How Should I Go About Using a Debt Settlement Service?

When you are looking to use a debt settlement service, there are things that you should do to simplify the process and give you the best results. When your credit and finances are in trouble, it is not enough to say “I’m in debt, fix it.”

That would be like going to a mechanic and telling them that your car doesn’t work. There is simply not enough information for the mechanic to do anything. The more information that you can provide, the better the service can choose a plan that is right for you.

Aurora Lillo Editor of the "Best Debt Relief Programs" website -- -- pointed out;

“…Gather together your debts, monthly expenses, and income sources. This give a good baseline as to where your money goes each month. Perhaps you simply need someone to manage paying your debts for you. You may need more help than that. This information gives them a starting point, a debt ratio (which is your outgoing money, compared to your income). When you provide them this information, it is essential that you are honest about all sources of income and debts and living expenses…”

You should also gather together a list of your assets. Assets are important, because you may be able to use them to get a secured consolidation loan. Your assets may include valuable possessions, home equity, automobiles, or any other tangible property. You will also want to provide a list of any savings or investments. These may be 401k’s, IRAs, or other investments. The service may be able to advise you on how to use those investments to get out of debt, with minimal tax impact.

“…Once you speak to your debt advisor, you will want to make sure that you understand the plan that they set forth. You will need to understand the payment structures and any fees or conditions. Most of all, you should be patient. Follow their advice, and always make sure that they are doing what they state they are doing. Once your debt settlement is in place, make every effort you can to make sure you pay off those debts as quickly as possible…” added A. Lillo.

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