Top 5 Reasons for Debt Settlement

Many people are so far behind on debt because of unexpected circumstances such as job loss, health issues or just making poor uneducated decisions that they almost have no chance of ever getting out of debt. Debt settlement offers an alternative for those that are in bad situations financially. Here are some reasons why opting for a debt settlement may be the best option to get back on your feet.

1. Actually Get Out of Debt – If you have way too much money in bad debt and seems like you will never be able to get out of debt by making the minimum payments every month, debt settlement plans offer a finite length in months where if you adhere to the debt settlement agreement, you will be out of debt. There are plans as short as 24 months up until 60 months.
2. Save Money – Believe it or not, you can actually pay less than what you owe, thus saving money. The amount you save will vary depending on each individual circumstances and their creditors. You can save anywhere from 30% to 70% off your debt, or even more if you can prove you are in a really bad situation and close to declaring bankruptcy.
3. Reduce Stress – Only a person in a situation where they are considering debt settlement can understand the stress that it may put on one’s life. Life is short, it is time to enjoy it!
4. Consolidate Monthly Payments – Instead of making multiple monthly payments and having multiple creditors hound you, you just make one payment every month.
5. Rebuild Credit – Although your credit will take a hit with debt settlement, you will be on your way to rebuilding it sooner than if you just say behind on your monthly bills every month.