What is Debt Resolution and How Can It Help?

Are you carrying big balances on your credit cards, struggling to make the minimum payments, and living from paycheck to paycheck?

You are not alone. Millions of Americans are in this same situation. According to the American Psychological Association, 72 percent of Americans are stressed about money. Twenty-two percent of them are extremely stressed.

If you find yourself overwhelmed by the amount you owe and the stress of managing multiple payments, you may be able to explore options like debt consolidation loans or debt relief programs. Debt settlement companies can also help negotiate with creditors to reduce the amount you owe, easing the burden on your finances and reducing stress.

Νow is a good time to evaluate the right  debt relief option and regaining control of your finances.

Common Types of Debt

Statistics have shown that the average American's debt amount can correlate with their peak earning years. The more you earn, the more debt you are likely to accrue.

The most common types of debt that lay the foundation for credit for an American consumer as charted below are:

• Home mortgages
• Auto loans
• Student loans
• Loans for bad credit
• Credit card debt
• Medical bills

_{(Source: Survey of Consumer Finances of the Federal Reserve.)}

How do People End Up in Major Debt...and Stay There?

• The increasing cost of living Over the last decade, the increase in the cost of living has significantly outpaced the increase in income. This imbalance has forced many families to rely on lines of credit, credit cards, and loans to cover basic expenses, exacerbating their financial strain.
• Financial stress often results in overspending. People who experience money-related stress are more likely to rack up additional unnecessary expenses than those without such worries.
• Paying for necessities not covered by household income increases credit card debt.
• Tiding over your finances through a period of unemployment also adds to credit card debt. 
• Travel expenses, either for work or pleasure, often exceed the projected budget for American families set for their travel credit cards. 
• Emergency medical expenses also take a toll on your disposable income.
• Non-medical emergencies lead to overspending as well.

Act sooner rather than later

Getting Started is the Hardest Part

Getting the ball rolling on debt resolution is difficult, but we will help you make monthly payments manageable.

To successfully begin, you need to enact a series of measures:

1. Assess your financial situation.
2. Educate yourself on the real cost of your debt.
3. Identify your trouble areas.
4. Prioritize your debts. Put your secured debts, such as your mortgage and auto loans, at the top of your list.
5. Establish a spending plan and set up a budgeting system.
6. Make sure you’ve reduced or stopped incurring new debts.

Start Addressing Your Debt

The first question you need to answer is, “Do I need a debt relief company to help me make the best financial decisions regarding my debt?” Some people who are not in significant debt can resolve their problems on their own. To make the payments efficiently, they may need some guidance on budgeting and tracking their expenses, but their situation may not require the services of a debt resolution professional. 

To learn whether you need a plan to get professional debt relief services, ask yourself these questions.

• Are you consistently behind on your credit card payments?
• Have you stopped making payments or do you ever pay the minimum monthly amount?
• Have you experienced a recent drop in income?
• Did you run into a major unexpected expense that put you in the position of  being unable to make your debt payments?
• Do you rely on your credit cards to buy necessities?
• Are you unable to pay your creditors?
• Have you maxed out your credit cards?

If your answer is “yes” to two or more of those questions, you may want to seek the advice of a professional debt relief company like ClearOne Advantage.

A look at the following chart reveals just how much a person with $50,000 in unsecured debt can save by choosing debt settlement over other options such as making only minimum payments on credit card accounts, going through credit counseling, or filing bankruptcy.

_{(Briesch, Richard. (2009). Economic Factors and the Debt Management Industry.)}

ClearOne Advantage Can Help

ClearOne Advantage has helped thousands of people get out of debt. We know how to hand you back control over your debt and regain your financial freedom.

We can help you by giving you a realistic road map out of debt. A ClearOne Advantage debt settlement plan can help you resolve your debt within a reasonable time frame, without sacrificing the things that matter to you.

If you have already taken some measures of your own to dig your way out of debt, we can assess what you are doing well and what you need to change. Our Certified Debt Specialists can give you a personalized plan and list the options you have at your
disposal.

How Does ClearOne Advantage Help?

A ClearOne Certified Debt Specialist can negotiate with your creditors to get you repayment concessions where you typically end up paying less than the amount you currently owe, which allows you to get out of debt more quickly.

Through debt resolution, you are not walking away from your debts. Rather, you are reaching an agreement with your creditors to satisfy the debt for a lesser amount than what is owed. A creditor is typically willing to do this because they realize that someone facing financial hardship has options available such as bankruptcy that may result in the creditor not receiving anything at all.

Debt relief plans are suitable for the settling of unsecured debt, such as credit card debt, medical debt, and personal loans.

Debt settlement may have some negative impact on your credit score, but this damage is much less significant than what declaring bankruptcy inflicts.

Call Now for Your Free Consultation

The ClearOne Advantage debt relief process starts with a 20-minute consultation with a Certified Debt Specialist at 888-340-4697. The specialist creates a customized relief plan, answers all questions you may have about it, and thoroughly explains the plan to you.

ClearOne Advantage does not charge any upfront fees for this service. We only earn money when you settle your debt and save money.

Getting out of debt is possible, and we can help you reach your goals with a reasonable, workable plan. 

Get a personalized debt relief plan from ClearOne Advantage at 888-340-4697 and take your first step toward financial freedom today!