If your debt situation has become too overwhelming for you to manage, you might immediately consider bankruptcy as your first and only option. This, however, may not be the case. When it comes to managing debt, there may be a variety of options. Here are a few ways to potentially avoid bankruptcy and work towards a debt-free life with the help of United Debt Counselors.
Make an Appointment
If you’re reaching a breaking point with debt, the first thing to do is realize that you usually have options. Avoid feeling overwhelmed by realizing that there are steps you can take in an effort to improve your situation. If you are not interested in or do not qualify for bankruptcy protection, the first thing you can do in this situation is to sit down and call United Debt Counselors. Ask to be connected to a debt representative. Once you’re put through, you can speak openly and without fear of judgment about your debt situation. The company representative will then work with you to create a realistic settlement plan specific to your situation.
Speak with a Local Representative
The next step is to meet with one of United Debt Counselor’s nationwide field representatives. This meeting can take place wherever you’re comfortable. It can happen in your home, in a restaurant, or a nearby coffee shop. The representative will meet with you to explain everything clearly, including the specifics of your settlement plan. This will give you a chance to ask questions, voice concerns, and discuss everything in detail. If there’s anything you’re unclear on or not comfortable with, you can work with your representative to figure out a suitable alternative. After your meeting, you’ll be officially enrolled and you can begin to start saving to pay back your debts.
Create a Repayment Plan
With United Debt Counselors’ trusted debt relief program, the company strives to set up a savings plan that fits within your budget, while allowing the company to actively negotiate debt settlements with your creditors. After you’re enrolled in UDC’s debt reliefprogram, you’ll be encouraged to set up a special interest savings account. Here, you’ll be able to put aside any amount of money you can spare each month to go toward the eventual repayment of each debt. Once you have enough money saved, your debt counselor will reach out to your loan lender, in an effort to renegotiate the terms of your debt so that you can enjoy significant savings and piece of mind.
Pay Off Your First Loan
Once you’ve saved up enough to pay out your first settlement, funds will be transferred directly from your special purpose savings account toward the repayment of the debt. After you’ve paid back your first loan, you’ll repeat the process with each remaining loan until you’re all paid off. Meanwhile, United Debt Counselors will be working to make sure you get the best settlement offer possible on your outstanding debts with the ultimate goal in mind of your finally becoming debt free.
Disclaimer: INDIVIDUAL RESULTS MAY VARY BASED ON ABILITY TO SAVE FUNDS AND COMPLETION OF ALL PROGRAM TERMS. PROGRAM DOES NOT ASSUME OR PAY ANY DEBTS, NOR PROVIDE TAX OR LEGAL ADVICE. CONSULT WITH YOUR PROFESSIONAL ADVISORS AS NECESSARY. PROGRAM NOT AVAILABLE IN ALL STATES, PLEASE REQUEST, READ AND UNDERSTAND ALL PROGRAM TERMS PRIOR TO ENROLLMENT. IMPORTANTLY, EACH PROGRAM OPTION HAS ITS OWN PROS AND CONS. DEBT SETTLEMENT PROGRAMS LIKE BANKRUTCY WILL NEGATIVELY IMPACT CREDIT SCORE. CREDIT COUNSELING PROGRAMS ARE OFTEN LESS AGGRESSIVE AND FOCUS ON FULL PRINCIPAL REPAYMENT IN CONJUNCTION WITH CREDITOR AGREEMENTS. FAILURE TO TIMELY PAY DEBT MAY RESULT IN A DECREASE IN CREDITWORTHINESS AND INCREASE IN DEBT OWED DUE TO INTEREST AND FEES.