Credit Card Debt Help - The Face of Debt Relief- Sans Bankruptcy

If you are seriously sick, chances are you will seek a doctor for relief. A wise doctor will not only treat your symptoms, but will get to the root of the problem, eliminating it completely.

It’s no secret that a growing number of Americans are seriously financially sick, with unforeseen circumstances and heavy loads piling up to no end. If this sounds all too familiar, you are in need of effective debt relief- a solution that is more than a cure for the day to day stress of excessive debt, but also encourages healthier spending habits.

Such relief has various faces. Debt negotiation, or debt settlement, is a fully legal and ethical practice for those who are in true need of help and are seeking an alternative to bankruptcy. Consumers with $10,000 or more of unsecured debt or are facing significant life hardships will find financial ally at Superior Debt Services. Debt negotiation programs are highly aggressive as negotiations take place with your creditors on your behalf. While Superior Debt Services negotiates a lump sum payment that will fully satisfy your debt, you make monthly deposits into an escrow account that will be used to settle the debt. One upside of choosing Superior Debt Services as your partner is that there are NO upfront fees. Debt relief programs typically take 12-36 months to complete, depending on the amount of debt owed.

Another form of debt relief is consumer credit counseling. A credit counseling company will work with your creditors to lower the amount of interest paid on a debt. One deception is that while many of these companies claim to be non-profit, in reality they are set up by the credit card companies in order to collect as much of the original debt as possible. Credit counseling programs typically take between 5-7 years to complete- if the participant is successful. Even if a consumer successfully completes one of these programs, a Third Party Assistance (TPA) mark will appear on the credit score. TPA’s can be almost as harmful as a bankruptcy to your credit score, and should be avoided whenever possible. Though credit counseling can help lower interest rates, you will pay back the full debt with interest while seriously damaging your credit score.

Just like Tylenol can offer temporary pain relief, many debt relief options will also offer a temporary solution unless actual spending habits change. Consumers NEED to understand the reasons they purchase what they do- what needs are not being met for them? Overspending may point to a deeper, underlying issue, such as depression, anxiety or a perceived lack of control in life. Further, maintaining a realistic budget and living within your means can provide the best financial peace available; contentment with what you have. Now that is true relief!

“The cost of discipline now is less than the price of regret later.”