National Debt Relief is a debt settlement firm, which negotiates with lenders on behalf of customers to reduce their unsecured debt by up to 70% after their fees are calculated. The company states that customers who complete its debt settlement programme reduce their unsecured debt by as much as 30%. However, customers have to take extreme caution before signing up with a debt settlement firm.
A lot of debt settlement companies have come up in recent years and many people are seeking advice from them. These programs often have hidden charges which cause serious doubts among consumers. Many debt settlement companies demand high upfront fees in advance and fail to achieve any meaningful reductions in debt for their customers. The best option for getting a good deal on your unsecured debt is to pay it off with a one-time payment to a debt settlement firm which helps you reach your goal.
Another debt relief company credit counseling is another alternative for consumers, which is less popular and more costly than debt settlement. Credit counseling helps you organize your finances and track your debt repayment patterns. You can use credit counseling to save on interest payments on your loans. Through this program, you will learn ways to avoid incurring debts in the future.
A third debt relief program, debt consolidation, is not as popular as debt settlement. This is because debt consolidation requires one to open a separate credit card account and pay monthly installments to pay off all the previous loans. This means you will have to get rid of your credit cards and pay the loan amount on a monthly basis. This may be inconvenient for many people and also expensive.
Credit counseling is a better option because it does not require you to close your credit card accounts. You can access credit counseling services through a non-profit agency which helps you reduce your monthly expenditures and pay off your debt in easy installments. The major advantage of using credit counseling services is that they provide the accountability you need to get back on track with your debt relief services. If you have multiple debts, this is the best alternative.
In conclusion, debt relief solutions can be debt consolidation, credit counseling, or debt settlement. The choice is yours. Make an informed decision and start living your debt free life. However, make sure you get enough information regarding these debt relief options before taking any decision.