Welcome to the Free Debt Advice website!
Welcome to the Free Debt Advice website. We are here to advise you on all aspects of debt management. There are really only four main debt relief options available to debtors, and their usefulness depends entirely on the individual situation.
Credit counseling was a service that was originally provided to debtors by non–profit organizations, which worked as a liaison between credit card companies and debtors, negotiating monthly payment plans and lower interest rates for consumers who had fallen behind on payments. This is a good option for debtors who can live without drastic cuts in monthly payments.
Debt Settlement is a process where somebody negotiates on the debtor’s behalf with creditors to lower the overall in exchange for an agreement of lower, but guaranteed and regular payments. Debt settlement is perfect for debtors that require drastic cuts to their monthly payments although, once the cuts are negotiated, they absolutely have to meet the reduced payments.
Debt consolidation is where a debtor can merge several lines of consumer debt, typically credit cards, in to one debt, and with a decreased overall interest rate, plus a single monthly payment, making their debt management a much faster and easier process. This is good for a debtor looking to save on interest but otherwise able to handle their monthly debt payment obligations.
Bankruptcy is obviously the final and most extreme option, but has severe repercussions on future prospects, and so should generally be avoided if possible. If you are interested in Free Debt Advice, feel free to contact us.