National Debt Relief is among the largest debt relief firms based out of Broadway, New York. There are many reasons why National Debt Relief has become so popular for debt relief. They’ve been around the block once before and their track record for customers is stupendous, for starters.
Let’s take a look at how a debt counselor can actually get you out of debt by negotiating with your creditors and lowering your total debt amount. If you file for bankruptcy the first thing that happens is a knock on your door from a debt settlement firm who promises to reduce your debt by fifty or sixty percent and give you an easy way to start over. It is pretty hard to say no to that. But what usually happens is that the bankruptcy lawyer you hired to help you with your bankruptcy ends up pushing you into a debt settlement program instead.
The reason they push for a debt relief solution that lowers your total debt is simple; they earn a nice commission for every loan they negotiate for you. In addition to getting a nice kick out of it they also keep you from reporting your debt relief application as a debt to your credit history, which hurts you because it shows up negatively. So, when your credit counselor asks you to stop making payments to your credit cards the debt relief solution they recommended actually gives you a loan at a much lower interest rate to pay off your credit cards, without you paying a cent more in interest. The debt relief solution earns money from you for doing absolutely nothing.
Bankruptcy and debt relief can go hand in hand if you do it the right way; by hiring an experienced Albuquerque debt relief company to negotiate with your creditors. Debt consolidation works differently than bankruptcy, in fact it can even be used to clear all your debts if you use the right debt consolidation program. Bankruptcy can take years to recover from and most people are not willing to wait that long to start over. With debt relief, on the other hand, you will have your debts cleared in about five years; not including any court fees you would owe the credit card companies after bankruptcy.
If you feel that you don’t need debt relief after bankruptcy then think again. There are many programs available that will allow you to manage your debt better and still keep your credit rating in good shape. You will need to do some research on these consolidation options and find the one that best fits your situation and your budget. Some of these options require a loan to start and you must be able to make the monthly payments on time or you could end up in more debt and further financial difficulty. So weigh your situation and do the research.
One thing is for sure, debt relief can get you back on track toward financial freedom. However, you should make sure that you work with a reputable debt relief company that will help you manage your debts so that your credit card debt is reduced and you make one low monthly payment. Then you can move forward with enjoying life debt free.