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How to get out of debt I New FTC Laws I Does debt settlement work I Choosing a debt relief program I Debt Settlement or Debt Consolidation I Debt settlement and your credit I Can you settle your own debt I Understanding debt settlement fees I Debt settlement and your taxes I Can I be sued I Debt Help - Get Started today!

Does Debt Settlement Really Work?

A 10 part debt relief guide

Part 2
- Go to Part 3

DebtConsolidationCare Debt Help NJDoes Debt Settlement Work?
The effectiveness of a debt settlement plan depends upon your financial situation and your ability to make the payments, but all in all it's the best debt help method for people drowning in unsecured debt.  Many consumers are quick to choose bankruptcy as a debt elimination option.  It may seem like a tempting option, but you will most probably end up destroying your credit for the next 10 years.

Why put yourself in such financial jeopardy when a debt settlement company can simply lower monthly payments to your creditors, with credit repair programs that best fit your budget?  Once you sign up with a debt settlement company, your financial situation will be evaluated and your debt settlement counselor will devise a manageable payment plan.

Depending on your budget and amount of debt, you can pay as low as 40% of what you owe per month!  For example, if your monthly minimum payments add up to $700.00, you'll only have to pay $280.00 per month (plus debt settlement fees).  That will free up your finances tremendously!

Why Does Debt Settlement Work Better than other Debt Relief Methods?

Unlike bankruptcy, credit counseling, debt consolidation, and other methods of debt elimination; debt settlement doesn't have nearly as negative of an effect on your credit.  Plus, it's a cost-effective strategy.  In the hands of the right debt settlement company (i.e.:  Premier Debt Help), you could end up saving tons of money.
Does Debt Settlement Work for Everybody?
As long as you stick to your debt repayment plan, debt settlement will work for you.  Your debt settlement counselors are on your side to help you.  If you fail to make your payments, despite their best efforts to reduce your debt, the error is on your part. 

That's why before you start paying off your creditors, the debt settlement company allows you to save money into a trust account.  In this way, you won't have to scrape together pennies when it comes time to actually make those monthly lump sum payments. 
Remember that the whole reason you're in debt is because you didn't use your finances wisely.  This is your chance to start on a clean slate.  This is your chance to be financially responsible and undo the mistakes of your past.

How expensive is Debt Settlement?
It all depends on the debt settlement service you choose and the amount of debt you possess.  Debt settlement companies, like Premier Debt Help, are performance-based.  This means that you won't pay until services are rendered.  If your debts do get settled, a small fee is added to your monthly payments.  If your debts don't get settled, you don't pay a cent and you can move on with your life.

An easy way to spot a debt settlement scam is when a company charges you up-front fees, which is against federal law.  Any good debt settlement company is performance-based.  After all, why should they have any motivation to help you settle your debts when they've already collected a huge chunk of money from you?  They just take your money and run (which is what these scams often do).

Check out DebtConsolidationCare. They offer a free, no obligation debt settlement obligation once you fill out the form on their website.

How Long Does Debt Settlement Take?
Again, that all depends on your amount of debt and your monthly lump sum payments.  Obviously, if you have a huge amount of debt, it may take over three years.  That's still a lot less than the time it would take to make minimum monthly payments on your credit cards for the next 20 years.

Debt settlement lowers your interest rate, which is what causes your principal balances to decrease at such a slow pace.  If a high balance remains on your credit card for a substantial amount of time, the majority of what you're paying goes towards interest.

For smaller debts, it may take you a little over a year to pay off your creditors.  In other words, debt settlement won't eliminate your debts overnight, but they will be eliminated in a much shorter time period.  There's no reason why you should spend a quarter of your life making payments to your creditors.

Why Choose a Debt Settlement Company to Settle your Debts? 
You can settle your debts on your own, but it's an arduous and time-consuming process.  You're better off in the hands of a professional debt settlement company with years of experience handling creditors.  A topnotch debt settlement company, like Premier Debt Help, has the experience needed to get you the lowest monthly payments available.
OK, so now that you have a better understanding of whether or not debt settlement really works, lets move on to part 3 of our 10 part debt settlement guide.
Go to
Part 3 - How to choose the right debt relief or debt settlement program.  
10 part debt guide

Part 1 - New FTC Laws
Part 2 -
Does debt settlement work
Part 3 -
Choosing a debt relief program
Part 4 - Debt Settlement or Debt Consolidation
Part 7Understanding debt settlement fees
Part 8 -
Debt settlement and your taxes
Part 9 - Can I be sued
Part 10
Debt Help - Get Started today!
Trustworthy help can be hard to find when it comes to your financial position, but we've done the work for you! Check out our list of debt consolidation companies and top credit repair companies.

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