Personal Debt Settlement

#1 Personal Debt Settlement Solution Get the debt help you need. Curadebt is our recommend provider of personal debt settlement. They have been in business since 1999, and have helped homeowners across North American settle more than $250,000,000 in debts. Click the banner to get your 100% Free Consultation and learn how Curadebt can help you with your personal debts.

Personal Debt Settlement

If you’re been struggling with your current debt load, one option is to seek personal debt settlement. With the current state of the economy, the rise in unemployment, and with debt loads rising for many, this is an option that many people are seeking. As an option personal debt settlement is better than bankruptcy, by far, and it is one of the fastest ways to get out of debt.

The important thing when looking at personal debt settlement is to understand what it is, and to learn how it will help you reduce your debt load faster. Let’s look at what personal debt settlement is, whether it’s appropriate for you, and then we’ll give you the best options to purse this means of reducing your debts.  

What Is Personal Debt Settlement

Personal debt settlement is the process through which a professional debt company negotiates down your unsecured debts. With this process you will work with a debt counselor and they will work for you to reduce your debt load.

With debt settlement the actual balances of your debts are reduced, and that simple fact is what makes this one of the best options for most people with a large amount of unsecured debt. With the balances reduced, debts are paid off faster, and the whole process is completed much faster than with options like consolidation or debt management. Often balances can be reduced by 50% and sometimes even more.

With a basic understanding of what personal debt settlement is, we need to cover who qualifies for this type of program.

Is Personal Debt Settlement An Option For Me?

When you’re looking at your options, and considering settlement as the option to get you on the fast track to debt recovery, there are a few things you should know.

First, it’s important to understand that personal debt settlement only works with unsecured debts. That is, it will help you reduce the balances of your credit card debts, your personal debts (such as personal loans or personal accounts), and any other type of debt that doesn’t have collateral involved.

It won’t work with mortgages, auto loans, student loan debts, or tax debts.  Mortgages and auto loans are secured by the properties the lender holds as collateral. In the case of government secured debts such as student loans or tax debts, those types of debts won’t be included in your personal debt settlement plan as they are secured be the government.

With that in mind, there are only two criteria that need to be met in order to qualify for a debt settlement plan.

1. You need to have more than $10,000 in unsecured debts.
2. You need to currently be behind on those debts (or basically unable to meet all of your obligations).

Assuming that you have more than $10,000 in debt, and are currently behind (or soon will be), the only thing left to cover is how to get started with your settlement plan. 

Recommended Options For Personal Debt Settlement

When it comes to choosing which company to use for personal debt settlement, it’s clear that there are many companies out there that claim to be able to help. The truth is though that you should be looking for specific criteria when choosing a settlement company.

You’ll want the company you choose to:

1. Be Experienced – there are many newer companies, but it’s the ones with experience who will be able to help you more.
2. Be A Member Of The TASC – The Association Of Settlement Companies is the largest association in this industry, and to become a member the settlement company has meet stringent guidelines.
3. Be Able To Provide Proof – The best debt settlement companies will be able to show past settlement letters (often right on their site), and in general will have worked to save others money on their debts.

The two companies that we recommend that meet all three of the above criteria, and that work all across the US are Curadebt and Credit.com. Both companies provide free consultations, so you might want to use the links below to get a free consulation from both.

#1 Recommended Personal Debt Settlement Company – Curadebt

Curadebt has been helping consumers (and businesses) save money since 1999. They are a member of the TASC, and they have worked to settle over $250 million in consumer debt since the company was started.

You can get a free consultation from Curadebt using this link: Personal Debt Consultation From Curadebt

#2 Recommended Personal Debt Settlement Company – Credit.com

Another company that we recommend is Credit.com. The company itself has been in business since 1995, and their personal debt settlement services were added in 2003. Credit.com is a member of the TASC, and they are one of the more experienced settlement companies.  

You can get a free consultation from Credit.com here: Personal Debt Consultation From Credit.com

Personal Debt Settlement Video - The Balancing Act