If you are tired of debt and the limitations it imposes on your life, you need a plan to radically alter your financial situation. Here are some of your debt resolution options:
As a premier debt relief company, we acknowledge that choosing the optimal debt relief program can seem overwhelming, especially when you are already struggling to pay and settle your debt. That's why we recommend that you speak to a ClearOne Certified Debt Specialist who will help you in choosing a debt relief plan that meets your particular needs.
Here's a brief overview of what each type of debt relief involves.
You may be able to reduce your debt on your own if:
Through the Snowball Method, you go after the credit card with the smallest balance first, while paying the minimum on the other credit cards. This way, you retire one card at a time. The Avalanche Method requires you to retire the credit card with the highest interest rate first.
The advantage of DIY debt reduction is that it does not hurt your credit score and it does not cost anything beyond what you owe plus interest. The disadvantage is that you may find that you are not making real progress toward your goal of freedom from debt. In that case, you can always consult with a ClearOne Certified Debt Specialist to analyze your situation and explore other debt relief options.
When considering debt relief options, explore accredited debt relief services - especially if you're dealing with different types of debt such as private student loans, business credit cards, student credit cards, or personal credit card debt. These services can provide solutions just for you to alleviate financial burdens. Whether through DIY methods or professional assistance from debt relief companies and debt relief programs, choose the best approach for your financial freedom.
Debt settlement plans are often a good option for people who owe more than $10,000 in unsecured debt like credit cards. If you are struggling to lower interest rates, make the minimum monthly payment on credit cards, or are making little to no progress paying your creditors the principal amount of debt you owe, a debt settlement plan can help you get back on track.
When you choose a debt settlement plan with ClearOne Advantage, we do all the heavy lifting for you. Here's how it works:
Settles your debt for less than you owe: Our professional Certified Debt Specialists negotiate with creditors who often agree to accept less than you actually owe. Make a plan for a more financially secure future.
Credit counseling/debt management is a form of debt consolidation that may work well for thousands of people with $5,000 to $10,000 in unsecured debt. It allows you to bundle credit card debts into a single package, by making a single monthly payment with lower interest rates and possibly forgiven penalty fees.
Credit counseling may have a slight negative impact on your credit score, and there are some upfront fees as well as monthly management fees to consider.
Bankruptcy should be considered a last resort for those who can see no other way to free themselves from debt. A successful bankruptcy filing creates an automatic stay that protects you from creditors for the duration of the process.
Filing is complicated, however, and working with a bankruptcy attorney is usually required and there will be fees involved. Even if your bankruptcy filing is successful and you are able to discharge some or all of your debt, the severe impact on your credit score lasts for 7-10 years.
Debt consolidation loans aim to replace your multiple, high-interest credit cards with a single, low-interest loan. This way, they consolidate your monthly payments into a single payment under more favorable terms. These loans may be suitable for people with excellent credit.
Debt consolidation loans feature payment periods of 36-60 months. The main danger of “paying off one debt with another” is that you may feel tempted to start using your paid-off credit cards again. Another danger is that, because some debt consolidation loans are secured, you risk losing assets you use as collateral for the loan if you default on your payments.
You are at the right place if you don’t want to engage in a debt relief process without knowing the potential outcome.
A ClearOne Advantage Certified Debt Specialist can help you to determine if debt settlement is the right option for you, as well as help you put together a customized solution to pay your creditors which also fits your financial situation. Defeat your debt the smart way! Find out how.
Struggling under the weight of credit card debt? Take back control by exploring how Debt Settlement can provide credit card relief.
If your goal is to pay off credit card debt in a reasonable amount of time, you are going to have to pay more than the minimum payment. Here’s why.
There are scores of reasons why it makes sense to work with a debt settlement company . In this article, we discuss five benefits of debt settlement.
Debt settlement can save you money and is the sensible solution for certain debtors once the pros and cons are considered. Find out if it is right for you.
I wish to thank you for all of your agency support and encouragement. The last two months have been very stressful due to the accounts going legal. It has been also very rewarding to get through this process and have a good grip on our future and we have started this planning and example for our children.
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ClearOne Advantage, LLC is a debt settlement company, not a lender, loan broker, creditor, credit services organization, or debt collector. ClearOne Advantage, LLC does not assume or pay any debts; receive, hold or control funds belonging to consumers; or provide bankruptcy, legal, accounting or tax advice. You should review full program terms and conditions before enrolling. To the extent that any aspect of the debt settlement services relies on or results in the consumer’s failure to make timely payments to the consumer’s creditors or debt collectors, the use of the debt settlement services: (1) Will likely adversely affect the consumer’s creditworthiness; (2) May result in the consumer being subject to collections or being sued by creditors or debt collectors; and (3) May increase the amount of money the consumer owes due to the accrual of fees and interest by creditors or debt collectors. Not available in all states. Some third-party fees may apply. C.P.D. Reg. No. T.S. 12-03822.
ClearOne Advantage is not a credit services organization and we do not make any claims regarding improvement of a consumer’s credit scores. Entering into a debt settlement program could adversely affect your credit score.
**Disclaimer - We do not charge upfront fees and you do NOT pay our fee until a settlement has been arranged, you approve the settlement, and at least one payment is made towards the settlement. As each situation is unique, fees and costs vary. Please contact us at 888-340-4697 for a free debt analysis and for complete program details.