Consumer credit counseling is a great option for people with high debt and adequate income who need a hand organizing their finances, but debt settlement may be the answer for people who need more help than just reducing APRs and organizing payments.
Washington, DC (PRWEB) September 15, 2009
Janet Stevens CEO of New Day Debt Relief, an award-winning debt settlement company, is alerting consumers about a recent report revealing that at least one third of people looking for credit counseling assistance could not afford to repay their credit card debt through a debt management plan. A calculator can be found at: http://newdaydebtrelief.org/calculator.php.
"If over 30 percent of people turning to credit counseling are turned away, this confirms what experts in our industry already knew - that there is a large number of consumers who are simply unable to repay all of their debts, but are trying their best to avoid bankruptcy," said Stevens.
Stevens explained that many people need more assistance than the reduced interest rates and payment organization that debt management plans provide. She mentioned that debt settlement is and excellent alternative to Debt consolidation loans for those who have been declined for debt or credit card consolidation loans. She said debt settlement is an alternative for people who want to avoid bankruptcy but can only afford to partially repay their debts.
The National Foundation for Credit Counseling acknowledges they cannot help about one third of people who seek their services, which is nearly one million consumers in 2008 alone. These people are typically referred to bankruptcy, even though debt settlement may help them avoid bankruptcy.
Stevens and other New Day executives are not shocked by the statistics and claim that the economic downturn is revealing credit counseling limitations.
"More and more people are turning to debt settlement because, unlike credit counseling, debt settlement helps consumers pay off debts for less than they owe in consideration of their inability to fully repay their debts," said Fewster. "Consumer credit counseling is a great option for people with high debt and adequate income who need a hand organizing their finances, but debt settlement may be the answer for people who need more help than just reducing APRs and organizing payments."
Debt settlement is an option that lets consumers struggling with hardships repay less than they owe to satisfy their financial obligations. To learn more about debt settlement, call 1-888-762-0227 or visit http://www.newdaydebtrelief.org.
About New Day Debt Relief, Inc.,
New Day Debt Relief, Inc., is a debt settlement company dedicated to helping consumers resolve their unsecured debt through mutually agreeable and discounted lump sum settlements in consideration of legitimate financial hardships. By helping consumers avoid bankruptcy, New Day provides a service for both debtors and creditors. For more information about New Day, call 1-888-762-0227 or visit the website at http://www.newdaydebtrelief.org.
New Day Debt Relief
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