SOURCE: National Debt Relief Program

National Debt Relief Program

August 15, 2012 20:12 ET

Debt Consolidation, Credit Card Debt Relief Programs Being Flocked To

With the Economy Still Stuck in 2nd Gear, National Debt Relief Program Examines How Many Americans Are Benefitting From Debt Management Programs Today

CHICAGO, IL--(Marketwire - Aug 15, 2012) - Debt relief and credit card debt consolidation programs continue to be flocked to by Americans from all walks of life today as the U.S. economy remains lackluster and puts the pinch on household finances from coast to coast. While hope springs eternal that a return to better days is on the horizon, the ease at which a person with a financial hardship can apply for a debt help program today has never been simpler.

For consumers who find themselves buried in credit card debt, medical bills, payday loans and other such debt, a plethora of debt relief programs exists today that can help those in need to navigate their way out of the national debt trap.

Debt Consolidation - Though it can work in many ways, in its simplest form debt consolidation involves the taking of multiple debts and combining them into a single monthly payment. This lowers the number of bills a person has to juggle each month but also can result in a lower monthly debt payment as well. Debt consolidation can lower the interest rate paid on debt and extend the repayment terms, making the paying of bills much more affordable.

Debt Settlement - Also known as debt arbitration and debt negotiation, debt settlement is an aggressive approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. Debt settlement can be a good solution to those with $10,000 or more in unsecured debt. Debt settlement can significantly reduce a person's debt and offer a low monthly program payment.

Bankruptcy is a legal proceeding to relieve the burden of debt for individuals or companies who cannot pay their debt. In general, bankruptcy should be considered as a last resort options as it remains on a person's credit report for many years afterward.

The good news is that there are programs and services to help a person pay off credit debt in a manner that works within their budget.

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

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