The Maze of Debt Relief Options

If you're living paycheck to paycheck, struggling each month to pay your bills, and feel like you're drowning in a sea of debt, perhaps it's time to examine your options for debt relief. So, you do a google search and are more confused than ever because of the various options available, each promising that their option is the best one for you. You try to do your due diligence but are just getting more and more frustrated and deeper in debt.

What is a consumer to do?

The best way, obviously, to get rid of debt is to attack the balance with the highest annual percentage rate first. When that one is paid off, move onto the debt with the next-highest interest rate. Always attack that high-interest debt first. On that debt, you want to double, triple, or even quadruple minimum payments. When you're done with that one, move on to the next one. But what if you're falling behind more every month, which is what the debt relief options are really designed for.

In this seven part series, I will attempt to shine a light of reason on the subject in hopes of providing you with the knowledge necessary to make an educated and informed decision, as well as give you the peace of mind that you desire to become proactive (finally) and take the action necessary to do something about your debt burden.

In part 1, I will briefly touch upon each option (there are really only five) and give more detailed descriptions in the following daily parts (2 through 6) wrapping it all up in the final part on day number 7.

Debt relief is possible, but it requires determination and research on your part. Once you feel comfortable and sign on with a program, stick with it. If you are using the services of another company to help you obtain debt relief, make sure you read the small print and check out their references. Ultimately, your credit standing is in your hands. Do not trust it to those who are not actively working on your behalf.

So what are the debt relief options available to consumers?