I am sure you agree with me that being in debt is not fun. But when you get so deep into debt that your only options appear to be credit counseling, debt settlement, debt consolidation or some other type of drastic measure, you may feel like you have reached the end of your rope.
If you’re having a problem with your debts you really shouldn’t be surprised. After all, the economy has been in the tank for many years and is just now starting to rebound. Unemployment reached levels which were the highest in decades. The cost of living continues to rise each year and to make matters worse, taxes are increasing. No wonder so many people have a serious problem when it comes to paying all their bills!
Sadly, we live in a consumer society that glorifies riches and does not teach us sound economics. From the time we start school it’s pounded into our psyches to get good grades, go to college, work at a career and make lots of money. The trouble is, that formula doesn’t each us everything we need to know about our finances. For instance, it doesn’t teach you how to budget your money; nor does it emphasize how to invest your money and live within your means. Without this knowledge debt problems are bound to arise.
If you’re having problems with debt, how did you get there?
- Did you spend too much for your education?
- Do you have a family to support?
- Have you overspent on things like expensive cars or vacations?
- Do you tend to put all your purchases on credit cards?
- Is your monthly mortgage payment more than you can afford?
I know I was guilty of most of those very things. I got my first credit card in college and successfully maxed out every card I have owned since. My philosophy always seemed to be: “If I can’t afford to pay cash, charge it!” I never had a good financial mentor to teach me how to responsibly handle my finances. As a result, I entered the work force, got married and started a family with no concept of how to handle my money.
By the time I reached age 30 I was already charged to the limit on my credit cards. I could barely make the minimum payments. Sadly, my lack of financial knowledge was causing my wife and children to suffer. Before it was over we had one old compact car to drive, lived in an apartment over my parent’s garage and dressed our children in hand-me-down clothing. I had never dreamed I would put my family in that situation. I became severely depressed because I felt like a complete failure.
It seemed that my circumstances left me fewer and fewer choices each day. Borrowing money from my parents was certainly not going to fix the problem. Borrowing money was what got me into this mess in the first place. Borrowing still more would have made things worse — not better.
I finally decided to put forth the necessary effort to find the answers. Other people I knew who made no more money than I did were doing fine. What was their secret?
I spent weeks online seeking a solution to my seeming insolvency. Finally I came across a company named National Debt Relief. This company performs an analysis of their clients financial condition and then outlines a plan for getting them out of debt.
I was skeptical to say the least. I seriously wondered if the service was legitimate. Since I was desperate, however, I filled out a very short form. Before I knew it I was talking with a counselor who really seemed to know his business and sincerely wanted to help my family.
That was four years ago. Now our family debt is completely under control. I simply followed the program outlined for me by National Debt Relief. It was just what was needed to eliminate our debt and get back on our feet. The counselor we worked with helped us to understand how we could reduce our family debt while teaching us how to responsibly handle our money. They were so supportive and my wife and I just can’t thank them enough.
Click Here To Get More Info on National Debt Relief
Today we live in a very nice apartment. We no longer depend on my parents, in-laws, or anyone else to provide us with a home to live in. No, we are not rich. National Debt Relief did not provide us with a get rich scheme. As a matter of fact, my wife and I both have full time jobs.
The difference is in the way we view money and handle our finances today. We are no longer careless. We are serious about paying cash and saving and investing money for the future. We aren’t interested in putting on appearances for others. We have learned to be content and satisfied with what we can afford.
National Debt Relief really worked for us. Others may or may not have the same results. I understand that every family has their own unique situation. What worked for us may not work for you. On the other hand, if you are struggling with debt the way we were, isn’t it time you tried something?
Here is a list of the major debt relief options I am aware of:
Debt Consolidation
It works just like it sounds. All of the unsecured debts that you have are consolidated so that you have just one monthly payment to make. There are two main reasons for doing this:
- Reduce the amount that has to be paid ever month;
- Reduce how many bills must be paid every month
You might also be able to get the interest rate reduced on your debt. This will help with slowing down how fast your debt load build up over time. Debt consolidation will allow you to effectively manage one monthly payment without being burdened with an excessively high interest rate. Usually debt consolidation only works to pay off credit card or other unsecured debts.
Debt Settlement
With this process, you negotiate to pay less than the total amount owed on your debt with your creditors. This process is also referred to as debt arbitration or debt negotiation. Debt settlement is a great way for individuals to eliminate some of their debt by negotiating to pay a lower amount than what they owe.
Usually you hire a debt settlement service to do the negotiating for you. They have the knowledge to work in your best interest and know how to best handle the negotiations with creditors. The debt settlement company negotiates with your creditors to come up with a pay off total that is workable for both parties. Usually you end up paying much less than the full amount that you owe. However, results can vary since every situation is different.
Debt Management Plan
One great way to eliminate or reduce your unsecured debt is to create your own customized debt management plan. You essentially create a budget that uses your current income for paying your debt off effectively. Normally a debt management plan is used when an individual is deep into debt as a result of personal loans, credit card debt and other forms of unsecured debt.
If you would like to avoid having to go the debt consolidation route and want to attempt to pay your bills off as they currently stand, you might want to think about using a debt management plan. If you are having problems paying all your monthly bills but think if you have a proper budget set up that you can pay your debt off with the income that you currently earn, then try debt management.
My Personal Suggestion
Each situation is different. With that in mind, if I could suggest one company that I think offers you the best services for getting out of debt, then I would recommend that you give National Debt Relief a try. I tend to be skeptical about these kinds of things. If you are too, see what they have to offer:
- – A complete staff of debt professionals ready to work with you on eliminating or reducing your debt load.
- – No upfront fees.
- – Having a good credit score isn’t necessary to qualify.
- – A free analysis of your personal financial and debt situation. Determine whether you should go for debt consolidation or try to settle the debts you have outstanding.
- – The potential to significantly reduce your debt over a 24 to 48 month period.
In terms of debt relief, it is in both your family’s and your best interest to exhaust every possible option. Try out National Debt Relief. They definitely helped me get back on track.