Behind on credit card bill payments and other debt payments don’t panic. You may have several good debt relief options available to you. That’s how DebtCleared.org helps. Based on your situation, we’ll make a recommendation and match you to a licensed service provider. Some of the options we may consider for you include:
Debt Consolidation which is sometimes referred to as debt management or credit counseling is a debt repayment plan where you pay back your balances in full. The important item to note is that this is a creditor approved repayment plan and not a loan. In short, your creditors are willing to provide you benefits and payment concessions such as a reduced monthly payment, waived late fees and reduced interest charges in exchange for your promise to make a timely monthly payment. The fees for debt management should never be more then $50 per month. In many instances, your new payment which will includes service fees will be less than what your paying today.
If you can not afford a reduced debt consolidation payment, then a debt settlement plan may be right for you. Debt settlement is a bankruptcy type alternative where you pay only a portion of your debt back to your creditors. It has a much lower payment then a typical debt consolidation plan and your can be debts free in as little as 3 years. The important item to note is that you are not paying your debt back in full. As such, this will obviously leave a negative mark on your credit report.
Debt consolidation loans are not a solution that we currently recommend. Our goal is to get you out of debt.