Debt relief refers to measures to reduce or refinance debt in order to make it easier for the borrower to repay it. Options for debt relief may entail forgiving a portion of the debt’s principal, lowering the interest rate, or consolidating several debts into a single lower-interest loan.

When should you consider debt relief?

You may consider debt relief if:

1. You’re behind on credit card bills or other loan payments.
2. You’re not behind on bills yet, but you’re struggling to afford your payments.
3. You’ve tried to manage your debt on your own, but you can’t seem to make any progress.
4. You’ve contemplated filing bankruptcy.

How does a debt relief company usually work?

Debt relief companies sometimes arrange for you to make a single monthly payment to them, from which they make payments to creditors on your behalf (and extract fees in the process). Settlement companies sometimes call this process “debt consolidation,” but that distorts the strict meaning—and benefit—of consolidating debts.

How does the Freedom Debt Relief Program work?

There are 4 phases in the Freedom Debt Relief program: Build Each month, you make a deposit into an FDIC-insured savings account that you control. Negotiate After enough funds build up in your account, we negotiate with your creditors to settle your debts for significantly less than you owe.

What are the options for debt relief in bankruptcy?

Options for debt relief may entail forgiving a portion of the debt’s principal, lowering the interest rate, or consolidating several debts into a single lower-interest loan. Consumers, firms, and even nations may all seek debt relief in times of need in order to avoid bankruptcy.

Who are certified debt specialists for national debt relief?

We specialize in helping consumers who’ve become unable to continue making their monthly payments and are feeling overwhelmed by debt. In our program, a certified debt specialist will review your credit history and make sure you’re eligible for our program.