National Debt Relief has been accredited by the Better Business Bureau since 2013 and has an A+ rating. On Trustpilot, National Debt Relief has an excellent rating of 4.7 out of 5 stars, based on over 36,000 reviews. It is also accredited by the International Association of Professional Debt Arbitrators.

Certain Student Loans Not all debts are eligible for debt relief assistance. National Debt Relief doesn't settle secured debts like home loans or auto loans. The company also does not assist with debt from lawsuits, back taxes, utility bills, and federal student loans.

Credit score impacts When you use a debt settlement company like National Debt Relief, you can expect a credit drop by as much as 100 points; however, the company states that if you're able to settle your debts, the credit impact is about half of what it would be if you were to declare bankruptcy.

A debt relief program is a method for managing and paying off debt. It typically involves hiring a debt relief company to employ one or more strategies that help you get debt under control, such as by reducing the amount you owe, lowering your interest rate, or securing better terms.

It can help you get back on track financially If you're doing everything you can to pay off your balances but can't seem to make any headway, debt relief can help you stop treading water and rebuild your finances. Find out what debt relief options are available to you here.

Cons of debt settlement Stopping payments on your bills (as most debt relief companies suggest) will damage your credit score. Debt settlement companies can charge fees. Not all debt settlement companies are reputable, so you'll have to do your research.

Benefits of Debt Settlement

• Get Relief from Unbearable Debt and Repay Your Debt Faster.
• Avoid Bankruptcy.
• Your Debt Won't Be Sent to Collections or Charged Off.
• Avoid Being Sued for Your Debt.

Warning: There could be tax consequences for debt forgiveness. If a portion of your debt is forgiven by the creditor, it could be counted as taxable income on your federal income taxes. You may want to consult a tax advisor or tax attorney to learn how forgiven debt affects your federal income tax.

The Bottom Line

Debt relief refers to measures to reduce or refinance debt in order to make it easier for the borrower to repay it. Options for debt relief include forgiving a portion of the debt, lowering the interest rate, stretching payments over a longer period, or consolidating multiple debts into a single, lower-interest one.

Rising Debt Can Distort the Economy Directly by Creating Suboptimal Transfers. It is important again to recognize that rising debt is not a problem when it causes the supply of goods and services to rise along with the demand it creates.

5 days ago Debt is something one party owes another, typically money. Companies and individuals often take on debt to make large purchases they could not afford without it. Debt can be secured or unsecured, with a fixed end date or revolving. Consumers can borrow money through loans or lines of credit, including credit cards.