Who Is Debtmerica And How Can They Benefit You
Recently I use to work in financial services and people have been asking me what kind of options do they have when it comes to getting out of debt? That’s when I mention Debtmerica. In this post I am going to explain who Debtmerica is and how they can help you get out of debt once and for all.
Who Is Debtmerica
There are lots of companies that help people get out of debt but Debtmerica is different, they are a debt negotiation company that specializes in helping people cut down the amount of debt they owe and help them pay back what is left.
They do this by calling all of your creditors for you and negotiating a deal for you. For example you might have a credit card with $2,000 of debt on it and Debtmerica will negotiate a deal for you to pay back 40 cents on the dollar cutting 60% off of your shoulders.
Doing this will speed up the process. On top of that they will also combine all of your payments into one lump sum payment so all you will have to do is pay one check to them every month instead of keeping track of 20 different debts. They do all the work for you.
How To Qualify
To qualify all you need is $10,000 of unsecured debt. This would include any of the following.
- Unsecured Credit Cards
- Personal Loans
- Credit Unions
- Medical Bills
- Deficiency Balances
- Collection Accounts
- Past Due Bills
Now that we know what debts qualify here is a few that don’t.
- Auto Loans
- Payday loans
- Military Accounts
- Public Utility
- Student Loans
- Loans with collateral attached ( ex. mortgage)
The Down Side
With everything I’ve discussed so far there is one negative with doing debt negotiation. Doing debt negotiation is kind of like doing a mini bankruptcy. Your credit score will go down for a little bit if it hasn’t already but it doesn’t have the lasting effect like a bankruptcy.
In a normal bankruptcy you would file and still have to pay back most of the debt as in a chapter 13 bankruptcy and the scare would last on your record from anywhere between seven to ten years.
With Debtmerica you’ll have bad credit for a while but eventually it will go back up and you’ll avoid the scare of bankruptcy landing on your credit history.
Benefits You Will Gain
- Avoid bankruptcy. The first thing you will gain is not going through the mental and costly emotions of bankruptcy. Things will be tough for a while but eventually you’ll come through.
- They work with you not against you. Debtmerica has a team of people working with you side by side helping you pay off your debt. Bankruptcy lawyers only want more people in bankruptcy so they can profit thus not helping you at all.
- Gets you debt free faster. With most programs it takes several years to get out of debt. With this company most people are out of debt within two to three years average.
In Closing…
If you’re drowning in debt and think bankruptcy is your only option you may want to look into debt negotiation with Debtmerica. You can sign up or just get a quote to see how things work out for you. Either way it’s another option so give it a shot and see what happen you might surprise yourself.
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