May 22, 2018

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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 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.

What Is Debt Negotiation?

According to the United States Census Bureau, 69 percent of Americans are in debt by an average of $70,000.

The same report indicated that consumers with the greatest amount of growing debt were those in the age group of 35 to 45, with roughly $108,000 in debt. Those aged 45 to 55 were carrying $86,500 in debt and people aged 55 to 64 were saddled with $70,000 in debt.

So how do people get so far in debt in the first place?

All it takes is one job loss, one health crisis or one unexpected expense for the average American to become financially stressed. Once a personís credit is over-extended, it creates a vicious cycle of paying only the minimum balance and accruing penalties and fees until the original amount owed has tripled or worse.

If you are among the 69 percent of Americans who are carrying around more debt than you can reasonably pay off, then itís time to explore options for reducing the financial burden.

There are a plethora of companies which offer debt negotiation services. However, not all debt negotiators are created equal.

The concept behind debt negotiation is to convince creditors to reduce the total amount of money owed in lieu of a set fee. The set fee usually is required to be paid up front.

Sounds like a great idea, doesnít it?

Thereís only one problem Ė most for-profit debt negotiation companies are nothing more than crooks. They require hefty, upfront fees for their services, and then not only fail to contact your creditors on your behalf, but also will not put any of the money you gave them toward your owed debt.

So how do you know if youíre about to be taken by a company that has no real intention of helping you reduce your debt?

The Federal Trade Commission offers the following warning signs for identifying fraudulent debt negotiators:

  • They will promise they can reduce your debt to the point that youíre paying pennies on the dollar for what you actually owe
  • They will promise that some of your debt will be eliminated entirely
  • They lie and tell clients that unsecured creditors do not sue debtors for non-payment
  • They claim they can remove negative information from your credit report

Debt negotiators are not lying when they say they can negotiate with creditors on your behalf. However, what many fail to disclose to clients is that creditors are under no obligation to agree to a debt negotiation.

Debt negotiation can be a very effective tool for consumers looking to get out of an overwhelming debt situation. Finding a quality debt relief service is an important first step in the process.

Debt Consolidation Do's And Don'ts

Barry Choi has seen up close how quickly debt, especially revolving debt, can pile up. While his own finances are in order, the Toronto-based financial blogger has a friend who racked up $50,000 in debt - twice - outside of his mortgage and car loan.

Published:  Thu, 17 May 2018 06:42:00 GMT

Reasons Why America's Debt Load Has Soared Shared By National Debt Relief

The debt load of American consumers has been increasing year on year and National Debt Relief explains some of the reasons for it. The article titled "How America's Debt Load Has Soared" released May 16, 2018, aims to educate consumers more on why their ...

Published:  Sat, 19 May 2018 12:48:00 GMT

National Debt Relief Inks 95K-SF Deal for Relocation Within FiDi

National Debt Relief has signed a 95,000-square-foot lease at 180 Maiden Lane to relocate and expand its offices within the Financial District. The organization, which helps consumers get out of debt, will take the entire 29th, 30th and 31th floors of the ...

Published:  Thu, 17 May 2018 12:18:00 GMT

Where to Turn for Tax Debt Relief

You owe the government thousands of dollars in taxes, and you have no idea how you are going to pay them. You want to make an offer to the Internal Revenue Service to pay off back taxes and stop the letters. You've seen the ads on TV - pay the company ...

Published:  Fri, 18 May 2018 04:16:00 GMT

Debt Giant: The Leading Source in Debt Relief!

Do you have bad credit Need help repairing low credit rates Well, we are the giant of debt relief resources! Cutting Debt out of your life is what we do! We will help you alleviate some of that stress that comes with credit repair. We are one of the ...

Published:  Mon, 30 Apr 2018 09:17:00 GMT

Inexpensive Road Trip Ideas for Memorial Day Shared by National Debt Relief

Cheap road trips might be hard to come by especially during Memorial Day but National Debt Relief shares some tips to make the trip fun and inexpensive as well. The article titled "Cheap Road Trip Ideas To Make Your Memorial Day Fun" released May 14, 2018 ...

Published:  Thu, 17 May 2018 10:58:00 GMT

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