Epic Debt Relief is a debt settlement company. We do not do credit counseling, so this article is simply designed to provide information so that consumers can make informed decisions about their debt settlement and debt negotiation options. There are a variety of things to consider when it comes to the debt settlement versus credit counseling debate. The situation is different for everyone, and it will be up to you to determine.
First, what can you afford? If you’re really desperate and don’t have every last dollar, debt settlement will usually be the most affordable solution. However, if you are looking to learn about money management and get help lowering interest rates, and you can afford credit counseling, it will be a better alternative. Credit counseling is more expensive and debt negotiation is generally much faster and less fee oriented. However, this is not the only thing to consider. You should also consider other factors, such as:
-What credit impact are you looking for? No one wants a negative credit hit, but credit counseling and debt relief will show up on your credit report. Credit counseling usually seems less serious, but avoiding both is the best way to avoid the negative impact on your credit.
What companies do you owe money to? Some people will save more money with debt settlement, but it depends on who you owe money to. For example, companies like Capital One are more aggressive and more likely to take legal action and aren’t as willing to settle for less than they owe. You can use debt negotiation to get rid of aggressive debt, but it’s a risk you’ll take. Keep in mind that many companies won’t work with credit counseling services either, so check with your creditors before digging a hole.
-What kind of person are you? Are you strong enough to handle the complicated and often messy world of debt settlement or credit counseling? This whole process is not for those who are faint of heart. You need to be able to accept higher payments, deals that don’t work out, credit calls, and other things that could go wrong. If you don’t feel like you can handle this, you may want to consider other alternatives.
These concepts are all things to think about to make the best decision when it comes to choosing between debt settlement, credit counseling, bankruptcy, or none of the above. Many people think that bankruptcy is the easy and simple solution, but it is often more expensive and troublesome than it is worth. Likewise, credit counseling and debt settlement aren’t always the perfect solutions for your needs, so make sure you find what works for YOU, regardless of what others say or think.
With so many different variables to consider, you should take the time to discover all the important things to consider before choosing between debt settlement with Epic Debt Relief services and credit counseling. If you need affordable solutions to get out of debt for good, debt settlement might be the best route. It may not pay off all your debts and it will leave a negative stigma on your credit in the eyes of lenders, but it is much better than doing nothing. The best option you have, of course, is to discuss your options with a consultant to make sure you get exactly what you need when it comes to debt settlement and negotiation.