You can choose from a variety of choices to help you deal with debt if you're having trouble keeping up with payments. To name just a few examples: bankruptcy, credit counseling, debt management plans, and debt consolidation.
Debt consolidation loans and interest rate reductions from debt relief firms can pave the way to financial freedom. They can also aid in financial planning and retirement preparation.
The Liberty Debt Reduction Program
Free debt reviews and connections to nonprofit credit counseling services are available through Freedom Debt Relief, a debt settlement website. Credit card, medical, and even certain private student loan debt can be settled for a percentage of the debtor's savings, with fees ranging from 15% to 25% of the amount enrolled in the program.
A client voluntarily stops making payments to creditors and instead deposits that money into an FDIC-insured account at the outset of the program. As soon as sufficient funds are available, Freedom Debt Relief will begin contacting creditors to negotiate payment plans and lower accounts.
After negotiating a settlement, you can pay the agreed-upon amount into your Freedom Debt Relief account. Your credit report will not be affected once the account has been reported as settled by your creditors.
CuraDebt
People with credit card debt, medical bill debt, or any other type of unsecured loan can get some relief with CuraDebt. In addition, they provide reduced tax liability.
They deal with matters pertaining to taxes for businesses and individuals, including but not limited to: tax returns, tax payments, tax penalties, back taxes, wage garnishments, trust fund fines, and more. They charge a fixed rate and don't tack on any extra charges.
You pay into a designated account on a regular basis, and the staff there monitors it for abuse by creditors and collectors. They then negotiate with the creditor for a settlement that is lower than what you owe.
In addition, CuraDebt investigates statutes like the Telecommunications Consumer Protection Act and the Fair Debt Collection Practices Act to uncover violations by creditors and earn you cash awards or debt dismissals.
Although the organization doesn't specify an average discount their clients receive, those discounts often range from 50% to 80%. To find out if this program is right for you, you can schedule a free initial session with a counselor.
National Debt Relief
If you are struggling to make minimum payments on unsecured debts, then a debt settlement program may be a viable alternative for you. Companies like National Debt Relief can negotiate to your creditors on your behalf and reduce the amount you owe by as much as 50%.
If you have at least $7,500 in unsecured debt (such as credit cards, personal loans, medical expenses, and company debts), you may be eligible to file for bankruptcy. You should also be several months behind on payments and in a position to make monthly payments to a corporation at a prearranged interest rate.
When you sign up with National Debt Relief, they will stop making payments to your creditors and instead put that money into an escrow account. When the funds in the escrow account reach a predetermined threshold, they initiate debt settlement talks with your creditors.
Cancel your credit card balances and other outstanding debts.
Time to take action if you're drowning in debt. Debt consolidation, debt management plans, and budget counseling are all options.
Create a budget that takes into account your regular income and expenses (such as your mortgage/rent, utilities, food, etc.). Money from sources such as savings interest and regular paychecks can also be counted.
The next step is to prioritize your expenditure by creating a hierarchy of categories for your money outlays. According to Sean Fox, co-president and chief operating officer at Freedom Financial Network, this will free up funds that can be applied to the debts.
Once you have a workable budget in place, prioritize paying off the debt that has the greatest impact on your life. As you pay off one loan, prioritize paying off the next one with as much of your extra cash as you can spare.
Debt consolidation loans and interest rate reductions from debt relief firms can pave the way to financial freedom. They can also aid in financial planning and retirement preparation.
The Liberty Debt Reduction Program
Free debt reviews and connections to nonprofit credit counseling services are available through Freedom Debt Relief, a debt settlement website. Credit card, medical, and even certain private student loan debt can be settled for a percentage of the debtor's savings, with fees ranging from 15% to 25% of the amount enrolled in the program.
A client voluntarily stops making payments to creditors and instead deposits that money into an FDIC-insured account at the outset of the program. As soon as sufficient funds are available, Freedom Debt Relief will begin contacting creditors to negotiate payment plans and lower accounts.
After negotiating a settlement, you can pay the agreed-upon amount into your Freedom Debt Relief account. Your credit report will not be affected once the account has been reported as settled by your creditors.
CuraDebt
People with credit card debt, medical bill debt, or any other type of unsecured loan can get some relief with CuraDebt. In addition, they provide reduced tax liability.
They deal with matters pertaining to taxes for businesses and individuals, including but not limited to: tax returns, tax payments, tax penalties, back taxes, wage garnishments, trust fund fines, and more. They charge a fixed rate and don't tack on any extra charges.
You pay into a designated account on a regular basis, and the staff there monitors it for abuse by creditors and collectors. They then negotiate with the creditor for a settlement that is lower than what you owe.
In addition, CuraDebt investigates statutes like the Telecommunications Consumer Protection Act and the Fair Debt Collection Practices Act to uncover violations by creditors and earn you cash awards or debt dismissals.
Although the organization doesn't specify an average discount their clients receive, those discounts often range from 50% to 80%. To find out if this program is right for you, you can schedule a free initial session with a counselor.
National Debt Relief
If you are struggling to make minimum payments on unsecured debts, then a debt settlement program may be a viable alternative for you. Companies like National Debt Relief can negotiate to your creditors on your behalf and reduce the amount you owe by as much as 50%.
If you have at least $7,500 in unsecured debt (such as credit cards, personal loans, medical expenses, and company debts), you may be eligible to file for bankruptcy. You should also be several months behind on payments and in a position to make monthly payments to a corporation at a prearranged interest rate.
When you sign up with National Debt Relief, they will stop making payments to your creditors and instead put that money into an escrow account. When the funds in the escrow account reach a predetermined threshold, they initiate debt settlement talks with your creditors.
Cancel your credit card balances and other outstanding debts.
Time to take action if you're drowning in debt. Debt consolidation, debt management plans, and budget counseling are all options.
Create a budget that takes into account your regular income and expenses (such as your mortgage/rent, utilities, food, etc.). Money from sources such as savings interest and regular paychecks can also be counted.
The next step is to prioritize your expenditure by creating a hierarchy of categories for your money outlays. According to Sean Fox, co-president and chief operating officer at Freedom Financial Network, this will free up funds that can be applied to the debts.
Once you have a workable budget in place, prioritize paying off the debt that has the greatest impact on your life. As you pay off one loan, prioritize paying off the next one with as much of your extra cash as you can spare.
