Freedom Debt Relief Reviews Say You Can Count On Them

By Sean A. Kelly

Debt relief agencies offer solutions to all types of debt issues. Robinson had serious issues when debt on his personal loan had piled. He had taken the loan a few years back for an emergency, but had not been regular on his payments. As the interest rates on the loan were very high, the late payments and missed payments had added on the debt. Robinson had taken the loan for a short term commitment, but had not been able to repay the loan. His credit card debt had added on the debt list. All the late and missed payments for the bills on loan and credit card have resulted in negative report on his credit. Robinson was too worried about his debts and was looking for some ways to pay off the debts. He happened to read through the Freedom Debt Relief Reviews which invited him to sign up for a debt reduction program.

The debt settlement program Robinson signed for helped him to get off the debts earlier than he expected. The program had aggressive effect on his unsecured debts. The program helped Robinson move on from his debt burden. The best part of the program was that it demanded fees only after the customer’s debts were settled. The program had no advance fees or upfront fees or monthly fees. The agency consultants hold talks with customers to get optimal solutions for the debt issues. The agency may negotiate with the creditors to lower the balance due. When the agreement is made for the settlement, a new account for the settlement money is activated. The customer needs to make monthly payments to the new account. When the amount is accumulated enough for the settlement, the creditor is paid off. The amount remaining in the account may be taken as fees for the debt resolving process.

The debt settlement programs are opted for the reason that the customer may not have to deal with the negotiations and legal issues. The agency usually takes care of all the negotiations for lower rates, lower monthly payments and for lower balance dues. The experts and consultants of the agency may help by guiding customers with budget making and finance handling. The settlement programs usually settle for a balance amount much lower than the original amount. Sometimes, the interest rates may also be lowered, thereby making monthly payments affordable. Debt settlement is more often opted for than filing for bankruptcy. When a bankruptcy is declared by the customer the creditor tends to incur heavy loss. But, a settlement program when agreed by the creditor may help them get, at the least, a part of the balance amount. Debt settlement is considered better than bankruptcy.

Some debt settlement programs demand high fees for their services. Sometimes, the costs rise up to 15-20 % of the debt owed. Signing for a debt settlement program may have adverse effect on the credit scores. If the credit scores are fairly good, other debt relief options like debt consolidation loan can be opted for, as these programs may not have a negative effect on credit report. But, taking debt settlement programs may have negative effect on credit reports. The negative scores may stay for a longer time on the credit reports. Still, settlement programs are mostly prefered to bankruptcy, as filing for bankruptcy may have negative points on credit reports that may stay for ten or more years.

About the Author:

Freedom Debt Relief Reviews

Source:

isnare.com

Permanent Link:

isnare.com/?aid=700997&ca=Finances