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Family Debt Settlement
If you are having difficulty paying off your debts, don't despair - Family Debt Settlement may be able to help you. We offer solutions based on your situation and we will help you find the one that's right for you.
Every day, more and more American families are finding themselves trapped by the amount of money they owe and need help with their debts. Foreclosures are at an all-time high, and bankruptcies are also on the rise. The interest rates on most credit card debt are so high that virtually none of the monthly minimum payment goes to paying down the principal debt - almost all is purely interest.
What are your debt relief options?
- Debt Settlement
- Credit Counseling
- Debt Consolidation
What is debt settlement?
Debt settlement, also know as debt negotiation, is a type of relief program for consumers who are overwhelmed with unsecured debt. It is an alternative to total bankruptcy for people with substantial unsecured debt and little ability to pay it off on their own.
Through negotiation, Family Debt Settlement may be able to settle each account for a reduced amount. In some cases, depending on the total amount owed and your ability to pay, it usually takes somewhere between 24 and 48* months to completely settle and pay off the debt. Typically, the settlement allows debtors to pay off their debts in a shorter time than consumer credit counseling because the amount owed (principal) is reduced, not just the interest rate.
Is It right for you?
If you cannot make all of your monthly payments each month, or cannot pay more than the minimum monthly amount to reduce the principal, then our program may be right for you. If you are considering bankruptcy because of your debt, and want to avoid it, then contact Family Debt Settlement first to see if we can help.
What about Debt Consolidation?
Debt consolidation, which is also known as Consumer Credit Counseling, can give you some relief. A debt reduction program allows debtors to pay off their debts in a much shorter period of time - usually five to seven years. And, for those debtors who are already behind on their payments, and receiving phone calls and letters from their creditors, joining a Consumer Credit Counseling program may help.
A debt consolidation program is usually facilitated by a non-profit Consumer Credit Counseling (CCC) company. The CCC has structured relationships with some creditors that enable their clients to pay off their debts at a much lower interest rate. With CCC, the debtor can pay less then what they're currently paying. Since a monthly minimum payment to a credit card company is almost all interest, lowering the interest rate cuts the monthly payment. And, a greater percentage of what is paid goes to reducing the amount owed, rather than to servicing the debt.
Is It right for you?
If you are having trouble making your monthly payments, or if you have been making them every month but cannot pay enough to reduce the total amount you owe, Consumer Credit Counseling may be right for you.
How To Get Started
- Obtain a quote from Family Debt Settlement by calling us or filling out our online form.
- A Family Debt Settlement representative will discuss your options based on your family's situation.
- Carefully consider other debt relief options including the advice of a bankruptcy attorney that offers free consultation, or credit counseling.
- If debt settlement is still your first choice, our team of negotiators will begin working with your creditors to reduce your balance payoffs.
Once you have selected to work with Family Debt Settlement, you will have taken the first step to resolving your debt problem and restoring financial security for your family.