SOURCE: Debt Help USA

Debt Help USA

January 30, 2012 08:01 ET

Debt Help USA: Debt Relief Options That Should Help Consumers in 2012

There Are Many Debt Relief Options That Consumers Must Know About if They Are Going to Be Debt Free in 2012

DALLAS, TX--(Marketwire - Jan 30, 2012) - Recent news is reporting lower unemployment and a slow growth in the economy, but forecasters warn of a steady rise to consumer debt. The average household in America is still burdened with just over $15,000 in overall credit card debt. While credit card debt is still the main culprit of debt advice seekers, student loans are on the rise, reporting the second most frequent form of debt. Regardless of what kind of debt is strapping consumers, many feel they are without options in this current debt-ridden climate.

Make Sure You Have A Plan

It was Harry Truman who spoke about a plan, "make no small plans, instead, make 1 big plan and spend the rest of your life carrying it out." You are going to get out of debt, but you most certainly need a plan. If you are going to take on your debts, you must be honest with yourself and know your weaknesses. If you are eating out too much, acknowledge it and cut back. If shopping spending sprees are impulsive and out of control, either cut yourself off cold turkey or set a monthly budget as a precaution and do not exceed it. Simple lifestyle acknowledgements will allow you to tackle your debts more effectively.

Look Into Debt Relief Options

Debt negotiation is an alternative to bankruptcy that can help eliminate one's debts. In short, an agent from one of these companies will intercede with the various creditors of the debtor, making the payment schedule easier for the consumer. Laws and regulations surrounding debt negotiation have recently changed making it more reliable than before.

Debt consolidation is another option you may want to consider. By consolidating your debt, make one low monthly payment instead of several. Unlike credit cards, the interest rate for debt consolidation is tax deductible and can even improve your credit rating because you are essentially paying off higher interest debt faster.

Credit Counseling and Debt Management are further options for those in debt and focus on the interest rate. By working with a non-profit consumer credit counselor, creditors often lower the overall interest rate, waive late fees, and attempt to bring your debts current.

For those interested in learning more about debt relief options, Debt Help USA offers a free debt evaluation at their company website: www.debthelp-usa.com

Contact Information

  • Max Weldon
    512-215-2542