Website design By BotEap.com Government debt relief programs; exist?

Website design By BotEap.comYes, there are government debt relief programs. However, federal debt relief programs are only available for student loans.

Website design By BotEap.comFederal student loan relief programs are available at StudentLoans.Gov.

Website design By BotEap.comThe key to getting a low monthly payment and maximum loan forgiveness amount is qualifying for an income-based payment plan.

Website design By BotEap.comThe Pay As You Earn plan is a popular federal program that offers a low monthly payment and loan forgiveness.

Website design By BotEap.comThe lower a person’s income and the larger their family size, the lower their consolidated monthly payment will be.

Website design By BotEap.comStudents must recertify Pay As You Earn and all income-based payment plans each year, so if a person’s income changes, so can their pay.

Website design By BotEap.comAFSLR-certified student loan expert Wesley Hendrickson stated; “Don’t forget to recertify or you may lose your eligibility for loan forgiveness, and your payment could skyrocket. This is the most common mistake I see students make. The next thing you know, your salary will be garnished and your credit score will skyrocket. “.

Website design By BotEap.comFor credit card relief, government programs do not exist. Credit card relief options available through outside companies are available. Make sure the company you choose is IAPDA certified and rated by the Better Business Bureau.

Website design By BotEap.comA person can also work directly with their credit card company, but the savings will be minimal compared to what a person can save with a debt relief program. Your credit card company may temporarily reduce your payments and interest, but it will only be temporary.

Website design By BotEap.comMost debt relief companies across the country offer debt settlement services, but this program has negative consequences.

Website design By BotEap.comA person’s credit score can be negatively affected and credit card lawsuits can occur while in a debt settlement program. In only about 2% of all cases, credit card companies will sue a person while they are in a debt settlement program. While this is not a large percentage of lawsuits, it is something to watch out for and be ready for.

Website design By BotEap.comBefore joining a debt settlement program, make sure you understand ALL the possible negative consequences. Do your research and make sure the company helping you is transparent and has reputable credentials.

Website design By BotEap.comHow Debt Validation Works

Website design By BotEap.comDebt validation can allow a person to legally stop paying a debt and leave it without paying a penny to the debt collection company and only having to pay the debt relief company’s fees.

Website design By BotEap.comDebt relief programs that improve your credit score

Website design By BotEap.comNo debt relief program will improve your credit score unless you get a debt relief loan to pay off your credit cards.

Website design By BotEap.comSince all plans can have an adverse effect on credit ratings; Debt validation comes with credit repair, with the goal of having debt and associated negative marks completely removed from clients’ credit reports at the end of the program.

Website design By BotEap.comRick Sorrentino, IAPDA accredited counselor, advises consumers; “If you can afford at least minimum monthly payments, try to find another way to resolve your debt other than using debt settlement or debt validation. These programs should only be used as a last resort, to avoid one person having to apply. bankruptcy. “

Website design By BotEap.comConsumers can call 866-376-9846 and speak with an IAPDA certified counselor to learn about their credit card relief options.