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With the recent housing implosion, recession and unemployment at a 30 year high, many Americans are finding themselves wanting to pay their bills, but legitimately unable to do so. They are in dire need of debt relief help. As a result, many are seeking help with debt relief through a variety of methods. These methods include, consumer credit counseling, debt consolidation, debt settlement and as a last resort, either Chapter 7 or Chapter 13 bankruptcy.
The key to getting the appropriate debt relief help is understanding the ins and outs of each option to determine which one is the best solution for you. Also, you need to determine what kind of debt relief help you need. In other words, are you solely in need of credit card debt relief help or do you have other obligations that you need assistance with? Understanding what type of help for debt relief you need will help direct you to the appropriate resource.
There are many sources for free debt relief help and we definitely advise seeking the free debt relief help options before you look any further. The reason is that the entities that offer free debt relief help are generally consumer agencies or organizations with your best interest in mind since they don’t have a conflict of interest in offering advice or services for profit. So, start with the organizations that offer free debt relief help first.
The most important thing to understand when you are looking for help for debt relief is that no company can do anything for you that you cannot do yourself. You read that right. There is no magic bullet that a debt relief help company has that you don’t. Don’t believe the hype and the marketing.
If you are like most Americans, you are probably overloaded with credit cards and in dire need of credit card debt relief help. Credit cards are a cancer because they charge compound interest and will absolutely financially eat you alive if not managed properly.
When you are in need of credit card debt relief help, it is easy to be enticed by the companies that advertise that they will negotiate your debt for pennies on the dollar and save you thousands in payments as long as you pay a nice up-front fee for their services.
Just be careful! Most of these companies don’t do anything except market and take credit card payments from you (increasing your credit card debt relief help needs by adding additional debt and payments). If you are truly in need of credit card debt relief help, the first step is to develop a budget, financial plan and debt elimination plan……AND STOP BUYING THINGS YOU CAN’T PAY CASH FOR!
The magic bullet for credit card debt relief help is to contact your credit card lenders and re-negotiate your rates, payments, etc. Everything is negotiable despite what they tell you their policy is. At the end of the day, they want to continue getting interest payments for you, not have you default.
Personally and professionally, when you are in need of debt relief help, I always advise to look inward first and determine what caused the problem in the first place.
Why do you need help with debt relief?
Without understanding the catalyst for the problem and putting measures in place to prevent it, you will end up right back in the same situation at a later date. Know thyself. Do you overspend, fail to budget, have no financial plan, have no savings plan, have no investment plan, have no emergency reserve, etc.? Do you pay for things on credit cards and if so, why? Why don’t you use cash instead when carrying a balance on a financed item causes you to pay three times the amount of the item?
The first step to debt relief help is beautiful because it is actually the best source of free debt relief help you are going to get. It is you telling yourself the truth.
Most people don’t want to do this and instead seek a debt relief help solution provider and this leads to absolute disaster 99% of the time because they don’t understand what really happens and are victims of debt relief help marketers who prey on desperate people. It is important that you understand that if you do enter into any type of debt relieve, it will have a negative impact on your credit score. You will be treated as if you are in Chapter 13 by underwriters when you apply for a loan. As such, it is something that shouldn’t be entered into lightly and only as a last resort before bankruptcy.
