Debt Relief Solutions

Pacific debt Relief and other debt relief solutions to get out of debt

Reduce Your Credit Card Debt By Up To Half


Pacific Debt Relief offers the only solution that significantly reduces your debt to less than you currently owe. That means you get debt-free in a fraction of the time it would take with other options.


Save thousands by lowering your debt balance and wiping away years of future interest and payments. Call us today for a FREE consultation!

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Debt Relief Solutions


Let's take a look at some debt relief options below to find out which of these debt solutions make the most sense for you.

Consumer Credit Counseling


We can help you before the fall out begins.


The first debt solution is consumer credit counseling. Consumer Credit Counseling (CCC) companies were first started by the credit card industry to provide debt relief to the enormous amount of people who began to fall delinquent on their payments. The majority of credit counselors and credit counseling agencies are paid a commission from your creditor based on how much debt they can recover from you and they may also charge a service fee.


In some cases, the debt help of a true nonprofit credit counseling agency and credit counselor may be helpful, as the interest rate reduction may be enough to alleviate the financial strain a consumer faces. Nonprofit credit counseling agencies also require you to learn how managing debt in the future will help you live debt free.


Debt Management Plans


A reputable credit counseling organization will help you set up a debt management plan. A debt management program is a way to roll all your payday loans and other unsecured debt into one payment. It is not a way to consolidate debt as there is no loan and it is not settlement because you still pay the full amount and full interest rates.


However, all too often the debt management plan's monthly payments required by a credit counseling organization are just too high for many to afford. The monthly payments can be as high, or higher, than the minimum payments a consumer was paying prior to enrollment with the consumer credit counselor.

Once you start the program they will contact your creditors and enter you into a “Hardship Program” or debt management plan.


Next, the creditor will ONLY reduce your interest rates. As you can imagine, credit card debt consolidation with CCCs will take many years and the fall out rate of the program is extremely high.


If you are just starting to get into debt, debt management plans may be your best option.


The bottom-line is that companies are funded by your creditors, may require higher payments and only reduce interest —not principal.


Bankruptcy / Consult with an attorney


Stays on your credit report for a decade...


Today, more than ever, people are filing personal bankruptcy as a way of getting away from the burden of their debt. Statistics show that the number one reason people are filing for bankruptcy is the harassment and pressure from companies trying to recover their money. For some people, bankruptcy is the only realistic options for debt relief.


Say, for example, if you owe $60,000 and you will never make more then $1,000 in any given month, then bankruptcy is the only option. The biggest benefit of bankruptcy is that this approach provides immediate relief and puts an immediate stop to the harassment. In some cases, all of your unsecured debt is forgiven and you get a “clean slate”.


New laws were passed that make it considerably harder and less desirable to file for bankruptcy as a way out. With this in mind, even if you are able to file for bankruptcy, there is a good chance you will still have to pay some or all of your debts over a period of time. On the plus side, bankruptcy does offer some financial protection for your home and some income.


To determine what type of bankruptcy you may qualify for we strongly encourage you to speak with an attorney in your state. Only a licensed attorney in your state can review what debt help is available to you through bankruptcy. Some attorneys may also offer other alternatives as well.


Negative Effects of Bankruptcy


The negative aspect to consider with bankruptcy is the effect on one's credit history. Bankruptcy can ruin your financial life for many years to come. The bottom line is that it will stay on your credit report for up to 10 years. In addition, you'll pay immensely for those important purchases that you make later on in life.


For example, if you want to purchase a house in the future, the interest rate will be much higher than for the average consumer who never has filed bankruptcy. In addition, bankruptcy may be taken into account when applying for a job, an insurance policy, applying for a car loan, filling out a renter's application, etc.


As you can see, bankruptcy isn't as appealing as it may first appear, although in some circumstances it is the best, if not only, solution. Only a licensed attorney may provide debt help guidance as to whether bankruptcy is a suitable option for you.


Debt Consolidation Loans / Credit Card Debt Consolidation


Risking collateral and giving creditors leverage.


When falling victim to financial problems, debt consolidation loans are one of the most common debt solutions people think of for credit card debt consolidation. In some instances, this option may be a good fit for you if you have excellent credit and can obtain a personal loan with a much lower interest rate and a manageable monthly payment. However, many people who choose to go this route find themselves in much deeper financial trouble then they were to begin with.


Most consolidation loans issued through a financial institution are secured by collateral, such as your house, car or other personal property. By obtaining this type of loan all you are really doing is exchanging an unsecured debt for a secured debt that you will still need to pay interest on. Another downside is that it puts your assets in an accessible position for the loan company to go after in the event of default. In this case, all the leverage shifts over to the creditor.


This option only makes sense if you can obtain a new credit card debt consolidation loan with a much lower interest rate and a payment the comfortably fits within your budget.


Recently we have seen an increase in the number of unsecured credit card debt consolidation personal loans. Generally, the interest rates on these loans carry similar if not higher than your original rates. Thus the only real benefit is the convenience of one single monthly payment versus many. In some cases, the interest on these loans are 20% or higher.


Balance Transfer Credit Cards


Other debt relief options for debt consolidation is to take out a balance transfer credit card. These card often have high interest once the low initial rate has expired and without a plan to pay off 100% of the debt within the time limit, you can end up with another source of high interest credit card debt.


Borrowing money to pay off borrowed money is a tricky proposition.


Do what you’re currently doing


Minimum payments are not the solution that's best.


