If you’ve got debt, you’re not alone. As student loans, medical costs, and overall cost of living continues to rise in America, consumer debt has soared to more than $12 trillion. Hard-working folks turn to credit cards and other means to try to pay off what they owe, but often the high interest rates just make things worse. Thankfully, there are alternatives. A debt relief program is designed to improve financial health over time. Let’s take a look at how these programs can lead to debt relief and even freedom.

Are you considering a home equity loan to regain control of escalating debt? You aren’t alone. Many American families live beyond their means, with 43% of them carrying credit card balances each month. Furthermore, figures from the Federal Reserve reveal that as of March 2019, total nonrevolving consumer credit (loans) in America totals $2,994.9 billion. A home equity loan is one method of debt consolidation, but is it the right option for you?

It can be stressful when you fall behind on your credit card payments because money was tight. But when your credit score drops as a result, you need to take action. FICO uses your payment history as part of how they determine your credit score. In fact, whether you pay your bills on time accounts for 35 percent of that number. While there isn’t an overnight solution, there are ways to fix your credit score.

If you’re up to your eyeballs in credit card debt, you might feel like there’s no way out. You’ve probably heard a lot of advice about all the things you’re supposed to do, but what about tips for things to avoid? Here are some of the things you should not do if you have credit card debt.

It sounds too good to be true: By simply connecting with a representative of a debt settlement agency, the amount of your debts will decrease significantly, and in no time you’ll be debt-free. Well, it’s not that easy, of course. Debt settlement can be a long process that has many pros and cons, and it’s not always the best solution for everyone. Let’s take an in-depth look at the process of debt settlement, as well as other debt relief services, to see what option is best for you.

debt relief program

Looking for a program that will help you get out of debt? Some of the programs in the market today are more likely to make money for a company than helping with your debt relief. Educate yourself about your options before choosing a path. There are four main types of debt relief programs that are available for you:

When it comes to debt relief, there’s good news and bad news. The good news is that many debt relief programs can substantially improve your credit score. The bad news is that many debt relief programs can also cause those precious numbers to go down. When you’ve got overwhelming debt, of course, you want to get those numbers as high as possible. Understanding what impacts your credit score and what you can do to help it will make it easier to find success in your quest for financial wellbeing.

Credit scores are some of the most important numbers attached to your financial status. Having a good credit score can help you get a good interest rate when you borrow money. Good scores can also get you better insurance premiums and better deals when you’re signing up with a new cell phone company or upgrading your cable package. FICO scores range from 300 to 850, and anything below 580 is considered fair or poor. Needless to say, fair or poor scores can cost you a lot.

Everything You Need to Know About Debt Relief

If you’re like so many Americans and have debt, you may feel like you’ll never dig your way out. But relief could be closer than you think. There are many little-known solutions that are available to help consumers get back on track financially and reduce the stressful burden that comes from debt. Learning more about debt relief programs and debt consolidation loans can help you find the answer to your worries once and for all.

It can sound too good to be true: You’re drowning in debt, your credit cards are maxed out, you’re behind on your bills and you don’t know where to turn. Then you hear about debt relief companies. These companies will tell you that they are able to negotiate with your creditors to create a solution that will allow you to pay off your debts over time. It could be the answer to all your problems – but if you don’t choose wisely, these companies can actually be just another problem. Finding a reputable debt relief company means looking past marketing tactics and understanding the bottom line. Here are a few tips to help: