How Can I Get out of Debt?
Did you know that the average household in the United States has almost $16,000 in credit card debt?
With the combination of student loans, mortgages, auto loans, medical expenses, business loans, and other debts, people across the country are struggling.
If you need help getting out of debt but aren’t sure where to start, know that you have a few options at your disposal.
Depending on your financial situation, including factors such as amount of debt, income, and other circumstances, you may find yourself leaning towards one of these options.
Take a look at what you can do to become debt free:
What Are My Debt Relief Options?
1. Debt Management
A debt management company will analyze your financial situation and negotiate with your creditors on your behalf to lower your interest rates. This can make your repayment terms longer, or lower your monthly payments, whatever makes it easier for you to pay back your debts. You will pay the debt management company a negotiated monthly rate between itself and your creditors, plus any fees they may charge. The debt management company will distribute the funds you paid to your creditors.
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2. Debt Consolidation Loan
If you want to pay back your high interest debts all at once, you may choose to consider a debt consolidation loan. This is something you can do yourself. You can contact a bank or credit union to open up a debt consolidation loan, allowing you to pay off your current debts in exchange for one lower-interest loan with the bank or credit union. Be aware that with a debt consolidation loan, you need good or excellent credit to qualify.
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3. Paying Off Your Debts By Yourself
Not everyone that is in debt needs the help of an outside party. For some, all it takes is a better budget and the willpower to stick to it. Know that you can also contact your creditors to discuss your situation and negotiate a repayment plan. However, you must provide evidence of financial hardship. Even so, your creditors are not obligated to negotiate with you, so you may need the help of a debt expert to fight for you.
If you are facing serious financial hardship and have little to no source of income, you may be considering bankruptcy. Chapter 7 and Chapter 13 bankruptcy are the most common forms of bankruptcy available to most consumers. Though bankruptcy is a drastic measure, it may be the right option depending on your circumstances. Know that following through with bankruptcy will have a dramatic effect on your credit, which may make it much more difficult to apply for or use credit for the next several years (7 to 10 years).
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Why Guardian Debt Relief?
How We Are Different
See What Our Clients Say
See what our past and current clients are saying about Guardian Debt Relief
“The process was very smooth, the staff was very helpful and their expertise brought my case to a successful end. I was very pleased with how much they were able to settle on my account. I would recommend Guardian Debt Relief to any family or friends that need your services."
Teren G., Bronx NY
“I went overboard with my credit card when l lost my job and l didn’t know how l would pay it back! Thank God for Guardian Debt Relief, they really saved me. l was so uneasy about all these debt relief companies because there are so many of them! But Guardian Debt Relief was so understanding and professional, they really worked with me! I am glad l went with them, because they cut my debt at least 35% or so! Thanks again Guardian Debt Relief!”
Effie O., Kew Gardens NY
“I want to give a huge thank you to Guardian Debt Relief. You have done a great job at helping me put my life back together. I am so pleased that you were able to take care of the debt I owed. I was at a loss and thought I would have to file bankruptcy, but you were able to keep me from having to do that. Everyone was so great at helping when I would call. Thank you again!”
Deborah I., Temple TX
"I had a great experience with Guardian and would recommend this company to friends and family. Thank you so much."
Kathryn K., Brooklyn NY
“I am very appreciative for everything that you did for me. It really meant a lot.”
Faton G., Bronx NY
“Thank you for your help! We were able to pay off the credit cards within the year which would not have been possible without your help.”
Mardean E., Abilene TX
Are You Ready to be Debt Free?
If you think debt settlement is the right solution for you, then take the first step to a debt free life!
Fill out the form to the right to receive a free debt relief quote!
One of our debt experts will reach out to you and discuss your options.
Guardian Debt Relief is here to help protect your financial freedom!