Find help with debt from programs offered by lenders, banks, non-profit or government agencies as well as other companies. Some agencies may offer emergency assistance, free debt relief programs or consolidation services as well as long term support. There are many ways to get out of or to reduce credit card as well as medical debt or to get help with loans. It is also possible to rebuild credit scores or to get help with car loan payments. Find how to get assistance as well as a list of solutions below.

You can consolidate all of your debts by entering into reduction or credit card hardship programs or payment plans. Borrowers can reduce the interest rates on any loans or even completely eliminate them. Most lenders are willing to offer some form of debt help to borrowers, and charities as well as non-profit agencies can also assist for little or no cost. Various options, including some that are free, are available to help consumers along with borrowers with bad credit reduce the amount of money that they owe. There are also ways to get help with a car payment.

Some of these debt reductions solutions as well as assistance programs are offered by credit card issuers, private companies, non-profit counselors, banks and other organizations. Banks, medical providers, credit card companies as well as other lenders are more willing than ever to help a household get their finances under control. They offer debt assistance as they would rather be able to collect some of the outstanding bills due from the borrower rather than see them file bankruptcy or somehow contest the obligation, in which case the lender gets nothing.

In addition to using the free counseling services from a non-profit, or working with the lender, there are steps that you can take yourself that can offer debt help. It often combines budgeting as well as working out a solution with the lender There are also emergency as well as long term solutions.

Some of those debt assistance programs range from payment plans to interest rate reductions or forbearance. It is also important for families to know the difference between bad and good debt, so when someone should borrow money or not. The fact is that families, no matter their income, need all the assistance they can get in order to become debt free and pay outstanding bills.

Find how to get debt help, including for credit card and medical

Debt settlement is a process by which you can greatly reduce or maybe even eliminate the total amount of debt you are currently paying or committed to pay in the future. Solutions are available for various types of accounts, including credit card, medical, and even personal loans. Learn about debt settlement companies as well as the process that is available.

While some private companies offer this service or other debt relief programs to borrowers as a form of help, many lawyers and attorneys may also be able to help you through this process. They help borrowers reduce or eliminate their debts and will work directly with your creditors, including banks. Many of these attorneys work on a contingency basis, meaning you need to pay them only if they are successful and save you money. Learn more about attorneys that settle debts.

Eliminate and consolidate medical debt to deal with health care costs that are continuing to escalate and that are really out of control. There are ways to consolidate medical debt using assistance programs that are offered by directly hospitals, medical providers, doctors and counselors. These plans are becoming more common in today’s challenging economy and when also considering the aging population. A health care provider will want to find some type of solution for the patient, as in some cases if they do not work with them it can lead to bad public relations. Learn more on how to eliminate medical debt.

Debt consolidation loans can help you pay off bills as well. They are a type of personal loan in which you can consolidate all types of outstanding debts as well as other expenses, including credit cards, other higher priced borrowing, and medical bills. The individual will take out a new loan, at a lower interest rate, and use that money to pay off other accounts to help with their debt. This will reduce your monthly payment, and therefore will save you money. Debt consolidation loans are just one option available to help consumers get better control of their finances.

Debt management plans, or DMPs, will lower your interest rates and therefore monthly payments. These so called DMPs are available directly from a credit card issuer, lawyer, debt management company or a non-profit credit counseling agency. The company that you enter into a plan with will negotiate on your behalf with your creditors as well as give you free advice. This can help you get lower interest rates, waive fees, provide you additional time, and will reduce the total amount of your monthly payments. More on debt management plans.

FAQ on help with debt from credit card consolidation

Get the answers to the most common questions on credit card bill and debt consolidation. This can be one solution to use for debt help, especially when the interest rates are lower. The process can help you decide whether taking the approach of credit card consolidation is right for you as just maybe it can help you in your personal and financial situation. Find a list of questions about credit card consolidation.

Low interest rate bill consolidation loans - Find out what they are, how they can help, the advantages and disadvantages, and learn the truth. They can be a solution to some borrowers. Get both the pros and the cons of bill consolidation loans.

Compare debt settlement vs. debt consolidation programs as they have differences between the two. One or the other may be a better option for you and your family, and it depends on your personal financial situation. Get information about the pros and cons of these two different debt assistance program approaches. Read tips on which option may be the best option for you and your situation. Compare debt settlement and consolidation.

Alternative methods to use for getting out of debt

Find free, simple steps to take in order eliminate credit card debt and to save money on all of your monthly bills. Experts offer free, do it yourself advice and simple steps that you can take yourself to eliminate credit card debt. The goal of these methods is to help you become debt free in a fairly short time frame. While there is no easy button to press, taking some small steps now can put you on the right path. Many are tried and true. There are steps to follow to eliminate credit card debt, as it does take time.

Find ways to get help, lower interest rates and consolidate debts from Bankrate. This is a wide ranging financial guidelines company. Get information on the six best approaches from Bankrate for how to consolidate debt and save money on interest expenses. Many of these are proven approaches to take.

