subject: Getting Help With Debt – The Best Debt Relief Options [print this page] Getting Help With Debt The Best Debt Relief Options
When you hear the word "debt", whats the first thought that comes to mind? For most people debt is "bad" or it becomes the "enemy" and is something that should be avoided like the plague. Most people who are deeply in debt do not want anybody to know that they are in debt. They get offended when someone tells them to get help or to go to a financial seminar so they can learn to dig themselves out of their debt. They never consult and discuss their financial problem with a qualified financial planner, friend or mentor.
Having debt does not make you a bad person. The more a situation is judged as being bad, the worse it gets. It's the judgment that you have around debt, that will keep you feeling "stuck", bringing out the anxiety, the fear, and the stress. Keep in mind that your past doesn't equal your future. Look at your current financial situation as a "learning" experience, and an area that you are able to improve upon. Many people just like you have been able to eliminate their debt.
The good news is....so can you!!!!
It's the old success principle: what you focus on expands. So what are you focusing on? Getting out of debt is an inside job first! What that means is taking 100% responsibility for your debts and admitting to yourself that you have an obligation, and knowing and believing that you will fulfill that obligation, by paying your creditors as quickly as possible.
Debt settlement is a legitimate way of solving your problem without the need for bankruptcy. They know what letters to write and what to say, and how to help you get your life back on track. They create a program that allows you to repay your debt for less than the amount owed and it's faster than making minimum monthly payments. This approach reduces your debt vs. consolidation options that restructure your debt. When you find yourself thinking about using a debt settlement company, you need to be very careful. You need someone who will help you, not just some pushy sales associate who wants only to sign you up for their service.
Make sure you have the answers to some questions before you do. Then make sure you like the answers to your questions. These questions will give you a good idea what kind of debt settlement company you have found. If you think of any questions yourself, write them all down and do not hesitate to ask and don't stop asking until you get the answers you need.
Here are some great questions to ask:
1. Which of my creditors have you worked with in the past?
2. What is the total cost of the program including fees?
3. Have they been successful working with your creditors in reducing payments?
4. Are they flexible when it comes to lowering interest rates, and eliminating fees?
5. Will my creditors be paid on time each month?
6. What are the due dates of each creditor and when during the month do they get paid?
7. How do I pay you each month?
8. When and how often will I get statements of my accounts?
9. When you have a problem or question can you speak with someone on the phone and can I speak to the same counselor each time?
10. How do I restore my credit when this is all over?
With most debt settlement companies, you will need to have at least $10,000 or more of unsecured debt. Roughly 2.0 to 2.5 million Americans seek the help of a debt settlement company each year. If you do the math that's a lot of debt. So don't hesitate and let the problem get worse
