Debt relief programs have become a popular way to reduce monthly payments and get rid of excessive debt. Once you approach your senior years getting rid of debt becomes a priority.
In this article, we will discuss and compare various debt relief programs. In addition, we will see what affect a debt relief program will have on your credit. You will be able to determine if this is a good solution for your circumstances. First, let’s define what a debt relief program is.
What Is Debt Relief?
A debt relief program does not eliminate all of your debt. However, the amount you are paying each month will be reduced. This is accomplished when the program negotiates with your creditors and a settlement is agreed on. You will end up paying less than you actually owe and interest rates are no longer accrued.
What Type of Debt is Included?
The type of debt included in a debt relief program is any unsecured debt you have. For example, credit card debt, medical and personal loans. Generally, you must have debt in the amount of at least $7500 to qualify for a debt relief program. Each program may have their own qualifications.
Will It Affect My Credit?
Enrolling in a debt relief program will have an effect on your credit score. Initially, it will create a negative impact which is something you will want to weigh before deciding to enroll. If you are experiencing anxiety over monthly payments, then taking a hit on your credit may be worth it to you. If you are having trouble making those monthly payments individually, your credit score is going to be affected regardless. However, over time your credit gradually improve.
Debt Relief Programs
If you decide to go with a debt relief program, make sure you go with a reputable one. There are a number of good programs available if you decide this is the way to go for your situation. We will take a look at a few of the top rated ones for you to compare.
Top Rated Program
One of the top rated debt relief programs comes from National Debt Relief. In fact, it is actually number one in this field. The Better Business Bureau has accredited this program with an A plus. It has been in business for more than ten years. They currently have more than 100,000 customers. If you decide to go with a debt relief program, this one is a good choice.
What’s Good About National Debt Relief?
There are no fees to pay upfront to get started with National Debt Relief. Their staff is polite and very capable of answering any questions you have. They are actually certified debt advisers. You will be asked about your debt and will discuss with you a plan for debt relief. Your options will be described to you. Ask plenty of questions and let them help you make a decision.
How Much Will I Save?
The amount you save will depend on the amount of debt you have. Obviously, this will vary from client to client. They will negotiate with your creditors to pay off your debt for less than the amount you owe. For example, instead of making 5 or 6 monthly payments to your creditors, you will make 1 payment and the program will distribute the funds for you. The process is not complicated and the result can bring relief.
Use CuraDebt to Manage Financial Goals
CuraDebt is a web-based debt relief service that is tailored specifically for those that have outstanding debt with credit institutions and is a great option for those that need personal debt relief or business debt relief. When you first visit the CuraDebt website, you will be given a free consultation. This is so that they can get a better feel for your situation and decide the best course of action to help relieve your debt.
They will help you to reach financial goals by give you access to a support staff of highly competent professionals that have helped many others with their debt, and will be more than happy to help you as well. They will ask you what you wish to accomplish with your credit and they will do everything that they can to ensure that you get there. Here are some of the services offered by CuraDebt:
- Counseling Services For Debt Management
When you start the process of using CuraDebt to help manage your debt, you can expect them to send you an email containing information about who it is that will be assisting you and working on your case with you. Also, expect a phone call. The person on the other end of the phone is an experienced professional that is calling to hear your side of the story. This is when you explain to them your financial situation and what it is that you expect from them, to be able to help you. It’s very important that you are honest during this step because this will be how they figure out which services you need and how they can help you best.