Rankings ⇾

Best Debt Relief

  1. National Debt Relief
  2. Curadebt
  3. Lendingtree
  4. Careone Debt Relief Services
  5. Lendingclub
  6. American Debt Enders
  7. Accredited Debt Relief
  8. Onemain Financial
  9. Savvy Money
  10. Franklin Debt Relief
  11. Debt Consolidation Care
  12. Fast Track Debt Relief

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What To Do When You Find Yourself Deeply in Debt in 2019

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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.

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Debt Relief In The News

Consumer agency's $25 million settlement with Freedom Debt Relief shows the risks of such programs

The nation's biggest debt-settlement services provider will pay a steep price after allegedly deceiving borrowers who'd gotten in over their heads. This past week, the Consumer Financial Protection ...

Published:  Fri, 12 Jul 2019 18:38:00 GMT



New bankruptcy program seeks to help people saddled with student debt; 2.4 million Floridians owe $85.5 billion

It comes as student debt has been in the national spotlight recently and a ... That's exactly the type of relief Branson said she's hoping others in the bankruptcy process will find. She said she and ...

Published:  Mon, 15 Jul 2019 14:05:00 GMT



UPDATE 1-Freedom Debt Relief pays $25 mln to settle U.S. charges it misled consumers

July 9 (Reuters) - Freedom Debt Relief LLC, the largest U.S. debt settlement services provider, agreed to pay $25 million to resolve U.S. regulatory allegations it imposed improper charges on ...

Published:  Tue, 09 Jul 2019 11:15:00 GMT



Tempe's Freedom Debt Relief fined, ordered to reimburse customers $20 million

Tempe's Freedom Debt Relief fined, ordered to reimburse customers $20 million Freedom Debt Relief, a growing employer in Tempe, has been fined $5 million and ordered to pay $20 million to customers ...

Published:  Tue, 09 Jul 2019 14:38:00 GMT



Michelle Singletary: There's no shortcut to debt relief

WASHINGTON - The nation's biggest debt-settlement services provider will pay a steep price after allegedly deceiving borrowers who'd gotten in over their heads. Last week, the Consumer Financial ...

Published:  Sun, 14 Jul 2019 04:32:00 GMT



Reasons People Need To Improve Their Credit Score Shared By National Debt Relief

DALLAS, July 15, 2019 /PRNewswire-PRWeb/ -- A lot of people understand that their credit score is an important part of their finances that is why National Debt Relief underscores the importance of ...

Published:  Mon, 15 Jul 2019 09:00:00 GMT



For-profit Salter College, accused of defrauding students, will close and pay $1.6 million in debt relief

A Massachusetts for-profit college that was accused of defrauding students and driving them into debt is going out of business. Salter College and its parent company, Premier Education Group, agreed ...

Published:  Thu, 11 Jul 2019 14:54:00 GMT



Freedom Debt Relief reaches $25 million settlement with U.S. regulator

(Reuters) - Freedom Debt Relief LLC, the largest U.S. debt settlement services provider, agreed to pay $25 million in fines and restitution to settle allegations it imposed a variety of improper ...

Published:  Tue, 09 Jul 2019 10:00:00 GMT



For-profit school will pay $1.6m in debt relief, cease operations in Mass. as part of settlement

A for-profit college and its Pennsylvania-based parent company will pay $1.6 million in debt relief as a part of a settlement with the Massachusetts attorney general's office that also will stop the ...

Published:  Thu, 11 Jul 2019 15:49:00 GMT




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