In Addition to Debt Settlement, Debtors Can Now Request Payday Loan Consolidation

Miami, FL -- (SBWire) -- 03/21/2013 --According to NerdWallet.com, as of March 2013, the average consumer holds credit card debt totalling $15,266, mortgage debt totalling $149,667 and student loan debt totalling $32,559. These figure only takes into account those who have a particular type of debt as many households have no credit cards, no mortgage and no student loan debt. "Families struggling with debt need help and DeDebt provides this type of assistance," according to Tom Bundle, media contact for DeDebt.com.

Debt settlement remains a popular option with consumers as it allows debtors to pay less than what is owed on an account. The debt settlement company negotiates with creditors on the debtor's behalf to reduce the outstanding debt balance. Many confuse this with debt management, but they are two different solutions as debt management has the debtor paying the entire amount owed over a period of time. "For those with overwhelming debt, lowering the balance removes some of the pressure on the debtor and allows him or her to pay off the debt in a shorter period of time," Mr. Bundle explains.

Many choose credit card debt settlement when credit card payments can no longer be made as agreed. When one falls behind on a credit card, late payment fees are added. In some situations, the late payment fee puts the debtor over his or her credit limit so he or she also receives an over-the-limit fee or penalty. As these add up, the debtor finds he or she cannot move forward and pay the debt down, much less off. "When credit card debt settlement is selected, the debtor see the light at the end of the tunnel in a shorter period of time," Mr. Bundle continues.

Payday loans offer short term relief for a financial crisis, but can quickly lead to disaster if the borrower cannot make the payments as agreed. These loans come with very high interest rates due to the risk taken on by the lender. Some borrowers have payday loans at a number of places and find they can't pay them all off. DeDebt steps in and negotiates with the payday lenders to lower interest rates and monthly payments. "Most debtors find they can pay off these loans within a six to 18 month period when consolidating the loans," Mr. Bundle states.

Other debt relief options include debt consolidation, credit counseling and interest rate arbitration. "Debtors in need of relief find it with the help of DeDebt.com. An agent works with the debtor to find the right solution for his or her situation. Don't suffer alone any longer. Turn to DeDebt.com to obtain some much needed relief," Mr. Bundle declares.

About DeDebt.com
An Internet based agent, DeDebt.com matches clients and service providers in the areas of debt reduction consolidation and management. All offerings work to help clients get rid of a large portion of selected debts. DeDebt works with clients to create a realistic plan for bringing debt under control while also teaching clients how to create and follow a realistic budget. This enables a person to become debt free and stay that way without declaring bankruptcy. Clients no longer have to face debt collectors alone or deal with a lawsuit without assistance. DeDebt helps until the situation is resolved.