Los Angeles, CA -- (SBWIRE) -- 06/04/2015 -- Debt consolidation and credit card debt relief programs have become increasingly popular in America today as many individuals and families seek out ways and means to get themselves on more stable financial footing. The debt relief landscape is wide and varied as are the many types of personal debt in existence today.
Those struggling under the weight of personal debt such as that from credit cards, personal loans and medical bills can take heart – they are not alone. Millions struggle with personal debt today. It has become the new norm. The good news is that with a multitude of options available for dealing with debt today there is a debt relief solution that can resolve their issue. These programs include the following:
Debt Consolidation – This program is recommended for those who are unable to service their current debt load and wish to replace multiple monthly loan payments with a single and more affordable monthly payment. This debt relief option can help a person save money and even pay a lower interest rate. Another debt consolidation option is a cash-out refinance loan, using equity in a person's home to pay off debt.
Debt Settlement – This is a negotiated process between a debt relief provider or law firm acting on behalf of the person in debt. The goal is an agreement to pay off only a portion of the original debt amount and the remaining debt forgiven by the creditor. The savings can be significant. Also known as debt negotiation or debt arbitration, it is often the cheapest way to resolve debt while avoiding bankruptcy.
Credit Counseling – This is a more moderate yet effective form of debt relief for the person that is having difficulty paying their bills each month. Credit counseling can help a person setup a negotiated and affordable payment plan with potentially lower interest rates. The program is suitable for the person that wishes to not fall behind on their monthly payments but needs assistance to do so.
The good news is that debt relief can be just a click away.
About National Debt Relief Program
National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website: http://www.nationaldebtreliefprogram.org/