Debt Relief Services
Debt Relief Services
American Financial Services has the all solutions for consumers buried in debt. For consumers in need of debt consolidation, our debt reduction services can help manage the debt more effectively to quicken the payment process.
Whether looking to pay off student loans, medical and insurance bills, or credit card balances, our debt consolidation services are specifically crafted to lessen the financial burden consumers face when having to deal with crippling debt.
Debt Consolidation Services Suited for Your Needs
American Financial Services has the all solutions for consumers buried in debt. For consumers in need of debt consolidation, our debt reduction services can help manage the debt more effectively to quicken the payment process.
Whether looking to pay off student loans, medical and insurance bills, or credit card balances, our debt consolidation services are specifically crafted to lessen the financial burden consumers face when having to deal with crippling debt.
With numerous debt settlement situations varying between individuals, what works for one consumer may not be best suited for the other. Knowing every individual's debt situation is different, our debt consolidation methods are individualized based on the person's debt and the interest rate they're being charged.
By utilizing our debt consolidation services, our clients are able to identify solutions to any debt management issue to help gain financial independence with a plan to significantly reduce or eliminate all debt.
Before determining the best way to tackle your debt, make sure to consult with our debt consolidation advisors on the best method for your individual needs.
Understanding Your Debt
Before delving into the type of debt reduction services you'll need, it's important to first understand how your debt accumulated before being able to reduce and eliminate it altogether.
As credit card bills pile up and creditors ramp up their collection efforts, simply ignoring your debt and letting it accumulate is not the answer.
Backed by proven debt reduction services, our debt relief experts can work with any individual to achieve a life without debt. In order to achieve a debt-free life, individuals must first learn the basics of their debt:
- Understand your Debt: By informing individuals of all the debt they're facing - clients can better understand the financial obligations and the most important debts to pay off first. Our counseling services also help clients learn how previous financial decisions led to extreme debt to help prevent reoccurring mistakes regarding amassing debt.
- Tackle Debt: Once clients are informed and understanding of the decisions that led to debt, we can then begin to formulate a process for debt relief. To tackle debt efficiently, our debt relief experts can help identify the best methods for a variety of debt situations.
Part of the process of understanding and tackling debt is learning the various types of debt and how the financial burdens associated with each debt works. The common types of consumer debt include:
- Student Loans: As student loan debt has been growing by the year, the amount owed is causing millions to frantically search for debt solutions. Unfortunately, these debts cannot be forgiven or eliminated due to their lack of statute of limitations on repayments. With interest always accruing on unpaid student loans, paying off these debts often gets high priority.
- Medical Bills: Unexpected illnesses can have drastic consequences on any financial situation and medical bills can quickly add up. When it comes to paying back medical bills, each state will have their own laws governing the payments. With so many differences, it's best to consult with a debt relief expert to ensure you have the best solution to tackle your medical bill debt.
- Payday Loans: With interest rates over 500%, payday loans are often the costliest type of loans for consumers. Not only can American Financial Services help you pay off payday loans quickly and efficiently, our counseling services also ensure you can learn how to avoid having to utilize payday loans in the future.
- Credit Cards: Having credit card debt go in default often means an onslaught of creditors seeking repayments. With no collateral needed to open a credit card, not paying off the bill can lead to some of the highest interest rates possible. Interest rates continue to accrue during the payoff process so finding a quick and efficient solution is imperative to eliminate high-interest debt.
Regardless of the type of debt you're facing, consulting with our debt relief advisors can help guide you down a path of financial freedom. Don't let fear and uncertainty ruin your finances and start eliminating your debt with our proven debt relief services today.
Identify the Debt Reduction Services for You
Knowing anyone's financial situation can change drastically due to unforeseen emergencies or job losses, our debt reduction services ensure we have the debt solution strategies suited for any financial crisis.
Regardless of the type of debt a consumer is facing or the amount of debt owed, our debt reduction services can cater to a variety of debt-related needs:
- Credit Counseling: By reviewing your financial situation, our credit counseling experts can help implement lower interest rates and fees into one monthly payment. Our counselors can also craft a debt management plan to ensure clients can keep their finances on track and out of debt.
- Debt Consolidation: Taking out a loan to pay off all your other debts is a common practice for debt consolidation. By taking a loan with a lower interest rate than all your other debts, you can lower your payments and consolidate debt payments into an easy-to-manage monthly payment.
- Debt Settlement: By negotiating with creditors over the amount of debt owed, our debt settlement practices can help lessen your debt by having the creditors accept lower amounts than the debt owed. This can help individuals save significant amounts of money while also helping fast track debt relief.
- Debt Management: For individuals overburdened with debt, our debt management services are ideally suited to tackle vast amounts of debt. A debt management plan can not only eliminate debt and rebuild your credit, but a proper debt management plan can also ensure you stay on the path toward a debt-free life.
- Bankruptcy: This involves a legal process where a consumer's assets help determine how they will pay off their debts. Once completed, bankruptcy can help consumers relieve any previous debts before filing for bankruptcy.
To help ensure every individual can have their debt consolidation needs met, American Financial Services also specializes in lesser known alternatives for debt relief. Other options for debt relief include:
- Deferment: Generally used for student loan debt, deferment permits borrowers to briefly suspend their payments while they get their finances in better shape. While deferment won't negatively impact your credit score, interest charges can still accrue while using the process.
- Forbearance: For individuals with mortgage debt, forbearance can be utilized after the borrower experiences financial hardship. Before seeking forbearance, borrowers need to request the service before missing any payments, but the program is relatively easy to qualify for and also works for student loans and credit card debt.
- Refinancing: Changing the type of loan through refinancing services allows borrowers to permanently alter the conditions of the loan to lower payments and interest rates. This allows individuals to receive new interest rates based on updated credit scores. However, homeowners that wish to refinance their mortgages may need to pay closing costs again. Homeowners with good credit, reliable income, and enough value in their home can use cash-out refinance as another tool to pay off high interest debts while reducing monthly payments.
- Loan modification: This service permits the altering of the amount, length or interest rate of the loan. This is often beneficial to homeowners who have seen the value of their property decrease and modifying the loan can match the loan's principal to the value of the property.
- Credit Analysis: Before making any big purchase like buying a home, you want to ensure you have the best credit score possible to help receive the lowest possible interest rate. If individuals are faced with a low credit score, credit analysis helps identify areas that can be enhanced to improve your credit score and lower interest rate payments.
With numerous debt relief solutions at your disposal, speaking with a debt relief expert at American Financial Solutions can help assure you of finding the right answer for your individual needs.
Whichever debt reduction service you choose, American Financial Services is here to guide you through the entire process. With millions of Americans suffering from loans and credit cards with high interest rates, American Financial Services knows the keys to ensure financial obligations can be met.
Never Tackle Debt Consolidation by Yourself
When faced with mounting debt, deciding to ignore the problem could lead to more severe financial consequences. Debt collection laws vary by state, but at the federal level, your wages could be garnished by up to 25%.
However, consumers do have rights when facing debt collection practices and consulting with our financial advisors can help ensure you're not facing undue financial burdens when trying to pay back debt.
Whether facing debt collection lawsuits, overbearing creditors, or wage garnishment from the government, the debt relief services at American Financial Services are designed with each individual situation in mind.
You have options available to you when it comes to mounting debt bills. Contact American Financial Services today to begin the debt-free life you've always dreamed of.