Credit card debt is increasing at an alarming rate. In fact, America’s total credit card balance is $986 billion, according to the latest consumer debt data from the Federal Reserve Bank of New York.
As interest rates go up, so do the monthly payments, which makes it even more expensive and challenging to meet your financial obligations.
To that end, it’s important you understand your options when it comes to paying off your debt. By putting it behind you, rising interest rates will no longer throw your finances into turmoil.
Debt Consolidation
One popular option is a debt consolidation loan. This method combines your unsecured debts into one new loan with a single monthly payment. You use the proceeds from the consolidation loan to resolve all your current qualified credit card debt, which puts an end to late payments and fees.
However, a loan is just another form of financing that moves your debt from one account to another. It does not typically address the underlying issue of reducing or paying off credit card obligations. On a side note, you can often procure a lower interest rate and save money.
Debt Settlement
Another popular debt relief option is debt settlement, which is the process of reducing the amount of debt you owe by hiring a company to negotiate a lower balance with your creditors.
National Debt Relief can help you pay off your balances for less than you owe in as little as 24-48 months. In fact, you could save up to 50% on your debt.
Debt Settlement Can Fit Your Budget
You and your Debt Specialist will begin the process with a comprehensive analysis of your finances, which helps us select the plan that’s right for your situation. After that, we will examine your personal budget to see how much you can afford to spend on monthly payments.
Rising credit card debt can bring on lots of nasty consequences, including harassment from creditors. The first thing we do is stop the annoying phone calls by having those people contact us instead.
The Benefits Of Debt Settlement
No Loans Required
This method of debt relief does not require taking out a new loan. Instead, you will deposit the agreed-upon monthly payment into a special savings account.
Once there is enough money to cover a balance, we negotiate with your creditors to reduce the amount you owe. If you approve the settlement, we then pay off that balance and move onto the next one
Thanks to relationships with over 10,000 creditors, we know how to get you the best deal possible.
No Experience Required
Applying for a debt consolidation loan can be a complicated and frustrating process. On the other hand, debt settlement is typically easier and doesn’t require an extensive understanding of lengthy loan contracts.
We will explain the entire process to you, let you know what your monthly payment will be and keep in touch to ensure everything goes smoothly throughout the process.
No Accounting Required
When you apply for a debt consolidation loan, you should ensure the loan interest rate is low enough to make the program worth your while.
With debt settlement, the only number you need is our phone number! Our negotiation team takes care of the rest.
Debt Settlement Could Be The Answer
As experts in the field of debt negotiation and settlement, we will work with you to develop a comprehensive plan that fits your budget, time frame and comfort level.
Contact us for the support and expertise you need to pay off your debt, gain knowledge to remain financially independent and start living the life you deserve.
The content provided is intended for informational purposes only. Estimates or statements contained within may be based on prior results or from third parties. The views expressed in these materials are those of the author and may not reflect the view of National Debt Relief. We make no guarantees that the information contained on this site will be accurate or applicable and results may vary depending on individual situations. Contact a financial and/or tax professional regarding your specific financial and tax situation. Please visit our terms of service for full terms governing the use this site.
