Americans are drowning in debt and, in fact, collectively owe more than $13.8 trillion to debtors. If you’re one of these Americans feeling the pressure of too much debt, you do have options beyond worrying and scraping by to get your bills paid. Have you considered hiring a debt helper to help you navigate the world of debt consolidation?
Finding a debt helper
There are plenty of options when it comes to finding a debt helper when you’re feeling overwhelmed by your bills and responsibilities. Money is a hard thing to discuss with friends and family, especially if it’s about money troubles. But if you can, ask someone you’re close to if they know anyone that helps with these situations. If all else fails, head the internet for a quick Google search for debt helpers in your area.
Getting your paperwork together
Once you find a professional to help you with your financial situation, start gathering your paperwork. Your debt helper will want to see all of your most recent credit card statements, loan balances, and other financial obligations that you carry. Create a file of these items and be sure to bring them to your consultation appointment.
What your debt helper will do
Your debt helper will look over your documents and formulate a plan. Part of that plan will be calling your credit card companies and other debtors to negotiate lower interest rates and maybe even settlement balances lower than the amount you actually owe. If creditors agree to these kinds of terms, most often it will include closing your account once it’s paid in full so you will no longer have access to that line of credit.
Impact on your credit
Enlisting the assistance of a debt helper can improve your credit over the long term. It’s important to keep up with your arranged payments and to always make them on time. It’s likely that the debt your currently carrying has taken a toll on your credit score, but with a solid history of chipping away balances due and consistently paying on time, your score will start creeping up in no time.