SOURCE: Total Debt Relief

Totaldebtrelief.net

February 11, 2010 14:40 ET

Debt Settlement & the National Debt: Relief Explained

Consumer Advocate TotalDebtRelief.net Explains How Credit Card Debt Programs Helping to Eliminate Consumer Debt Nationwide

CHICAGO, IL--(Marketwire - February 11, 2010) - The U.S. national debt currently stands at over 12 trillion dollars and continues to rise. Yes, that's trillion with a "t." Consumer debt is also equally troubling. This debt, which includes credit card debt, mortgages and student loans, also continues to grow.

Consider:

Roughly 43% of U.S. families spend more than they earn.

The average U.S. household carries roughly $8,000 in credit card debt. Bear in mind that this figure does not include mortgages.

Personal bankruptcies have doubled in the past 10 years, soaring 32% last year alone.

All this comes on the heels of recent reports of consumers opting to pay their credit card payments first rather than mortgage payments. In total, consumers owe about $700 billion in revolving credit such as credit cards and bank cards.

Consumer advocate TotalDebtRelief.net explains how Debt Settlement can eliminate large amounts of this debt:

Debt Settlement is a unique Debt Relief program which consumers have available to them today. This program involves arbitration and negotiation in a concerted effort to have large amounts of debt forgiven, and thereby eliminated.

This approach is aggressive, and is highly suited for consumers who owe over $10,000 in credit card debt. Debt settlement is also one of the best Bankruptcy Alternatives in existence today. In almost all cases, bankruptcy is best avoided as it causes extremely harsh and long-lasting negative consequences, one of which is the fact that it stains one's credit record for up to 10 full years before it can be removed.

Debt settlement also differs considerably from debt consolidation, which is a program of consolidating monthly loan payments into one. In most cases, debt consolidation involves the taking out of a new loan, most often in the form of a home equity loan. But this can be tremendously risky.

If a consumer takes out a home equity loan as part of a debt consolidation program, and sometime in the future is unable to make their new loan payments they would be at serious risk for losing their home.

As the national debt and consumer debt continue to rise, Total Debt Relief offers consumers a free debt evaluation which can be taken advantage of at the company's website:

http://www.totaldebtrelief.net/

Contact Information

  • Contact:

    John Chase
    877-244-2950 x 7016