Philadelphia, PA -- (SBWIRE) -- 01/31/2020 -- Debt is one of the most challenging things to lose once people have it. Whether debt accumulates because of a serious illness, job loss, or a devastating car accident, settling what is owed can turn into an overwhelming situation that takes far too long to complete. Fortunately, there are programs provided by Quality Credit Repair that can help consolidate debt and turn debt repayment into an easy process with qualified debt counseling providers in Philadelphia as guides.
One debt repayment program offered by Quality Credit Repair to clients in desperate need is debt settlement. This program requires bringing in an intermediary who will speak directly with creditors to negotiate an acceptable lump sum, frequently lower than the total debt owed, and a monthly repayment plan. Debt settlement is best for those with debts over $10,000 because it immediately halts collection calls, minimizes fees, and lowers the total debt for more manageable payment. However, this process can bring down credit scores due to a "Settled" notation on the credit report, so interested parties must meet with a bankruptcy or debt counselor from Quality Credit Repair to discuss all available options.
For those with a total debt amount under $10,000, the best option is to go on a debt management plan with Quality Credit Repair. This plan is similar to a settlement plan as it also requires an intermediary to meet with creditors to determine a sustainable debt consolidation and repayment plan. However, for proper debt management, indebted individuals must speak to a debt counselor who will educate them on efficient and responsible ways to pay off their debt. Additionally, the debt consolidation process does not require lower lump sums, so creditors are eventually paid back in full. Credit history also does not report a "Settled" notation, meaning that the credit report is not affected in the same as in a debt settlement plan.
All debts are different, so it makes sense that Quality Credit Repair treats all clients as individuals with different needs. All clients in need of debt management services are encouraged to set up appointments with Quality Credit Repair advisors immediately to go from the red to the black in no time. Visit https://www.qualitycreditrepair.com/ or call a representative today.
About Quality Credit Repair
Quality Credit Repair works to help clients better their credit score and ensure they receive the most accurate credit reports. Their dedicated and highly trained consultants have over 20 years of experience resolving credit related issues. They will review a client's credit report and highlight areas that are harming the scores. The consultant will also layout changes the individual can make to better their credit. The company helps build credit by recommending the opening of secured accounts with certain, trusted lenders. Their services are available to clients anywhere in the country.
For more information, please visit http://www.qualitycreditrepair.com/.