Debt Solutions - Pick the best one to keep debts under control -OVLG

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Debt solutions make your life easier by solving complex financial problems within a few months. The best solutions are the ones, which help you reduce collection calls, pacify creditors, save your money and time.

How to choose best solutions

Debt solutions – For whom and why

Debt Settlement (DSP) – A solution wherein you pay less on principal and save more.

Those who

Are in credit card debt
Are getting collection calls
Have payday loans and medical debts
Have private student loans
Are planning to file bankruptcy
Want to get rid of bills fast
Want to save on principal
Don't want to pay late fees

Why

Debt settlement pays off unsecured debts
DSP reduces collection calls
Companies negotiate to reduce principal
Usually, DSP takes 2-3 years to complete
DSP can help to settle debts within 2-3 months if you’re lucky
DSP eliminates late fees and penalties

Effect on credit - Initially, it hurts your credit. But, later you can rebuild it. All you need to do is use the right strategies.

Verdict - Best debt solution for those who want a 'quick release' from their financial obligations

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Debt Consolidation – A solution wherein multiple payments are replaced by a single bill.

Those who

Have credit card debt and student loans
Want to have one payment every month
Can't manage multiple bills
Have private student loans
Need to pay off utility and cell phone bills
Have pending apartment leases
Want to have fewer collection calls

Why

Debt consolidation caters to unsecured debts
It can help you to take care of federal student loans
It gives you one affordable monthly payment plan
Consolidators deal with your collection calls

Effect on credit - It won't make a negative impact on your credit score.

Verdict - Best debt solution for those who are not pro at multitasking

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Debt Management (DMP) – A solution wherein you make a single payment each month and save on interest rate.

Those who

Can follow a budget
Have credit card debt and pdls
Have personal loans and medical bills
Want to save on interest rates
Are tired of dealing with collection calls

Why

Credit counseling agencies (offering debt management plans) will create a budget for you.
A DMP can solve all unsecured debt issues.
Credit counselors will negotiate and slash interest rates.
They'll take care of your collection calls.

Effect on credit - It doesn't hurt your credit.

Verdict - Best debt solution for those who can follow a budget

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Bankruptcy – A legal debt solution where bankruptcy court negotiates with your creditors on your behalf.

Those who

Want to stop collection calls
Are well acquainted with bankruptcy laws
Can pay bankruptcy fees
Can qualify for means test

Why

Automatic stay is imposed on collection calls
Bankruptcy court discharges debts as per the laws
Need to pay attorney and court fees
Need to prove you can't pay back creditors

Effect on credit - Disastrous. It'll drop your credit score by more than 200 points.

Verdict - Best debt solution for those who are ready to risk their credit score

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How to select a company that offers the best debt solution

You've to be extremely conscious when selecting a debt relief company. Remember, a company can offer lots of solutions. But, this doesn't necessarily prove that it's the best company.

A good debt solution company will typically give you:

Breakdown of fee structure and cost
An estimate of how much you can potentially save
An idea about how long you need to make payments
An idea about the possible results and risks

Steps to take before going for debt solutions

1
Look at the fees and costs:

Check out the FTC rules to know how much you should pay for fees and associated costs.

2
Check out your tax obligations:

Forgiven debt is taxable. Before choosing any debt solution service, make sure you talk with a tax professional.

3
Read the FTC guidelines:

Clear your misconceptions to know about the good debt solution services and avoid scams.

Still don't know which debt solution is best for you?
Call us at (800) 530-OVLG
to get FREE reviews on debt solutions

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Answers

After I complete the program with OVLG to dissolve my debt with Cash Net USA will I continue to be harassed by them?