2011 is the year many consumers have set a goal to get out of debt. It is a fine notion, but also one hard to accomplish alone. Many turn to counseling services, who they hope will give them good debt advice and help them on their way to financial recovery. Unfortunately, it is necessary to investigate counseling services and their possible motives before getting down to the brass tacks of eliminating debt.
Quite often, counseling services will say they are free, but in fact, are subsidized by the big lending institutions who hope to recoup as much as they can of monies owed to them. When this is the situation, one has to wonder how good the counseling services can be. Are they on the side of the consumer who wants to work to get out of debt or do they want to recommend plans that see the lenders getting the most payback? Most often, these types of counseling services will recommend some form of debt consolidation rather than use other methods now available. It is a traditional method of paying off debt through the use of secured loans taken out to pay off unsecured obligations. It makes the creditors feel better because they get paid in full. It makes the consumer worse because they now have to worry about the security of their home or other property. In debt consolidation, the only winner is the creditor.
Many debt counseling services are coming around to how well debt management and debt settlement can work in lieu of consolidation or even bankruptcy. These are methods that have never been a secret, but consolidation preyed on the consumer's feeling that debts have to be paid back in full. With the economy not yet recovering, more and more are turning to them as perfectly legitimate avenues for dealing with overwhelming credit card debt. Both debt management and debt settlement work faster than other methods, and they can satisfy both the creditor and the consumer at the same time.
Rather than promoting debt consolidation, counseling services are now beginning to wake up to the benefits of other methods that work toward a similar end. Unfortunately, this is not where their expertise lies and quite often the consumer is better served by seeking debt advice from a debt relief company, who specializes in these programs. Since no secured loan is required, there is no need for tying up collateral. Since there are no legal procedures as in bankruptcy, no attorney or legal fees are needed either. It is a professional way of negotiating with creditors to reduce balances and ultimately pay off debt but in agreed to, lesser amounts.
Those who seek alternative ways of eliminating debt almost always already have scarred credit ratings, and no debt counseling service can bring them back immediately. With the focus on relieving financial stress instead, debt settlement and bet management work quicker than their alternatives. Bankruptcy remains public and on a credit report for ten years. Consolidation loans are long term. The use of either of these when there is an alternative that works in three to five years and gets a consumer back on sound financial footing makes any other counseling service seem out of date. They don't work for everyone, but for those who have found success in debt settlement or debt management, the reviews are very good indeed.
National Relief has been a provider of debt settlement and debt management services for years, and is one of the country's most reputable firms. They offer top notch advice with no obligation to enroll, but after talking with them, you may find their professional services are the best to be found.
Article Source: http://EzineArticles.com/?expert=Max_Soni
Quite often, counseling services will say they are free, but in fact, are subsidized by the big lending institutions who hope to recoup as much as they can of monies owed to them. When this is the situation, one has to wonder how good the counseling services can be. Are they on the side of the consumer who wants to work to get out of debt or do they want to recommend plans that see the lenders getting the most payback? Most often, these types of counseling services will recommend some form of debt consolidation rather than use other methods now available. It is a traditional method of paying off debt through the use of secured loans taken out to pay off unsecured obligations. It makes the creditors feel better because they get paid in full. It makes the consumer worse because they now have to worry about the security of their home or other property. In debt consolidation, the only winner is the creditor.
Many debt counseling services are coming around to how well debt management and debt settlement can work in lieu of consolidation or even bankruptcy. These are methods that have never been a secret, but consolidation preyed on the consumer's feeling that debts have to be paid back in full. With the economy not yet recovering, more and more are turning to them as perfectly legitimate avenues for dealing with overwhelming credit card debt. Both debt management and debt settlement work faster than other methods, and they can satisfy both the creditor and the consumer at the same time.
Rather than promoting debt consolidation, counseling services are now beginning to wake up to the benefits of other methods that work toward a similar end. Unfortunately, this is not where their expertise lies and quite often the consumer is better served by seeking debt advice from a debt relief company, who specializes in these programs. Since no secured loan is required, there is no need for tying up collateral. Since there are no legal procedures as in bankruptcy, no attorney or legal fees are needed either. It is a professional way of negotiating with creditors to reduce balances and ultimately pay off debt but in agreed to, lesser amounts.
Those who seek alternative ways of eliminating debt almost always already have scarred credit ratings, and no debt counseling service can bring them back immediately. With the focus on relieving financial stress instead, debt settlement and bet management work quicker than their alternatives. Bankruptcy remains public and on a credit report for ten years. Consolidation loans are long term. The use of either of these when there is an alternative that works in three to five years and gets a consumer back on sound financial footing makes any other counseling service seem out of date. They don't work for everyone, but for those who have found success in debt settlement or debt management, the reviews are very good indeed.
National Relief has been a provider of debt settlement and debt management services for years, and is one of the country's most reputable firms. They offer top notch advice with no obligation to enroll, but after talking with them, you may find their professional services are the best to be found.
Article Source: http://EzineArticles.com/?expert=Max_Soni
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