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Getting Out of Debt - How to Eliminate Unsecured Debt With Government Help

Getting out of debt through a debt settlement has become more popular due to the recession and the massive government financial bills. With all of the financial bailouts of Wall Street institutions it is about time that debt relief has finally made its way down to Main Street.

Author: Erik Stump
Date: Jan 26, 2010 - 11:18:35 PM

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Consumers looking to getting out of debt should understand that not all types of debt can be negotiated through a debt settlement. Generally, student loans are rarely ever settled. Other types of secured debt that have an asset backing it up such as a automobile or a house are also challenging to settle because the creditors can simply take your secured asset if you fail to pay. The most popular type of debt to settle is unsecured debt. Credit card debt is the most common form of unsecured debt and is also the easiest to eliminate through a debt settlement.

It is no secret that America and many of its citizens are massively in debt. The Obama administration has injected significant stimulus money into our economy and only half of this money has yet to be spent. The other half is waiting in the treasury until the Fed feels it is appropriate to release. The money that has been spent has mostly went to large financial institutions.

This stimulus money however is now indirectly helping consumers settle their unsecured debt for very generous settlements. Getting out of debt after this recession has become very advantageous for consumers who find themselves in debt for over $10,000. If you are in debt for at least $10,000 it would be financially prudent to talk with a debt settlement company who will be able to eliminate at least 50% of your unsecured debt.

If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt.

FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link:

Free Debt Advice (http://www. debtreliefemergency.com/)

View all articles by Erik Stump

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