debt resolution can work despite what others think

Many people can manage finances relatively easily. Credit card bills come and go, and they can even pay more than the minimum. That’s one way Americans keep a FICO credit score above 700 and get a mortgage or car loan without much hassle. 

However, among the 191 million people in the United States who have credit cards, some live with the burden of minimum payments, pink bills and harassing phone calls every night. For those individuals, life can be challenging. 

That’s why options for financial assistance are crucial to their well-being.  

As we enter 2023, a discussion about those options may occur in some state governments. And with one vote, countless Americans could be denied a right to financial representation. The issue is that some of those options need to be understood by elected officials who have differing views of the available, regulated and effective options in the marketplace. 

Some of those officials’ constituents count on them to do that because, unbeknownst to those fighting for their rights, it may be their only option. Here are a couple of reasons why. 

Bankruptcy is not the only option.

Today, Americans in debt are asked to consider bankruptcy if they can’t secure a personal loan to pay their bills. Why go directly to an attorney if there is another way to pay back the debt? Maybe some loan managers don’t know every available option in a regulated marketplace. 

Anyone in financial services would tell you the first step to getting back on track is understanding your options.

Do you know how difficult it is to get a loan with a reasonable interest rate if you have a fair to poor credit score? What if you missed a couple of payments but got caught up and then decided you needed another credit card? Odds can decrease to get accepted, and you may not even know it. 

Payment history is one of the most significant factors for your credit score. If that bank manager has to tell you they are not giving you money, they should make other recommendations. Unfortunately, that conversation could lead to considering bankruptcy. 

Why do that and have a blemish on your credit for up to a decade? Not to mention, it is possibly becoming part of the public record too. Instead, you can partner with a team of people who’s got your back to get you out of debt in as little as two to four years. It’s worth considering. 

Everyone deserves the same options to do what they feel is best for their situation, regardless of outside opinion, discussion, or understanding. That is what the debt resolution industry faces today, and if you’re one of those who experience debilitating financial stress, you face it as well. 

Debt Management Plans work and other tools do too.

Professionals in financial services have no problem asking you to consider a debt management plan. We strongly encourage those as well. But, if budgeting and planning were a surefire approach for everyone, bankruptcy attorneys would have fewer clients, and banks would be handing out far fewer debt consolidation loans. 

That’s why partnering with a team of debt resolution experts in their field that does what they say and provide you the life you deserve should remain an option. If you can’t do that alone, there are other ways to get out of debt. Debt resolution works because organizations like ours work closely with your creditors already. They take our calls and want to work with you. 

Many creditors understand that life can give you tricky detours and a few dead ends. Were you planning on losing your job? Did you know that wreck was coming? And who wants to spend time in a hospital learning how much that will cost? That’s why debt resolution works for millions of Americans.

According to the American Fair Credit Council (AFCC), debt resolution saves Americans $1.5 billion annually. Additionally, it saves consumers $2.64 for every $1 in fees. Our clients aren’t trying to hide from what they owe. Life threw them into a downward spiral of unexpected debt, and they needed help. If debt resolution was taken away, it would be a shame because the testimonials of success are heartwarming

Bringing Clients Resolve for Good 

Let’s shed some light on a few things about debt resolution as an option if you face a difficult financial situation: 

  • We do “consolidate” your payments, but this is not a loan. The money you deposit into your account to pay creditors belongs to you. If you want to stop the program, you can. The money is yours. While withdrawing may be subject to earned and third-party fees, there is no penalty for canceling at any time. 
  • No client pays a dime to the debt resolution provider before the work occurs. If a “debt resolution” company starts telling you what you owe before they do any work, hang up and report them. It’s the law, thanks to the Federal Trade Commission. You may have heard differently, but it doesn’t happen. 
  • When debts are settled–and your worries have been resolved–the incurred interest and fees cease. They are included in the creditor’s settlement agreement. That negotiation frees up money for clients to use toward their other bills or even save money. 

Probably the most important thing we stress to any consumer, client, policymaker or concerned citizen who doesn’t understand the details of debt resolution is this: We help an underserved market. 

It can be problematic for some financially challenged people to qualify for a personal loan with a reasonable interest rate. And others feel they have limited options or no choice but to decide to file for bankruptcy. Debt is something you have; it’s not who you are! Some consumers need more assistance than others to escape that downward debt spiral. Debt resolution is an important choice for everyone struggling to live the debt-free life they deserve. 

That’s why we are fortunate to do what we do–move people beyond debt and help transform their lives. It is a choice, and if you want to make that choice, we’re here to help.