http://www.primedebtmanagement.com/debt-relief/n43.html A debt relief program can be your key to debt freedom. We've got an overview of each debt relief program here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Looking for a debt relief program? You have a lot of options! Learn more about how debt relief companies can help. Lots of Debt Relief Programs to Choose From That's right--bankruptcy is no longer your only option when it comes to getting debt relief. There are lots of debt relief programs out there these days, and one is sure to be right for you. Here's a brief explanation of each one: Debt Consolidation - This is a debt relief program through which a debt consolidation company contacts your creditors to get your balances reduced through fees removal and interest rate reduction. Then they combine all the new balances and you pay the debt consolidation company one payment each month, which the debt consolidation company distributes to your creditors. Aa a result, your debt is paid off in five years. Debt Consolidation Loan - A debt consolidation loan doesn't get you any reductions like debt consolidation does. It's just a loan given to you to pay off your unsecured debts all at once, leaving you with a loan payment instead. However, the interest rate on the loan is so low that you can be out of debt in five years! But you should know that you have to have collateral to get a debt consolidation loan. Debt Consolidation Mortgage - If you're a homeowner and you have a lot of debt, this is the best debt relief program you can get, hands down. Through this kind of problem, you get a loan from your mortgage company to pay off all your unsecured debt, then that amount is added to your mortgage. You end up paying off all your credit card debt at the same interest rate as your mortgage, which these days is pretty low. Be aware--your mortgage payment will go up, but not much. Debt Settlement - Through debt settlement, a debt settlement company contacts all your creditors to get your balances reduced by 60-80%. If your creditors agree to this, they will want their money right away. And they'll report it to the credit reporting agenciesm which will have a negative effect on your credit similar to the way a late payment effects it. Student Loan Debt Consolidation - This combines all of your student loans into one, gives them one low interest rate and lowers your monthly payments by as much as 50% (because they stretch them out over a longer period of time). If you think one of these programs is right for you, contact a debt relief company right away! The sooner you do, the sooner you'll get out of debt. Sat, 26 Jul 2008 15:00:00 EDT