subject: Consumer Debt Relief Options - Do You Qualify For a Consumer Debt Bailout [print this page] Are you too much under debt and are you looking for measures other than bankruptcy to sort your financial issue? If the answer is yes then you are reading the right article because you would need to reevaluate your situation and see if you qualify for any debt relief option. The consumer debt relief bail out is a costly option. Everybody cannot afford it. Therefore as a rule all customers who have unpaid debts which are over $10,000 can go ahead with a relief option.
The other option to be kept in mind is that it should not be a fresh debt. By fresh debt we mean that the customer should not have paid up for the last six months or more. In case if the customer has a fresh debt of $ 10,000 the customer would not be able to get a settlement.
The next thing to be kept in mind is the fact that if the customer can go ahead and afford the money to be paid to the settlement company. The customer has to pay certain percentage of the the amount to be settled as a fee to the debt relief company. In case if the customer cannot do so he should not indulge himself in these programs. The customer needs to save up money and pay back to the creditors so that he can become debt free in a limited period of time. In case if the customer's income is not enough to save up money for the consolidation company and pay the monthly installment, he should not get into the mode of going for a debt relief option.
However there are other methodologies like going to an NGO for help or spotting some of those settlement agencies and lawyers who work for the benefit of individuals however take very less amount as fees. Such bailout programs need to be looked for patiently to avoid bankruptcy.
For the millions of Americans who are at least $10 k in unsecured debt, it would be financially prudent to consider the debt settlement option. Creditors are very worried about collecting their debts and legitimate debt settlement companies know exactly what methods to use to get your creditors to agree to eliminate a certain percentage of your unsecured debt.
Consumer Debt Relief Options - Do You Qualify For a Consumer Debt Bailout
