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      June 17, 2019

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Benefits of Debt Settlement

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Reasons for Debt Consolidation

The Bankruptcy Process Explained

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What To Do if You're In Debt


Top Consumer Reviews Articles 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.

Forget these 5 myths you've heard about debt consolidation

If debt is affecting your finances, you may have a share of the $4 trillion in non-housing debt tallied in the first quarter of 2019 by the Federal Reserve Bank of New York. Of all household debt, ...

Published:  Tue, 11 Jun 2019 05:09:00 GMT

Texas AG announces $13M in debt relief for ITT Tech students

AUSTIN, Texas - On Friday, Attorney General Ken Paxton announced a $13 million debt relief agreement for 1,430 former ITT Tech students in Texas. The agreement is part of a 43-state settlement with ...

Published:  Fri, 14 Jun 2019 19:03:00 GMT

Former ITT Tech students in Arizona will get nearly $4M in debt relief

Former ITT Tech students in Arizona will get nearly $4M in debt relief About 400 former ITT Technical Institute students in Arizona will get nearly $4 million in debt relief. Check out this story on ...

Published:  Fri, 14 Jun 2019 17:14:00 GMT

Iowa's former ITT Tech students to share $1.4 million in debt relief

Nearly $1.4 million in debt relief is on its way for 143 former ITT Tech students in Iowa as part of a 44-state settlement, Attorney General Tom Miller announced Friday. The settlement with Student CU ...

Published:  Fri, 14 Jun 2019 13:29:00 GMT

Nearly $1.7M awarded to Coloradans with student loan debt after ITT Tech settlement

Colorado Attorney General Phil Weiser announced Friday that his office secured $1,668,772 in debt relief for the 168 Coloradans impacted, according to a news release. Nationwide, more than $168 ...

Published:  Sun, 16 Jun 2019 14:03:00 GMT

ITT students to receive millions in debt relief in settlement

Former ITT Tech students who owed money in student loans will get a break due to a settlement in Arizona and 42 other states. ...

Published:  Fri, 14 Jun 2019 22:20:00 GMT

4 Ways to Become Debt-Free Faster

Finally, a third solution is a personal loan. While some loans are specifically marketed as debt consolidation loans, any personal loan will do, since you can use the proceeds for anything you'd like. ...

Published:  Sun, 16 Jun 2019 08:29:00 GMT

Ohio AG Dave Yost announces $6.8 million in debt relief for ITT Tech students

A multi-state settlement will provide $6.8 million in debt relief to about 870 former Ohio students of the failed for-profit college ITT Technical Institute, state Attorney General Dave Yost announced ...

Published:  Fri, 14 Jun 2019 00:42:00 GMT

Liberty Debt Relief

Liberty Debt Relief is strongly committed to providing debt relief programs to all our customers by providing you with the right options, regardless of your financial history. Liberty Debt Relief ...

Published:  Fri, 14 Jun 2019 11:11:00 GMT

Lender to disburse $5.1 million in debt relief after "deceiving' ITT Tech students

Editor's note: The attached video originally aired in 2016 when ITT Tech announced it was shutting down. Over 500 former ITT Technical Institute students could be getting money back after a state ...

Published:  Fri, 14 Jun 2019 23:29:00 GMT

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