There are many things you can do for debt relief. If you have debt in collections, the best option is to call a debt settlement agency and have them negotiate a lower settlement amount for you to pay off. This will make it more affordable and get you out of debt quickly as long as your follow-up and have the money available for the payment plan. This option only works for debt that is in collections. Do not ever listen to a company if they tell you to stop paying your bills. The company you work with should be looking to help you improve your credit score, not destroy it by telling you to stop paying your bills.
Another option for those who have too much debt, but it is not in collections, is to look into a debt consolidation loan. This is a good option for those who have more debt than they can afford, and making the minimum payments is not helping, because of the high interest rates. A debt consolidation loan will allow the person to make one payment instead of multiple minimums and they will have the option to lower the interest rate!
If you are interested in discussing your debt relief options, contact us.