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If You Can’t Solve Your Unsecured Debt Problems on Your Own, Getting Outside Help is the Smartest Thing to Do

May15
2012 Leave a Comment Written by E.Padro

Staying out of debt is the smartest thing to do, but unfortunately it is not what’s happening these days.  The reality is that most of us carry some amount of credit cards debt. Of course, if we manage to keep our credit cards debt under control and we can afford to make our monthly payments on time, things wouldn’t be so bad.

But what about those who have lost control of their finances for one reason or another, and their lives have turned upside down?  How many have lost their jobs or their income is not enough to take care of their financial needs? It’s a pretty sad situation to be in, and the truth is that it’s common for thousands of people to find themselves helpless dealing with high amount of credit cards debt nowadays.

Once we fall deep in debt, our lives change. We can’t help feeling depress and hopeless,  and the guilt added to it can affect our family and friends relationship in a negative way. If we want to avoid getting to this point it’s clear that we need to find a solution fast.

You can contact your creditors and explain your situation and try to negotiate lower monthly payments and lower interest rates on your credit cards. If you can’t do it on your own because you are too nervous or don’t know how to do it, the smartest thing to do is to get outside help. A debt settlement company may be a good choice, these companies have  personnel who are trained to negotiate with your creditors more efficiently.

But you need to do it right. The first step is to educate yourself. There is plenty of information on this blog and on the internet about debt relief help and how to handle your debt problems properly. Learn the different debt relief options available, how to qualify, how to choose the right option, and how debt settlement companies work before you make a final decision.

Being knowledgeable about this subject is essential, it’s the best way to know your choices, the cost to settle your debts, and most important, to learn how to choose a legitimate company to help you during the process. Keep in mind that debt settlement companies offer free information to consumers who are searching for debt relief help.

So, if you are struggling with credit card debts, start learning and check the following debt relief options available:  Credit Counseling, Mortgage Refinancing Loan, Equity Loan, Debt Settlement and Bankruptcy.  Then  choose the one based in your financial needs.

Each of the above debt relief options applies to different financial situations. It is possible that you qualify for more than one option, but knowing which one is the best for you, will save you time, money and frustration.  To find more useful information read the other posts on this blog. They include lots of information about debt relief  to help you start the process of getting the debt freedom you need.

You can also find here our top three reviewed debt settlement companies, including CuraDebt as the top choice.  Each review has a link to the company.  Visit them to find out how these companies work and how they can help you handle your debts  problems.  Don’t  be a slave to bad debts, get the debt relief help you need.

Posted in Credit Cards Debt, Debt Relief Help, Debt Relief Information, Debt Settlement Companies - Tagged , , ,

What is a Debt Relief Option and How to Choose the Right One

Apr20
2012 Leave a Comment Written by E.Padro

Even though there is plenty of debt relief help information on the internet there are still many people who are not getting the help they need, some simply don’t know how to find it and others don’t understand what options they have or what a debt relief option is. This is the reason why  understanding the options available during these times of hardship for many consumers is so important.

Many consumers are struggling trying to get out of debt but not all of them have a clear idea of what is a debt relief option. First, there are several debt relief options available that are described below, and second, each option is designed to help consumers handle different financial problems, including personal and/or business debts.

Therefore, it is essential that you know where are you standing financially or what kind of debt problems you have in order to choose the right debt relief option. The next step would be to learn how to find the help you need. It doesn’t matter if your debt is big or small, if you are struggling to make payments or can’t make any payments at all, you can qualify for a debt relief option based in your financial needs.

Debt Relief Options Available and What Can They Do for You

Before you proceed to choose  one of the following options, make sure that you have analyzed your financial situation and  that you are prepared to choose the right  debt relief option that suits your needs. These programs are designed to help consumers choose the right debt relief help they need.

It is important that you know  the benefits and drawbacks of these programs . Some of them will have a negative effect on your credit. Make sure that you do some research about the option you choose to be aware of all these facts before you proceed to choose a debt relief company to help you handle your debt problems.

