Having debt that is difficult or impossible for you to repay adds unwanted stress to your life. Luckily, there are options for reducing or possibly eliminating your debt through debt relief programs. Whether you're buried in a mountain of debt or are simply looking to lower your interest rates and make your payments more manageable, a debt relief program may be able to help.
Learn more about how debt relief works and how it can potentially help you reduce or eliminate your debt so you can leave the stress of debt behind.
Although there are different types of debt relief options available, all of them focus on the goal of reducing or eliminating debt. Typically, a relief program allows you to work with a trusted debt relief company to find a solution that works best for your situation. Many debt relief companies take on certain parts of the management of your debt, such as calling creditors to negotiate interest rates or fees.
While your individual situation will help determine what method of debt relief is best for you, many programs feature a reduction in the amount you owe, your interest rate, or your monthly payment. Once you have chosen a program, your debt relief company usually starts contacting creditors and negotiating on your behalf.
Generally, there are four main options for relieving debt:
Each debt relief program offers different benefits and possible disadvantages, so it's important to speak with a trustworthy Debt Counselor to find out which program is best for your situation. All of the debt relief programs through Accredited Debt Relief give you access to the knowledge of a team with years of experience in the debt relief and financial industry.
Debt consolidation is a debt relief option that takes multiple debt obligations and combines them into one debt. Debt consolidation can be a good choice for people who have multiple debts with multiple creditors and find it difficult to manage different payment due dates and varying payment amounts.
Debt settlement companies work directly with creditors to reach an agreement on the repayment of your debts. The company will negotiate to get a legal settlement agreement. The legal settlement is often lower than the amount that you originally owed.
With debt settlement, you'll have a settlement account opened in your name into which you'll deposit a monthly payment. You can use the funds in the account to pay your creditor the amount specified in the settlement. For many people with overwhelming debt obligations, debt settlement is the preferred way to get debt relief.
Many people with lower outstanding debts find that they are capable of paying down debts with the help of credit counseling and debt management. A credit counselor will work with you to help you improve your individual financial situation. A credit counseling session may include budgeting help, reviewing credit reports and referrals to financial tools and resources.
Considered the last resort of debt relief options, bankruptcy is usually reserved for cases where you are absolutely unable to pay back the money you've borrowed. Bankruptcy involves filing for bankruptcy with the court system. Although there are different types of bankruptcy, one common type involves repaying your debts by allowing your creditors to liquidate many of your assets. Bankruptcy can be an effective debt relief option, but it comes with heavy drawbacks to your financial stability, credit score, and more.
Many people are wary of debt relief services, due to a fear that they are ineffective. Worse some companies run fake debt relief companies as a scam to take advantage of people. To get the most out of your debt relief plan, and keep yourself safe, you should work with a trustworthy debt relief company. A reputable company allows you to openly ask questions about your options for debt relief and will be realistic with you regarding which programs are most likely to work for you.
Many people who participate in debt relief programs find that their debt load is reduced or eliminated by the completion of the program. Through debt relief, you may see significant changes to your debt situation, including the possibility of:
Your debt situation is different from anyone else's, so it's important that you talk with a Certified Debt Specialist about your options. They'll help give you the honest answers you need to make smart choices about your debt.
To qualify for a debt relief program, you’ll likely need to have a certain amount of unsecured debts. This means secured debt like a car loan or a mortgage won’t count. Unsecured debts include credit card debt, medical bills, or loans such as a personal loan or private student loan.
Certain debt programs may have additional requirements for your debt to qualify. The best way to find out if you’re a good candidate for debt relief is to speak to a Certified Debt Specialist. They’ll listen to your financial situation and help you learn more about your potential debt relief options.
Depending on the debt relief option you choose, there may be significant effect on your credit score. However, as you pay down your debt or get out of debt completely, it's likely that your credit score may increase.
At Accredited Debt Relief, we help people in many states get started on a debt relief plan. With our help, you may be able to ultimately pay off your debts completely and reduce the amount of stress caused by debt. The easiest way to find out if you qualify for onw of our debt relief programs is to set up a free consultation.
We're committed to answering your questions about debt relief and repayment in an honest, open way so you can feel confident you're making the best choice possible for your situation. We understand the stress and fear caused by debt. We'll listen to your situation to give you a customized debt relief program to manage and reduce your debt.
With A+ accreditation by the BBB and numerous awards for being a top debt relief company, Accredited Debt Relief will help you find the perfect debt solution. In addition to industry awards, our commitment to our clients can be seen in the many 5-star reviews from people who have successfully completed debt relief services with us.
Accredited Debt Relief, Inc is licensed for debt relief in the following states
AK, AL, AR, AZ, CA, FL, IA, ID, IN, MA, MD, MI, MO, MS, MT, NC, NE, NM, NV, NY, OK, PA, SD, TN, TX, UT, VA, WI, WY, and Washington, D.C.
© 2020 Accredited Debt Relief. Please note that all calls may be recorded or monitored for quality assurance and training purposes.
* Accredited Debt Relief LLC is an affiliate of Beyond Finance, Inc. Beyond Finance, Inc., is a servicing provider for most debt relief services offered by Accredited Debt Relief. Beyond Finance’s clients who make all monthly program payments pay approximately 68%-75% of enrolled debt (including fees) upon successful program completion. Programs range from 12-48 months. On average, Clients receive their first settlement within 4-6 months of enrollment. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Program is not available in all states; fees may vary by state. The use of debt relief services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Read and understand all program materials prior to enrolling. Additional information for Maryland residents, click here.
Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies.
Accredited Debt Relief LLC and its affiliates are not lenders, creditors, or debt collectors. This is not a loan. Referral arrangements with our partners make it possible for you to apply for a loan. Annual Percentage Rates provided by partners range from 5.99% to 35.99%.
Testimonials reflect the individuals’ opinion and may not be illustrative of all individual experiences with Accredited Debt Relief LLC or its affiliates.