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      February 19, 2018

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Benefits of Debt Settlement

Debt Consolidation vs Debt Settlement

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Reasons for Debt Consolidation

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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.

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.

Credit Utilization Rate Explained By National Debt Relief

Credit utilization ratio is an important factor in computing for credit scores and National Debt Relief explains it in more detail. The article titled "Understanding Your Credit Utilization Rate and How to Improve It" released February 14, 2018, helps ...

Published:  Sun, 18 Feb 2018 10:52:00 GMT



Consumer Alert - Debt relief promises: Tips for choosing a debt relief service that keeps its word

OTTAWA, Feb. 15, 2018 /CNW/ - Whether trying to catch up on holiday bill payments or dealing with an unexpected life event, most Canadians would agree: struggling with debt is not what they are looking forward to in 2018. Fact: According to recent data ...

Published:  Thu, 15 Feb 2018 10:33:00 GMT



EU's Moscovici calls for Greek medium-term debt relief deal in June

ATHENS (Reuters) - Greece and its lenders must agree on measures for medium-term debt relief in June, before Greece exits its bailout later in the summer, Europe's Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.

Published:  Thu, 08 Feb 2018 08:47:00 GMT



Courts can examine interest rate on farm loans in states having debt relief laws: SC

In a significant verdict, the Supreme Court today held that the courts can scrutinise the rates of interest being charged by banks from farmers in states where debt relief laws are in place to deal with rural indebtedness. In a significant verdict, the ...

Published:  Fri, 16 Feb 2018 08:20:00 GMT



EU's Moscovici 'Especially Optimistic' on Greek Debt Relief

ATHENS (Reuters) - European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday he was "especially optimistic" about efforts to reach a solution on Greek debt relief. Greece's third bailout ends in August and debt relief is ...

Published:  Thu, 08 Feb 2018 03:39:00 GMT



Cuba Creditors Offer 'Very Significant Relief' in Debt Proposal

Cuba's commercial creditors have offered "very significant debt relief" in a proposal sent to cash-strapped Havana in late January, according to two advisers to the group, in a sign that holders of the defaulted debt are ready to ramp up the pressure.

Published:  Tue, 13 Feb 2018 08:33:00 GMT



Debt Relief 101: Things To Know About Your Debt

Debt is a common term found in a lot of industries today, especially if we realize that debt can be used by almost all people in all walks of life. Many see debt as an answer and as a solution to their financial needs. On the other end, some people also ...

Published:  Fri, 16 Feb 2018 14:15:00 GMT



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