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      June 21, 2018

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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.

Judge rejects DeVos' interpretation of order about Corinthian student debt relief

Tens of thousands of former Corinthian Colleges students can breathe a sigh of relief after a federal judge said late Tuesday that the U.S. Department of Education must stop all attempts to collect on their federal student loans. The decision clarifies the ...

Published:  Wed, 20 Jun 2018 11:31:00 GMT



Judge rejects DeVos's interpretation of order to halt partial student debt relief plan

Tens of thousands of former Corinthian Colleges students can breathe a sigh of relief after a federal judge said late Tuesday that the U.S. Department of Education must stop all attempts to collect on their federal student loans. The decision clarifies ...

Published:  Wed, 20 Jun 2018 09:02:00 GMT



Greece expects substantive debt relief decisions from Eurogroup

Greece expects euro zone finance ministers to deliver on promised debt relief this week so that it can at last plan its financial future "like any ordinary country", the government spokesman said on Wednesday. Load Error Ministers in the Eurogroup will ...

Published:  Wed, 20 Jun 2018 04:32:29 GMT



The Macedonia effect Deal may boost Greek debt relief hopes

ATHENS (Reuters) - With a brief formulation of words, Greek Prime Minister Alexis Tsipras may have boosted his chances of persuading foreign creditors to free his nation from years of financial humiliation on better terms than a few days ago. Tsipras ...

Published:  Mon, 18 Jun 2018 09:42:00 GMT



Greek Debt Talks: the Main Relief Measures Being Considered

Greek bailout talks are reaching the final stretch and creditors are debating what relief measures they can offer Europe's most-indebted state to ease its financial burden and facilitate its exit from the latest lifeline. Negotiations over the type, size ...

Published:  Sun, 17 Jun 2018 20:00:02 GMT



Increasingly Debt-Laden, Regulated Utility Sector Outlook Veers from "˜Stable' to "˜Negative'

Consolidated ratio of debt to earnings before interest ... One approach is to seek financial relief from regulators-which most companies have done in response to tax reform. The Florida Public Service Commission has allowed several utilities in the ...

Published:  Wed, 20 Jun 2018 04:22:00 GMT



Take a Debt Free Summer Vacation

vice president of Phoenix operations with Freedom Debt Relief. "Instead, plan ahead to ensure you spend smartly." Identify Ways to Reduce Expenses Once you've got a detailed budget outlined, it's time to start searching for ways to cut those costs ...

Published:  Mon, 18 Jun 2018 06:17:00 GMT



Greece says expects decisions from Eurogroup on debt

Government spokesman Dimitris Tzanakopoulos also said there was no truth in speculation that a deal settling a name dispute with neighboring Macedonia was tied in any way to Greek debt relief. "We are optimistic that we are on the verge of a solution ...

Published:  Wed, 20 Jun 2018 04:36:00 GMT



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