Debt Relief Clearinghouse - Viable Option for Debt Relief

Unfortunately, we live in times that can very unpredictable and turbulent.  The housing market is fallen flat on its face, inflation is getting out of hand and if you still have a job, you are one of the lucky ones.  Still worse, people are finding themselves in debt and having no way out.  If you are in financial turmoil, you may want to look at a debt relief clearinghouse service to get you back on your feet.

Debt relief clearinghouse can be a huge help if you find yourself in a very difficult financial position. Maybe you lost your job, lived beyond your means, or are simply inundated with high interest credit cards you no longer can afford. All these things can be overwhelming and will not get better until you take action.

If you are in this situation, there are a number of debt relief clearinghouses ready to help with a word of caution. Just because they come up on the first page of Goggle when doing a search, does not necessarily mean they will look out for your best interest. Keep in mind, there are a lot of fraudulent companies out there and many have helped to get this country in the financial mess we now face -- keep your wits.

Most clearing houses will charge a fee in some way, shape or form. A common misconception are that these services are free. Most are not. Unless you find services in a church or some other non-profit organizations, be prepared to pay some kind of fee.

There are a number of options that come with working with a debt relief clearinghouse. Probably the easiest and fastest option is a debt consolidation of all your loan debts into one loan with a similar or better interest rate. This option does nothing to reduce your debt, but may allow you to manage it better. The other option is debt settlement. With debt settlement, the service provider will negotiate with your creditors on your behalf to reduce your overall debt. This can be a win-win situation for both you and the creditors. Debt settlement can be a bit of a gamble though since creditors may not be willing to forgo what's coming to them. Keep in mind, that debt settlement could be a much more difficult method, it will depend on your situation.

So there are options available when working with a debt relief clearinghouse service. Debt consolidation and debt settlement are only two of the common ones. You should proceed with caution however as many companies are only looking to monetize your unfortunate situation.