If your FICO score is sub-par, there are several bad credit debt relief selections. But that doesn’t imply it’s not important to be knowledgeable of your options. It makes it more imperative.

Payday Loans It is not a shock that naive people are easy to take advantage of. A typical example is those that select payday loans. The high cost of interest shock you, sometimes paying1000 percent, or more per year. They encourage you to apply then if you don’t qualify, it’s not even possible to get your deposit back. Stay away from Payday loans, if possible.

Consumer Credit Counseling If your credit card debt is giving you stress all day, the CCC program may be able to assist you. They can assist you to reduce your interest rates and waive past due charges. CCC will consolidate your debts and you only need to make one monthly payment.

You could have a smaller payment every month but it might not be really reduced as much as your existing minimum credit card payment.

The majority of the CCC programs will mandate a minimum payment every month of 2.5-3.5% of your credit card accounts. You may be able to notice an overall reduction of the principle every month. The reduced interest rates will allow you to pay off your debt faster compared to repaying the credit card debt on your own.

Debt Settlement. A popular choice of bad credit debt relief is debt settlement. This strategy provides you an opportunity to achieve a settlement with you collectors, paying back less than what you presently owe.

The necessary payment every month in a debt settlement program is lower than the payment in a CCC program. The program also faster than the regular CCC plan. You should be able to pay off your debt in 2-4 years.

Debt Negotiation will affect your credit score in the short term. However, it’s only temporary. A credible debt settlement company should provide credit repair to raise your credit score.

Bankruptcy. This may be the best choice for you, but it should be a selection of last resort. It will significantly affect your credit score, and it is not a pleasant procedure to experience.

The long term effect of the higher interest rates you will be offered after bankruptcy will cost you dearly.

Debt Relief Conclusion Not every solution is appropriate each person’s needs. For those that need bad credit debt relief, focus on the solutions in front of you. Be aware that many people will tell you what they think you would like to hear to part yourself from your money.

Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.

We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.

We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.

On the other hand, we provide free services to significantly help to minimize the risks that are involved wIth negotiating with your creditors.

First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.

Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!

Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.

Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.

Our services are competitively priced- and include the above free services!