November 20, 2019

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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

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Best Debt Settlement Programs

Debt Settlement is more important now than ever before. Across the country, millions of people are finding it more and more difficult to meet their financial obligations. As mortgage interest rates rise, Adjustable Rate Mortgage (ARM) payments skyrocket. Credit card late fees continue to climb higher.

Lenders keep offering credit to people who are in desperate need of help, but this only prolongs the problem, and often ends up simply increasing the total debt owed by a person. Thankfully, there are a number of opportunities available if you find yourself in this situation. Debt Settlement, Debt Negotiation, Repayment plans, and Debt Consolidation are just some of the options you can pursue.

Continue reading below reviews

2019

Debt Settlement Reviews

NATIONAL DEBT RELIEF

National Debt Relief is our top rated debt settlement company. They are BBB Accredited, in business since 2009, and they've helped over 100,000 customers get out of debt. If your debt load is $7,500 or more, National Debt Relief is a great place to start.
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CURADEBT

The experts at CuraDebt can offer a comprehensive solution to address your debt issues. Their counselors are well-versed in debt settlement, debt consolidation, tax debt relief, and more. Specializing in individuals with $10,000 or more in unsecured debt, CuraDebt offers many options, from the start to the debt free end.
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CAREONE DEBT RELIEF SERVICES^SM

CareOne Debt Relief Services^SM offer professionally run, quality programs. If you have total unsecured debt from $2,500 and up, this is an excellent option to pursue. Read More...

AMERICAN DEBT ENDERS

American Debt Enders educates as well as provides viable, upfront, solutions to reducing your debt. Their free credit counseling service is informative even if you decide not to go with them. We liked the speed at which they work to negotiate your outstanding debt.
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SAVVY MONEY

Savvy Money has a unique approach for improving your finances without damaging your credit. The online calculator is interesting to use, but the advice given is pretty simple. Is it worth the monthly fee?
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FRANKLIN DEBT RELIEF

At first glance Franklin Debt Relief looks like a professional option for your debt settlement needs. After looking closer we had concern with the lack of transparent information and their customer service team. Franklin didn't win us over with any aspect of their services or expertise.
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DEBT CONSOLIDATION CARE

Debt Consolidation Care lacked the professionalism and training that we look for in companies that take over someone’s financial future. The website was out of date and very busy – void of the specifics of their services and attention to customer service. Read More...

FAST TRACK DEBT RELIEF

Fast Track Debt Relief offers one debt settlement service for both business and personal debt. While the website was bright and attractive, it lacked the transparency we like to see related to fees and program specifics. We found several customer complaints related to Fast Tracks inability to successfully negotiate down debt but still taking fees, leaving the customer worse off than before. Read More...

Continued from above

However, not all debt settlement companies and plans are the same. You need to find the right debt settlement solution, and just as importantly, the right debt settlement company, to work with in order to address your financial needs.

With all the debt-related offerings available, it can sometimes be confusing when examining the different debt settlement programs and companies. When comparing your debt settlement options, there are a number of important features you should consider. Some of these include:

Solutions. Does the company only offer one debt relief solution? Or are they well-versed in a number of options? Having a variety of choices means they can find the right debt relief program that fits your specific needs.
Cost. How does the debt relief company get paid? The best ones will earn their money from a percentage of what they save you; that way, they only get paid if you save money.
Dependability. There are many fly-by-night debt relief organizations out there. How long has the company been in business? Are they affiliated with the BBB (Better Business Bureau)? Is this a company you can trust?

TopConsumerReviews.com has reviewed and ranked the best debt settlement programs available today. We hope these reviews help you in your quest to become debt-free!

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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.