Are You Trying to Find the Best Debt Settlement Program?

 Are You Trying to Find the Best Debt Settlement Program?

In America today, debt settlement is fast taking the lead as the most widely used debt management technique. With the correct debt settlement program, you can pay off roughly 55-70% of your outstanding debt and become debt free in 6-33 months (or even longer in rare circumstances). This covers EVERY FEE! If you were exempt from having to pay off credit card debt or any other kind of unsecured debt, what would you do? With the cash flow, how would you respond?

How could you afford to avoid using a debt settlement program with advantages like these? Unfortunately, too many businesses are joining the bandwagon and damaging the industry's reputation—much like the credit counseling sector.

Beware of anyone who provides you with a "quote" for a debt settlement program without first carefully reviewing ALL of your current account statements (within 30-45 days). This includes information such as how much you can get out of debt for, how long it will take, the size of any lump sum required, etc.

All of the following elements need to be taken into account in order to correctly estimate and create a debt settlement program that you can successfully complete:

* The identities of your creditors

* The number of creditors you have

* The potential delinquency of your accounts

* Account activity, including cash advances, balance transfers, and significant purchases

* The state in which you now reside

* Your financial condition

Without considering all these aspects from your existing accounts, anyone who quotes you for a debt settlement program is blowing smoke.

There really is no way to determine with any degree of accuracy how quickly or how much you can settle your debt for without carefully reviewing all of your current statements. It's comparable to receiving a house loan quote from a loan officer without first verifying your income or credit history, including how much you qualify for and your interest rate.

You have now been alerted to the fact that this is a serious red flag.

Sadly, we have witnessed far too many debt settlement companies repeatedly offering eager debt consultants with promises they are unable to keep. Due to inaccurate initial estimations that they first believed, clients typically have to come up with significantly more money to pay off their debts. They can leave debt free if they can raise the money, but it will cost them MUCH more than they had anticipated. They frequently file for bankruptcy if they are unable to obtain the money, and the debt settlement company they contracted with keeps the costs.

Not very wise in terms of money, is it?

If all you're thinking about when you browse is fees or obtaining the lowest monthly payment, give this some thought. Ultimately, it will cost you FAR more to enroll in a "too good to be true" debt settlement program than it will to discover a reputable one that will genuinely work. Keep in mind that if you don't take into account all of the aforementioned aspects, your financial future is going to be a very harsh awakening for you.

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