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Of all the problems possible in a marriage, finances cause the most marital discord, debt relief programs Many singles consider finances to be their most worrisome issue, debt relief programs Many times this is due to a heavy debt burden, debt relief programs Several options exist to help people get debt relief from their unsecured debts, debt relief programs (Unsecured debt is not linked with a physical asset, debt relief programs Therefore, credit cards and medical bills are unsecured debts; a car loan or a mortgage are secured debts, debt relief programs) One option for debt relief is bankruptcy, debt relief programs While unsecured debts are indeed discharged, the long-lasting black mark on your credit report (up to ten years) makes bankruptcy less than ideal as a form of debt relief, debt relief programs Further, changing bankruptcy laws will make it more difficult to file, debt relief programs Bankruptcy should only be a last resort, debt relief programs It is not a quick fix, debt relief programs Another option is debt consolidation, debt relief programs Debt consolidation combines your existing loans into one loan, debt relief programs While this does away with late fees and over-the-limit fees, very little is done to reduce the amount of debt or to renegotiate interest rates, debt relief programs Further, this uses something as collateral, such as your house, debt relief programs If you still have trouble paying, you could lose your house to foreclosure, debt relief programs A third option of debt relief is debt settlement, debt relief programs The debt settlement company negotiates with credit card companies to agree to settle for a lesser amount owed, often pennies on the dollar, of both the interest and the principle, debt relief programs A debt settlement company also acts as the middleman between the debtor and the credit card companies, eliminating phone calls that border on harassment, debt relief programs A downside to debt settlement is that many debt settlement companies advise you to stop paying your monthly bills altogether in order to force credit card companies into settlement, debt relief programs While this may work for some credit cards, others may be just as likely to take you to court for non-payment, and debt settlement companies take no responsibility for such action, debt relief programs A fourth option for debt relief is through credit counseling services

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