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Non Profit Debt Relief Scams

Non-profit debt relief companies have become an increasingly popular option in recent years, due to the economic downturn and...

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Reputable Debt Consolidation

A lot of people turn to debt relief agencies after their credit score has already been significantly damaged by late...

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Debt Help  Terms
Call Today: (877) 274-1260
If you successfully complete our program, it’s possible that you’ll enjoy these benefits:
Settle your debts for less than you owe
  (read here for full details about how much you can expect to save)
Resolve your unsecured debts in 18 to 60 months
  (read here for full details on how long our program lasts)
No Up Front Fees - Don't Pay Till You See Results!
 
 
 
Key Debt  Definitions
Debt relief: the total or partial forgiveness of debt obligations through either a reduction in interest, the balance owed, payment terms, or all of the above; commonly refers to debt settlement, bankruptcy, and credit counseling, but can refer to anything that alleviates one’s debt burdens.

Debt settlement: approach to debt resolution that involves negotiating with creditors and resolving an outstanding balance for a lump sum payment of less than the principal. Also known as debt negotiation or debt reduction.

Debt consolidation: a loan used to pay off outstanding debts and in turn, the consumer pays back the loan at a presumably lower interest rate; the loan is typically but not always secured by property

Chapter 7 Bankruptcy: a proceeding in federal court in which an insolvent debtor’s assets are liquidated and the debtor is relieved of further liability; reported on one’s credit profile for 10 years. Commonly referred to as liquidation bankruptcy.

Chapter 13 Bankruptcy: a proceeding in federal court in which a debtor is ordered to follow a repayment schedule for 3 to 5 years in order to satisfy their debts; reported on credit profile for 7 years.

Credit counseling: approach to debt resolution that involves working with creditors to create a repayment schedule with reduced interest rates and late fees. Also known as debt counseling.

Debt management: the services provided by debt relief companies, whether credit counseling or debt settlement, or an individual strategy for debt reduction

Credit score: rating used by banks and financial institutions to determine the credit-worthiness of an applicant; a measurement of the probability that a candidate will default on any credit extended to them; Of the bankruptcy alternatives available to consumers, only debt settlement will affect one’s credit score negatively.
 
 
 
 
 

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