subject: Consumer Debt Settlement - The Best Debt Relief Program to Use? [print this page] Consumer Debt Settlement - The Best Debt Relief Program to Use?
You may already know what consumer debt settlement is.
It is technically the term that defines the act of negotiating and agreeing on a reduced version of your balance. If you know what this option is, you may be thinking that it is the best relief program available.
Aurora Lillo Editor of the "Best Debt Relief Programs" website -- http://www.BestDebtReliefPrograms.net -- pointed out;
"...The actual truth is simple. This option may very well be the best relief program for you to use. However, its total effectiveness depends entirely on your situation. For example, this relief program would not be best for someone who is not facing bankruptcy..."
Many things about this type of program make it the best program for many people. Consequently, a few things about this financial decision make it slightly worse. This is normally the case with any financial decision. The only way for you to tell if it is best for you is to weigh your options.
It was mentioned earlier that this decision might not be best for you if you are not facing bankruptcy. This goes for people who are able to make payments to their creditors as well. This is because debt settlement will hurt your credit. In order to eligible for this financial decision, you have to miss a few payments towards your creditors. This will hurt your credit score since you are not paying your bills on time. In addition, you will pay taxes on the money that you save.
"...If you are not worried about taxes or your credit score, then this financial decision is the best option for you. You can do this by yourself, or you can hire a professional company to do negotiate everything for you. You will know that the deal has gone solid when your creditors will take off a percentage of your total balance. In some case, you can take off as much as seventy percent of the money that you owe. Because of this, many people believe that this type of decision is the best financial relief program to use. When your creditors agree to take off a percentage, it is up to you to pay off the remaining balance. You will no longer have to make monthly payments. This is mainly because you will have to pay off the remaining balance in one large sum. By choosing this financial relief program, you will get out of debt faster than almost any other decision. This financial decision will also help you avoid bankruptcy..." added A. Lillo.
Further Information By Visiting; http://www.BestDebtReliefPrograms.net
