High inflation, along with a rising rate environment, has pushed many Americans to rely more on debt to keep up with household spending. This has led to near record high balances in both credit cards and unsecured loans, according to TransUnion.
If high balances are keeping you up at night, debt relief could be the right solution for you. That said, debt relief can come from multiple sources, each catering to different types of debt, credit scores and overall financial situation. Understanding how they work is key to selecting the best one for your particular needs.
Key takeaways
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Debt relief is a restructuring of debt to make it easier for you to pay it back.
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Debt consolidation, debt settlement and debt management plans are some f…
Read the full article at: https://finance.yahoo.com/news/where-debt-relief-help-010430853.html