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Debt Consolidation New York

Many cases of bankruptcy are avoidable. It may seem that you have run out of options to finance your debts when actually there are several debt relief programs that can improve your financial position. By discussing your debt situation with your creditor, you can find ways to navigate your tight financial situation. These include debt settlement, payment deferments, and forbearance. Before filing for bankruptcy, it’s advisable to pursue such options.

At UmbrellaDebt, we assist our clients in identifying different debt relief avenues to help them settle debts. Our services aim to benefit people who are looking for debt settlement or debt consolidation in New York, among other relief options.

What You Should Know About Debt Settlement

As a debtor, it’s important to know the following when considering debt settlement:

  • Once you have reached a debt settlement agreement with your creditor, you may be prohibited from getting new credit during your repayment period.
  • When the debt settlement company you’re working with contacts your creditor, there’s a high chance your interest rates will be lowered immediately.

What are the Benefits of Debt Settlement?

The advantages of debt settlement are:

  • Less repayment period – When your creditor agrees to put you on a debt settlement program, it means you will have less to pay in less time compared to the original loan terms.
  • Avoiding bankruptcy – Filing for bankruptcy when you’re unable to pay loans can adversely affect your credit report. While the settlement will have an impact on your credit report, it will be shorter compared to a bankruptcy record that may affect your credit for life.
  • Relief from debt - A debt settlement allows you to pay an amount that you can afford. Usually, a creditor will agree to a settlement after proving you have no other means of meeting the full payment. A good settlement, therefore, provides huge financial relief.

At UmbrellaDebt, we have expert negotiators who contact creditors to try and get affordable debt settlement arrangements for our clients. Our relief program comes with benefits such as reduced debt balances and repayment periods as short as 12-48 months. That said, the agreement depends on unique situations, and we work hard to get the best results for our clients.

Who Should Take a Debt Settlement?

You should consider negotiating for a loan settlement if you have entirely run out of means to repay your debts.

If you have a debt of over $10,000, you might qualify for a settlement. Debt settlement can do away with your debt in 2 to 4 years. Other debt services can take even nine years. Moreover, debt settlement helps you avoid accruing interest over time.

Expert Negotiators at Your Service

Our negotiation team at UmbrellaDebt Consumers Debt Relief has decades of combined experience. We have a deep understanding of all types of debt relief programs. Call us today on 1-844-386-3517 for a free consultation that will allow us to assess your financial situation. We'll let you know what your options with debt negotiation and debt consolidation in New York are.

Debt Consolidation New York
200 W Palmetto Park Road Suite 202, Boca Raton, FL 33432

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