There are several methods available to the consumer to consider when trying to get out of debt.  These methods are:

·         Try and manage their current debt themselves – in other words tighten their belt and spending habits.

·         Debt consolidation loan – this would combine all outstanding unsecured debt into a single payment loan. The problem is can the consumer qualify for a new loan with no job or financial hardship issue.

·         Refinance or Home Equity loan – This might work, if the consumer has enough equity in their home, however the repayment may be an issue.

·         Credit counseling service – This program acts like a debt consolidation loan. The consumer pays a third party company who in turns pays a small or set percent each month to the lenders until all the balances are pay off. In addition, there is credit counseling for the debtor and this will also have an affect on your credit score.

·         Bankruptcy – This is the most serious and the final step that a consumer should consider.  The consumer needs to discuss with an attorney all facets of bankruptcy since it will cover all debts, both secured and unsecured.

·         Debt settlement – This is a program by which a third party negotiates with the lender in order to reduce the outstanding balances on unsecured credit cards.

“Never let life’s hardships disturb you..no one can avoid problems, not even saints or sages”  Nichiren Dasihonen

The above quote rings true for the consumer who is struggling with their unsecured credit card debt. The consumer not longer can avoid the problem, the unwanted telephone collection calls and letters from the credit card companies or collection companies. The time is now for the consumer to take action.

The consumer needs to know that they are not alone when facing issues in regard to mounting unsecured credit card debt. Once the consumer decides to take that first step they will start to feel better about their situation. 

One of the fastest ways to find debt relief is using the debt settlement option program.  When compared against other options, bankruptcy, debt counseling or do nothing approach.

As with any debt settlement program there are drawbacks. These negative issues might include, the forgiven balance is considered taxable income by the IRS and the settlement will be noted on your credit report.

A good debt settlement plan combines all the outstanding unsecured credit card debt and establishes a budget for monthly savings which is in the best interest of the consumer.  This plan establishes the timeline for the exact amount of the monthly savings which might be less than the combined monthly minimum payments on all debt. Then estimates how long it will take before negotiations begin with the credit card companies.  The key to how long is based upon monthly savings and outstanding balances. This process can take been 12 to 48 months.  The consumer needs to remember that if their financial situation changes, they can opted out early and payoff their debt themselves.

So, take that first step today and call 866.963.9988