Between Thanksgiving, Christmas, New Year’s and Valentine’s Day, you may have accumulated more credit card debt than you anticipated or wanted to. Once the bills and statements begin arriving in the mail, it be easily to suddenly feel overwhelmed, frustrated, and stressed out.
While some consumers choose to file an early tax return in order to put the funds towards their debt, this is only a temporary form of debt help, and is far from being a permanent or long-term solution. Whether it’s astronomical interest rates, difficulty keeping up and track of with monthly payments, creating a budget and sticking to it, or simply too much debt, working with a debt relief agency can help you get and stay out of debt.
Debt relief centers offer permanent credit card debt solutions that get to core how you got into debt. Debt relief companies offer a number of versatile debt relief options that are based on your specific and individual financial situation. Remember, there is no cookie-cutter approach to debt relief. Debt counselors understands that every financial situation is different, and therefore, must be approached individually.
Two common credit card debt solutions offered by debt relief agencies are debt settlement and debt management. While these solutions may differ in terms of how handle debt, they’re both effective in reducing if not eliminating debt in order to provide relief.
So what’s the difference? Debt settlement involves having an experienced debt counselor negotiate with your creditors in order to reduce interest rates or the amount of debt owed, if not both. In fact, some debts may be able to be eliminated entirely through this option, depending of course on the nature of the debt, the amount owed, and the amount of time the debt has existed.
Debt management, on the other hand, involves consolidating all of debt into a single, easy-to-remember monthly payment that is then distributed amongst your creditors. This can make planning and budgeting that much easier, as well as providing the satisfaction of paying off your debt.