How can I settle an unsecured debt on my own?
If you’re considering trying it on your own, here’s a rough guide to the steps you may want to take:
- Assess your situation.
- Research your creditors.
- Start a settlement fund.
- Make the creditor an offer.
- Review a written settlement agreement.
- Pay the agreed-upon settlement amount.
What is the National debt Relief hardship program?
The purpose of National Debt Relief and other debt-relief companies is to help consumers settle their debts at a lower interest rate and overall cost. To qualify for National Debt Relief’s debt settlement program, consumers must have at least $7,500 in unsecured debt for a qualified debt type.
How much does national debt relief charge?
National Debt Relief says their average client pays a fee of 15% to 25% of the amount of debt enrolled in their program. However, this fee is only paid once results are achieved and debt has been settled for less than the owed amount. Generally speaking, their fee percentage is on par with the industry average.
What is the financial forgiveness Act?
Generally, the Public Service Loan Forgiveness (PSLF) program allows qualifying federal student loans to be forgiven after 10 years (120 months) of qualifying, on- time payments while working for a qualifying public service employer.
How safe is National Debt Relief?
Minimum debt requirement: National Debt Relief requires a minimum of $7,500 in unsecured debt to qualify, the same amount as Freedom. Customer experience: The company is accredited by the Better Business Bureau with an A+ rating and around 80 customer complaints in the past three years.
Does loan forgiveness hurt your credit?
Unlike debt settlement or bankruptcy, where some or all of certain types of debt can be discharged, student loan forgiveness doesn’t hurt your credit and can be an excellent way to get help paying back what you owe.