When debts are overwhelming, it is tempting to simply file for bankruptcy and start anew. But filing for bankruptcy has serious consequences on your credit score, and it is not at all easy to qualify for Chapter 7 bankruptcy. It would be better to try for Tennessee debt relief.
Benefits of Debt Relief in Tennessee
Debt settlement companies like National Debt Relief provides you with a way to settle with your creditors without leaving you completely destitute. Debt settlement is especially effective when dealing with unsecured loans such as credit card debt, because creditors are more willing to come to more reasonable terms during negotiations. The rationale is that it is better to accept less than they want rather than for the debtor (you) to default altogether and they wind up with not even the principal.
In Tennessee, the financial situation is rather dire, but not hopeless. Provided you deal with a reputable debt relief company, you could find yourself debt-free in as little as three years.
Choosing a Tennessee Debt Relief Company
There are a lot of debt relief companies out there who will promise the moon and the sun to persuade you to sign up with them, but you should be on your guard. There are a few sure signs that a debt relief company will not be able to help you as much as you hope. These include:
- Upfront fees
- No proven track record
- Lack of accreditation
Debt settlement involves giving your money to the debt relief company to be put into the account. Supposedly, this account will be used to pay off your creditors once an agreement on the payment terms is reached. Scammers and malicious debt relief companies will just take your money and leave you holding the bag.
National Debt Relief serves Tennessee, providing those in need of debt relief with:
- Free initial consultation
- Expert financial counseling and guidance
- A budget plan to prevent future debts
- Negotiate for the best terms with your creditors, aiming for lower interest rates, longer paying terms, waived late and penalty fees
- Reduce your overall debt considerably
- Deal with creditors to spare you harassing collection calls
There are other reputable debt relief companies who can provide you with the help you need. Ask your local credit counseling agency for referrals to FTC-compliant debt relief companies. You can also check out the firms that friends or family members have been helped by, and see if they can do the same for you in your situation. The important thing is to seek real debt relief as soon as possible.
The decision to get professional help for debt settlement will result in a lot of good things. The stress alone of being in debt is enough to paralyze most people suffering from the economic crisis. Unburdening yourself of that stress by taking positive action and letting experts guide you in your quest for Tennessee debt relief is a big deal in itself.