Boca Raton, Nov. 13, 2018 (GLOBE NEWSWIRE) -- America is drowning in debt. Consumer debt, including credit card debt, student loans, auto loans, household mortgages and medical debts, stood at $13.3 trillion by the end of the second quarter 2018, overshadowing the previous all-time high of $12.7 trillion set at the height of the 2008 financial crisis. The average household debt now outstrips household income, a worrying trend given the current environment of stagnant incomes and rising interest rates.
Most people will tell you that getting out of debt is one of their biggest financial challenges. That's the unfortunate case because they lack a proper plan of how to successfully resolve their debts and are also unaware of the consumer rights that protect them. Luckily, Resolvly LLC is a leading debt resolution company that helps people resolve their unsecured debts. Resolvly offers a variety of debt solutions to debt-ridden consumers and also works with consumer protection lawyers to reassert consumer rights and stop creditor harassment.
Some of their key services include resolution of:
• Credit Card Debt: The Company helps people who find themselves in a situation where they are barely able to make minimum payments on their cards.
• Medical Debt: Unpaid medical bills have been leading to millions of Americans filing for bankruptcy every year. Resolvly helps people who are struggling with their medical bills.
• Private Student Loan Debt: Some institutions of higher learning lure students into career programs with promises of high-paying jobs which later fail to materialize leaving them saddled with huge student loans they are unable to pay. Revolvly works with consumer protection attorneys to validate these loans.
• Unsecured loans: People who default on their unsecured loans often have to contend with constant creditor harassment. This company helps its clients identify the available solutions while putting a stop to creditor harassment.
Solving the problem
Resolvly LLC says that the key to resolving your debt problems lies in understanding how debt consolidation, debt settlement and debt validation work. Many people in desperation turn to companies that offer debt consolidation services. Resolvly, however, warns that debt consolidation and debt settlement are mere band-aid solutions and that the best option for getting out of debt is by learning how to validate their debts in a bid to dismiss the debt completely and legally.
Having your debts contested for validity and have them written off is a viable way to lower your debt load especially for consumers who frequently are not aware that their rights are being trampled on by unscrupulous creditors. A 2017 Consumer Complaint Survey Report identified debt scams and other lending-related issues as part of the top 10 consumer complaints.
Debt Consolidation vs. Debt Settlement
Debt consolidation may provide a temporary solution to help you manage your debt problem but does not decrease it. Debt settlement gives you a window to lower your debt depending on the negotiated arrangement between you and your creditor. In many cases, the creditor is unwilling to accept the amount you want to settle with and then you are back to square one.
Debt validation is a better method to resolve your debt problem because, unlike the other two, it promotes your legal rights and looks at possible violations by your creditors which can invalidate the debt.
To learn how debt validation can solve your debt problem, call Resolvly now at (855) 404-0034.