SOURCE: National Debt Relief Program
CHICAGO, IL--(Marketwire - Sep 7, 2012) - Debt consolidation and credit card debt relief programs are being taken advantage of today by Americans from all walks of life who have been pinched by the new economic reality and are in need of ways and means to help reduce their debt load with the end goal of becoming debt free.
Debt relief providers have made it easier than ever for individuals to get started online in their quest to overcome the debt trap and get on with their lives. A look at new economic indicators sheds light on the situation.
The labor market lost momentum last month as job growth fell to a disappointingly slow pace. In fact, the percentage of working-age Americans who are employed or actively seeking work is at a 30-year low. This is putting a huge stress on the finances of millions of Americans and this is where debt relief programs can help.
Debt management plans help people decrease and eliminate debt. These plans work best with "unsecured debt," or debts such as credit cards, medical bills and personal loans. Debt management plans can be extremely useful and helpful for those who are struggling under the weight of too much personal debt. Debt management companies can negotiate with a person's unsecured debt lenders to lower interest rates or lower their monthly payments.
One strategy that some credit counseling agencies may suggest for debt management is debt consolidation. With debt consolidation, a person rolls all their unsecured loans into one low-interest, fixed-rate loan. This typically requires that the person in debt have an asset, such as a house or car, for this debt relief service to work.
Debt settlement, also known as debt negotiation and debt arbitration is another direct approach to getting out of debt which has become increasingly popular in recent years. Consumers with $10,000 or more in unsecured debt may want to explore if this option is right for them as this in many cases offers the quickest path out of debt.
National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website: