help that much. But compared to the alternative of continued late or missed payments, mounting debt related to late fees and penalty interest, a settlement will be much better for both you and your credit report. At the very least, debt settlement will show that you have attempted to repay your debt(s) and, at best, your credit score will improve as you slowly begin to rebuild your credit.

Eliminate your debt at a fraction of the balance. With debt settlement, you agree to pay the creditor one lump sum, or structured payments, to eliminate the debt altogether. In exchange, the creditor agrees to accept a fraction of the balance as full payment. Quite often, you can settle a debt for as little as 20% on the dollar, which means a $10,000.00 debt could potentially be settled for $2,000.00. If you were to continue making payments on that same account, combined with interest rates, you would likely end up spending $20,000-30,000 before finally reaching a zero balance. With debt settlement, you are not only saving the obvious difference between the balance and the settlement amount, but you may also be saving a considerable amount of money in interest.

Survey: Most Americans unfamiliar with major advantages of nonprofit credit card debt relief

SUGAR LAND, Texas, Aug. 20, 2018 /PRNewswire/ -- More than half of Americans who have been in credit card debt (51%) have used some form of credit card debt relief, according to a recent online survey ...

Published:  Mon, 20 Aug 2018 03:00:00 GMT



Video: Debt settlement vs. debt consolidation

Any way you can save on your debt payments is worth it, right Not if it damages your credit so that you struggle to get loans or credit cards in the future! Watch our exclusive video above to see Mon...

Published:  Fri, 17 Aug 2018 09:46:00 GMT



New Service Offers Debt Relief to Reduce Financial Strain

Consumer debt in the United States continues to skyrocket for many families. The financial crisis in 2009 has left many Americans with the burden of high-interest debt. If you're one of the hundreds o...

Published:  Sat, 11 Aug 2018 09:54:00 GMT



Understanding Debt Relief Programs

Nobody seeks out illness, job loss, divorce or any other financial catastrophe, but sometimes things happen. Many people will accumulate overwhelming debt loads as a result of such hardship. If the bu...

Published:  Thu, 16 Aug 2018 04:02:00 GMT



Merkley, colleagues intro Medical Debt Relief Act

WASHINGTON - Senator Jeff Merkley, D-Ore., and Senators Richard Blumenthal (D-CT), Dianne Feinstein (D-CA), Elizabeth Warren (D-MA), Dick Durbin (D-IL), Bob Menendez (D-NJ) and Maggie Hassan (D-NH) in...

Published:  Thu, 16 Aug 2018 20:41:00 GMT



Resolvly Encourages Consumers to Study Debt Relief Options

Miami, Florida, Aug. 17, 2018 (GLOBE NEWSWIRE) -- ) Getting out of debt problem is easy if you have a clue about what you should do and what consumer rights are there to protect you. And that is what ...

Published:  Fri, 17 Aug 2018 08:48:00 GMT



Elizabeth Warren, Ed Markey seek debt relief for Puerto Rico amid hurricane recovery

With debt-related issues impacting Puerto Rico's efforts to recover from Hurricanes Irma and Maria, U.S. Sens. Elizabeth Warren and Ed Markey announced legislation Wednesday that seeks to offer relief ...

Published:  Mon, 13 Aug 2018 06:23:00 GMT



Arkansans fall victim to 'deceptive student loan debt relief scam'

LITTLE ROCK, Ark. (KTHV) - New developments in a story we've been looking in to for a while: Student loan debt. It affects tens of millions of Americans, and many end up seeking help to pay off their ...

Published:  Wed, 15 Aug 2018 16:15:00 GMT



Strategies To Pay Off Credit Card Debt Shared By Debt Consolidation USA

(PRLEAP.COM) Credit card debt is one of the biggest struggles for any consumer that is why Debt Consolidation USA shared an article to help people strategize on how to pay it off. The article titled " ...

Published:  Wed, 15 Aug 2018 00:55:00 GMT



Zimbabwe: U.S. Sanctions a Blow for Zim Debt Relief Plans

The decision by the United States to extend its sanctions against Zimbabwe will complicate the country's push to reduce its foreign debt of $13 billion, an expert has warned. US President Donald Trump ...

Published:  Mon, 13 Aug 2018 05:54:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure