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Debt Settlement Relief
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The simple truth is that debt settlement may be the best option for those who
GO
struggle to make their monthly payments. It won't affect your credit rating as
badly as a bankruptcy will, and the process itself if finished much faster than
paying off a long-term consolidation loan.
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Sunday, 6 November, 2011, 1:30 AM Posted by Azhar
Debt Settlement Relief
Debt Settlement Relief - The
Easy Solution to Solve Debt
Problems
By Jenna Harper
When it comes to debt
settlement, many don't
understand what's really
involved. They may be familiar
with terms like debt
negotiation, debt counseling,
and they may even have an idea of what debt settlement is; but they don't often
take the time to research it as a solution to debt relief before choosing another
option.
The simple truth is that debt settlement may be the best option for those who
struggle to make their monthly payments. It won't affect your credit rating as
badly as a bankruptcy will, and the process itself if finished much faster than
paying off a long-term consolidation loan.
Debt Settlement Relief - Guidelines to Start
Before you begin to consider debt negotiation as an option, let's first cover the
qualifications for a debt settlement program. First it's only an option if you have
over $10,000 in unsecured debts.
An unsecured debt is any debt that doesn't hold collateral to cover the loan.
For example a credit card is an unsecured debt. On the other hand your
mortgage, which holds your house as collateral, isn't.
Assuming you meet that one qualification, the next thing we need to cover is
the state in which you live. The states where credit counselling (settlement) is
not an option include: CO, CT, DE, GA, IA, ID, IL, KS, KY, MD, MN, MS, MT, NH,
NJ, SC, UT or WI. Any other state allows for debt negotiation, and if you live in
Canada you're also able to take part in a credit counseling program. more...