Debt Relief Options - Should You Consolidate Debt Or Get A Debt Settlement?

Sept. 17, 2009 - PRLog -- The world of personal finance has become so fast and so intense that there is no scope for even a single false decision. You are competing with millions of other individuals who are also trying to secure their financial future. If you make mistakes as far finances are concerned, you will discover that you lag behind in the race for financial independence. Management of debt is very important to enjoy financial stability. There are various debt relief options that one can choose from. However, choosing the right option from the numerous debt relief options is very important.

The confusion of whether one should not opt for consolidation or debt settlement is a perennial one. There are merits in both approaches. However, the final decision is not as difficult as it is when comparing debt settlement with bankruptcy. Opting for debt consolidation out of the many debt relief options available today for a person under severe burden of debt is like a applying a bandage to a broken leg. Debt settlement is an option that is recommended for those who owe more than ten thousand dollars to their credit card issuers. It is also recommended for those who are were not paid even a single cent to their credit card issuers in the past six months. The combination of these two factors is enough to indicate that debt settlement is an option suitable for those who are on the brink of bankruptcy.

If you are at the brink of bankruptcy, adopting a trial and error method with debt relief options can be very dangerous. The Federal government's effort to revive the economy with the stimulus package has increased optimism amongst creditors with regard to debt settlement. If you choose the wrong option, you will not be a position to enjoy the benefits of the stimulus package. Proper analysis of all the debt relief options indicates that the current scenario is suitable for debt settlement. If your creditors do not allow settlement, then you can always go in for a debt consolidation. It is best to place debt settlement as your first line of defense. Use debt consolidation as the first amongst numerous other debt relief options.

If you want to find the top performing debt settlement companies then here's some very important advice. Do Not go directly to a particular debt settlement company but instead go to a debt relief network that is affiliated with several established debt settlement companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company.

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FreeDebtSettlementSolutions.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementSolutions.com check out the following link:

http://www.freedebtsettlementsolutions.com