What Do Debt Settlement Companies Do?
According to a recent consumer credit study, credit card debt has increased by almost 6% in the last year, and over 34% in the last five years. The average American income has grown faster than the cost of living in the past ten years. But so has American consumer debt. Credit card debt was over $1 trillion in 2019. This staggering number also means that more Americans find themselves struggling to make minimum payments on their debt. Ultimately, this struggle has led them to seek help from debt settlement companies.
What Is Debt Settlement?
As consumer debt grows and grows, you may find yourself buried under the heavy burden of monthly payments. You may have heard of debt settlement companies, but aren’t sure what they do.
In a nutshell, debt settlement companies like UmbrellaDEBT Relief work on your behalf to help you reduce and eliminate your consumer debt. When you work with debt settlement companies, they’ll look at your specific financial situation and create a plan that will work for both your creditors and you.
Debt settlement is also known as debt arbitration or debt negotiation. Experienced debt specialists will work as your representatives with your creditors. Debt settlement companies aren’t just looking to reduce your interest rates or monthly payments to creditors. Instead, they attempt to reduce your overall balance so that you can eliminate your debt more quickly. Debt settlement may be the most affordable debt relief option. You may be able to settle your debt for about half of what you owe.
If you already have accounts that are in collections or charge-off, debt settlement companies like UmbrellaDEBT Relief may be your best option for getting back to a life of financial freedom.
Reasons You Should Consider Debt Settlement Companies
Relief From Overwhelming Debt
You know you never intended to have such overwhelming debt, and dealing with it now is causing stress on you and in your relationships. You’re not sure how to make ends meet with the minimum payments you have to various creditors. You’re tired of wondering how you’ll ever get out from under this heavy blanket of debt. Debt settlement companies want to help you settle the debt you have so that you can get back on the path of financial freedom. Their goal is to negotiate payments that you can afford and help you live debt-free again.
Debt Settlement Companies Negotiate Affordable Payments In Feasible Time Frames
UmbrellaDEBT Relief has experience working directly with creditors and may be able to negotiate a payoff for less than what you currently owe. They know how to work with you to protect you from the debt burden you have. They work with creditors for settlement amounts and negotiate payments you can afford. Debt settlement companies work to help you be debt-free in less time than if you paid just the minimum payments to your creditors. This means you’ll be back on the road to financial freedom faster.
Finding Financial Freedom Again
If you’re struggling with debt payments and want to find financial freedom again, you don’t have to do it alone. The experienced debt specialists at UmbrellaDEBT Relief will help you eliminate your debt and once again be financially independent. You shouldn’t have to bear the anxiety of credit payments month after month. We have decades of experience in assisting people just like you and helping you get your financial life back in control. We’re ready for you to make the call today, and work on brighter and lighter tomorrows.