Debt settlement clears way for financial freedom, rather than using debt consolidation

When looking a ways to solve a financial mess, people typically look at two solutions: debt settlement and debt consolidation. The two paths are different ways to begin your journey back to credit-worthiness. Here are some frequently asked questions that will hopefully allow you to make an informed decision about debt settlement versus debt consolidation. These FAQs were provided by iDebtHelp, a debt settlement company.

Debt settlement is better path than debt consolidation to achieving financial freedom

Q. What happens to open accounts placed into the debt settlement program?

A. Any account placed into the debt settlement program is automatically closed for future use. The idea is to stop the cycle of debt spending and eventually eliminate the debt altogether.

Q. Does debt have to be "bad" to be put on the debt settlement program?

A. The debt settlement program works for debt in all stages.

Q. How fast will someone get out of debt?

A. Depending on the monthly payment paid by the client, the debt can be eliminated in as little as a few weeks, or if the client misses payments full debt elimination can take over three years. The client is in control of what they can manage and afford.

Q. How much can the debt settlement program save someone?

A. In some cases as much as 80% of the principle balance can be eliminated, but on average iDebtHelp's clients end up spending approximately 60 cents for every dollar that is owed.

Q. How is iDebtHelp paid?

A. iDebtHelp earns 40% of the amount that is saved by the client through debt settlement negotiations. For example, if iDebtHelp takes $10,000.00 of debt and settles it for $4,000.00, it earns a fee of $2,400.00 The net savings to the client would be $3,600.00. In other words, the client eliminates $10,000.00 of debt by spending only $6,400.00!

Q. What other help do you offer clients to help them permanently escape debt?

A. Included in the Debt Melt Down Program is iDebtHelp's Debt Free Life Membership and Coaching Program. The cost of this service is $50.00 per month, which is deducted from the client's account each month. The goal of this service is to educate and support clients through this difficult period and ensure successful completion of the Debt Melt Down Program.

The service includes scheduled one-on-one financial coaching sessions with a professional Financial Coach, educational materials, a regular newsletter containing valuable information about combating debt problems, and building future wealth, a Health Aid Discount Plan which entitles the client to discounts on various health needs such as pharmaceuticals, dental needs, and vision correction. In addition, the client is included in periodic interactive conference calls conducted by experts and masters in their fields when available. The Debt Free Life Membership and Coaching Program is designed to help the client achieve the goal of a debt free life.

Q. What else can an individual do if this debt settlement program does not work for them?

A. We realize that dealing with debt in an extremely aggressive manner, such as is the case with the Debt Melt Down Program, may not be for everyone. For that reason, we have designed the Money Power Path Program as an alternate method of dealing with debt and other financial anguishes. This program will address your present predicament and a plan designed to help you reach your financial goals and desires. We go the step beyond helping you deal with present financial challenges, we help you envision the future and a life beyond these more difficult financial times.

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Debt Settlement Tip
How fast will someone get out of debt? Depending on the monthly payment paid by the client, the debt can be eliminated in as little as a few weeks, or if the client misses payments full debt elimination can take over three years. The client is in control of what they can manage and afford. .