Option 1 – Credit Counseling – These agencies can help consumers with financial counseling and debt management planning to negotiate a lower interest rate on their credit cards debt.   This is a good option for those who are making their monthly payments on time, but are struggling to do it because the payments are too high. Lowering the interest rate will lower the monthly payments.

If you have a job and can still make your monthly payments, do not want to become delinquent and ruin your credit, and do not want to deal with collectors, you may want to consider this counseling option.

Option 2 – Mortgage Refinancing Loan or Equity Line of Credit – If you are a homeowner, have equity in your house, and have good credit, this is a good option to explore. Mortgage Refinancing Loan or Equity Line of Credit  to consolidate your unsecured debts may be the best option to explore and get the debt relief you need.

Consumers who choose the refinancing loan option can refinance the mortgage and get a lower interest rate to lower the monthly payments. The money saved on the lowered monthly payments can be used to pay the credit cards debt and other unsecured debts.

Some consumers choose the Equity Line of Credit to pay all their credit card debts and other unsecured debts and make only one payment a month, instead of paying several credit cards and other unsecured debts every month.

Option 3 – Debt Settlement (Also Called Debt Negotiation) – This is an option for consumers who are carrying high amount of credit cards and other unsecured debts, the late fees and high interest rate continue increasing their debt due to late payments or no payments at all, and they are dealing with calls from creditors and collectors.

Some of the debts that can be settled under this option are credit cards debt, medical bills, car loans and  personal loans without collateral. A debt settlement option can help consumers to reduce their debts substantially, up to 40 or 50% reduction. The consumer will be able to pay the settled amount within three to five years.  You can save more if you pay the settled amount sooner.

Option 4 – Bankruptcy – For many people the word Bankruptcy is frightening. However, it can be the best solution for those consumers who are in a hopeless financial situation. If a consumer files for  Bankruptcy, his attorney will advise him  to file for Chapter 7 or Chapter 13 option, whichever applies to his financial situation.

This is the last resort to solve extreme debt problems. Nevertheless, it is the best solution for many consumers who don’t have any other choice. Consumers who are buried in high amount of unsecured and/or secured debts and are completely insolvent, should explore this option.

If the consumer has assets, he may have to surrender some of them to the Court to pay his creditors once they are sold. Otherwise, he won’t lose anything. Either way, this is a way that many consumers choose to straighten out their finances and start a new life without the burden of debts.

Now you should have a better idea of how these programs work and how to choose an option to solve your debt problems. You don’t have to keep struggling anymore.  Take time to read the information on this Blog and prepare yourself to get the help you need.  Visit the top three reviewed debt settlement companies — CuraDebt, Crusader Consumer Services and Debt Consolidation Care – which offer free information to consumers who are searching for debt relief help.

Posted in Credit Cards Debt, Credit Counseling, Debt Relief Help, Debt Relief Information - Tagged , ,

My Credit Cards Debt is Out of Control – Is Getting Help on the Internet Safe?

Mar23
2012 Leave a Comment Written by E.Padro

Today is another day of struggling for thousands of people who are deep in credit cards debt — and at the same time — a day of freedom for those who took advantage of the debt relief available to deal with their debts and become debt-free.

For many it’s not an easy decision to trust a stranger on the internet to help them with their personal finances. It’s understandable and justified to think this way considering the scams going on these days when unscrupulous individuals take advantage of people.

But as time goes by the internet is becoming an indispensable part of our daily lives. We pay our bills online, we purchase goods, we work online, we do business online, we study online, and we communicate with each other online, among others. Therefore, if we trust the internet to do all these things, it can also be a safe place to take care of our debt problems.

That’s one of the reason why I recommend you to read and learn the steps to follow to get rid of your debts before you make a final decision to choose a debt relief program. The information you need to start is right here in this blog. But if it is not enough to convince you, search on the internet for debt relief help blogs and study all you can.

