Debt Settlement Programs - How Stimulus Money Makes Consumer Debt Settlements More Attractive

Jan. 26, 2010 - PRLog -- Debt relief is widely available if you are a consumer who is in debt for at least $10,000. Obama's stimulus plan put billions of dollars into our economy half of which has yet to be spent. The money that has been spent was given mostly to large financial institutions where the majority of consumer credit is originated. Federal stimulus money can now be used to help consumers eliminate debt in the form of a debt settlement process. Debt settlement programs have never been so favorable for Americans with over k in unsecured debt.

Major creditors are currently using this stimulus money to offset their losses they take through debt settlements. Creditors already are preparing to lose a lot of money due to lack of repayment so they are willing to make deals. Creditors also are more flexible with debt settlements mainly due to stimulus money.

Another major factor why debt settlements are currently so popular is that the majority of creditors are down right scared that they won't ever recoup some of their lent money. Creditors are willing to make debt settlement deals in this market. Creditors realize they would rather accept partial payment then none at all.

If you are at least $10,000 in debt it would behoove you to talk with a debt settlement company who can eliminate 50% of your unsecured debt on average. The best services will actually be able to eliminate 70%. Finding an experienced debt relief company will go a long way in getting a favorable debt settlement.

If you need debt help then there is one thing that every consumer needs to know. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. Debt relief networks only accept debt settlement companies that can prove a track record of successfully negotiating debt settlement deals. They also have to uphold high ethical standards and not have any pending cases with any former clients.

Debt relief networks are the best way for consumers to find legitimate debt settlement companies in their state and avoid potential scammers. Using this method is the most efficient way to locate legitimate debt relief companies in your state.

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