Los Angeles, CA -- (SBWIRE) -- 06/15/2015 -- Debt consolidation and credit card debt relief programs are today helping many Americans who are dealing with a financial hardship and struggling to pay bills. While many people face a financial crisis at some point in their lives, the current economic conditions have only exacerbated the situation. Whether the crisis is caused by an unforeseen expense, job loss or illness, by taking action swiftly the situation can be overcome.
If a reader or someone they know is in financial stress caused by personal debt, consider these options: self-help using realistic budgeting and other techniques; professional debt relief services, like credit counseling or debt settlement, debt consolidation, and in extreme cases -- bankruptcy. Yet how does a person determine which program will work best for them? It depends on their level of debt, level of discipline, and their plans for the future.
Debt Relief Services
For those who are struggling with significant credit card debt, i.e. $10,000 or more, working with a debt relief provider that offers credit counseling or debt settlement services is advisable. Depending on the type of service, one might get advice on how to deal with their mounting bills or create a personalized plan for repaying their creditors. In regards to debt settlement, these service providers can negotiate with a person's creditors to settle outstanding for a reduced amount with the balance forgiven. The savings can be significant.
Credit Counseling
Reputable credit counseling organizations can advise a person on managing their money and dealing with debt, help them develop a monthly household budget, and offer educational materials and workshops. These counselors are typically certified and trained in consumer credit, money and debt management, and budgeting. Credit counselors discuss a person's entire financial situation with them and help develop a personalized plan to solve their money problems and get out of debt.
Debt Management Plans
If a person's fiscal problems stem from too much personal debt, a credit counseling agency may recommend that they enroll in a debt management plan (DMP). In a DMP, a person deposits money each month with the credit counseling organization. It uses their deposits to pay the person's unsecured debts, such as credit card bills, medical bills and hospital bills, according to a payment schedule the counselor develops with them and their creditors.
The good news is that debt relief is possible today and can be just a click away.
National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website: http://www.nationaldebtreliefprogram.org
Contact:
Jonathan Chase
310-994-3124
info@nationaldebtreliefprogram.org