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Consumer Debt Relief Program
More and more consumers these days are finding themselves struggling to simply stay afloat amid so much economic uncertainty. Debt, especially credit card debt is taking a huge chunk out of the personal family budget each month. There is a great deal of interest in a consumer debt relief program at this present time.
The good news is that there in fact programs in place today which are designed to provide real debt relief to those in need. These programs provide debt reduction and debt elimination over a period of time, and do not require a bankruptcy filing. This is key because bankruptcy can and will ruin the filer’s credit record and remain on their credit record for up to 10 full years.
Consumer debt relief programs that most people are immediately aware of include debt consolidation and debt consolidation loans (in the form of a home equity loan). While these programs can be effective, they do not provide a reduction in the total amount of debt that is owed.
Another program which can be of real benefit to consumers who are struggling with debt is consumer credit counseling. This type of program educates consumers on the ways and means of budgeting managing personal finances. Credit counseling programs are also able to work with lenders to provide lower monthly payments and extended payment terms.
The most beneficial consumer debt relief program however is a relatively new program called Debt Settlement. This type of program is one where a debt settlement firm will negotiate on behalf of the consumer with the consumer’s creditors to reach an agreement or settlement for a fraction of what was originally owed. Debt settlement can achieve reductions of 50% to 75% off of the original balances owed.
The key point of this article is that there are programs which can greatly benefit those who are struggling with credit card debt and other forms of unsecured debt.
To learn more about the various consumer debt relief programs available and how to get started, please visit Debt Relief.us
