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How to Legitimately Eliminate Your Unsecured Debt and Become Debt Free in 12 - 36 Months

There is a way to legitimately eliminate your unsecured debt and become debt free in 12 - 36 months and I'm not talking about bankruptcy. I'm talking about debt settlements. Debt settlement companies are significantly expanding across The United States due to the massive amount of people who are currently in debt.

Author: Erik Stump
Date: Jan 25, 2010 - 10:08:43 PM

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Credit cards are the most common form of unsecured debt that consumers and small businesses try to settle and currently credit card companies are agreeing to very generous settlements. This is a byproduct of the recession and also the financial stimulus money. If you have over $10,000 in unsecured debt it would financially behoove you to talk with a debt settlement company but you need to know where to find the best performing companies in order to receive the most favorable deal.

A debt settlement company will be able to eliminate 60% your unsecured debt on average. This is only the average and cases in the 70-90% range are not at all uncommon in this market. The company will negotiate with your creditors and use their leverage and knowledge of the industry to get consumers a settlement deal. It would be wise for consumers to only seek out established companies that have been in business for at least 1 year. It takes time establish relationships with all the major creditors and therefore more established companies will be able to generally get more favorable settlements.

When you eliminate your debt through a debt settlement it will have a negative impact on your credit score and any company who tells you otherwise is not being truthful. This lower credit score will be temporary and most consumers are able to repair it within 1-2 years. Debt settlements are clearly a better alternative than bankruptcy and if you would be willing to accept a lower credit score to eliminate 60% of your unsecured debt, a debt settlement could be a wise financial decision.

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. CreditCardDebtNegotiations.com)

View all articles by Erik Stump

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