If you are feeling the financial strain of debt, 2023 could be the year you get out of debt for good.
Depending on your situation, there are a number of top-rated debt relief programs you can choose from. You can:
- File bankruptcy to eliminate your debt.
- Obtain IRS debt relief to help pay off some debts.
- Get a debt settlement company to try settling your debts for you.
- Consolidate your debt into a debt consolidation loan or credit card.
Regardless of your situation, you can put debt relief companies and other pros to work for you so that you can pay off your debts for a FRACTION of what you owe. Find out how to pick a debt relief plan that will get you the results you need today.
4) Find Out How Filing Bankruptcy Could GET RID OF ALL YOUR DEBT
People are often scared or intimidated by the idea of filing bankruptcy. But if you need debt help and you’ve tried other options like budgeting, declaring bankruptcy can ELIMINATE your debt.
There are two types of bankruptcy that can give you the debt relief you need.
- Chapter 7 Bankruptcy pays off all the people and companies you owe money to with assets that you have, such as jewelry, cash or property. If you need credit card debt relief, this option could help eliminate your debt.
- Chapter 13 Bankruptcy works differently. This option lets you work with the court to create a repayment process for getting out of debt in three to five years. The court will look at how much money you make when setting up this plan so that your plan is affordable.
Consult a bankruptcy attorney online to find out which option would work best for you.
Some bankruptcy lawyers give free consultations. Then you can hire one of these debt relief attorneys to guide you through the legal process.
3) Tax Debt Relief Plans Can Reduce Your Debt to a FRACTION of What You Owe
If you owe money to the IRS, tax debt relief could help reduce or eliminate the money you owe.
If you’re in financial strain and are having trouble paying back the tax money, you might qualify for IRS debt forgiveness. This is known as “offer in compromise” (OIC). An OIC will let you settle your tax debt with the IRS for a FRACTION of the total amount.
The IRS will look at how much you make, what you own and how much money you spend each month to see if you qualify for tax debt help.
Don’t want to deal with the IRS directly?
Tax relief companies can work on your case and deal with the IRS for you. Then, they can finalize an IRS debt relief payment plan that is manageable and stress-free.
2) Debt Settlement Companies Try to Settle Your Debt for LESS THAN WHAT YOU OWE
Debt settlement companies can go to work on your behalf and try to settle your debt with your lenders so that you only pay a small amount compared to what you owe.
This is how it works:
- Hire one of the best debt settlement companies. Their debt negotiators will try to get you a debt resolution that works for you.
- Let the company deal with your lenders. The debt settlement program will try to put pressure on your lenders by asking you to stop making your debt payments and to stop communicating with your creditors.
- Let the debt settlement company work on your behalf. You will be asked to put your money in an account so that a company like National Debt Relief can access it. This is so that the debt settlement company can allocate money to certain lenders while they work with the lenders on a debt/credit card settlement.
- See if the settlement process worked. Finally, the company you hire will start negotiating your credit card debt or certain other types of debt so that you might pay significantly less than what you owe.
Keep in mind that debt settlement can be risky. The process can take a long time and even hurt your credit. Plus, there is no guarantee that the debt settlement company will succeed in lowering your debt. This is why experts believe you should only try debt settlement if other options haven’t worked.
1) A Debt Consolidation Credit Card Can Make Getting Out of Debt EASIER THAN EVER
Debt consolidation lets you put all your debts together, whether you have student loans, credit card debt or other loan debt.
This strategy is helpful because you get a low interest rate that makes getting out of debt easier. The goal of consolidating your debt is to spread your payments out over a longer period of time. This means you may end up paying more in the long-run, but your monthly payments might be lower.
In addition, when you consolidate your credit card debt with your other debts, you eliminate the need to make multiple payments every month. With a stress-free debt consolidation program, you only have to pay one lender.
Getting setup for debt consolidation is simple.
- Look at offers from the best debt consolidation companies. Top debt relief companies like Freedom and ClearOne Advantage offer debt consolidation services with thousands of positive reviews.
- Choose between a debt consolidation loan and a low interest balance transfer credit card. This is where all your debt will be combined. You should be able to get either option with an affordable low interest rate. Many companies will not charge any sign-up fees.
- Apply for debt consolidation hassle-free. The best banks for debt consolidation let you fill out an online application that tells you exactly which loans you qualify for. Then you can apply for these loans online.
If you are worried your credit score might be too low to qualify, note that you can still get debt consolidation loans with bad credit and start paying off your debts quickly.