Posted on
August 3, 2009
at
5:00 am
No I'm not advertising free debt reduction programs..I'm actually on the lookout. It sounds as if it doesn't exist but I have faith. Would anybody really help you reduce your debts for free? I'm not naive..but I don't know about debt reduction programs either. Help?
Posted on
August 3, 2009
at
5:05 am
If you say debt reduction programs as in..steps or guidelines on how to reduce debt for free..there are plenty of that available online. Debt relief companies use sites with financial-related articles and threads to promote either the company or the industry itself. What sort of debt do you have?
Posted on
August 3, 2009
at
5:09 am
I agree with Salvador, and if you are referring to free debt reduction programs, as in debt management tools (calculator, budgeting spreadsheets, personal finance software, etc.)--there are plenty online too.
Posted on
August 3, 2009
at
5:14 am
Okay seeweed flavor, if you fill out one of the forms here at destroydebt.com, you get to speak with a debt consultant FOR FREE...you can ask questions pertaining to your unique financial situation. It's not a full blown program alright but you'd be enlightened as to where to go..or which debt reduction programs best suit your situation.
Posted on
August 3, 2009
at
5:19 am
Hey seeweed flavor, when you say debt reduction program, you could be pertaining to a program offered by credit counseling companies and debt settlement companies.They are not for free but before enrolling you into their program they are going to give you free debt counseling to see if the program is right for you. At this point you'd also know if privately run debt relief programs are for you or the government authored one--bankruptcy.
Posted on
August 3, 2009
at
5:21 am
I see..thank you all for the replies and can you tell me what the debt settlement program is about?
Posted on
August 3, 2009
at
5:33 am
The following are the usual debt reduction program that debt settlement companies give:-Assessment of your financial situation-Once you're in the program you'd be asked to stop payment to creditors.-So you can start saving monthly: via your own savings account or an escrow account.-From then on the settlement company handles all your creditor communication All these while they negotiate with your creditors to lower your balance to half, more or less.
Posted on
October 14, 2009
at
6:14 am
You are right there are no free debt reduction programs out there, there are only free initial debt consultation programs, just like what destroydebt.com is offering, if you fill out a form here. After your initial assessment, you would be given recommendations and if you take them up on that - that's going to cost you.
Posted on
October 14, 2009
at
6:16 am
If you are wondering how much an unsecured debt relief program is going to cost you:Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount.
Make sure that the company you are enrolling in is legitimate.
