Debt Mediation
When credit cards and other debts have grown to be overwhelming for an individual or family to handle, there are several debt relief options available to help you get out of debt and save money in the process. For many people debt mediation may be the option that best meets your needs.
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While the debt relief center does not provide direct debt relief services, we can connect you to debt relief companies who can assess your situation and assist you.
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Debt Relief Options
Debt mediation is a form of debt negotiation or debt settlement, but debt mediation typically involves a very large amount of credit card or other unsecured debt. For this reason debt mediation may be handled by an attorney or law firm that specializes in working on your behalf to negotiate debt settlements for you. Debt management is another debt relief option that may help you pay back all of your debt, but at a lower interest rate. This could help you get out of debt much faster than you could on your own if you were to pay off your debt at the higher interest rates.Credit Card Debt Relief
In some cases debt mediation allows consumers to payoff consumer credit card debt for much less than the full amount owed.Debt mediation may be the right debt relief option for you, but it's important to note that, at first, debt mediation may cause your credit rating to decline. However, once your debts are noted as "paid in full", and you reestablish a clean record of timely payments, your credit could begin to improve.
Professional debt mediation services can help you get out of debt in a relatively short period of time, often 3-5 years, and save you a substantial amount of money. While it can temporarily affect your credit report, it is not likely to have the same long-lasting affect on your credit report as a personal bankruptcy.