There are several debt relief options available to consumers now burdened with an un-workable amount of debt. Finding the best solution for your personal situation and the best company to partner with are the most important decisions you will make as you take the first steps toward your financial freedom. A brief definition of each option can be found below. For a more complete description of each option, you can click on the tabs near the top of the page.

·         Debt Consolidation – A process where a borrower engages an organization to either replace multiple lines of consumer debt with a single debt instrument or collateralize the multiple lines with secured debt. Decreases in interest rates are negotiated allowing the borrower to pay increasing sums toward principle. Principle amounts owed are not negotiable in debt consolidations.

·         Debt Counseling – The term debt counseling now provides an “umbrella” for companies in many activities considered to be outside the true definition of the service. In its truest form, a debt counselor, usually working with a non-profit organization, negotiates lower interest rates and monthly payments on a borrower’s debt. As with debt consolidation, principle amounts owed are not negotiable.

·         Bankruptcy – A last resort option for consumers due to the onerous, restrictive, and invasive nature of bankruptcy laws since they were overhauled in October of 2005.

·         Debt Settlement - A process where a borrower engages a company both to negotiate reductions on principle owed and the monthly payments required to service that client’s consumer debt. Reductions in principle owed normally range from 40 to 60%. Complete payoff of the reduced principle owed takes from18 to 48 months.

Be sure to study all of your options before making a final decision. That decision will be one of the most important decisions you will make as you take the first steps toward your financial freedom. The team at USA Debt Settlement is ready to answer any questions you might have in order to get started. Call us at (800) 466-1234 or apply on-line. The time to start is now.