You understand how terrible and lonely debt can be if you bear it. But you’re not alone, it’s true. Consumer debt has increased again, but Americans experienced a temporary respite from debt during the COVID-19 epidemic.
As of the fourth quarter of 2023, Americans owned a record $1.129 trillion in credit card debt, according to Federal Reserve data that was published by Motley Fool.
You’re not alone at all, in actuality. Making a strategy to pay off your debt and doing it properly is crucial. Many of the available choices don’t result in the debt being eliminated.
Additionally, there is one tactic provided by organizations such as National Debt Relief that is frequently completely disregarded.
A Neglected Strategy for Paying Off Your Debt for Much Less Than You Owe
The usage of debt consolidation and settlement services, like those provided by National Debt Relief, is one of the most underutilized methods of debt relief.
You might pay off your debt for a lot less than what you owe by using this strategy.
Here’s how it functions: First, during a free, no-obligation consultation, briefly describe your circumstances to a Certified Debt Specialist at National Debt Relief. They will then create a personalized plan that fits your needs and your budget if you are qualified for and interested in their program.
By directly negotiating a lower sum with your lenders on your behalf, National Debt Relief’s professionals may help you pay less than you owe and pay off your debt much more quickly.
Consolidation involves taking out a new loan, preferably with a lower interest rate, to pay off all of your existing debt. You will ultimately save money on interest payments by doing this and be able to pay off your balance more quickly.
Image – Linkedin
You may compare and contrast all of your alternatives with the assistance of National Debt Relief’s professionals.
What is the purpose of National Debt Relief?
With its headquarters located in New York, National Debt Relief seeks to inspire, assist, and mentor its customers toward financial wellness to “redefine the debt-settlement journey.”
Since its establishment in 2009, National Debt Relief has assisted over 550,000 individuals in paying off over $11.5 billion in debt. The business has an A+ rating and is recognized by the Better Business Bureau.
Forbes Advisor also ranked it the best debt-settlement firm for 2023 and 2024.
SEE MORE –
Soon! There Are an Unexpected Bankruptcy Filing Hits Enormous Restaurant Chain
Natalia Brown, Chief Compliance and Consumer Affairs Officer at National Debt Relief, stated in a January press release that the company is “not only dedicated to providing our clients with personalized guidance and partnership to get them out of debt quickly and affordably— we’re also focused on normalizing the conversation around debt.”
To “get over the hump of their debt situation and back to living the life they envision for themselves,” she continued, it is crucial that individuals “feel more comfortable speaking about their situations and seeking support.”
What Kinds of Debts Are Helped By National Debt Relief?
The majority of unsecured debt is covered by National Debt Relief, which also regularly bargains with banks and large credit card companies to lower debt burdens. They have established ties with over 20,000 creditors. These are a few of the debt types that its services assist with:
- Personal Loans Credit Cards
- Lines of Credit
- Medical Bills
- Collections
- Takeovers
- Business Debts
- Certain Student Debts
The first step is setting up a free, no-obligation consultation with National Debt Relief’s Certified Debt Specialists to discuss your financial situation and learn about all your options. Then, you can make a decision that’s best for your specific situation.
Here’s a look at some of the different debt relief options available, if you qualify:
Credit Card Debt Relief
If you have credit card debt, National Debt Relief can help you find the best plan to reduce it and pay it off. Their experts negotiate directly with your lenders to get them to agree on a reduced amount, which lets you pay a fraction of what you owe in less time and makes paying off debt more manageable.
Make your money work for you
Get the latest news on investing, money, and more with our free newsletter.
Debt Consolidation
Debt consolidation loans provide another way to pay off credit cards. These work especially well if you are juggling different credit card bills from multiple lenders with varying interest rates.
A debt consolidation loan combines all those debts into a single new loan that is typically at a fixed lower interest rate. This can save you tons of money in interest payments over the life of your loan and help you become debt-free much faster.
Personal Loan Debt Relief
Many options fall under personal loan debt relief. National Debt Relief can help you make a decision that’s right for the amount you owe, your credit score, and your short- and long-term goals. These types of loans are usually unsecured, which means they don’t require collateral.
Medical Debt Relief
According to the Consumer Financial Protection Bureau, medical debt ranks as the most common form of debt on U.S. consumer credit reports and something many Americans will face at some point in their lives. National Debt Relief offers services to help clients get out from under medical debt.
Marital Debt Relief
Marital debt refers to expenses incurred during your marriage. National Debt Relief helps couples follow a strategy to pay down unsecured debt.
Bottom Line
It’s not uncommon to have debt. The first step is making a plan. If you’re ready to take the first step toward becoming debt-free, it takes just a few minutes to get started here and set up a free, no-obligation consultation to see what your options are. You could pay off your debt for much less than you owe.
