Debt has become a huge problem for many Americans. In Arizona, for example, tens of thousands of households were hit hard by the mortgage crisis. Rising unemployment made economic survival even more difficult in the same area. This caused many people to go heavily into debt in order to continue paying bills. As it becomes impossible for many people to continue servicing their debt, they naturally look for ways to escape this financial burden.
Unsatisfactory Solutions to Your Debt Problems
Various agencies and companies offer multiple solutions to this dilemma. One of the most common routes out of debt is to declare bankruptcy. Most people, however, overlook the concept of Christian debt reduction. If you are a Christian living in Arizona, you may not feel comfortable with the idea of bankruptcy. Having accepted credit and loans, it may not sit well with you to go to court and tell your creditors that you will not be repaying the money. Other solutions avoid bankruptcy, but they also leave you in debt. If you eager to get out of debt completely and start over again with a clean slate, consider the novel approach known as debt settlement.
What Is Debt Settlement?
Many agencies try to help people avoid bankruptcy by negotiating directly with credit card companies, hospitals and anyone else to whom their clients may owe money. The goals of these negotiations are usually to lower interest rates, remove fees or somehow lower the payments that clients are presently making. Other companies make low-interest loans to clients in order to help them pay off their various debts and consolidate them all into one debt. These methods are helpful and honest, but they do not actually free clients from their debt burdens. Instead, they are likely to continue making onerous payments for many years to come.
At DebtConsolidationUSA.com, the debt advisers help their clients do much more than lower their payments. With a debt settlement, you can actually eliminate your debt in less than four years. Some individuals can be debt free in just two years. This is truly a form of Christian debt reduction because it allows you to discharge your debts honorably.
Get Started Now
It all begins when you contact an agent and explain your financial situation. This agent will inform you about which debts are eligible for their special service. If you agree to their conditions, you can begin debt settlement almost as soon as you hang up the phone.
Debt settlement is a very direct method of eliminating debts. Debt advisers know that credit card companies and other creditors are eager to get their money back and are not as thrilled about waiting out the long years of minimal payments. They counsel you to stop paying these debts entirely and leave all negotiations to them. Any and all communications from your creditors should be passed on to your debt consolidator.
Instead of making multiple monthly payments to numerous creditors, you will now begin making a single payment. Most of this sum will enter a deposit account where it will accumulate each month. Your debt consolidator will take part of each payment as a fee.
With this growing account, debt consolidators will negotiate with your creditors and convince them to accept a single, large payment in return for closing your account with them. This will take anywhere from two to four years. During this time period, your creditors may be very aggressive about trying to collect from you. This refusal to pay will also drastically affect your credit score. However, when all your creditors have forgiven all the debts in exchange for lump-sum payments, your credit score will revive. You will have a clean slate with which to start over again.
You may find this experience to be a very satisfying form of Christian debt reduction. While the negotiations are confrontational, they are honest business deals. Through your advisers at DebtConsolidationUSA.com, you are offering your creditors a legitimate deal. They forget about the original contract, which required you to make monthly payments at high interest rates for many years, in exchange for a big sum of money. You end up with a chance to start over.