If you find yourself on this website because you are desperately searching for a way to reduce your debt - you are not alone. Tens of millions of people are dealing with astronomical interest rates on their credit cards, pay rates that seem to never grow, and shaky employment opportunities. If you are ready to find out what debt relief options are available to you, then you have found yourself in the right place. The very first thing you need to know is that there is a unique solution to every problem. The debt relief solution that you use will ultimately be determined by your specific situation. Project Debt Relief has been established to help you understand your current debt situation and clearly identify the many different debt relief solutions that are available to you in your particular situation.
You should be considering a debt relief program if you are consistently finding it hard to manage your debts or if you can't seem to manage your budget in a way that you see fit. We know all too well how hard it is to manage monthly bill payments while trying to maintain a normal way of life. It's a very stressful time when you realize that you can no longer be approved for any type of credit purchase due to your poor credit history and failure to make payments on time. The stress only increases as your interest rates begin to increase because of late payment history. Debt relief programs can help you get your bills under control, your credit back in line, and allow you to live the life you want.
Everyone needs a little help every once-in-awhile. If you feel that your debt is growing out of control, then now is the perfect time to get involved with a debt relief option. While reading through the many guides and articles on Project Debt Relief, you are likely to find an option that is perfect for you. You will quickly learn about debt repayment plans and how to develop good habits that will help you to save money, consolidate your debt, and eventually become debt free.
Debt relief can be confusing. There's a good amount of sub-sections within the industry such as debt management, credit counseling, and debt settlement that you will need to understand before you can make an educated decision about the best choice for your situation. Don't worry, however; Project Debt Relief is here to help you understand everything that you need-to-know in a way that will minimize headaches as much as possible!
The many options available for reducing or eliminating the debt you have accrued are general focused around unsecured debt. Here are a few types of unsecured debt:
If you find yourself with any of the above-list unsecured debt, then you owe to yourself to read the FREE information on this website.
People who find themselves having problems making monthly minimum payments will find that there are many benefits in the form of debt relief. You need to know that the people or companies that you owe money to have an interest in recovering their money and are often very willing to negotiate to get that money back - even if it's just a portion of what was owed! If you are able to show creditors that you are working to eliminate your debt via debt management, consolidation, settlement, or credit counseling, you will find they are ready to work with you to make it happen.
By establishing a debt management program that is appropriate to your needs, you may be able to one, or many, of the following:
A debt relief plan is perfect for you and your family if you answer "YES to any of the following:
There is no reason to be embarrassed or ashamed of your debt. You are not alone - not in the slightest! Millions of Americans are dealing with the same issues as you. Visiting Project Debt Relief is a sign that you want to make a change and are motivated to do it. Don't stop here. Keep reading!
There are plenty of options to help you relieve your money issues. The key to success is choosing the right option that is for you! Here are some of the more popular options:
Debt management is often the first choice that people make when they attempt to tackle their financial problems. A debt management program will help you to create a budget and clearly identify your monthly payment requirements. This is perfect for people who may have damaged their credit rating due to late or skipped payments. Debt management will help you get back on the right track so that you will be able to generate a positive credit history.
In fact, enrolling into a debt management program with a debt relief or credit counseling agency can often increase your credit rating instantly. Creditors love to see people who are actively trying to pay off their debts. Taking action really does help!
When you are enrolled in a program, a debt counselor will help you create your budget, manage your monthly payments, negotiate with creditors, and try to get your interest rates cut or reduce your payments.
You may want to consider debt consolidation if you have identified that you have a debt problem, but are not at the point of being unable to make monthly payments on time. This option allows you to combined your debt in a single monthly payment that you are able to afford.
Debt consolidation is made possible via debt consolidation loans. To be eligible for such a loan, you need to have verifiable income and a good credit rating. This is why debt consolidation is best for people who have not yet begun to miss their monthly payments.
