Debt Elimination Is It Moral

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Debt Elimination- Is it Moral?

This question has been asked by many. If you are a consumer considering Debt Elimination or Debt Settlement I am sure you have asked yourself that question. If you are like most Americans you have been exhausted to the point that making your payments even just the minimum is becoming impracticable. You are thinking that the only way out is to file bankruptcy. Debt Settlement, however, is one of the most practical, moral, and decent debt elimination programs available. Not only does the creditor get paid, but they benefit from it just as the consumer does.

Just as one would anticipate, some Americans who are considering Debt Settlement are in a much more uncertain financial position. It is unclear whether these consumers can afford to pay the debt back in full, or if it is even in their best financial interest to just pay the bare minimum credit card payments for years to come before even coming close to financial freedom.

There have been several thoughts on this subject.

Thought 1: I must secure my financial independence. I am only going by the rules of credit companies.

The outrageous interest rates and late fees charged by creditors make this a complex case to argue with. Most creditors raise their interest rates as much as 32 percent if you are viewed as a credit threat. Then, the combination of high interest rates and the need to make low monthly payments makes reaching financial freedom for most consumers impossible.

Thought 2: I spent the money, it is only fair that I pay it back according to the terms agreed.

The agreed terms also include repaying your debt by arbitration, which means that you can form a new payment agreement. The new agreement includes Debt Settlement. All consumers deserve the right to be able to pay back their debt taking into account their financial situation.

Important questions to ask yourself when deciding if Debt Settlement is moral

1. Is your contemplation of Debt Settlement as a debt elimination option the direct result of a financial crisis? A financial crisis would be explained as a hardship such as, divorce, loss of employment, medical issues or any other hardship that has caused you to become behind on your credit card payments. If your financial downfall is a result of one of these, or many other hardships, then Debt Settlement is a way to take control of your financial freedom and would be a moral resolution.

2. Did you fully intend repaying your creditors in full plus interest when you borrowed? If your answer is “yes” then Debt Settlement would be a moral decision on your part.

3. Have you researched all your options? For most Americans, seeking financial freedom can be treacherous. There are a small number of alternatives available that can lighten your situation. Nonetheless, if a resolution does exist that can improve your debt problems while allowing for full payment to the creditor, then possibly that is the more ethical opportunity for you to follow. Just remember that this will mean that you are paying back the debt in full including all interest and late fees which will take you years to fully pay.

Case Studies

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After a divorce and two year custody battle, I was drowning in a sea of credit card debt. Debt Elimination America literally pulled me out of nightmare of harassing calls from creditors and slashed the ridiculously high interest rates.

They took the anxiety and pressure away! What would have taken me seven to ten years to pay off only took a little over two and a half. Imagine having someone call and tell you that they have erased $8,000 from one of your cards and that is exactly what this company did for me. I tried to do it on my own just to be stonewalled or threatened by the collection agents.

The most outstanding thing about this company is how they manage to negotiate and settle your debts while you, the client, get the credit of paying it off as Debt Elimination America's name never appears on any of the documents. Thanks to this company I was able to sleep at night and could escape the hell of revolving interest rates and late fees.

Natalie Caudill

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