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 To Do When You Find Yourself Deeply in Debt

If debt is mounting and you continually find yourself struggling every month, it may be time to seek debt relief. An important part of selecting the best way to eliminate your debt is to realize when it's time to ask for help. Debt consolidation and debt settlement programs are both very popular ways to help consumers get out of debt in a short period of time, but are they right for you? Neither of these programs are available for people who are simply tired of paying their bills, but they are available to those who are already late with payments, have bills in collections or have had a sudden change in their income.

There are a number of non-profit organizations currently offering debt management services, which include both debt consolidation and debt settlement. Some companies may offer both, while others may specialize in one or the other. In order to be eligible for either of these programs, you must be able to show that there is not sufficient income to pay your bills as they currently require. If this sounds like your situation, debt relief may be just a phone call away.

If you are receiving calls from your creditor's collections department, speak with them openly and honestly regarding your situation. Once you have signed up with a debt management company specializing in either debt consolidation or debt settlement, inform your creditor(s) of the name and telephone number of the company. In most cases, this will stop the collection calls while the creditor verifies the information that you provided. By explaining the fact that you are working with a company who will be submitting a proposal on your behalf, most creditors will accept this information as your good faith desire to repay your debts. As the telephone begins to stop ringing, you will gain some much needed relief from the stress associated with being constantly reminded of your financial woes.

When a debt management company sends your proposed new monthly payments, interest rates and/or debt settlement offers, the creditor(s) will either accept or deny the offer. Within weeks, you will be informed of their decision and will have the ability to call the debt management agency to remain updated with creditor's responses. After 1-3 months of consecutive payments made through a debt relief agency, most creditors will begin to list your account as current with credit reporting agencies.

It is recommended that consumers check their credit report periodically in order to maintain the accuracy of the content and to prevent them from being a victim of identity theft. Each year, you are entitled to receive a free copy of your credit report from each of the three credit reporting agencies, including Equifax, TransUnion and Experian. If you enroll in a debt consolidation or debt settlement program, it's a good idea to check your credit report prior to enrollment and then again after six months. When you compare the two timeframes, you will likely see a great improvement as creditors begin to receive their payments and update your credit reports accordingly. If any of the information is inaccurate, you can file a dispute with the credit reporting agency and get the corrected version updated in a short amount of time.

Dealing with debt is not an easy task. In fact, it can be a very exhausting experience. Once you have faced your finances and made an important step toward eliminating your debt, your life will begin to improve right along with your credit score.

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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