http://www.debtdecision.com/debt-management-solution.html Debt management solution is here, waiting for you to read. You might find your ultimate debt management solution here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Don't you wish there was some magic potion to help you get rid of your debt? If only it were that simple. But as you know, it's not. However, it may be easier than you think when you find the right debt management solution. Your Debt Management Solution Awaits When it comes to getting out of debt, bankruptcy is no longer you only option. Now there are a variety of debt management programs to help you out. Here's a brief outline of some of them: Debt Settlement - This debt management solution allows you to pay off your debt at 30-60 cents on the dollar--that is, if you have access to enough cash to do it. Here's how it works: You hire a debt settlement company to negotiate with your creditors and get a new balance that's a fraction of what you owe, then you pay that new amount off all at once. Some creditors will give you anywhere from 1-3 years to pay it off, but that's rare. And debt settlement has the same effect on your credit report as a few late payments do. Debt Consolidation - This is the most popular debt management solution of all, probably because it doesn't require you to have a lot of cash, it doesn't require you to have a house and you don't need collateral. When you enroll in a debt consolidation program, a debt consolidation expert contacts your creditors to get your unsecured debt balances and interest rates lowered. Then the new, lower balances are combined and you make one monthly payment to the debt consolidation company, which they distribute among your creditors. Because of the reductions, you can become debt free in about five years. Debt Consolidation Loan - This is a low-interest loan given to you to pay off your unsecured debts immediately. Then you make one monthly loan payment to the lender instead of several monthly payments to your creditors. Because the interest rate is so low, you can have it paid off in about five years. However, you have to have collateral to get a debt consolidation loan in case of default. Debt Consolidation Mortgage - This is a debt management solution that allows you to borrow from the equity in your house to pay off your unsecured debts. Your payment is combined with your mortgage, and you get the same interest rate as your mortgage. In some cases, the interest is even tax-deductible (check with your tax advisor to see if this will work for your tax situation). Student Loan Debt Consolidation - Most federal student loans have a variable interest rate. But student loan debt consolidation combines all of your federal student loans into one and locks in a much, much lower interest rate for you and cuts your monthly student loan payment nearly in half. However, the fixed rate option will be a thing of the past as of July 1, 2005, so if you're interested, act quickly! If you think one of these debt management solutions is right for you, start searching for a debt management company on our Related Resources page. You just might find a debt management program that will unlock the door to your financial freedom. Sat, 26 Jul 2008 15:00:00 EDT