SOURCE: National Debt Relief Program

National Debt Relief Program

August 07, 2012 12:06 ET

Credit Card Debt Consolidation, Debt Relief Programs Widely Available

With Many in the U.S. Still Struggling With Personal Debt, National Debt Relief Program Discusses Debt Help Programs

SAN FRANCISCO, CA--(Marketwire - Aug 7, 2012) - Debt relief and credit card debt consolidation programs continue to be flocked to today as consumers seek out help from debt counseling services to give them an edge in the current tough economic climate.

These debt management programs operate in a number of different ways in order to address the vast majority of debt situations which anyone may find themselves in. These include debt restructuring, credit counseling and debt settlement to name a few. How these programs work is discussed below. Yet why are so many Americans seeking help to pay off credit debt?

Reason number 1 -- it's the economy. In the United States, the 163,000 jobs created last month was welcome news, but the unemployment rate increased from 8.2 to 8.3 percent even as the number of people in the labor force fell. Already the US is experiencing the worst "recovery" of any period since World War II and, according to the IMF, "the outlook remains difficult."

Debt Relief Programs

A great many programs and services exist today to help consumers navigate their way out of personal debt such as that from credit card debt and medical bills. These include the following:

Debt Consolidation - One of the oldest debt help programs, debt consolidation very often entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.

Debt Settlement - One of the newer debt help programs, and also known as debt arbitration or debt negotiation, debt settlement is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.

Bankruptcy - This is the process where a person legally declares himself or his business unable to pay outstanding debts. Depending upon the type filed, one may meet with a judge to determine a payment schedule.

Debt help is available today and can begin with a click of the mouse.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

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