Debt Settlement in Alaska
Explore Your Options for Relieving Debt in Alaska
Below are descriptions of some of the most commonly utilized methods of relieving debt.
1. Continue making minimum monthly payments.
If you can make minimum monthly payments,it may feel like some progress is being made toward paying down a debt, but this is often the worst relief strategy. Paying only the minimum takes a lot longer to pay back a debt and costs much more in interest compared to other forms of relief in the long run.
2. Enroll in Credit Counseling or Debt Management.
Credit counseling is a debt management program where you work with a counseling firm to organize a repayment plan for your debts. Typically, a single monthly payment is made to a credit counseling agency, and in turn, the funds are distributed to creditors on your behalf, ideally at lower interest rates so that the debt can be paid off faster. With debt management, the disadvantage i that you still end up paying back 100% of your debt plus interest and these programs are designed to take 3 to 5 years to complete. The advantage is that these programs are usually offered for free.
3. Debt Consolidation Loans or Credit Cards.
With debt consolidation, a large loan or credit card account is taken out that has a low interest rate. The capital from that loan is then used to pay off other forms of unsecured debts that have higher interest rates, and in theory, this leaves you making a single monthly payment that is lower than what you were paying before as less is being paid out into interest.
Debt consolidation loans can be hard to qualify for with below-average credit and the low interest rate applied to the loan can disappear if the sum is not repaid within the promotional time window.
4. Alaska Debt Settlement or Debt Negotiation
Debt settlement is different from the first debt relief options in that the principal balance of the debt is reduced in addition to the interest rates. With less being owed on the initial debt principal, debt settlement can be a faster and less expensive debt relief option than either debt counseling or debt consolidation.
Settle your unsecured debt in Anchorage Municipality, Matanuska-Susitna Borough, or Fairbanks North Star Borough with the help of experts from New Era Debt Solutions.
Bankruptcy may be inevitable for individuals who continuously cannot meet their debt obligations. A formal declaration of bankruptcy stops the creditor collection process and relieves the debtor of some or all their unsecured debt, but their ability to borrow is severely hindered for years after.
Figure Out What’s Best for Your Finances
Do you have a legitimate financial hardship condition?
A good portion of debt problems in Alaska are caused by a loss of income, divorce/separation, or medical bills. These are legitimate financial hardships that can happen to any consumer through no fault of their own and any single one of these circumstances can clean out a savings account. If your debt load is overwhelming and you’d prefer to work out a deal with your creditors rather than to have to declare bankruptcy, then Alaska Debt Settlement could provide the solutions you’re looking for.
Are you committed to getting out from under your debt?
Debt Settlement system is not a “free lunch” for people who don’t feel like paying their bills. Debt Settlement is an aggressive approach to debt relief; and, as such, it presents an occasional challenge. Your level of commitment to staying the course, even when the road gets a little bumpy, often determines success. For those who are willing to see it through, debt settlement can get you through your financial difficulties faster and at a lower cost than any other debt relief option in Alaska.
Are your debts primarily from credit cards?
Many forms of unsecured debt can be reduced through negotiation including personal credit lines, financing contracts, signature loans, department store cards, repossession deficiencies, miscellaneous bills, and more. But most often, the biggest discounts are obtained from credit card debts; so, if most of your debt is from credit card debts, then you can anticipate good results from using a Debt Settlement strategy.
Learn About Alaska Debt Settlement
Debt Settlement is a form of debt relief that works by negotiating a reduced payment to settle a debt. This is different from only reducing the interest rate as with Debt Consolidation or Credit Counseling, which do not affect the total balance of debt.
Most creditors are willing to accept up to a 60% reduced payment on a debt to close it out rather than losing the entire debt amount if the debtor files for bankruptcy instead of trying to repay it.
New Era negotiators are experts at getting awesome settlement deals in Alaska, including Anchorage debt settlement, Fairbanks debt settlement and Juneau debt settlement. The most successful clients are often the ones who are ready & willing to get started immediately.
You can include the following types of debt in a New Era Debt Settlement Program:
- Credit cards
- Department store cards
- Signature loans
- Personal lines of credit
- Old repossessions
- Other unsecured debts
- Old judgments
- Private student loans in default
The following types of debt do not qualify:
- Home mortgages
- Federal student loans
- Car loans
- Other secured debts
- Credit Union debts
- Medical / Hospital bills
Alaska Debt Settlement Services by City
- Anchorage Debt Settlement
- Fairbanks Debt Settlement
- Juneau Debt Settlement
- Sitka Debt Settlement
- Ketchikan Debt Settlement
- Wasilla Debt Settlement
- Kenai Debt Settlement
- Kodiak Debt Settlement
- Bethel Debt Settlement
- Palmer Debt Settlement
This list is not exhaustive. Be sure to check with your Alaska debt counselor.
Can I Trust New Era?
You can separate the ethical firms from the bad ones with these 14 important questions. We always recommend looking into the company’s profile with the Better Business Bureau (BBB) to see what other Alaskans’ experiences have been like with that company as well.
For reference, New Era Debt Solutions is rated an A+ with the BBB and has over 20 years of history in the settlement industry. We’ve cleared more than $275,000,000 in debt from our clients’ names and have worked with credit establishments in nearly every state of the country. But don’t just take our word for it; Visit our Testimonials page to find out what other customers have had to say about our programs.
What makes New Era different?
No Upfront Fees. A Debt Settlement company cannot charge you fees if or until they’ve settled your unsecured debt. This is not only the most ethical way to do business – per an FTC ruling effective October 27, 2010, it’s also the law. At New Era, we never charge upfront fees for settlement.
- No “add-on” fees. Some debt settlement companies try to charge for administrative fees, signing fees, consultation fees, and other various excuses to try to get around the fee law. Good guy debt settlement companies, such as New Era, only charge a settlement fee which is not paid for until the debt is settled.
- End-to-end service. Some “debt settlement” companies are only sales groups that look for settlement clients and then pass off the account to a third party to handle the negotiations process. This creates a problem because it means your financial data is being passed around between multiple entities and the salesperson that you originally spoke with may have no control over, or even interest in, if the debt is settled in the end. At New Era, we handle our settlement programs with an in-house team of experts from beginning to end.
- Years of Experience. Many new debt settlement companies headed by prior mortgage professionals began to pop up with the crash of the sub-prime mortgage industry in the 2000’s. These newer settlement companies are lacking the experience and the connections with creditors that lead to your best settlement deals. When looking for a settlement firm, you should try to find one that has a solid track record of landing successful settlement deals. For example, New Era has over 20 years of experience in the industry and we’ve settled more than $275,000,000 in debt for our clients.
Get Started with Alaska Debt Relief
Contact New Era Debt Solutions for a FREE debt analysis today. Speak with an Alaska debt expert who can show you how much time & money can be saved with the right form of debt relief.