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These simple (but effective) strategies could help you significantly shorten the debt relief timeline.
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Credit card debt has become a major issue for millions of Americans over the last few years — and with inflation ticking back up, the prices of everything from groceries to gas are climbing, pushing people’s budgets to the limit. In turn, even more cardholders are becoming reliant on these short-term, high-rate borrowing options to cover their necessary expenses. That’s not the greatest plan, though, considering…
With do-it-yourself debt settlement, you negotiate directly with your creditors in an effort to settle your debt for less than you originally owed.
This strategy works best for debts that are already delinquent, or not paid by their due date. That’s because as creditors start to see missed payments stack up, they may be more open to a settlement offer, since partial payment is better than no payment at all.
Here’s how DIY debt settlement compares to using a debt settlement company and how to successfully negotiate with a creditor on your own.
Our Debt Relief Partners
Freedom Debt ReliefNerdwallet partners with Freedom Debt Relief to provide customers with over $7,500 in unsecured debt with settlement options to reduce credit card debt,…
* Moody’s Investors Service (2023), accessed August 2024.
Important information
The opinions expressed are those of the author(s), are as of the date indicated and may change based on market and other conditions. The accuracy of the content and its relevance to your client’s particular circumstances is not guaranteed.
This market commentary has been prepared for general informational purposes by the team, who are part of Macquarie Asset Management (MAM), the asset management business of Macquarie Group (Macquarie), and is not a product of the Macquarie Research Department. This market commentary reflects the views of the team and statements in it may differ from the views of others in MAM or of other Macquarie…
One mom’s stance on her son’s sky-high credit card bill has generated great interest.
The mom, whose identity is unknown, set off fierce debate on the Reddit community after refusing to bail her 20-year-old son out of $15,000 in credit card debt.
She said her son has a decent job but has accumulated his debt through excessive spending on designer clothing, dining out and weekend getaways.
Despite the high-rolling lifestyle choices, the son has reached out to his mom for help, and not for the first time, she said, adding her son has previously brought smaller financial issues to her to solve.
Per a people.com report, the mom said she previously covered her son’s rent and handled…
A cruise liner passenger who plunged to his death from the ship had racked up a $4,000 casino debt after being lured to spend big by the company’s ‘high roller’ incentives, his family claims.
Shane Dixon, 45, died after falling overboard while sailing on the P&O cruise ship Pacific Adventure just after 4am on May 6 as it approached Sydney Harbour.
The father-of-three, from Campbelltown in Sydney’s west, had been on the three-day Elvis-themed cruise with his mother Sue Dixon, 66, who had saved up to book the trip as a holiday for the pair.
His family claim he fell victim to rogue practices used by cruise companies to incentivise gambling under ‘international waters’ guidelines – which would be considered illegal in Australia.
Shame makes people turn inwards, beat themselves up, and stops them seeking help.
And this is a problem. Especially when it comes to debt. Because it means the situation gets worse.
Monday 24 March marks the start of Debt Awareness Week, run by StepChange. It aims to raise awareness and understanding of the stigma around debt and help people take the first step to getting…
A debt management plan can be helpful when you’re struggling with high-rate debt, but it may not always work over the long term.
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Dealing with mounting debt issues can be difficult to do on your own, especially if you’ve racked up a hefty amount of credit card debt at today’s high rates. When these issues arise, certain debt relief options, like debt management plans, can seem like the perfect solution to regain financial stability. These plans, which are typically offered by credit counseling agencies, help consolidate…
