If there is one misunderstood debt management solution since the 2007/2008 global recession, it has to be debt negotiation and settlement. About 8 years after the economic meltdown, millions of customers are still grappling with financial constraints when debt negotiation could have resolved their problems earlier.
If you are still grappling with the aftershocks of the global recession, or any other debt, it is high time you learnt a few of the advantages that come with this debt resolution alternative. Here you go:
1. Avoiding Bankruptcy
Chapter 7 and 13 of the U.S Bankruptcy Code appear well-meaning on the surface but the effects are simply devastating. A bankruptcy entry will remain in your credit report for 10 years and there are myriad other mandatory personal applications which require you to declare this entry.
On the other hand, debt settlement arising from negotiations remains in your credit report for 7 years after which the settlement will not reflect in your records anymore.
2. Affordable Option out of Debt
Debt negotiation today is a regulated industry by the American Fair Credit Council (AFCC) among other laws. To enhance ethical standards in the industry, most companies are self-regulating and do not even charge an upfront fee.
3. Smaller Repayments
Compared to bankruptcy, or other options available, you will get reprieve from overwhelming debt. With less debt to worry about, you will have peace of mind to gradually stabilize your finances eventually getting free from debt. With an established debt negotiator such as https://www.nationaldebtreliefprograms.com/, you can reduce your repayments within 24-48 months.
4. Assured Privacy
If you owe a substantial amount to your bank, you appreciate how taxing it is to approach them. Indeed, this is one major reason for mistrust between you and a creditor. A credible debt negotiator comes in to ensure your case remains confidential between the three parties.
The stigma associated with negative publicity around debt is not easy to handle and your negotiator comes in to ensure your privacy is maintained.
In case you don’t have a reliable source of income, you can work with your debt negotiator to modify the repayment rate. Again, this offers you peace of mind but it also depends on the experience of your debt negotiator.
6. Simplicity of the Process
There are minimal procedures and documentation to file in debt negotiations compared to bankruptcy. Once you are done scrutinizing your financial situation with your negotiator, the rest is up to them to give advice to get you out of debt as soon as possible.
The best thing about this program is that you get professional help on whom to pay first among your creditors. From that point, things start falling into place gradually and within no time you will be out of debt.
Dealing with your creditors is not an easy affair, but when you have a negotiator in the mix, the parts start falling into place gradually. If you stick with a settlement program, you are assured of financial freedom eventually which is what you have been searching for, isn’t it?