As Americans we, fortunately, have several options for dealing with excessive unsecured consumer debt. The best option will vary between individuals, so review the five options below for more information on each one. Contact us if you have any unanswered questions or if you want more detailed information about our Debt Settlement Program.
Your Unsecured Debt relief Options
Option 1: Pay the debts off yourself
If you have the means, paying off the debt yourself is usually the best solution.
Option 2: Credit Counseling/Debt Consolidation Services
The banking industry has developed an ingenious marketing concept of home equity loans to help consolidate your outstanding debt, known as Debt Consolidation. They sell you on the idea of a lower overall interest rate, a better tax break and possibly lower monthly payments, but does the debt ever really get paid off? You need to ask your self if it makes sound financial sense to take unsecured debt and secure it with your most valuable asset, your home? Credit Counseling organizations were originally set up by Visa in the early 1980's as a means of recovering money from thousands of people that were starting to fall behind on their payments. The unfortunate truth is, in excess of half of all people who start a Credit Counseling program never actually complete paying off their debt. Ultimately, a debt consolidation program involves a debt consolidation loan (this is one large loan used to pay off smaller loans,). An example of this would be, having a number of credit card balances with high interest rates. You could then use a debt consolidation program, to be better able to handle your finances by lowering the interest rate that you're paying. Your credit cards will most likely have higher rates, and a secured loan, the consolidateion loan (such as a home equity loan or second mortgage), will have lower rates. And though they might be beneficial to some borrowers, these programs also have some pitfalls. By definition, a debt consolidation loan will be some sort of secured loan, which means it will be secured to some type of property. In most cases, the loan will be structured as a second mortgage on your primary residence. Many people have heard of debt consolidation, and so that often becomes the reason that they consider it. But you may benefit more from a different approach, such as our Debt Settlement Program.
Some consumers turn to bankruptcy when they feel there’s no other option. Yet while bankruptcy may seem like a magic solution, halting legal actions and discharging your debts, it can have lasting long-term effects. Bankruptcies become part of the public record, so anyone can find out about your bankruptcy, and a bankruptcy will stay on your master credit report for life. Even if you change your financial situation in the future, a bankruptcy may haunt you, making you ineligible for loans, permanently disqualifying you for some high-level or sensitive positions, and preventing you from becoming bonded. Plus, you must give up control of your assets to the court, and you risk losing your home or vehicle if you can’t keep up with the payments.
Some people will try to ignore their financil probelms. This is the probably the worst path to take. Simply ignoring your debts will not make them go away and this inaction will only make to problem worse. It is important to make a finanacial plan and act on it in order to get out of debt. A good option is our Debt Settlement Program
USCA has been helping thousands of Americans to get off the credit treadmill and save them thousands of dollars while on the road to becoming debt free.
Most Americans do not have the time or knowledge it requires to manage the debt negotiations process successfully. Many people feel that since they have been a long time customer the company will be sympathetic to their hardship and give them a break.
We wish debt settlement was that easy, however it is not. In order to successfully negotiate a settlement with your creditors/collectors it requires a well thought out plan of phone calls and settlement proposals over time.
Debt negotiations require the unpublished knowledge of the policies and procedures of hundreds of companies regarding how settlements are handled. A tactic that works with one company could have the reverse effect and cause another company to become more aggressive.
Since 2004, the USCA has been offering debt negotiation services to Americans looking to resolve their debt situation in the quickest amount of time for the least amount of money. Since then we have negotiated and settled over 6,000 accounts with an accumulative debt total of nearly $40 million dollars! In doing so we've continued to develop and refine the process and program that we consider to be one of the very best in the country.
It begins with our philosophy, which is one of "full disclosure.” That is telling perspective clients the whole story up front, both the benefits and the potential downside's of debt settlement and making every effort to set the proper expectation upfront.
We welcome the opportunity to learn more about your situation and together we can determine if our program will be able to help you resolve your current financial crisis and get back on the road to financial freedom.