For people who are drowning in debt, dodging phone calls from creditors, its easy to feel trapped.
The truth is, many Americans are in the same predicament.
But there are ways out.
Kerry Smith had $81,000 before reaching out to Accredited Debt Relief for help. The company is working with him on a debt-settlement plan and has been negotiating his credit card balances down by 50%. Photo courtesy of Kerry Smith
Take Kerry Smith, for instance.
He was a Green Beret who did four combat tours in Iraq and four more in Afghanistan.
He fought terrorists and insurgents, dodged grenades and roadside bombs.
But he got overwhelmed with $84,000 worth of debt from deals that went south.
Looking for help, he found a debt-resolution company calledAccredited Debt Relief.
Hes floored by how much difference its making.
Now, hes paying $700lessper month on his debts.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Theyll explain all the options and spell out a strategy forlowering your paymentsand maximizing savings.
This program is all about setting people up for future success.
Thats why itll have you open a savings account in your name that youll control.
Thats where youll send monthly deposits thatll go toward paying off your debts.
Youll also need to stop using credit cards or drawing on that line of credit.
This will help the negotiators build your case.
Thats how they save people money.
Once you approve the deal, youll pay the settlement out of your savings account.
He bought and started remodeling a duplex in Olympia, Washington.
Then his dad got sick, and the family moved to North Carolina to take care of him full-time.
I started missing payments, and then it was a massive snowball, he says.
It was just a maelstrom of different things in my life.
In retrospect, he would have done things differently.
But hindsight is 20/20.
Thats how I got into this spot, he says.
It wasnt that we were out buying Gucci or designer threads or anything like that.
I was just trying to do right by my family.
The company charges for its services.
Still, its worth it for Smith and his family and is a huge relief.
We havent been getting any more phone calls from creditors which is nice.
The idea is to help people out of debt without declaring bankruptcy.
Curious if it could help you?
It takes less than a minute tosign up for a free initial consultation.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
