How do you settle debt for less than you owe? It’s easier than you think. You don’t have to file bankruptcy, and you don’t have to hire an expensive debt relief company. In fact, all you need is a little knowledge of the debt relief process and a little determination. Once you know the basics, you can negotiate your debt yourself.
There are many debt settlement companies in Arizona. However, not all of these companies are the same. When selecting a debt settlement company, make sure that you hire a reputable and established business. You will also want to check their background carefully to make sure they have no complaints with the Better Business Bureau or other consumer protection organizations. Hiring a debt negotiation company with a good track record can be the difference between debt resolution and bankruptcy.
To settle debt for less than you owe, contact a debt settlement company. They will contact your creditors and negotiate a debt reduction. The debt negotiation company will then distribute your payments to your creditors. A debt negotiation company may not work with you to resolve your credit issues. To locate a reputable debt settlement company in Arizona, visit the Arizona State Consumer Credit Counseling Agencies website.
Another option to pay off your debt is to file bankruptcy. Although this is not necessarily the best debt relief choice, it does eliminate debt for good. Bankruptcy will affect your credit for at least 10 years. However, you may also obtain some tax breaks by filing bankruptcy. If your debt is more than ten thousand dollars, you should consult with a certified public accountant to determine if filing for bankruptcy will benefit you.
You can also seek debt relief by enrolling in debt relief programs such as debt consolidation and debt settlement. Debt consolidation provides you with one low monthly payment for your debt. Debt settlement does exactly that – but with an extra payment to your creditor.
Regardless of which debt relief option you choose, enrolling in debt settlement is a step in the right direction. Contact a Gilbert debt relief company to learn more about debt settlement and how it can help you. When looking for a debt relief company, be sure to do your research so you don’t get ripped off. Reputable companies should be willing to provide a free initial consultation. Get the information you need to make an informed decision today.