Debt Elimination Services

Debt Elimination Services, LLC is a Connecticut based company specializing in debt elimination and debt management.
 

   
They will initially give you a quick analysis over the phone and then make an appointment for you to come in and talk to them. They do not cold call clients, and they do make instant promises without a thorough review of your financial situation.

How they work

Debt Elimination Services teach their clients about their rights as consumers because some credit card companies will try and persuade people to spend money they do not have, and sometimes their practices fall short of the law. Debt Elimination Services will check your commitments for their legality and, in some cases, the creditor company has to write them off. The initial consultation is free, but there is a fee thereafter, which is worked out based upon what level of debt is owed. They also realize that most clients cannot pay a fee all at once, so they offer an arrangement to pay it over a period of time. They will initially look at your debts with a view to challenging any that may not be legal. Circumstances where this could be the case are in unsolicited increases in credit limits, paperwork not signed properly, even inaccurate calculations of money owed, based upon misquoted APR figures. They are then going to try and negotiate settlements with credit card and loan companies. Where there is the chance of receiving money now, or money for a long period of time that devalues the longer you pay, many companies will accept a settlement of less than the original debt.

Alternatives and what you need to consider

The serious alternative to any debt management plan or using a company such as Debt Elimination Services; is bankruptcy. For some this is the only alternative, but it will mean that credit in the future and the ability to be a company director are seriously curtailed, and there is the stigma of bankruptcy to consider. Intermediate options are debt management plans whereby you pay your debt off over a long period of time, at a rate you can afford. You could also consider debt consolidation whereby you take out one secured loan at a lower rate to pay off all the debts. The loan is usually secured against an asset such as your house, which obviously carries a significant risk, so it should be considered carefully. All of the options available need to be thought through carefully, and with an initial consultation that is free, it is worth talking it over with the people at Debt Elimination Services to see what they suggest.


  

Source: Credit Cards For People With Bad Credit Rating


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