Benefits of Debt Settlement
Trying to tackle your debt on your own can be very stressful and overwhelming, especially when the debt is thousands and thousands of dollars. Having help can be comforting and will help to relieve a lot of the stress off of our shoulders. Also having someone you can rely on will make the process of relieving yourself of debt a little easier. No one likes to do things alone, not even get out of debt.
A debt settlement company is a beneficial and motivating service that can aid you in your debt relief goals. There are licensed professional debt settlement counselors who will tailor a debt relief program to your needs.
Debt settlement counselors’ goal is to make sure that not only are they helping you become debt free but also that you are getting the best reduced debt settlement possible. They want you to stop stressing and become more financially stable.
Improving your credit and your future personal finances is one of their goals. With the help of the debt settlement company you could end up paying way less back to your lenders than you would have if you tried settling alone. Most debt settlement companies attempt to reduce your debt by a significant portion. These companies are able to use their expertise and knowledge on debt and credit cards to negotiate an agreed upon amount for you
Just like a personal trainer pushes you to finish your last rep on the pull-up bar or to finish sprinting at the end of a mile long run, so will a debt settlement company push you to complete the program. They will work with you to relieve you of your debt.
The repayment program is customized to your needs so that it fits into your lifestyle. The program goes at your pace and the counselor is there to make sure you meet your monthly payments and progress towards your end goal.
Deal With Collections
Being called and harassed on a daily basis is a very stressful way to live, but imagine if all those pesky phone calls, unknown numbers and voicemails went away? It’s possible with debt settlement counselors. They will represent you and your debts against your lenders and field all their calls, concerns and messages. You will no longer feel attacked or worried that collectors are after you.
In fact, the calls may completely stop as your lenders see that you are in a debt settlement program in order to improve your credit and try to pay them the money you borrowed. Lenders see your effort, will take notice and will start to deal with your counselor instead of you.
This is never a good option and should always be a final resort for you. Filing for bankruptcy will damage your credit and can stay on your record for a decade. Not to mention, depending on which form of bankruptcy you file, you won’t be eligible for loans or credit cards for up to 10 years.
Filing for bankruptcy is very costly and time consuming as you will slowly have to build back you credit and trust from banks and lenders, in order to show them that you are capable of handling a line of credit again. Ten years might not sounds long but when you think about all the things that could change in that time, it become a very serious decision.
Getting out of debt can be a struggle but if you stay focused and follow your plan, you will be able to reach your goals. Being able to understand your best option for debt relief is important, as not everyone’s debt relief options or goals are the same.
Debt settlement isn’t for everyone, but if you qualify it can be a smooth and painless journey. Not to mention, once you finish the program you will be that much closer to improving your credit and being financially stable.