Free Debt Help
Welcome to Free Debt Help. We provide free information on how to get help with your debt.
We’ve searched the Internet for a site devoted to giving people fair and honest debt help, but to be honest we couldn’t find one particular site that did so. Most of the sites we found either focused on one particular type of debt problem or were trying to sell something (debt consolidation, debt negotiation, etc.). Although these sites are often helpful and sell legitimate debt services, the problem I’ve found is that they don’t teach you what your debt options are or how to make the right decision as to what the best debt solution is for you. That’s why we’ve created this site. Its goal is to help you find debt help by helping you determine how much debt trouble you’re in, teaching you the options you have available, and then helping you decide which option is right for you. Making a decision to get debt help is a personal decision that should be made by you after you have been given your options. Getting help with your debt is not something you should have to pay for. And if you do pay, you should know exactly what you are paying for. Don't let anyone sell you products or services based on fear. If you've seen any commercials lately, most companies are trying to scare you into buying credit monitoring services and debt negotiation services. Don't pay for any website or company debt services unless you've checked the company out with the better business bureau, or one of the many online rating agencies, to make sure that there are no complaints against the company and to make sure that they deliver what they promise. With that said, hopefully, with some knowledge and perseverance, you can get your debt under control by yourself.
How Much Debt Trouble Are You In?
Level 1 - Your debt makes you uncomfortable and you would like to get rid of it
Level 2 - You can make your debt payments but you are stretched
Level 3 - You can barely make your debt payments
Level 4 - You can no longer make your debt payments on time, but hope to get back on track
Level 5 - You don’t think you’ll ever be able to make your debt payments
What are Your Debt Help Options?
Get out of debt yourself. Use self-discipline to help you increase your monthly debt payments and get out of debt.
Lower your debt payments through debt consolidation or realignment. Optimize your debt to the lowest interest rate and the best payment plan.
Hire someone to re-negotiate your debts. Work with a debt help company to re-negotiate the terms and amount of debt you owe.
File bankruptcy. Use the legal system to reduce or eliminate your debts.
What is the Best Solution for You?
This solution is optimal if you fall into the first two levels of debt trouble (uncomfortable and/or stretched). It should also be used in combination with the rest of the solutions presented below in order for you to help keep the debt from rising again in the future.
This solution can be used by anyone with a substantial amount of debt and is most easily accomplished if you have some type of real estate or other asset in which you can pledge. By reorganizing your debt into one loan, and hopefully at a lower interest rate, you can not only simplify your debt, but you can reduce your payments and lower the amount of time it takes to pay off your debt.
This solution should only be used when you are having trouble meeting your debt obligations or you are unable to meet the debt obligations. It is done through companies offering debt elimination, debt counseling and other debt help programs. The pluses are that it can often eliminate some or most of your unsecured debt (including credit cards and personal loans). The biggest negative is that it will tarnish your credit for the next few years.
This step should only be used when you are physically unable to pay off your debts. There are two main types of personal bankruptcy and both will severely hurt your credit. However, bankruptcy is also a very useful and legal way to eliminate a lot of your debt and give you a second chance to get out of and stay out of debt.