As you begin to work this system, keep in mind that it’s not easy. Just like losing weight, losing your debt takes work, but if you genuinely want to slough of that stressful debt, your perseverance can make it happen. And don’t fret if you need to make adjustments along the way. This isn’t about a quick fix, it’s about changing your habits and behaviors so you can achieve your financial goals.
Contact your bank and stop payments to the agency servicing your debt management program as soon as you become aware the agency has shut down. You should immediately contact the creditors involved and ask if you could continue paying them directly or would they work out another payment plan. Also, ask for a credit report and verify that previous payments you made to the DMP agency were sent to your creditors. If payments were missed, there could be some negative consequences to your credit score. Finally, you could contact a nonprofit credit counseling agency and ask them to intervene on your behalf with your creditors.
Speaking with consumer credit counseling agencies is just the beginning. Next, you have to determine whether the services are actually what you need, or if you can accomplish more on your own. Remember, credit counseling doesn't do anything that you can't do; they simply provide guidance for the best approach to managing your debt. You can contact creditors and negotiate the payment terms of your account. Anybody can do this on their own, but sometimes people need a little extra help staying on track.
Start paying into your settlement fund. National Debt Relief asks you to make monthly payments into an escrow account that it can eventually use to pay your debt settlement costs. This monthly payment is typically lower than monthly payments on your debt. While you can stop making payments on your debt if it’s unaffordable, you’ll end up paying more in the end.

Getting out of debt goes beyond making monthly payments, it takes discipline and self-control to avoid taking on new debt. Stop using a credit card to fund your lifestyle. Make a conscious decision to stop borrowing money, whether it be from a credit line or credit cards. By putting a stop to borrowing money you don’t have, you can focus solely on your existing debt and avoid any new debt from forming.
Being deep in debt is a very stressful situation – especially if what you owe is more than what you are earning every month. Any breadwinner in the family feels this burden day in and day out. The pressure to make sure that the family is provided for is frustrating. While paying for the usual bills, you need to make sure your debts are paid on time and correctly. Not to mention having extra money to put aside so you will have emergency money for unexpected situations.
Went with National Debt Relief. One of my creditors Capital One decided to take me to court and sue me for $8880. Balance at my last payment was $7911. I borrowed $3500 and deposited it in my bank account at National Debt Relief hoping they could reach an agreement and avoid court. I was due in court on Monday. The Friday before court they notified me they had a verbal agreement with Capital One. I was required to take the agreement to court on Monday and have the Capital One Lawyer agree to it and the Judge to sign off and dismiss the case. The agreement was sighed by all parties. National Debt still charged me the full amount of there fees 22%. The agreement was for 70 Cents on the... Read More
The interest rate of your loans has no effect on your credit. You will pay off the loans quicker if you concentrate on the high-interest rate loans and as a result your credit utilization ratio will go down which will improve your credit, but you could achieve a lower credit utilization by paying off the loans with the lower interest rate as well so your statement is misleading.
This only happens in the first month of the program. After that, your payments are made on time according to the new schedule. As a result, most people see their scores improve because they have low credit scores starting out. That one month of “missed” payments is usually a drop in the bucket compared to all the other payments that might have been late or missed while you were struggling.
As you begin to work this system, keep in mind that it’s not easy. Just like losing weight, losing your debt takes work, but if you genuinely want to slough of that stressful debt, your perseverance can make it happen. And don’t fret if you need to make adjustments along the way. This isn’t about a quick fix, it’s about changing your habits and behaviors so you can achieve your financial goals.

Personal loans. Personal loans are another solution to refinance debt. You can take out a personal loan to repay credit card debt, medical debt, payday loans, or other types of high-interest debt. Many personal lenders do forbid you from using the proceeds of your loan to repay student debt, but otherwise you have almost endless flexibility in what you can use the borrowed money for. 
Reducing the term of your loans, even with a lower interest rate, will likely increase your current monthly payment. But with fewer years of payments to handle, you can save a bundle over time. SoFi, a top student loan refinancing provider, offers one such service. With no prepayment penalties and no hidden fees, it’s an easy way to save thousands of dollars in interest payments over the life of your loan.
To qualify for National Debt Relief, you must have at least $7,500 in debt and a demonstrable financial hardship that you cannot recover from. Financial hardship includes a divorce, unemployment, loss of income, the death of a spouse and unpaid taxes. National Debt Relief uses this proof of your financial hardship as leverage to negotiate with your creditors.
There's also an important caveat: You need to determine if the lender you're thinking about repaying charges a prepayment penalty for early payoff. Some personal loans, auto loans, and mortgages charge if you pay off your debt before the designated time. If so, you may not want to put that debt on your early payoff list, as any money saved on interest might be lost to the penalty.
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