Helpful Resources

Debt Settlement

Wednesday, July 14, 2010 03:00 AM

Many consumers across America are struggling to pay their bills. They may be deep in credit card debt, behind on medical bills, have other debts they simply can't pay, or even a combination of the three. If this is thecase, they may have heard about a debt settlement program on the TV or radio and wondered if it can help them.

The offer to get out of debt by paying pennies on the dollar might sound too good to be true, but in many cases it is not. Debt settlement is a safe, legal way for consumers to get out of debt quickly, particularly when working with a successful provider of services.

The benefits of debt settlement are straightforward: settlement companies can reduce debt by approximately 50 percent because professional negotiators work on behalf of consumers to negotiate with their lenders. The strategy typically reduces a consumer’s monthly payment substantially, and programs generally do not last longer than three to four years, so there is light at the end of the tunnel.

Add a comment

Credit cards and debt

Tuesday, July 06, 2010 02:40 PM

Managing credit isn't easy, but it's absolutely vital to good financial health.

It's never easy to manage credit, but regardless of a person's level of income, doing so is a required skill.

Credit affects many aspects of life, even things consumers may not consider. Beyond affecting things like loan eligibility and interest rates, it also determines whether a consumercan buy goods and services on credit.

Any consumer with a bad credit history can tell stories of how it got between them and the things they wanted. Employers have been known to turn down applicants they may have otherwise hired because of a bad credit history, and landlords certainly don't want to accept a tenant that has a history of trouble when it comes to paying monthly bills.

For consumers whose bad credit is the result of credit card debt, the problems are even more pronounced. Debt piles upon debt quickly and it can be overwhelming for anyone. The key is knowing where to start.

Add a comment

The Pros and Cons of Settling Debt Yourself

It's possible for a consumer to imitate the methods of professional debt settlement companies and many people report success in negotiating a debt settlement for themselves. Initiation of negotiations can begin by calling the customer service department of the credit card company. In general, the credit card company will only deal with a consumer when the consumer is behind on payments but capable of making a lump sum payment.

Add a comment

Introducing Debtmerica's Debt Options Calculator

Compare Your Options

There are many options when it comes to addressing your debt problems, and now you can compare them with Debtmerica's Interactive Debt Options Calculator.

Our easy to use debt options calculator, allows you to take a look at debt settlement and how it compares against other options such as credit counseling, debt consolidation or minimum payments. You're able to compare Total Cost, Monthly Payment, Months to Pay Off, Interest Paid, and Interest Rate for each option in one easy to read interface. You're also able to adjust your total debt and average interest rates to tailor our results to your situation.

Try out Debtmerica's Debt Options Calculator today and then speak with one of our professionally certified debt consultants to get started on your future free from debt!

Add a comment

How to Settle Your Debts On Your Own

A Step-By-Step Guide to Settle Debts On Your Own

If you cannot pay the minimum on your debts, it's time for you to settle your debts. Debt settlement is a way by which you can negotiate with creditors/collection agencies to reduce your debt amount by 40-60%. If you enroll in Debtmerica's Debt Resolution Program, professional debt consultants will guide you through the debt settlement process and our skilled negotiators will do their best to secure the lowest possible settlement. However, it is possible to tackle the debt settlement process on your own. This article will give you a step-by-step analysis on how to settle your debts yourself. Also, make sure to review our article "The Pros and Cons of Settling Debt Yourself".

Add a comment

Debt Elimination – Effective Money Management Techniques

Debt as a result of credit cards is the biggest financial concern for most households today. With the current state of the economy, many people who have never had financial difficulties are living from paycheck to paycheck. To become financially independent, debt elimination needs to be a priority. Most people feel overwhelmed and don’t know where to start, the first step for many is to acknowledge the debt. People who are unused to financial hardship are uncomfortable and embarrassed. They are tempted to ignore the issue and hope it goes away.

Add a comment

Debt Settlement Programs

Is Debt Settlement Right For Me?

There are so many different types of debt help available it is sometimes hard to know which one will be best for you. Debt settlement, also known as debt arbitration or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. Debt settlement is becoming the most effective solution for many consumers. It is most valuable if you have more debt than can be paid off in two to three years, or if you are experiencing financial hardship that is causing you to fall behind on monthly payments. Depending on the type of debt you have, most cases are settled for approximately fifty cents on the dollar. Creditors often choose to settle debts rather than run the risk of you filing for a declaration of bankruptcy.

Add a comment

Debt Relief – How to Find Help

What is Debt Relief?

Debt relief is defined as a partial or total forgiveness of debt. When the term is used by the government, it usually refers to the forgiveness of debt to underdeveloped countries. Recently, it has begun to refer to the millions of consumers who are overwhelmed with debt seeking financial relief from their unsecured debt. Whenever debt became too high in the past, home equity loans were used. Equity loans helped the homeowner rid themselves of high interest payments without damaging their credit score. Today, real estate values have declined to the point that the majority of homeowners have mortgages that are higher than their homes are worth.

Add a comment

Debt Management – Which Plan Is Right For You?

What Is Debt Management?

A debt management plan is a strategy used to help make repayments on unsecured debt, more affordable. This usually requires a third party to negotiate new terms for repayment, including interest rates, fees associated with the account and monthly minimum required payments. There are many types of programs designed to assist consumers with lowering their debt ratios. The guidelines and methods vary from one to another, so take the time to research which one will be best for you. Before you start, put a budget together. List all of the required minimum payments, interest rates, fees and due dates.

Add a comment

Credit Card Debt – How It Affects Quality Of Life

There are several options for consumers who are serious about reducing their credit card debts. If you have several cards, many experts recommend paying off those with the highest interest rates first. This may require strict budgeting to be able to muster the funds required to pay more than the monthly minimums. This isn’t always possible if the balance carried on the card is high. Tackling the cards with the smallest balances and removing at least one monthly payment helps the consumer to stay motivated by making obvious progress. Once a plan has been devised, the important thing is to stick with it.

Add a comment

Debt Consolidation – The Pros and Cons

How Does Debt Consolidation Work?

Debt consolidation usually involves taking out a low interest loan at a fixed rate to reduce monthly payments. This often entails rolling many loan amounts into one. An asset is used as collateral for the new consolidated loan. The most commonly used asset is a home. This means that if the consumer defaults on the loan, they agree to allow the house to be sold to collect the remainder of the funds. This method of debt management is usually secured to pay off student loans or credit card debt that carries large interest rates that may increase frequently. There are pros and cons to debt consolidation.

Add a comment

About Debtmerica

Debtmerica is a leading debt settlement company that offers assistance to individuals and families who are experiencing financial difficulties and hardship.

We specialize in negotiated debt settlement to assist clients by reducing debt balances while providing an affordable monthly payment.

Our professional and knowledgeable staff has helped thousands of consumers get back on their feet financially.