Your Debt Problems Solution – CuraDebt, Debt Consolidation Care or Crusader Consumer Services

Needless to say that here you can find the three top reviewed debt settlement companies that can help consumers in debt to find the best solution to their debt problems. Here you have CuraDebt, Debt Consolidation Care and Crusader Consumer Services, to have all your questions answered.

There are many debt relief options to choose from and the debt relief company you select will work with you to make sure that the option you choose is the best one for you based in your financial need. If you can straighten out your debt problems on your own, great, but if you can’t, get the debt relief you need before your life is turned upside down.

Analyze your financial situation and see where are you standing financially right now. If you are struggling to make payments every month, or if you can’t make any payments at all, it’s time for you to think seriously and start searching for the debt relief help you need.  Owing money without the possibility of paying it back can be a big burden not only for you, but also for your family.  Needless to mention all the harassment from creditors and debt collectors that you may have to deal with on a daily basis.

In addition, there is no shame for being in debt, most people are dealing with high amount of credit cards debt and other debts these days. The important thing to do is to do something about it.  The faster you start searching for help, the sooner you’ll be able to regain control of your finances and start enjoying a debt-free life with your family and friends.

Posted in Debt Relief Help, Debt Relief Information, Debt Settlement Companies - Tagged , , ,

Are you still struggling with credit cards and other unsecured debts?

Mar05
2012 Leave a Comment Written by E.Padro

Are you still struggling with credit cards and other unsecured debts? Is finding the debt relief you need is too challenging? I can assure you that if you take some time to read all the posts in this blog, you’ll find all the answers you need to make the right decision and become debt-free.

Dealing with mountains of credit cards debt is not easy for anybody, it’s something that stays in the back of our minds all the time. In addition, the stress it causes can turn our lives upside down and affect our daily lives and family relationships. But all of that can change if this is your current situation and you really want a better life without the burden of debts.

There is a variety of good alternatives for debt relief help available today like credit counseling, equity loan, debt settlement, debt consolidation and banktrupcy as the last result, amongst others. Learning all the options available and how to choose the one that is right for you is the first thing you should do. The more you know, the best prepared you would be to regain control of your finances again.

Stop Struggling and Find Out How to Deal with Your Debt Problems Below

This blog has plenty of information to help you learn and understand what steps to follow to become debt-free. It also includes reviews of the top three debt relief companies who have help thousands of people through the years. Each one of them offers free information to answer any question you may have without any obligation.

These three top reviewed debt relief companies are CuraDebt, Debt Consolidation Care and Crusader Consumer Services. They provide free information to answer all your questions and at the same time, you’ll have a good understanding of how these companies work and how they can help you. There is nothing to lose, instead, you’ll learn the right way to deal with your credit card debt and any other debt problems.

If you have read the posts in this blog by now, you are aware that these debt relief companies not only take care of your credit cards and other unsecured debts like medical bills and car loans, but also secured debts and business debts. They all deal with debt problems and help their customers to find the best debt relief option based on their financial needs.

Remember, debt settlement programs can negotiate your credit cards debts and other debts by reducing the balance substantially. This will release you from the stress of struggling to make high payments every month and help you maintain a better credit score.

Debt relief can help you eliminate, reduce or consolidate all your credit cards debts, lower your monthly payments, and free yourself to live a more satisfying life regaining control of your finances again. Act now and start learning, here you can find all the debt relief help information you need for free.

Posted in Credit Cards Debt, Debt Relief Help, Debt Relief Option Research, Debt Settlement Companies - Tagged , , ,

Are You Struggling to Get Rid of Your Debts? Don’t Despair, Here You Can Get the Help You Need

Jan29
2012 2 Comments Written by E.Padro

Is getting rid of your debts included on your 2012 goals? If your answer is YES, I suppose that you have been searching for ways to accomplish your goal. Credit Cards Debt has become the easiest way for many of us to build up a high amount of debt that eventually can spin out of control. One thing that you should keep in mind is that you are not alone.

