Debt Relief Programs | How To Get Out of Debt Heflin AL 36264

Need Debt Relief or Forgiveness in Heflin Alabama?

Let Us Help You Get Out Of Debt in Heflin ALAre you looking for help with credit card debt relief in Heflin AL?  More and more consumers in this economy are finding that they are in need of some form of Credit Repair or Debt SettlementWith mounting high interest credit card debt on top of a home mortgage, one or two car loans, installment loans and perhaps even a student loan, the total payments can be overwhelming. If you find yourself in a similar situation, you have probably come to this website because getting out of debt is your number one priority.  You may have considered a debt consolidation loan, but don’t really want to apply for any more loans.  Besides, you are not sure if you would even qualify at this point due to your high credit balances and low credit score.  You may have even considered bankruptcy so that you can get a clean start, even though it may impact your credit rating for years to come.  So before you take any drastic actions that could put you further in debt or destroy your credit, let’s look at some debt relief and forgiveness options

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Debt Relief and Forgiveness Options

If paying off debt or debt forgiveness is important to your financial health, you are probably aware that there are several options available to you in Heflin AL.  They include:

  • Credit Repair
  • Debt Consolidation
  • Debt Settlement
  • Debt Management
  • Credit Counseling
  • Student Loan Forgiveness
  • Bankruptcy

Let’s take a closer look at some of the ways that you can get out of debt and how each solution can help you achieve your goal of being debt free.

Credit Repair

credit cards Heflin ALCredit repair is the process of fixing or removing items on a bad credit report.  It could be as simple as rectifying mistakes with one or all of the credit bureaus.  It may also involve Identity theft, which can require extensive credit repair work. The second form of credit repair is to deal with fundamental financial issues, such as budgeting, and begin to address legitimate concerns on the part of lenders.  In some cases, credit repair may require legal as well as financial expertise. Depending on the extent of the problem, it may require simply cleaning up misunderstandings, while in other cases professional intervention is needed.

Debt Consolidation

As we have discussed, debt consolidation loans are probably one of the first solutions that Heflin AL consumers saddled with high interest debt consider to pay off their financial obligations.  The biggest drawback is that they are not always easy to qualify for, especially if you are already having financial issues. The concept of consolidation loans is that you pay off all of your high interest credit cards and installment loans with one lower interest loan that reduces your overall monthly payments.  It is often advisable with these types of loans to close out all of the high interest credit cards so that they are not charged up again on top of the consolidation loan.  This option is often best used in conjunction with some form of credit counseling so as not to make matters worse by continuing to incur high interest debt.

Debt Settlement

Debt Settlement has become very popular in Heflin AL as a means of debt elimination instead of consolidation.  It provides debt relief by reducing the total amount owed to each creditor, thus making the debt much easier to pay off.  Companies that specialize in debt settlement programs negotiate on the consumer’s behalf with creditors to reduce the balances due and set up a payment schedule that will eliminate the total debt within a set amount of time.  This allows the debt to be paid off faster and with more affordable monthly payments.  The advantage to creditors is that they will receive at least a portion of the debt owed without having to hire debt collectors or pursue the debt through the judicial system.  Often they may receive nothing at all if the debtor files bankruptcy.  If you would like to see how much you can save with a Debt Settlement Program, click the banner above.

Debt Management and Credit Counseling

“Debt management and credit counseling” are debt relief strategies that analyze your current financial picture and educate you on how to better manage your debt.  Counselors will make suggestions regarding budgeting money and consumer behavior so that you can make wiser choices when incurring debt.  They will also create a payment plan that you can afford, often incorporating other debt relief options such as consolidation, debt settlement and reducing interest rates on credit.

Bankruptcy

bankrupt Heflin ALBankruptcy is the last option that should be considered, and only when no other debt relief option is a workable solution.  Bankruptcy can provide a “clean slate” so to speak financially, but not without consequences.  The worst is that it can impact your credit for the long term, although options for re-establishing your credit will vary from lender to lender.  And not all debt may be forgiven, so be sure to consult a reputable Heflin AL bankruptcy attorney to find out what is forgivable debt should you choose this option.

Looking for Debt Relief in Heflin Alabama?

Finding the right debt relief program is important if you want to get out of debt and remain debt free.  If you live in the Heflin AL area, here is a little bit of background information about your hometown that may be helpful.

James Thomas Heflin

Born in Louina, Alabama, he attended the Agriculture and Mechanical College of Alabama (now Auburn University). He never graduated but independently read law and was admitted to the bar in 1893, practicing law in LaFayette, Alabama.

Heflin first rose to political prominence as a delegate who helped to draft the 1901 Constitution of Alabama. Heflin argued, successfully, for completely excluding black Alabamians from voting, stating, "God Almighty intended the negro to be the servant of the white man." As Secretary of State in 1903, Heflin was an outspoken supporter of men put on trial for enslaving black laborers through fraudulent convict leasing. As detailed in Douglas A. Blackmon's book, Slavery by Another Name, the practices were a brutal, post-emancipation form of slavery in which African Americans were often falsely convicted of crimes and then sold to farmers or industrialists. Heflin explicitly used white supremacist rhetoric to mobilize support for the defendants. He argued before a group of Confederate veterans that forcing blacks to labor was a means to hold them in their proper social position.[1]

In 1904, Heflin was elected to the House of Representatives as a Democrat to fill the vacancy left by the death of Charles Winston Thompson. Four years later, while he was a member of the House, he shot and seriously wounded a black man who confronted him on a Washington streetcar. Heflin threw the victim Lewis Lundy, off the streetcar and shot at him through the streetcar window. Lundy received a wound to the head, and reports vary on whether it was due to pistol-whipping by Heflin, by the fall from the streetcar, or by a bullet wound.[2] A white bystander, Thomas McCreary, was wounded by a stray bullet fired by Helflin. Although indicted, Heflin had the charges dismissed.[3] In subsequent campaigns, he bragged of the shooting as one of his major career accomplishments.

Make the Right Choice for Debt Relief

Making the right choice is important for your financial future.  We have detailed some of the options available to you in Heflin AL to help you eliminate your debt, but as with all things, due diligence is important.  Be sure to speak with a professional regarding any legal and tax consequences of the solution that you choose.  Remember, your long term financial health is the most important goal of any type of debt relief program.

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