Reduce interest rates on credit cards and other debts. You can save money by reducing the interest rates you pay on your credit cards, loans and other debts. Depending on exactly your current terms and how much you owe, you can save hundreds or thousands of dollars in total interest expenses. It is generally free to try this. There is a 50-60% success rate of receiving a lower interest rate when you try on your own to gain better control over your financial obligations. Learn more on reducing credit card interest rates.

Peer to peer lending low interest loans can be helpful in some cases. This is a fairly new business, but a number of peer to peer lending sites may offer help, such as Prosper, Lending Club, and Zopa. The money can often be used for paying any number of bills or handle various forms of arrears. These companies and their services can help you reduce, consolidate and pay off credit cards, automobile loans, medical bills, and other higher interest rate loans. While they do often have minimum credit scores needed (especially when consolidating debt) They can be an option. More on peer to peer loans.

Debt help from collectors is available. Anyone can benefit from these programs. Find how to get help from debt collectors and learn how to stop collection calls. Families being impacted by this can also receive other assistance, whether free legal aid or counseling. Many government laws and regulations can also help protect you from aggressive collection tactics. They are intended to assist the everyday consumer. Find how to get help from debt collectors.

Pay more than the minimum on your accounts. See examples of how you can save thousands of dollars in interest costs and potentially late fees by paying more than the minimum balance on your credit cards. This is arguably one of the best ways to reduce your debts over a reasonable period of time, and it works for credit cards, medical bills, car loans, and really anything. You need to start with your higher interest rate commitments first. Find the benefits of making more than minimum payments.

Negotiate credit card debt as well as outstanding loans - While it is possible to contact a credit card card company and negotiate yourself, unfortunately getting the best deal you want or that you may need won't necessarily be easy, if it can be done at all. If you do try to negotiate yourself rather than using a professional counselor, find a do it yourself approach to negotiate and get out of debt.

Consolidate with a home equity loan. If your total debt load, including credit card, medical, and other unsecured borrowing seem insurmountable for you to pay off, then you can use a home equity loan to consolidate and even pay off these bills. While there are some potentially major risks if you do not do this correctly, the approach is an option. A home equity loan can help you eliminate your higher interest, unsecured debt and improve your financial situation.

It is possible to refinance a credit card account to save money. There are many ways to do this, ranging from loans to using a different lender, hardship programs, closing an account, and more. Find different ways how to refinance credit cards.

Save on interest expense and reduce debts with low interest rate deals

Refinance your car loan - Many people do not know that they can refinance their existing car loan, and there is usually not a fee involved. With today’s historically low interest rates, even on automobile loans, individuals can potentially save thousands of dollars in interest. It is free to submit an application for this service. Learn how to refinance your car loan.

Consolidate debt using a low interest rate credit card. Discover the 10 best low interest rate credit cards as determined by CardRatings and Consumer Reports. They also tend to have very competitive fees. A low interest rate credit card can greatly reduce the amount you need to pay on your outstanding credit card bills and debt. Find a list of the 10 best credit cards for consolidation.

There are assistance programs for car owners that have poor credit scores. Programs can help them make a payment on an existing loan or debt obligation. Or if someone has bad credit (or no credit history) and they are in the market to purchase an automobile, then assistance is available with that as well. Find a list of programs that help families with poor credit either buy a car or make a payment.

Credit card assistance programs from banks, non-profits, and the government

Credit card programs from various banks and card companies - Find a comprehensive list of credit card issuers and the assistance programs they offer their customers. Locate their contact information and phone numbers. While not everyone will qualify for the solutions they offer, there is no harm in applying and at least trying. It just takes a little of your time and a phone call. Between the programs they offer and the other resources you will find on this site, your chances of getting out of debt in a fairly reasonable timeframe are improved. Find programs that provide credit card help.

Learn about other types of assistance programs from credit card companies. While it is true that many are increasing fees and in general turning up the pressure on credit card holders, there are also an increasing number of companies that are creating assistance programs to take a more pro-active approach in an effort to truly help people. They are more willing to reduce and cancel unpaid debt, reduce interest rates, allow payment plans, and offer other assistance.

In today’s challenging and still weak economy, banks and credit card companies are more likely than ever to forgive or cancel credit card debt free of charge. Especially when statutes of limitations laws for credit cards come into place. They offer customers a number of assistance programs and related counseling services. They really do this selfishly, as they would rather settle with the consumer vs. see them file bankruptcy, as in that case they receive nothing. More on credit card assistance programs.

Deferral assistance program - Most major banks, including Citibank, Bank of America, Chase, Capital One, and others have launched an assistance program that will allow their customers to skip a payment or they put the monthly credit card bill on hold. It is a type of debt assistance program offered to help families and individuals of all backgrounds as well as incomes that are faced with a short term hardship, such as furlough, temporary reduction in income, or other challenge. Read more on how to get relief from a monthly credit card deferment.