We recommend that all of our clients pay their bills on time and manage their debts wisely if at all possible. By doing so you will establish good payment history and this will reflect positively on your credit score. If you can comfortably pay your bills each month without debt help we recommend that you continue to do so.


Unfortunately, if you are struggling to meet your monthly payments, just making the minimums or behind on your payments, you may be in a situation where your debt will take many years to pay off — if at all. By simply paying the minimum each and every month, as much as 85% of your payments are going to interest and it may take you 25 years or more to pay off your debt in full!


In the long run, paying the minimum is not a solution to your financial situation. Consumers should consider factors such as expected future income as well possible budget changes when determining whether it makes sense to try and pay off credit cards on their own versus other debt solutions such as debt settlement or bankruptcy.


For instance, if a consumer is expecting to be making more money in the near future, or has simply had a temporary financial setback, continuing that minimum payment might make sense. Conversely, if someone is on a fixed income and has analyzed their budget, continuing to pay minimum amounts on debt payments may not make sense and other debt solutions such as debt settlement, credit counseling or bankruptcy may be appropriate.


Consumers may also wish to contact their creditors directly and attempt to negotiate lower interest rates or payment terms on their own prior to seeking other debt relief options. Some creditors will offer short-term hardship programs or lower payment terms. In many cases, creditors will not offer debt help unless the consumer is already past due.


Debt Negotiation with Pacific Debt Relief


The last option is debt settlement maybe your best option eliminate your debt. In a debt settlement program, the debt settlement company negotiates with creditors and debt collectors to lower the interest rate and the total amount owed. While you can do this on your own, a debt settlement company knows which creditors are more likely to settle. Our debt settlement programs work with most major credit card companies and have developed an excellent reputation for settling unsecured debt.


Most debt settlement companies deal only in unsecured debt like credit card bills, medical bills, and personal loans. While debt settlement is not for everyone, it can drastically turn around your financial situation.


Pacific Debt Relief is a national debt settlement company that has settled over $300 million in debt since 2002. If you are eligible for our debt relief solution and follow through with the requirements, you can expect to be debt free within two to four years.


Call for a free consultation!


Eligibility


To be eligible for the Pacific Debt Relief program, you must:

Call for a free consultation today!


Accreditation


Pacific Debt Relief is accredited by:

  • The Consumer Debt Relief Initiative
  • International Association of Professional Debt Arbitrators
  • Better Business Bureau A+ Rating with over 800 reviews

Like all debt relief companies, we are under the oversight of the Federal Trade Commission.


How Debt Settlement Works


When you enroll in Pacific Debt, you immediately stop paying all enrolled debts - even the minimum amounts! This convinces the creditors that you are serious.


We then begin negotiating with your creditors to lower interest and total debt. You make regular payments, based on your budget, to a dedicated savings account. After you build up enough savings, Pacific Debt pays off each creditor.


We do not charge upfront fees - only non-reputable debt settlement companies charge upfront fees! We do charge a fee of 15-25% of the total debt enrolled as we achieve results.


During your time with Pacific Debt, you will receive personal attention from your personal account manager and certified debt specialist. In fact, our customer service is legend and we are regularly named as Number One for Customer Service.


Call for a free consultation!


Debt Settlement Concerns


There are some serious drawbacks to debt settlement. First, because you must stop paying bills to convince creditors or debt collectors that you are serious, your credit scores can take some damage. The second issue is that debt settlement comes with tax debt as the IRS sees debt forgiveness as income.


To avoid too much of an effect from debt forgiveness, speak with a qualified tax advisor. You may also get irritated debt collection calls.


Real Debt Relief Reviews from Real Clients


If you check out other debt settlement companies, always read the reviews from real customers about their debt settlement programs. Check out what real clients say about Pacific Debt's debt relief services from reading our reviews.


With ratings and reviews like these, it is no wonder that we are a leading national debt relief company. Pacific Debt has helped thousands of people reduce their debt and find debt relief. Since 2002, we've settled over $300 million in debt for our clients.


Check out our success stories from satisfied clients in San Francisco. Hear from our satisfied clients in Philadelphia. See how we've transformed the financial lives of our clients in Arlington.


Our debt settlement program is designed for those consumers facing financial hardship who value getting out of debt over maintaining their credit score. We also have a strong presence in many large cities such as Tampa, helping many clients settle their debts. Read about our success stories from Austin.


Pacific Debt Relief is one of the top-rated debt relief companies in San Diego. See how we've made a difference for our clients in Yonkers. Our debt relief program also operates throughout the United States.


Read about how we've helped individuals in Orlando achieve financial freedom. We've also received positive feedback from our clients in New York. Discover the experiences of our clients from Pennsylvania.


Contact us today to see how we can help you understand your debt relief solutions and help you eliminate your debt.


FAQs

  • How can I get out of debt without paying?

    The one way to get out of debt without paying is to allow your debt to age out, usually between three and six years. 


    However, you will not have a credit rating worth having, you will have very little success in getting certain jobs, and no loan company will look at your seriously.


    These debt relief solutions are the only legitimate ways to get out of debt and still have a financial future. We suggest you read about our debt relief program and how it can help you.

  • Is it a good idea to use a debt relief company? Is debt resolution a good option?

    A debt relief company that is accredited and reputable can be an excellent way to get out of debt. An account manager will help you stay with the program, and you should learn financial management.


    Find out more by reading what customers are saying about Pacific Debt Relief.

  • Does credit debt go away after 7 years?

    Seven years is roughly when unpaid credit debt is removed from your credit report. You can ask for it to be removed sooner.


    Find out what happens to credit card debt after 7 years.

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