American Debt Relief – Why Debt Settlement Is Growing So Quickly

Debt settlement is quickly becoming the most popular debt management strategy in America today

. Through the right Debt Settlement Program, you can become debt free in 6-33 months (a little longer in rare cases), for about 55-70% of what you owe. This includes ALL FEES! What could you do if you no longer had to make payments of credit cards or any other unsecured debt? What would you do with the cash flow?

With benefits like these, how could you afford NOT to take advantage of a debt settlement program? Well, unfortunately, much like the credit counseling industry, too many companies are jumping on the bandwagon and giving the industry a bad name.

BEWARE of anyone that gives you a "quote" for a debt settlement program (how much you can get out of debt for, how long it will take, the size of any lump sum required, etc) ...WITHOUT FIRST looking closely at ALL of your current account statements (within 30-45 days).

In order to accurately estimate and design a debt settlement program that you can complete successfully ALL of the following factors must be considered:

Who your creditors are

How many creditors you have

How delinquent your accounts may be

Account activity such as balance transfers, cash advances, and large purchase

Your state of residence

Your financial situation

Anyone who quotes you a debt settlement program WITHOUT looking at all these factors from your current statements IS BLOWING SMOKE.

Without closely examining all of your current statements, there's really no way to accurately estimate how quickly or how much you can settle your debt for. It's much like a loan officer giving a quote on a home loan (how much you qualify for, what your interest rate will be, etc) without first checking your credit report or income information.

This is a major red flag, and you've now been warned.

What we have sadly seen, time and time again, from too many debt settlement companies out there, are eager debt consultants making promises they simply cannot and do not fulfill. Clients usually must come up with much more money to settle their debts due to poor initial estimates that they initially bought into. If they can come up with the cash, they walk away debt free, but at a cost MUCH greater than they expected. If they cannot get the cash, they often go bankrupt, while the debt settlement company they signed up with KEEPS the fees.

Not very financial smart, is it?

Think about this if you're shopping and only concerned about fees or getting the lowest monthly payment. In the end, enrolling into a debt settlement program that is """"too good to be true"""" will cost you FAR more than finding a good one that will actually work. Remember, without considering all the factors above, you're setting yourself up for a very rude awakening in your financial future.

American Debt Relief Why Debt Settlement Is Growing So Quickly

By: Channing Blaine

POST COMMENT

Help Getting Out Of Debt – Legitimate Solutions For Personal Debt Relief Debt Relief Advice – How To Find Legitimate Help With Your Out Of Control Debts How To Select A Debt Relief Plan Debt Relief Industry Reforms - Why States Now Have More Power over Debt Settlement Debt Relief Solutions - Making The Best Of Finding A Debt Relief Option Debt Relief Options – What Is The A Best Option For You? Consumer Debt Protection - The FTC Puts Consumers First and Gets Americans a Better Price On Debt Relief Debt Relief Options - The Best Ways Out Of A Debt Crisis Free Debt Relief Help - Safest Solution To Your Debts Woes Debt Relief Help - Make Debt Elimination Easier and Faster Debt Relief Options – The Best Ways To Get Out Of Your Debt Problem Debt Relief Reform - How Debtors Get Help From the Debt Settlement Consumer Protection Act Getting Out Of Debt – How To Find Instant Unsecured Debt Relief