This debt relief option gives you the ability to transfer your debt from several high interest bearing accounts to one single account that has a lower interest rate. Debt consolidation loans, like most debt, can be either unsecured or secured. The type of loan that you qualify for is largely dependent on your credit situation. If you have a great credit situation, then this may be a great debt relief option for you.
The most common type of debt consolidation loan is a cash-out refinance of your mortgage. This type of loan cashes out the equity in your home so that you can pay off your debt. If you are able to receive this type of loan, you will be clearing your unsecured debt by putting your home at stake. If you fail to pay back the debt consolidation loan, you could be putting your home in jeopardy. It is also important to mention that you must have existing equity in your home in order to qualify for cash-out refinancing.
There are other types of debt consolidation loans besides the one already mentioned. However, these types of unsecured debt loans are difficult to qualify for and often carry a high interest rate.
Debt settlement is an aggressive debt relief strategy that is created to have consumers debt-free in 2 years or less. A debt settlement expert will negotiate with your creditors in order to reduce the balances that you currently owe. This is normally the least expensive option to clear your unsecured debt issues while still avoiding bankruptcy. A successful debt settlement will lower your principal and debt interest amounts significantly to a level that you are able to afford.
Proof that you have tried as many debt relief solutions as possible will be needed in order to convince a creditor that it is time to settle. A proper debt analysis should be conducted in order to determine if you are eligible for a debt settlement negotiation.
You need to be aware that negotiating a debt settlement will often impact your credit rating in a negative manner. The number of debt collection phone calls you receive may increase as well. This is because creditors are notified that you are trying to clear your debt, and they want to stay on top of you until the balance is gone. However, if your main priority is to get rid of your unsecured debt as quickly as possible, then debt settlement may be right for you.
Credit counseling agencies offer custom debt management plans to people who may need relief from increasing monthly debt payments and high interest rates. Professional credit counselors can significantly reduce the time it takes for you to pay off a debt by lowering interest rates from your creditors. The will identify the cause of your problems and work with you to resolve it.
This debt relief option is only suitable for those people who need a slight reduction in their monthly payment amount. Credit counseling lowers debt payments to manageable level for people with low to moderate debt. If you feel that you have severe debt issues, then you may need to consider debt management, consolidation, or settlement.
This is the last line of defense when it comes to relieving your debts. Bankruptcy is a very serious relief strategy that can affect your credit rating negatively for up to 10 years. It is becoming increasing difficult to qualify for bankruptcy due to corruption and laziness. The two most common types of bankruptcy are Chapter 7 and Chapter 13.
Chapter 7 bankruptcy allows you to "discharge" your unsecured and secured debt. This means that you are no longer obligated to pay these debts back to the creditors. Your assets will be liquated and any proceeds will be used to pay off as much of your debt as possible. It is unlikely that you will qualify for a Chapter 7 bankruptcy if you earn more than the annual average state median income.
It is more likely that you will qualify for a Chapter 13 bankruptcy. This type of bankruptcy will simply reorganize your debts and create a court mandated repayment plan that you are bound to pay back over a certain amount of time. The debtor is not required to liquidate their home or other assets when filing for a Chapter 13.
The amount of debt relief information on the internet is pretty overwhelming. There are so many different opinions and strategies out there that can drive a person insane. Our goal is to consolidate those opinions, strategies, and facts into one single resource for free!
Project Debt Relief is the place for you to find anything you need to help you manage your finances and get back on the path to financial stability. All of the information on this site is free and ready for you to use.
Once you are able to identify and understand all of the debt relief solutions that are available, you will quickly be able to make the choice that is right for you. All the answers to your questions are available right here on ProjectDebtRelief.com.
You may want to visit our Resource page and use some of the free calculators that we offer to begin determining what type of debt relief you need, if any.
Browsing the pages of our website for debt relief advice will quickly help you to find answers to your questions.
Project Debt Relief is here to provide you free information that may help you manage your finances and eliminate your debt. It doesn't matter if you need help getting credit, paying off debt, managing a debt collection, or creating a budget - we have the answers that you need.
Get Back to Financial Stability with Project Debt Relief!