If you find yourself struggling with too many bills that you can’t keep track of and dread the harassing phone calls from bill collectors, then reaching out to a debt relief service may be ideal for you. Debt relief services help as a mediator between you and the lender, simplifying the process and giving you room to breathe. Legitimate debt relief companies also will not charge you any fees upfront, until the actual debt is settled. Only then will you pay a percentage of the amount settled, usually ranging around 15%-25%. This will give you peace of mind that the process itself is legitimate.
So how does it work?
A debt relief company negotiates debts on your behalf. They are the ultimate bargaining chip in convincing creditors to settle the amount of your debt for less than what was originally owed. This is in part because these accounts have already been sold to collection companies for pennies on the dollar. Instead of pursuing the full amount, they are more apt to receive a partial payment, rather than not receive anything at all. Once an amount is agreed upon, you pay monthly towards the total, and when you reach the full amount, the settlement company will transfer the total to the creditor, satisfying the debt.
A debt relief company may be ideal for you if you find yourself in any of the following situations:
- You feel overwhelmed by your debts and lost track of what and who you owe.
- You have fallen behind on bills and don’t predict you will be able to catch up anytime soon.
- Your debt consists of personal loans, credit cards, medical bills or certain private student loans.
- Bankruptcy is not a feasible option for you.
Not all debt relief companies are the same and you should be sure to do extensive research before making a decision. Clear Sky Financial offers a helping hand in debt management offering peace of mind, convenience, savings and a pathway out of debt. If you have been struggling financially and haven’t seen a light at the end of the tunnel, it’s time to take the step towards financial freedom. Please contact us today!