Many people wonder which the best legitimate debt relief option out of credit counselling and debt negotiation is for the year 2011. Both are very easy ways out of unsecured debt. However when it comes to settling debt one option is giving out only advice while the other gives a practical help.
Credit counselling and debt negotiation programs are legal and in accordance with local regulations. Counselling programs give out advice literally. They have a set of lawyers who are experts on money matters. They would explain how to increase earning and how to pay off every single debt to the customers.
But negotiation companies can operate within a wide base as they can literally grasp the core of the problem and deal with it. For their clients they can negotiate with the banks and ask for a reduction of debts. If a person with a lot of unsecured debts reaches the company, first of all it would take account of all his liabilities. Then after the negotiations they would be able to get a discount within 50-70 percent from the total debt. On behalf of the customer they would pay off the debt to the bank if the deadline is near.
The customer can continue paying the company instead the bank via smaller installments. They also offer affordable payment packages which can be paid via a longer time. It is a very profitable and an advantageous way of clearing debts for the customers.
Therefore negotiation programs seem to be the better option for clearing unsecured debt.
Debt settlement is a legitimate way to avoid bankruptcy. There are also other debt relief options available such as credit counseling and debt consolidation which is why it would be wise to speak with a debt relief specialist for a free consultation. Click the link below to speak with a debt relief specialist that will go over all the available debt relief options: Free Debt Advice