Debt relief and consolidation is a popular topic among consumers looking for help dealing with mounting debt. A number of companies are available online and in some local areas offering debt relief and consolidation services. The debt relief industry has grown dramatically over the past few years due to the global economic crisis. Many of these companies are not legitimate and only want to take your money and run. To avoid being taken advantage of, be sure to research each company thoroughly.
Accredited Debt Relief. Accredited Debt Relief provides the professional assistance you need by matching you with companies that help with managing debt from a credit card company. Services typically go beyond debt consolidation and often include credit counseling, debt negotiation, debt consolidation plans and bankruptcy assistance. A credit card debt consolidation plan can lower your monthly payments and lower your interest rates.
Debt Settlement Specialists. If you are having trouble making your monthly payments and would like to negotiate a lower interest rate, a debt settlement specialist may be able to do this for you. While these companies cannot guarantee to help you get out of debt, they do have some of the best debt relief companies working for them.
Debt Settlement Specialists. Debt settlement is a service that some debt relief companies offer but charge for. These debt relief companies typically work with a debt settlement specialist. These specialists are well trained to negotiate with creditors and will often get a discount on the debt owed to them. They will also try to make the creditor to agree to a settlement rather than continue the collection efforts. Debt settlement is also a great option for unsecured debt.
Debt Consolidation. Some debt relief companies offer a program of debt consolidation loans to pay off all of the debts you owe. This can be an excellent choice if you have gotten in over your head with credit cards and would like to consolidate those debts into one easy monthly payment. However, if you have a lot of debt and late charges on your credit cards, a debt consolidation loan may not be the answer for you. Debt consolidation requires a house payment and may have a higher interest rate than other options, depending on your credit score and available funding.
Both Debt Settlement and Debt Consolidation can be great options to consider for debt relief and consolidation if you need assistance financially. According to a debt settlement specialist in New Orleans, before you decide on which plan is right for you, make sure you are aware of how each works. Make sure the company you choose to work with is trustworthy and reputable, and that you understand what it means to have their service paid for by your creditors. A reputable debt settlement company will try to negotiate with creditors on your behalf to reach agreeable terms on what you are owed, as well as any fees and charges associated with the consolidation.