How National Debt Relief works
National Debt Relief is a debt settlement company that has offered debt relief and financial freedom to hundreds of customers. By reducing the balance and payments of its clients, National Debt Relief has helped borrowers struggling with making payments to pay off their debt and start a new financial future.
With a holistic approach to debt relief and financial management, National Debt Relief’s team can help you pay off your balance and set yourself up for financial success once you’ve paid off your debt.
If you have unsecured debt and feel that you’ll never be able to pay off your debt in your timeline or can’t make your monthly payments, National Debt Relief may be the company for you.
What is debt relief?
Debt relief can refer to several things, including consolidation, forgiveness or bankruptcy. In National Debt Relief’s case, clients get their debt relieved through a process known as debt settlement.
With debt settlement, a settlement agency like National Debt Relief will negotiate with your lenders and encourage them to forgive part of your debt balance in exchange for payment on the remaining portion of debt.
During this time, the debt balance will typically go to collections. No payments are made on the balance, which allows the settlement company to negotiate with the collections agency that purchased the debt.
Once the balance has been negotiated down, the settlement agency will facilitate monthly payments from you to the lender. The agency will create a repayment plan with a new timeline and payment amount – typically one that’s lower than the original repayment amount.
Debt settlement differs from other forms of debt relief in what and how you pay. While debt consolidation will simplify your payments by grouping your debts into one loan, your overall balance doesn’t change. While forgiveness does reduce your balance, it often comes with specific requirements, such as working in public service or applying only for student debt.
Bankruptcy, while an option for some, can result in your personal assets – such as your house and car – being seized by creditors.
Debt relief, on the other hand, can apply to a wider range of unsecured debt, and doesn’t have to involve losing your home or other belongings. Your credit score can take a hit, but it can be rebuilt after the balance has been paid off.
While debt relief isn’t the right option for everyone, it can be a way to break the cycle of debt repayments and give yourself a fresh start from an overwhelming balance that you’re struggling to pay off.
What National Debt Relief does
National Debt Relief helps its clients by reducing their debt balances, allowing them to pay off large amounts of debt within their means in a reasonable timeline.
National Debt Relief is rated A+ by the Better Business Bureau with over 70,000 5-star client reviews. It has helped over half a million borrowers pay off their debt, reducing balances by as much as 50 percent of what was originally owed – and with repayment timelines at an average of 24 to 48 months.
Each National Debt Relief client has their case individually evaluated by a certified debt relief specialist, with their individual circumstances, financial goals and repayment ability taken into account when building a repayment plan.
National Debt Relief doesn’t just focus on the numbers of debt relief and repayment. Using a framework of Whole Human Finance, National Debt Relief’s team understands that being in debt doesn’t make you a bad person or irresponsible with money. A lost job, a financial emergency and other factors outside your control can result in you being in debt.
With the Whole Human Finance approach, the National Debt Relief team empowers you to tackle your debt from a holistic point of view, with both finances and mental health in mind. Generational debt cycles, guilt around being in debt and spending money and the mental toll of being in debt can all contribute to your attitudes around your finances and how you got into debt.
National Debt Relief helps connect you to resources that can help you manage your finances and mental health during the debt repayment process. With friendliness and compassion, your National Debt Relief specialist enables you to pay off your debt, address the situation and circumstances that resulted in your debt and put you on a path toward financial success – both during and after the repayment process.
How National Debt Relief works
The first step to working with National Debt Relief is the consultation process, which can be completed over the phone or online. In this free and commitment-free process, a representative will work with you to determine your eligibility for the debt relief program. You’ll be asked questions about the type and size of your debt, how you got into debt, your income and your general financial situation.
National Debt Relief requires that you have at least $7,500 in unsecured debt, and that your income cannot support the required payments or pay off the balance in a reasonable timeline. If you owe less than that or otherwise don’t meet any of the other criteria, National Debt Relief can refer you to an outside program that may be able to help you.
Once you’re qualified for the debt relief program, you’re paired with a National Debt Relief-certified debt specialist who will closely evaluate your income, your debts, your expenses and your overall ability to repay. Using this information, the team at National Debt Relief can negotiate with your creditors to reduce your balance and set up a repayment plan within your means.
During the process, you’ll stop making payments directly to your lender. Instead, you’ll make payments into a dedicated escrow account set up by National Debt Relief in your name. These funds will be used to pay off your debt once the lender agrees to reduce your balance, alongside any further payments you make into the account.
By doing this, National Debt Relief enables you to pay off your debt with a clear and close timeline, reducing your repayment time from decades to months or years. Each monthly payment will stay the same, and your fees – which are only charged after National Debt Relief has settled your balance – are rolled into your payments, allowing you to start with a clean slate once your debt is paid off.
National Debt Relief doesn’t stop helping you after you graduate from the program. National Debt Relief’s team will look at the financial goals you’ve set for yourself and connect you to further resources to help you achieve them after the fact, such as connecting you with a credit repair company to help boost your credit score.
Debt relief that works for you
National Debt Relief meets you where you are, instead of where your debt demands you to be.
By reducing your debt balance through settlement, the National Debt Relief team allows you to pay off debt on your own terms without having to struggle with your payments.
If you’ve lost your job, or are relying on reduced income, then National Debt Relief’s team can help you build a payment plan that you can afford – debt repayments, budgetary essentials, extras and all.
National Debt Relief’s team also takes over communication with your lenders and collectors. If you’ve been getting endless phone calls from creditors about your payments, National Debt Relief can handle it – freeing up your focus for things other than your debt.
The team at National Debt Relief goes beyond helping you pay off your debt. One client, for example, mentioned that she wanted to travel when her debt was paid off.
The team at National Debt Relief made sure to help the client get on a credit repair plan once her balance was paid so she could qualify for a credit card – an essential to renting a car or booking a hotel.
What next?
If you’re struggling with debt repayments, or are paying down debt with no seeming end in sight, then National Debt Relief might be for you.
With a dedicated team of certified debt specialists who can work on your case individually with your financial goals in mind, and a solid track record of helping thousands of borrowers pay off their debt, National Debt Relief can help you pay off your unsecured debt and get a fresh financial start.
If you want to learn more about managing your finances, your mental health and your debt repayment plan, check out Bankrate and National Debt Relief’s ongoing article series about all things debt. Watch this space for tips, tricks and exclusive stories from readers like you and their debt repayment journeys.
