SOURCE: Total Debt Relief

December 06, 2010 16:30 ET

Lower Debt With the Help of Professional Debt Settlement Services

Some Consumers Are Unable to Pay Their Credit Card Debt; Total Debt Relief Explains How They Have Been Helping Consumers Lower Debt

LOS ANGELES, CA--(Marketwire - December 6, 2010) -  Americans fighting with massive credit card debt should understand that solutions are available to them. There is a lot of information available concerning debt relief strategies and the best solutions for getting out of debt. The ultimate question is when should a consumer go to the professionals for debt settlement services?

There is no simple answer to this question. Everyone has a unique situation. There are a few parts that go into determining whether debts can be lowered through strict money management and budgeting as opposed to paying a professional debt elimination agent.

Income Level: If most of the consumer's income is spent on paying off credit card debt, it might be time to search for the help of an expert.

Job Loss: If an individual recently lost a job or took a pay decrease and is not able to make the minimum payments this might be a sign to seek the advice of experts.

Debt Collection: If different debt collectors are annoying the consumer for various debts owed depending on the frequency, professional debt relief might be needed.

What Services are Available:

Debt Consolidation -- This debt settlement program might work best for individuals with a lot of various debts owed. Essentially one big loan is taken out to cover the multiple debts owed. This loan makes the payment schedule easier and in some situations the interest rates can be negotiated to benefit the consumer.

Bankruptcy -- The most popular type of debt elimination, but perhaps the one with the most consequences. Bankruptcy is the process of declaring a person insolvent and not able to pay back creditors. A court must accept such a request and a lawyer is recommended for the process.

Debt Settlement -- also known as debt negotiation is the process of debt elimination through negotiation. Debt settlement specialists work with various creditors in attempts to reduce overall debts owed. A large amount of the debt can be forgiven in a relatively short time period. The major drawback being a reduced credit rating.

Total Debt Relief offers consumers a free debt evaluation to find out which debt relief service might work for them at their company website:

Contact Information

  • Contact:
    Total Debt Relief