Debt Relief Programs

by Julie Supermom
(Wisconsin USA)

Regarding debt relief programs: Hi, Kate After completing 3 international adoptions over the past 11 years, we owe $63,000 in credit card debt and a 2nd mortgage HELOC, (home equity line of credit).

**Super Kate Tip: Why settle for less than perfect credit?
Consult the Experts to Clean Up Your Credit Report.**

I used to grab teaser rates, then just keep transferring balances. But now, the days of good offers are gone, and some of our cards have lowered the amount of further credit available to us.

We now have teaser rates that are ending, with nowhere to transfer the funds to. Any advice? Thanks, Julie

Kate Answers: Debt Relief Programs

Ask Kate

Hi Julie, You're in luck because it just so happens I do have a thought or two on this matter!

I guess we could even say the current financial crisis is responsible for motivating you to make a change. But I won't go so far to call it a silver lining in the cloud.

Regardless, I am sure you would be relieved to resolve this burden on your finances. So let's talk about debt relief programs also known as debt consolidation, alternate methods of borrowing and increasing income.

Debt Relief Programs

Debt consolidation allows you to get out of unsecured debt as quickly as possible. Debt relief programs present themselves in two major types of plans. There are important differences between these plans to consider. Let's take a look.

A debt management plan is an agreement between you and a debt relief provider. Briefly, unsecured debts are paid in full over time in a single monthly payment that is distributed to creditors by the provider.

In return, after 3 consecutive payments, most creditors will agree to reduce interest charges, eliminate late fees, and reduce monthly payments.

Debt settlement is an alternative to bankruptcy. Those who want to pay back at least a portion of their debt but cannot afford debt management may be candidates for debt settlement.

Monthly payments are placed into a settlement account. Then the provider works to negotiate with creditors for repayment, less than what is owed. Upon mutual agreement, settlement payments are paid from the account.

Peer To Peer Lending - Debt Relief Programs

Or maybe a simpler method of debt consolidation using LendingClub is better for you. It's a way to help both borrowers who need loans and investors who need a return on their investment.

Think about it! What if borrowers and investors could be brought together outside conventional banks and yet still be safely under the umbrella of the Securities and Exchange Commission. Check out my Super Kate review at Peer To Peer Lending - Cut Out The Bank to learn more about this fresh concept.

Bust Debt By Increasing Income - Debt Relief Programs

An alternate debt buster, Site Build It! focuses on creating additional income.

When Napoleon Hill said

"Every adversity brings with it the seed of an equivalent or greater benefit."

and

"What the mind of man can conceive and believe, it can achieve."

did he have SBI in mind?

I think so because it certainly has been my experience! Right here is where you can read my personal story about Site Build It as told by my husband. I think it will make a lot of sense to you.

Supermom and Debt Free

Hey Julie, You are a fantastic person. Yes, a supermom! So do something today for yourself and your marvelous family. Get on the road to being debt free. You deserve it and so do those lucky babies!

Best Wishes,

PS If you still have questions regarding debt relief programs, write me at Ask Kate where every question is a good question.

**Super Kate Tip: Why settle for less than perfect credit?
Consult the Experts to Clean Up Your Credit Report.**

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