Worried About Your Debt? How A Debt Settlement Program Can Help

Posted on: 17 December 2019

If you're in debt, and it's starting to affect your life, it's time to consider the options. One of those options is to apply for a debt consolidation loan. Unfortunately, debt consolidation loans often come with high interest rates, which can leave you paying more than you expected. Not only that, but they can also lead to further debt. Another option is to work with a debt settlement service. This option allows you to pay off your debts without taking on an additional loan. It also allows you to clear your debt for less than you originally owed. Here are just four of the reasons why you may want to choose a debt settlement program

Lower Your Monthly Payments

If your monthly payments are more than you can afford, and they're causing you to fall behind, a debt settlement program can help you get back on your feet. With a debt settlement program, your service provider will work with your creditors to reduce the amount of debt you owe and arrange for lower monthly payments. Once the plan is in place, you'll be locked into monthly payments that you can afford. 

Extend Your Payment Period

If you need more time to pay off your debt, a debt settlement program may be your best option. In most cases, your debt settlement program will allow you to take longer to pay off your debt. However, your debt settlement provider will still need to work closely with your creditors to ensure that your debts are paid off in a timely manner. 

Protect You Against Bankruptcy

If your level of debt is building up, and bankruptcy is looking like more of a probability than a possibility, it's time to consult a debt settlement service. Bankruptcy will leave you negative mark on your credit report that will last for up to ten years. During that time, it will be difficult for you to obtain additional lines of credit. One of the biggest benefits of working with a debt settlement service is that they'll work to help you avoid bankruptcy, altogether. The lower payments, reduced debt, and longer payment periods can work to provide you with the support you need to pay off your debt and get back on your feet. 

Avoid Unwanted Collection Calls

If collection calls are making things unbearable, or creditors are starting to call your friends, family members, and even your employer, it's time to put a stop to the harassment once and for all. A debt settlement program can do just that. They can help you avoid those unwanted collection calls. As soon as you enter into a debt settlement program, the collection calls will cease. 


When to Use a Financial Advisor

Hi, my name is Melinda Jacobs. My husband John and I are in our 50s, and we both still work full-time jobs. I used to be of the mind that we should put every spare penny into an interest bearing savings account. That is, until we started going to a financial adviser. Our finance consultant has showed us how to manage our money in a manner that is going to not only sustain us today but also in the future. I would like to share some of what we’ve learned about saving and managing money in today’s economy and why the days of putting money into a savings account is not really practical. I hope that what I have to share proves to be beneficial to you.