Looking for debt Solutions?

Listed below are some of the methods that will help you to get rid of credit card bills and other dues.

Debt Consolidation:-
In this type of solution the creditors not only agree to cut down the interest rates but also reduce late payment charges. You are just required to make a single payment to your consolidation company which will then distribute the money to your creditors. This solution is the best to pay off credit card debt and other bills.

Debt Settlement:-
If you use this method use just have to pay a fixed amount each month to your settlement company. The company will help you to negotiate and your outstanding debt/bills will get reduced to 40-60%.

Debt Management (DMP):-
This method includes a credit counseling session. The counselor will analyze you debts and finances and will prepare a budget for you so that you can put in more cash towards your bill payment. After analyzing if the counselor finds that your debts is too high then he may suggest a DMP. Then he will negotiate with your creditors to lower the interest rates and cut down late fees.

Self Repayment plan:-
In this method no professional help is required; in fact this plan will help you to pay off bills on your own. In self repayment plan you will have to follow a tight budget on a monthly basis.

Ostrich Method:-
This method is based on the concept that if you ignore debt it will get vanished. But ignoring debts is not advisable as your credit will be ruined if you do not pay it off. Further more your creditors may harass you constantly.

Bankruptcy:-
This method should be considered the last as it hurts your credit and brings down your score by 200 points or more. It is better not to go for filing bankruptcy instead opt for other debt solutions.