Federal government interest free loans, which are interest-free, deferred-payment loans may be available to small businesses. The money from the government can be used to pay mortgages, credit card bills, health care costs, and other expenses. Government loans are a great debt reduction option.

Debt management plans from Consumer Credit Counseling Services and other third party organizations exist that can help you find solutions to debt problems. They help with mortgages, loans from banks, credit cards, and much more. These not for profit credit counseling agencies offer a host of solutions, including debt management plans, assistance with negotiating, and information on other programs that may aid you. Consumer Credit Counseling Services are often free to use.

Free advice from credit counseling agencies is available. Several different organizations, all of which are non-profits, operate across the country. They offer debt help as well as other types of charitable assistance programs. A number of agencies operate regionally as well. They provide a number of low cost or free debt reduction programs, offer ways to improve credit scores, can advise on filing for bankruptcy, offer budgeting services, and in general provide information on ways to gain control of your bills. Find a listing of non-profit credit counseling agencies.

Union members and AFL-CIO debt management plan - Union Plus wants to remind members and organized labor that they offer a debt management plan to help members. Individuals are able to consolidate their bills at a lower interest rate, enter into payments plans, and otherwise pay down their bills as a form of debt assistance. They will also reimburse participants in this program (regardless of their income) some of the monthly fees that may be due. More on Union member debt consolidation..

Credit card modifications are becoming more common. For example, Bank of America is modifying the credit card terms of thousands of cardholders ever year to help them with getting out of debt, Chase is rewriting the terms of thousands of card agreements, and almost every other lender as well as bank offers some form of modifications. It is more possible than ever today to get out of debt with help from credit card issuers. Continue learning about credit card modifications.

Credit card hardship programs are also more widely available. Citibank, Bank of America, Discover Card, JP Morgan Chase, Capital One, GE Money Bank, and others offer consumers assistance with paying bills and their debts. There are many different versions of these credit card hardship programs, and each bank has their own take on it as they do wanted to offer some type of relief. They do not advertise these plans to customers, and there are certain steps that individuals need to take in order to apply for help. Find how to get help with paying credit card debt from a hardship program.

Most of the major banks and card issuers are more aggressively offering their own form of debt help as well as reduction or settlement plans for unpaid debt and bills. It is in their best interest to do this as well. Not only are they cutting out the middle man, but they will also receive at least some payments from the customer, rather than nothing. Find a list of credit card company settlement programs.

Many banks and credit card issuers, such as Bank of America, HSBC, Wells Fargo, and Capital One offer consumers their own debt management plans (DMP) as part of the Call to Action. This is a government supported debt assistance program that will reduce interest rates, eliminate fees, and help in other ways. It often involves some form of payment plan as well. Continue with debt management plans - DMPs.

Credit card forbearance programs are offered by companies. Once again, the major lenders including Chase, Bank of America, Citibank, Discover Card, and others offer credit card forbearance programs that may allow consumers to delay monthly payments from six months to over a year. These programs may also lower interest rates, reduce a customer’s minimum monthly payment, or waive all fees.

The solution was really created by banks and lenders to provide consumers with more time to pay any bills they owe on. Credit card forbearance programs give a debtor time to get back on track, ranging from months to ever years.

Military credit and debt counseling is offered to active service members as part of the Military OneSource Program. The federal government created this debt help program in partnership with non-profits such as the National Foundation for Credit Counseling. Any member of the military, whether active duty or a reserve, may qualify for free advice as well as counseling. Clients can have a number of financial issues addressed, including excessive credit card or medical debts, sign up for budgeting workshops, credit repair and more. Read Military OneSource Program.

Help with payday loans

Salary advance or payday loans can be difficult for borrowers to pay off due to their high interest rates and associated fees. Some lenders also try to make the process more difficult as well. Find ways both eliminate and consolidate payday loans.

Borrowers also have protections from predatory lenders. Much of these is legal in nature. Many states and the federal government have created laws and rules that payday lenders need to follow. The regulations can cap interest rates, limit the number of times funds can be issued, and offer additional assistance. Read more on the payday laws in your state.

Repair credit

There are several steps you can take yourself to repair your credit scores, even if they are very low. Having a higher credit rating can lower the amount of interest you need to pay on your debts, it allows you to get approved to borrow money and improves the ability to take out more loans, such as an auto or mortgage. There are also other benefits. For example, a better credit score can even help you land a job. Find how to repair credit scores.

Summary of debt help or relief programs

There are many solutions out there for households that are struggling to keep up. As listed above, there are debt assistance programs from lenders, banks, non-profit organizations, charities, and even the government. Legal firms even give free bankruptcy advice to the low income. Whether it is a loan, a credit card company, or some other lender, they all try to offer some form of debt help to their customers as it benefits both the lender and the borrower. Read more on the programs and options above and apply for assistance.


By Jon McNamara
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