Millions of people these days can’t afford to live out of debts. Those who are buried in debts and can’t get rid of them on their own, are struggling to make monthly payments and sometimes they cannot even do that. This is the time when credit cards debt can become a real nightmare and destroy your peace of mind, family relationships, and your life in general.

Get Rid of Your Debts – Help is Available

These days technology offers us ways to do anything we want online, from learning, seeking advice, working online, to do our shopping online, pay our bills, and even finish a career online. Most people do all these things on the Net these days. Finding debt relief help is not different. Getting rid of your debts using the internet is the fastest way for you to learn, compare services and find the debt relief help you need.

This blog offers lots of information about debt relief to help you learn what to do, how to do it, who qualifies, and it also includes the top three reviewed debt settlement companies that can help you get rid of your debts. It will take a little time on your part to read and learn what steps you should follow and which is the best debt relief option for you, but the time you spend will be worthwhile.

Once you learn how things work and what is expected from you, nobody can fool you. You’ll be able to find the help you need making the right decision. These are some of the debt relief options available: Mortgage Refinancing Loan, Equity Line of Credit, Credit Counseling, Debt Settlement, and Bankruptcy. Each program listed here offers either counseling or solutions for different financial scenarios.

Read all the posts on this blog and learn before you commit to sign up for a debt relief program. It’s essential for you to know the benefits and drawbacks of each option before you make a decision. In addition, check here the top three reviewed debt settlement companies: Curadebt,  Crusader Consumer Services, and Debt Consolidation Care,  to see what they offer, how they deal with their clients, and more information that can be very useful  when you are ready to get the debt relief help you need to straighten  out your finances.

Posted in Credit Cards Debt, Debt Relief Help, Debt Relief Information - Tagged , ,

Credit Cards 0% APR Promotional Offers – Avoid Costly Mistakes and Save Money

Jan05
2012 3 Comments Written by E.Padro

Let’s start with the benefit of taking advantage of credit cards offering you 0% APR for a limited period of time to transfer balances from higher interest rate credit cards. Offers can go from 6 to 21 months at 0% interest. It sounds great, but first you should read the fine prints. Don’t ignore this step, it can save you from making a costly mistake that you may regret for a long time.

Before you accept one of these credit cards promotional offers, you need to know the interest rate (APR) you’ll pay after the promotional offer ends if you are still carrying a balance. Let’s say that you have a balance on a promotional offer for a period of 6 months and after the sixth months you still haven’t paid the full balance. The APR for the outstanding balance will be the standard APR. When you multiply the outstanding balance by the new APR, it can be a big chunk of cash that you would have to pay every month until you pay the full balance.

Therefore, make sure that you can pay the whole balance during the promotional period. This way, you don’t have to pay any interest. Keep in mind that a transfer fee of up to 5% will be applied to the balance you are transferring. If you can’t pay the whole balance at the end of the 0% promotional rate, choose a card that offers the lowest APR after the promotional rate ends. For example, 0% APR for 12 months, and under 10% APR for the remaining balance until it is paid in full.

There will be times when you’ll receive a credit card 0% APR promotional offer for 6 or 12 months and once the promotional period ends the standard APR can go over 10%. On the same offer you may have the option to choose a 3.99% APR for 6 or 12 months and then 6.74% APR until you pay the full balance. In this case, if you can’t pay the full balance at the end of the 0% APR, the 3.99% APR offer may be a better choice.

Let’s assume that you have a balance of $2000 left at the end of the 12 months 0% APR, you’ll be paying over 10% APR every month until your balance is paid in full. On the other hand, if you take the 3.99% APR, after the promotional period ends, you can pay as low as 6.74% APR for the $2000 until you pay the full balance. Even though you’ll pay the 3.99% during the promotional period and 6.74% thereafter, it may still be a better deal. Do the math before you make a choice.

