By Connie Schlosberg
When you finally decide it’s time to get out of debt and get your financial life back in order, you may feel overwhelmed and not know where to start. According to the National Financial Capability Study, 63% of millennials are stressed about their finances. Living with debt is highly stressful especially when you don’t know how to dig yourself out of a deepening financial hole. Instead of tackling debt on your own, get professional help from a debt relief organization. Just like you would see a doctor when you are sick, you should seek professional advice from a debt relief advisor when you are in drowning in debt.
No matter how much you learn about managing your debt unless you do it for a living you won’t be able to keep up with the ever-changing rules and regulations.
Tip! If you are curious about how much debt you have, try this debt analyzer tool before you start searching for a solution provider.
What can a debt relief advisor do for you?
Choosing the right debt relief advisor could be one of the most important financial decisions you make. A debt relief advisor can:
Assist you with setting up a debt management plan.
- Help you determine which debt solution, such as debt consolidation, debt settlement, or credit counseling, is best suited to achieve your financial goals.
- Explain the protentional risks and benefits of different programs.
When reconciling your debt, you need an objective opinion. We’re sure you have heard it before doctors won’t operate on family members and lawyers shouldn’t represent themselves. They are too close to the patients or clients and need to stay level-headed. We’ve seen first-hand that those who struggle with debt achieved the best results with professional debt relief advisors than handling it on their own.
Before signing on the dotted line with an advisor, ask about their qualifications, experience, track record, debt relief approach, applicable fees, credentials, and references.
Which questions should you ask before making any decisions?
Before you make any commitment to a debt relief program, you should have the answers to the following five questions:
- How does the recommended debt relief plan help you reach your specific financial freedom objectives?
- How safe is the recommended program?
- What could happen to your credit rating in the best or worst circumstances?
- Is there a tax consequence when you agree to a debt relief program?
- Are there taxes to be paid on any forgiven debt?
Choosing a good debt relief advisor – one who specializes in your current needs – no different from finding a supportive doctor or lawyer. At DebtMD, we offer access to the best debt relief companies to fit your specific needs. Each company is required to meet our stringent criteria. Let a debt relief provider lift the heavy burden of debt off your shoulders. Start your search here once you are ready to be debt-free