Debt Relief Programs

Debt relief programs - so many too choose from. Before selecting from the debt relief programs, you should know a little about each.

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Debt Relief Programs - Several Important Programs

Now that you have been initiated into the Debt Free Power gang, we can introduce you to the various debt relief programs available. We are certain that you have heard about a few of them, but there are a few that will catch you off guard. Ready? Okay, let's learn how to take care of debt...for good.

Important Debt Relief Programs

At Debt Free Power, we strive to introduce our team to every possible method of debt relief. You can never learn too much about debt relief programs. Pay close attention because this webpage will self-destruct after you read it.

  1. Debt Consolidation involves negotiation to get your unsecured debt balances and interest rates lowered. Then the new, lower balances are combined and you make one monthly payment to the debt consolidation company, which they distribute among your creditors.
  2. Debt Consolidation Loan is a loan given to you to pay off your unsecured debts. You pay off your unsecured debts immediately, but you still have the loan to pay back. The benefit is that the interest rate on the loan is so much lower (generally half of what you're paying now) and you can have it paid off in five years or less.
  3. Debt Consolidation Mortgage is a mortgage that allows you to borrow from the equity in your house to pay off your unsecured debts. Your payment is combined with your mortgage, and you get the same interest rate as your mortgage. In some cases, the interest is even tax-deductible.
  4. Student Loan Debt Consolidation is a student loan tool that combines all of your outstanding student loans into one and locks in a much lower, fixed interest rate for you. Your monthly student loan payments are cut in half because you are given more time to pay them off.
  5. Debt Settlement allows you to pay off your debts at 30-50 cents on the dollar. Generally, you have to have the money all at once, but some debt relief companies will give you one to three years to pay it off.

As you can see, there are a number of avenues to choose from when considering a debt relief program. Not sure if you can trust the debt relief company, you have in mind? Take a look at our other page that focuses on how to narrow down your search for the right company and the right debt relief programs.


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