The 0% APR promotional rates are excellent if you can pay the full balance during the promotional period. Otherwise, do the math and see how much would you end up paying if you’re still carrying a balance at the end of the promotional period. These 0% offers are very convenient to transfer balances from other credit cards with high interest rate. Remember that most of these offers require a transfer fee of up to 5%.

Many of these 0% APR offers only apply to purchases, but some allow transfer balances from other credit cards with high interest rate. All offers are different, so you need to read the fine prints before you make a choice. You may receive five different offers with 0% APR for 3, 6, 12, or 21 months, but the standard APR after the promotional period ends can be different for each one of them, some are lower than 10% and others are higher.

NOTE: Once you accept a promotional offer, make sure that you are not late on your payments. The credit card company will terminate your promotional APR immediately and you’ll end up paying the standard APR they have. Therefore, mail your monthly payment at least ten days in advance. If you pay your credit card bills online, schedule the payments in advance. One time late can cost you a lot of money and create a negative effect on your credit score.

Think about this worst case scenario: You transferred $5000 to a 0% promotional offer for 12 months and 13.99% after the promotional period ends plus 5% transfer fee ($250). Your first payment was late, for whatever reason. The credit card company will not only hit you with a late fee (e.g. $35), but will stop your promotional APR and apply the standard APR to the $5285 you owe.

Let’s assume that the new APR is 13.99% x $5285, you’ll be paying approximately $74 on interest every month, just because one payment was late. I’m just using a 13.99% APR as an example, some credit cards companies may charge up to 29.99% APR or more. So, protect yourself, read the fine prints and do the math before you make a commitment. You can save a lot of money on your credit cards debt if you are cautious.

Posted in Credit Cards 0% APR Offers, Credit Cards Debt - Tagged ,

2 Ways to Save Money Without Adding to Your Credit Card Balance

Dec15
2011 1 Comment Written by E.Padro

Monthly Bills  – Save on Postage and Avoid Late Fees 

Most people have more than two or three credit cards. Some may have five or more cards all carrying a balance. This make monthly payments more difficult because you have to issue a check for each one every month. Then you add to this the rent or mortgage, car payment, utility bills, and any other bill you may pay monthly.

At the end of each month you end up spending money on postage that is really money wasted. In addition, if for any reason you forget to mail a payment, you’ll get a late fee of twenty nine dollars or more. If the credit card balance was under a promotional rate, your interest rate will skyrocket to a higher rate, making your monthly payments go up. A way to avoid this and save on postage every month is doing your payments online. You can schedule the payments in advance to avoid late fees.

Christmas Gifts – Avoid Charging Them to Your Credit Cards

Now that Christmas is around the corner we all want to show our love and appreciation to our family and friends, coworkers, etc. We can be cautious and avoid going in a shopping spree and max our credit cards in order to buy presents for each person. There are ways to do it without spending more than what you can afford.

If you want to buy a gift for ten families who each one has two or more family members, it would be easier and less expensive to make your own gifts. Let me give you an example. Ten families x 2 members each, equal 20 and just spending ten dollars on each one, you will pay $200 just on gifts. One give per family, instead of individual gifts for each member will save you a lot of money.

When you add all the extra expenses for Christmas and New Year’s dinners and entertainment, you end up spending hundreds of dollars in just a few days. You’ll be amazed of how much money you can save making the Christmas gifts for your family and friends yourself.

One gift that I receive every year from one of my relatives is a beautiful fruit basket. I wouldn’t change that gift for anything else. The basket is filled with fruits, jelly, homemade cookies, and other goodies.  You probably think that it’s too much trouble and it would be easier to buy a gift.

You are right, but if you are short on money, you’ll spend much more buying individual gifts, than taking some time to make them yourself. So, if you have the time to do it and need to save money, this can be a great gift. This is a gift that would not end up hidden in the closet for years.

Other gifts ideas are:  homemade cakes, cookies, and pies with Christmas decoration.  Most families with children love this type of gifts that they can all share. The personal touch would mean a lot to them and they will always remember you.

