- Reduce your monthly payment by up to 50%
- Be debt free in as little as 12-30 months
- Reduce your debt by up to 50%
- Make one simple monthly payment
- Dont risk your home or other personal property if
you miss a payment
- Dont pay service fees unless our debt relief / debt reduction program saves you money
- Reduce your stress and get a New Deal
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What is the Fastest Debt Relief Solution?
1. Lump sum debt settlement - This is the fastest debt relief option available to consumers and what Franklin Debt Relief specializes in. To better understand how it works, consider this example: Jim owes $10,000 on a credit card. He wants to pay off the full balance, but he only has $5,000 available for payment. Jim contacts Franklin Debt Relief to negotiate with the credit card company. Once the credit card company sufficiently reduces the amount Jim owes, he pays them a lump sum of $5,000. In turn, they clear the entire debt and report to the credit bureaus that Jim no longer owes them anything. This process typically takes between 3 and 6 months to complete.
2. Debt Settlement - This is another rapid debt reduction option available to consumers. In Franklin Debt Relief's debt settlement program, your monthly payment is reduced by up to 50% and these funds are put into a savings account in your name every month. Once enough funds have accumulated and a creditor has agreed to a sufficient settlement, they are paid with the money from the savings account. This process normally takes between 12 and 36 months to complete, or almost one-tenth the amount of time it takes to become debt free when paying the minimums on 19% interest credit cards.
Other Fast Debt Reduction Options
1. Credit card balance transfers - For consumers with high interest credit cards, this is one way to quickly reduce the time it takes for you to pay off the balances. Unfortunately, many of the balance transfer offers expire rapidly, and consumers may find themselves in a bigger predicament down the road.
2. Home equity loans - Consolidating your credit card debt in a second mortgage is another way to quickly reduce the time frame it takes to pay off your debts. Since the interest is tax-deductible and often times very low, it is a much faster debt reduction option versus paying the minimum payments. Unfortunately, by securing your debts with your home, you are risking a lot if you default.
Tips for Quickly Reducing your Debt
1. Create a budget. In cases where a consumer's debt load is manageable, budgeting is oftentimes the simplest way to put yourself in the position to rapidly reduce your debt. Simply put, by monitoring where your cash goes every month, you will be able to figure out ways to cut expenses and use the surplus cash for making extra payments.
2. Attack the card with the highest interest first. By eliminating the card with the highest interest first, you end up paying less to become debt free. When you pay less overall, you become debt free faster.
3. Make weekly payments. Because the way our calendar falls, you will make the equivalent of an extra monthly payment by following this plan. For example, let's say you paid $100 every week instead of $400 per month. By the end of the year you will have paid $5200 versus $4800. When your goal is quick debt relief, anything helps.
4. Sell your assets. If you're really in trouble and you find that none of these fast debt relief solutions are helping, consider selling your assets and settling your debt with the proceeds.
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