subject: Debt Relief Options - Flexible Options for Getting Out of Debt [print this page] Debt consolidation can extend payment terms, as it combines a number of loans into one big loan. However, this is a good option for debt resolution as payments and interest rates are reduced.
Debt management programs consolidate debt, typically without requiring interest. One payment is made to management program, which automatically pays out money to any creditors.
Credit counseling, compared to the options mentioned above, offers you a more proactive way of resolving debt. Aside from examining your state of finances and suggesting appropriate solutions, credit counselors can assist you in asking for lower interest rates, negotiating payment terms in debt settlements, or coming up with management programs.
Aside from filing for bankruptcy, there are a number of other options to help seniors decrease credits and its impact on their lives and purchasing power. There are several methods available for getting out of debt aside from bankruptcy - settlement, consolidation, management, and counseling. Getting out of debt, coupled with on time payments for bills and keeping a steady source of income, for starters, can enable you to repair your credit score and get better rates on mortgages, insurance policies, and other investments for your retirement.
Debt Relief Options - Flexible Options for Getting Out of Debt