The people who can afford an individual gift for every person on their list don’t have to worry about saving, but those who are in debt would save a lot following these gift ideas. It requires a little time from yourself but in the end it worth it. Your children can help you and at the same time they will learn the value of money and the importance of not getting in debt unnecessarily.

Another idea is to sell stuff that you don’t need anymore and create a fund just for gifts. We all have tons of stuff around the house that are in excellent condition but we don’t use them anymore, or in some cases, we have never used. Keep in mind that those things that you haven’t used in a year, you would probably never use at all, you may not even remember them.

 

 

Posted in Credit Cards, Ways to Save - Tagged

How to Claim Exemptions from Garnishment

Dec01
2011 4 Comments Written by Jenny Miles

How To Claim Exemptions From Garnishment
By [http://ezinearticles.com/?expert=Jenny_Miles]Jenny Miles

More and more people are getting into debt these days. From bad decisions when purchasing a home to overusing a credit card to buying too much “stuff”, the more of these impulse buys we make the more we are going to lose in the end.

Creditors can almost reach into your bank account and take your money without your approval. This is called garnishment and it is a lawful tool for creditors to get the money you own them. It is often the last thing they want to do because they have to take you to court and this includes court fees and a lot of time wasted for all parties involved.

The most common garnishments are for child support, defaulted student loans and unpaid taxes. There are certain ways to avoid this and the process in which money is taken from your bank account or even your paycheck has certain exemptions.

The government limits the amount allowed to be taken so the debtor has enough money left to survive. Different states have different restrictions so depending on where you live, more or less will be taken. The maximum that can be garnished is 25% of your paycheck and your employer has to comply with the order. If it is for child support than up to 50% can be taken. One way or another they are going to get a good chunk of your money so the best thing to do is to avoid this all together.

If you don’t want this to happen, file a motion with the court and they should grant you an exemption you can bring to the bank. A special form to claim the exemption is available at the court that has sent you the writ of garnishment.

What about social security benefits, are they exempt from garnishment? It depends. If you place that money into a regular savings or checking account in your bank, they have the right to take it out. As long as the money is liquid in your bank, it’s liable to be used to pay off your debts.

There are other ways to stop garnishment from happening at all. You will receive more than one notification before it happens so obviously the best thing to do is just to pay it off on time. If you can’t for whatever reason, you need to forget about being afraid and either go meet with your creditors or give them a call and figure out how you can come to an agreement for a new payment plan.

Sometimes working with a debt relief agency can help you organize your credit and see how it can be fixed. Many of them don’t charge much and it’s not as difficult as you think.

Jenny Miles writes about financial problems such as debt management and bankruptcy. Learn more about your options for how to [http://www.howtostopgarnishment.com/garnishment/how-to-claim-exemption-from-garnishment/]claim exemption from garnishment on her blog.

Article Source: [http://EzineArticles.com/?How-To-Claim-Exemptions-From-Garnishment&id=6672764] How To Claim Exemptions From Garnishment

Posted in garnishment - Tagged

Pros and Cons of Debt Settlement

Nov07
2011 1 Comment Written by E.Padro

Most people are dealing with credit cards debt these days. Once your debts get out of control, the only way out is to do something about it.

But now you find yourself, not only worrying about your debts, but also worrying if getting help from a debt settlement program will help you, or put you in a worst position than you are now.

To help you make a decision, study the pros and cons of debt settlement below. It should help you decide if this is the best option for you, or if you should explore another debt relief option. Keep in mind that there are other options available.

Debt Settlement Pros

  • You will have professional help to choose the right debt relief option and get out of debts.
  • Your unsecured debts can be settled at a lower interest rate and only one monthly payment.
  • You won’t have to struggle every month making payments to several credit cards carrying a high interest rate.
  • Your original unsecured debt will be reduced and the interest rate will be lower, what means more savings.
  •  You can get out of debt sooner, three to five years the most.
  • You won’t have creditors and collectors harassing you all the time.
  • You won’t be sued by your creditors.
  • You won’t have to file for Bankruptcy.
  • You and your family will have peace of mind.

