Paying off all your outstanding bills can bring in a huge relief.
Debt Relief - Get rid of your debts to live a stress free life
Created By: Stacy B Miller (Abbie) On 4th Apr,16
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Debt Relief - Get rid of your debts to live a stress free life

Paying off all your outstanding bills can bring in a huge relief. If you find it difficult to pay your debts on your own, debt relief options can come to your rescue.

It's difficult to compare the available debt relief options, as each option is unique. While some debt relief programs are tardy and require taking out a loan, some are very aggressive and specifically designed for consumers with serious financial crisis. If you are getting help of a debt relief plan, you should first know what options are there and the most suitable one for your condition.

What are the different debt relief options available?

Below are the 5 different debt relief options available to help you with your overwhelming debt burdens.

  1. Budget and Bill Pay: In this debt relief option, you pay more than the minimum on those accounts that carry higher interest rates in order to resolve those accounts fast. However, this option works best if your debt is under control.
  2. Debt management: In this debt relief plan, your financial situation is assessed and your interest rates are lowered through successful negotiations so that you can pay off your bills affordably.
  3. Debt settlement: Debt settlement can be beneficial amongst different options if you cannot pay off your debts in full. In this debt relief assistance program, your total outstanding debt balance is reduced through negotiation, and the creditors accept that amount as full payment.
  4. Debt consolidation: Debt consolidation is a unique debt relief plan where your multiple high interest unsecured debts are consolidated into a single affordable monthly payment.
  5. Bankruptcy: The last debt relief option is bankruptcy. In bankruptcy, either your non-exempt assets are liquidated or your debts are restructured in order to satisfy your creditors. Personal bankruptcy can be filed under either Chapter 7 or Chapter 13 of the Federal Bankruptcy Code.

How to compare the debt relief options

If you're buried under massive consumer debt, you certainly need expert guidance and proper assistance from a reputed debt relief company. However, it's really difficult to know the best option for your condition as all debt relief programs include a lot of budgeting and calculations. Moreover, each program has different strategies and consequences. OVLG can help you determine the most suitable option for your situation. Compare different debt relief options and know the tax consequences, effect on credit score and how much you'll be able to save though each program.

What are the benefits of debt relief programs?

There are some obvious benefits of debt relief programs. Read below to know them.

  1. Reduction in the stress level & prolonged sleeps that vanished during financial crisis.
  2. Staying on top of your finances by successfully paying off your bills.
  3. Almost ZERO collection calls or harassment from creditors or Collection Agencies.
  4. Achievement of good credit score by paying off your debts on time.

If you are already far behind your payments or struggling to make even the minimum monthly payments, you should immediately seek debt relief assistance. Once you get enrolled with us, you'll undergo a debt relief counseling & free financial analysis so that you can choose the right debt relief plan for you and be debt free. can choose the right debt relief plan for you and be debt free.

How much can you save?
Monthly payment you can afford

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  • The debt settlement program typically lasts between 6 months to 4 years time.
  • At least 30% of the debt amount per creditor needs to be accumulated in the trust account for OVLG to give the creditor any settlement offer.
  • Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector.
  • Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.
  • That the use of the debt-relief service will likely adversely affect the consumer's creditworthiness, may result in consumers being sued by their creditors, and may increase the amount owed to creditors as a result of the accrual of additional fees and interest.
  • Savings a customer realizes from use of a debt-relief service may be taxable income.
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