Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals or corporations. Debt relief involves budgeting, contacting your creditors, debt consolidation, or filing bankruptcy.
If you believe your financial hardship is temporary and are seeking debt relief, then there are options that are available to you. For instance, you can contact your creditors and explain the situation to them.
There is a chance your creditor will agree to temporarily suspend your payment responsibility, due to the fact your account has been in good standing in the past. Of course when you start making payments again they’ll likely be higher to compensate for the past due amount.
Debt relief may be good option until you get back on your feet.
Set up your free consultation below to discuss your options.