Debt Settlement Cons

  • You have to pay settlement fees that can be more than you may be willing to pay.
  • Debt settlement can have a negative effect on your credit score. It can last for seven years on your credit report.
  • It’ll be difficult for you to get approved for a loan, car purchase, mortgage or any purchase that requires a good credit score.
  • You won’t be able to use your credit cards.
  • You won’t be approved if you apply for new credit cards.
  • You may have to pay taxes for the settled amount of your debt.

Those who can still make monthly payments should explore the debt settlement option. Debt relief programs have helped many consumers get out of debt and start a new life. Study your financial situation and if you need debt relief  help, don’t wait any longer, you don’t have to be in debt forever.

Posted in Credit Cards Debt, Debt Relief Help, Debt Relief Programs, Debt Settlement Companies - Tagged ,

Ready to Get Rid of Your Credit Cards Debt? 5 Steps to Get Debt Relief Help

Oct31
2011 Leave a Comment Written by E.Padro

Step 1.  Research for Debt Relief Help Information

Getting debt  help is very difficult for many consumers who have serious debt problems.  One of the reason for this is that most of them don’t know how to get help or how to find a reliable debt relief company.  However, taking time to find debt relief information is the solution to start dealing with your financial problems.

The truth is that those who search for debt relief information are better prepared to deal with their debt problems than those who don’t do it. Although it takes time to gather all the information you need to learn how to get help , it is important to keep in mind that this is an essential step to follow, if you want to  find the right debt relief option and the right company to settle your debts.

If you search for debt relief help on the internet, you’ll find many blogs with debt relief information and  hundreds of debt relief companies advertising their services. Your first step is to research for debt relief help blogs and learn all you need to know before you proceed to search for a company.

Step 2.  Choose a Debt Relief Option

Once you finish with the first step, you should be able to know if you qualify for debt relief help and which option is the best one for you.  Keep in mind that you may qualify for more than one option, so make sure that you study both options and choose the right one.  Each option has benefits and drawbacks that you should be aware of before you make your decision.

Debt relief options available:  Credit Counseling, Debt Settlement, Debt Consolidation, Mortgage Refinancing, Equity Loan, or Bankruptcy

Step 3.  Prepare a List of All Your Debts

At this point all you have left to do is to find the debt relief company that will help you handle your debts.  Before you go to the next step,  gather all the documents pertaining to your  unsecured and secured debts, including  debt amount, monthly payment, contact and billing information.  You’ll need this information when you contact the debt relief companies to compare benefits and drawbacks.

Step 4.  Choose Three or Four Debt Relief Companies

Now that you chose your debt relief option and have the list of your debts, it’s time to choose the company that will help you handle your debt problems.  My recommendation is that you choose at least three or four debt relief companies. Make sure that they have been in business at least two years or more.

Check for complaints with the Better Business Bureau, and if they are members of the Fair Debt Collection Practice Act (FDCPA). Do some research about the FTC to become aware of the new regulations concerning upfront debt settlement fees and full fee disclosure statements that consumers are entitled to before they sign a contract.

Companies that ask you for upfront fees before they settle your debt with your creditors, are not working in your best interest. The FTC banned this practice last year and any legitimate debt settlement company should comply with this regulation.

5.  Compare Benefits and Drawbacks Before You Sign a Contract

Once you  find the three or four debt relief companies, compare the benefits and drawbacks for each one. Make sure that you have all your questions answered.  It’s important for you to know what you can expect before you sign a contract. Remember, a  reliable company will answer all your questions and will help you choose the debt relief option that is best for you.

Learning how to find  a debt relief option and a debt relief company is not that hard, but it requires some research from your part to know how to do it step-by-step, so you can make the right choice and become debt free.  Study all the information you can find, including this blog that provides lots of information to help  you start dealing with your debt problems.

Posted in Credit Cards Debt, Debt Relief Help, Debt Relief Information - Tagged ,
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