subject: Debt-Reliefs: What A Program Can Do For You [print this page] Debt-Reliefs: What A Program Can Do For You
Many people, when seeking debt relief, will try to do it themselves by calling the credit card company directly to try and work out a deal. The problem is that, if you call the credit card company, because they issued you the initial deals in the first place, they are likely to give you unreasonable deals to work out your problem, and they will not want to spend the time with you.
The next logical step for a lot of people is to try to apply for a loan so they can consolidate their debt onto one card, hoping to get a lower interest rate so they can more easily make their payments. Usually they are denied because they are considered high risk with being able to make payments with such high debt.
Many people then try to go through Consumer Credit Counseling, but they are surprised to find out that although it is a debt relief plan, it typically does not lower their monthly payments to make it more affordable, which is what they need in the first place! Lots of times they will then give up and possibly start looking at bankruptcy as the answer, only to realize it will ruin their credit for seven years, not to mention it will be on their record forever.
Debt relief programs, however, are trained with experience to get you the lower payments that you need. They know how to negotiate with the credit card company, and they know of all the different things they can do to get your monthly payments lowered. Even if you were somehow able to lower your monthly payments down by a little, chances are much greater that debt relief programs will be able to lower it by a lot more, thus helping you to get out of debt much sooner.
