Debt Settlement Program: How to get qualified

When consumers need a debt relief program, debt settlement is a real possibility for them. If they meet the criteria for the best candidates for this type of help, they may be able to relieve themselves of their debts in this New Year.

Chicago, IL (prHWY.com) January 5, 2012 - When consumers need a debt relief program, debt settlement is a real possibility for them. If they meet the criteria for the best candidates for this type of help, they may be able to relieve themselves of their debts in this New Year.

Qualifying Criteria

The qualifying criteria are:

1. Be at least 18 years old
2. The qualifying debts must amount to at least $7,500
3. The candidate must be earning an income
4. The candidate must have evidence that a financial hardship has occurred

The Definition of a Hardship

Several things that cause people to need to spend more money than they ordinarily do can qualify as a hardship. Some of these events may be:

1. The birth of a baby
2. The need to care for aging parents
3. Decreased salary
4. Job Loss

Types of Debts that Can Be Settled

People can receive debt relief in the form of debt settlement for all kinds of different debts, including:

Credit Cards - It doesn't matter whether the consumer is still making the minimum payments on the accounts or if the accounts have been referred to a collections agency.
Store Credit Cards - Debt settlement companies may be able to decrease their clients' department store credit card debts by 50 percent or more.
The Unsecured Line of Credit - Those who have fallen into arrears on their signature loans or their unsecured lines of credit may find relief in a reasonable settlement with a debt settlement company.
The Unsecured Personal Loan - Loans that have not been secured by assets can be settled without the consumer having to pay late fees or other penalty costs.
Repossessed Vehicles - Even after a car has been repossessed, debt settlement companies can negotiate with the lender. They can help the borrower and the lender come to an agreement that is more favorable to the borrower.
Unpaid Medical Bills - Whether it is a hospital or a doctor's office, debt settlement can bring these balances down to an amount that their clients can pay.
Unpaid Utility Bills - Debt settlement companies have extensive experience negotiating with electric, cell phone or cable companies.
Specialty Credit Cards - Debt settlement companies can help people reduce their retail store debts.
Defaults on Rent - Debt settlement will negotiate with ex-landlords and help to remove the default from their credit reports.
Judgments - Those who have been sued and owe money can still obtain a reduction in these judgments.

By making a first initial call, consumers can find out if they qualify for debt relief through debt settlement. This first call will be at no cost, and they may be on their way to being debt-free.



Visit us at Hamilton Debt Relief

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Tag Words: debt relief

Categories: Finance

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