subject: Clear Debt and Be Free [print this page] Clear Debt and Be Free Clear Debt and Be Free
To clear debt, American consumers are working in different ways and programs. From credit counseling to bankruptcy and all in between, it seems to be a national goal these days. The era of free spending on numerous credit cards is over, and while many are paying the prices for these old habits, new ones are being developed.Getting rid of the old spending patterns is critical to clear debt, and whether the consumer works with a credit consultant or goes straight to a debt resolution company, it is taking a step in the right direction. For the consumer who is managing to stay current, but worries that they can't continue to, a counselor can be of assistance. For those who are beyond that point, and are living with collector calls and dun notices, the step is a bigger one.Most consumers should rule out bankruptcy. It is a financially and emotionally devastating experience, and takes years to recover from. Many don't realize that a declaration of bankruptcy stays on a credit report for ten years, and that's a long long time. Debt consolidation works to reduce debt by obtaining a secure loan, but these types of loans also take years to pay off, and the home or other property is often at stake since it is used as security against default.The quickest ways to clear debt and be free of it is through debt settlement or debt management. These programs are similar yet different in who can qualify for them, but they are worth checking out. A debt resolution company is used in both cases. Expert negotiators work with lenders to reduce the amount owed, and they also administer an insured fund that the consumer pays into monthly. By having the principle lowered, and by paying them all off in a timely manner, most people can be clear of debt in 12-36 months. These options are far more optimal than suffering with bankruptcy or endangering liens on property.The wise consumer, who wants to clear debt, will investigate all the avenues that are available. Becoming informed isn't that hard with all of the information available on the internet, and by making calls to companies who provide services. Ask questions, do research and clear the debt in a sensible, systematic way. It's an era where no one wants big debt. The economy continues to be weak and no one knows what is in store for the future.
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