Student Debt Relief

It is often said that bad luck comes in threes. Hence, it is not surprising that the people face financial problems, personal problems, health problems and other such emergencies in life all at once.

You may have managed the rising credit card debt had the medical emergency been avoided. You may have overcome both these problems had your spouse not asked for divorce. Alimony, rising credit card interest, medical debt – all this is enough to drive one crazy.

You may be forgiven for thinking that bankruptcy is the best way out. However, you should keep in mind that there are alternatives available that will help you not only overcome these problems but actually make use of these problems to improve your finances.

You just need to get in touch with your lenders and explain that you have been given a very unfair deal and that you believe you can solve this problem. The idea is not to approach them for sympathy or affection. Rather, you should approach them and seek a waiver.

Do lenders offer waivers? Do they actually provide generous reduction in debt to help the individual overcome financial problems?

This may sound hard to believe but settlement companies have secured deals on debts worth billions of dollars in the past years. The past recession has seen many persons sink into serious financial problems. Some problems occurred because of irresponsible financial planning of the individual while others have occurred because of sheer bad luck.

In either case, neither the government, nor the financial institutions are interested in adding to the large number of bankruptcies that have already taken place. The idea of a settlement may seem very odd in the beginning but it makes a lot of financial sense if you consider the long term view.

Having a bankruptcy on your credit score and credit history will mean that you can not qualify for a prime loan for the next 7 to 10 years. America has always relied on debt to move ahead. If a majority of its citizens becomes sub prime borrowers, financial institutions will find it very difficult to function properly.

In such a scenario, lenders have decided that they stand to gain more by offering generous waivers, even 70% waivers, as long as it helps the economy recover and enables individual to overcome financial problems faster. As you may have realized, this approach is based on self preservation rather than any sentiments of generosity or sympathy.


If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called “Free Debt Relief Networks” that are a great place to start in locating legitimate debt settlement companies in your region.

They provide free debt help and know where to locate the top performing debt settlement firms.