Internet's first get-out-of-debt community - 196,000 members

Welcome to Internet's first get-out-of-debt community. Our community members and consultants offer free debt advice on debt consolidation, debt settlement, bill consolidation, debt consolidation loans, dealing with payday loans and collection agencies. Take advantage of a free debt counseling session and bail yourself out of the stressful situation.

What to expect after you fill out free counseling form

• A consultant calls you over the phone for a free debt assistance session. He evaluates your financial situation in order to suggest the right option for you.
• Once you agree to what the consultant suggests, he will start negotiating with your creditors. Negotiation is meant to lower interest rate on your bills and waive off any late fees. This is to ensure that you can afford payments and pay off debts faster. You can also avoid harassing calls from creditors/collection agencies.
• The consultant will guide you to manage your finances in a better way. He'll also help you to budget your expenses and improve your credit score.

6 Ways to pay off debt

Debt consolidation program is no doubt one of the smart ways to pay off debt. However, there are 6 other options to help you manage your bills and pay off debt.

• Debt settlement: It's a process through which you can pay off debt by taking help of settlement companies. These companies negotiate with creditors thereby reducing your outstanding balance by 40%-60%. Settlement prevents you from being harassed by creditors and collection agency. It may also help you avoid judgment, wage garnishment and other legal actions taken by creditors or collection agency.
• Debt management: This is a debt assistance program in which a credit counseling agency helps you to pay off debt through a payment plan negotiated with your creditors. While you're in a debt management plan (DMP), your creditors may cut down interest rates and reduce/waive off late fees. This is to ensure that you can pay off debt without getting into further trouble.
• Bill consolidation: This is helpful especially when you need to consolidate bills. Under this program, a loan consolidation company negotiates with your creditors or collection agency so that they allow you to pay off debt at low interest rates. It helps you to consolidate your dues into an easy-to-manage monthly payment. When you're consolidating your debt, creditors may be willing to reduce or waive off late payment fees and penalty charges incurred on your accounts.
• Debt consolidation loans: This is a kind of personal loan which helps in consolidating your debt into a single monthly payment. That is, you pay off debts with a large amount of consolidation loan. This loan can then be paid back in small monthly payments. However, bad credit debt consolidation loans are hardly available. This means if your credit is tarnished, you may not be eligible for a consolidation loan.
• Christian debt consolidation: This is similar to debt consolidation services except that it involves Christian values while helping you to pay off debt. Not all Christian consolidation services may offer you free debt consolidation. This means, they may charge you a certain fee when you enroll in their program.
• Self repayment plan: It's an option which helps you to pay off debt without any professional assistance. All you have to do is, assess your financial situation, prepare a budget and follow a repayment plan accordingly. Budgeting helps you to avoid overspending and save dollars thereby giving you the chance to accumulate free money to pay off debt. While you're on a self-repayment plan, avoid using credit cards as it'll add on to your outstanding balance. Try to maintain a frugal lifestyle while you're paying off debt.

Top rated articles to help you lead a debt-free life

• 7 steps to become debt free: Check out 7 steps on how to pay off debt and make your life stress-free. If required, take advantage of professional debt consolidation/settlement services.
• Debt relief: You can successfully pay off debt and get relief if you're able to choose the right debt assistance program. You need to utilize the option which will give you quick relief from the burden of monthly bill payments.
• Credit card debt consolidation: This is an option with which you can consolidate debt on credit cards. Credit card debt consolidation helps you to pay off debt at low rates of interest. Besides, creditors may be willing to cut down or eliminate late payment fees and over-limit charges.
• 3 Steps and 6 ways to get debt solution: Watch out for the 3 steps and 6 ways to pay off debts. Compare various solutions such as consolidation, settlement and others in order to decide upon the one that's right for you.
• Bankruptcy: Apart from debt consolidation or settlement, bankruptcy is another option to help you get rid of your dues. As a consumer, you can file either Chapter 7 or Chapter 13 bankruptcy depending upon which type will suit you and which one you'll qualify for. However, it is best to avoid bankruptcy because it ruins your credit history and does not help you to write off all your dues.

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