Emergency debt relief, as the name implies, should only be used when all other options have been exhausted. If you find that you have fallen victim to a cycle of high interest and impossible debt, then emergency financial help may be the answer. A solid emergency debt relief plan can literally get you out of any unfavorable financial situation.
What Emergency Debt Relief Claims To Do
Most people that are looking a debt management settlement will use a company called Emergency Debt Relief Inc. EDR was founded in Florida and debt reduction settlement services to those who are not able to keep up with their monthly credit card payments. EDR has years of experience when it comes to getting a debt consolidation settlement for their clients. Reducing the balance of unsecured debt is the most fundamental aspect of debt relief. Emergency Debt Relief has a program called Worry Less. Live More. It is allegedly supposed to reduce the total amount owed to creditors faster than similar programs offered by competitors.
Why You Need Emergency Debt Relief
If you are in less than $2,000 of credit card debt, then you most likely do not need the services of Emergency Debt Relief’s credit counselors. However, if you have more than this, you may be a good candidate. Using a debt management settlement firm can be beneficial for those that are totally overwhelmed by their unsecured debts. Sometimes talking to someone else about your financial problems can help you to reach your goals when you wouldn’t have otherwise been able to. If you feel like getting help from a third party could finally make your debt reduction goals become a reality, then you should consider debt relief. However, as you will soon learn, this particular debt relief company may not be the best choice.
Emergency Debt Relief Inc. Complaints
Over the years, Emergency Debt Relief has had its fair share of consumer complaints. In 2006 the state of Florida filed a lawsuit against the company for falsely claiming that it could help consumers reduce their debt by 50%. They also charged an 18% fee that was based upon the total amount of debt that the consumer had. The consumer’s total debt was not reduced, even after the fees had been paid. A settlement of $230,000 was reached and the funds were used to reimburse consumers for fees they had paid.
Is Emergency Debt Relief Right For You?
While EDR is not the most honest company on the market, this does not mean that all debt settlement companies are fraudulent. There are a plethora of other companies (the vast majority of them honest) that are willing to help you reduce your total credit card debt. Don’t let one bad apple ruin your chances of becoming debt free.