Personal Debt Relief - How to Capitalize on Federal Stimulus Money to Eliminate Personal Debt

Personal debt relief has always been available for Americans struggling to pay their bills yet this debt relief has never been so financially advantageous. This past recession has put millions of people out of work and further into debt. There are now more people in debt than any time in history and creditors are becoming very concerned about collecting on their unsecured debt. They are therefore agreeing to very generous debt settlements in order to recoup at least some of their delinquent accounts. Federal stimulus money has made this financially feasible for major creditors as they are using this stimulus money to offset their expected losses in debt settlements. If you have over $10,000 in unsecured debt it would behoove you to look into getting a debt settlement while the conditions are so favorable. Once the stimulus money begins to run out the creditors will not be so generous.

The federal stimulus money was initially granted or lent to large financial institutions where the majority of consumer credit is issued. This money is now being used to help consumers settle their unsecured debt for a percentage of what they actually owe. With the help of a debt settlement company, consumers are eliminating 60% of their unsecured debt on average in this market and cases in the 70-90% range are becoming more frequent.

Your credit score will be negatively affected when you get personal debt relief through a debt settlement. You credit score will be temporarily lowered however it will not be nearly as bad as bankruptcy. Bankruptcy typically takes about 7 years to fully recover from while debt settlements only take 1-2 years. If you can deal with a temporary lower credit score to be able to eliminate over 60% of your unsecured debt then a debt settlement could be a wise financial decision.

If you need personal debt relief and want to hire a debt settlement company for debt negotiation then I have an important piece of advice. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt.

FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link: