Want to Be Debt-Free Fast? Learn How Debt Resolution Can Save You Money

Today, people burdened by debt are trapped in a repayment cycle that makes living a debt-free life look like an unattainable dream. Most of them do not know that debt resolution could help them become debt-free sooner and save them money. They need to understand that debt resolution is one of the most powerful steps they can take to protect their wallet and regain control of their financial future.

As a borrower, you should also know that a debt resolution attempt on your own can be risky and time-consuming. So, the best thing you can do is go through this blog post and learn how debt resolution works, why it is important, and how it can save you money without diving deep into a DIY approach. This post reveals why leaving the heavy lifting to professionals like Triumph Debt Relief is the best decision you can make.

What Is Debt Resolution?

Try to think of a scenario in which you are being bombarded with collection calls for debts that you do not remember incurring, or worse, with businesses you have never heard of. This is where debt resolution comes in. According to the Fair Debt Collection Practices Act (FDCPA), you can request from a creditor or a debt collector an explanation for the debt that they are attempting to collect.

But here’s the catch: debt resolution is more complex than it sounds. It involves specific legal processes, tight deadlines, and a lot of correspondence between you and creditors. Any failure – even the smallest delays or mistakes – translates to much higher interest rates and fees.

When you collaborate with Triumph Debt Relief, your debt resolution process will be taken care of, and the creditor will provide the necessary documents proving that the debt exists. Creditors often fail to provide proof, and as a result, the debt gets reduced or eliminated. But remember, this is not something that can (or should) be done alone. Continue reading to understand why.

Why You Should Not Do Debt Resolution On Your Own?

Debt resolution may look easy initially, but it is nothing less than a trap that can lead to severe consequences if not handled with caution. These are the reasons why the DIY approach can hurt you:

1. Insufficient Knowledge of Legal Requirements

Debt resolution requests are required to follow strict legal standards. Using incorrect language, missing a deadline, or misunderstanding your rights can prove detrimental to your pleas. On the other hand, professional debt relief consultants understand the law and its intricacies and can ensure that your rights will be fully protected.

2. Time and Stress

The process of dealing with the legal complexity of debt resolution is time-consuming and tedious. The amount of paperwork, follow-ups, and dealing with creditors can be taxing and divert your attention from other vital facets of your life, including your career or family. Triumph Debt Relief relieves you of this weight so that you can focus on what really counts.

3. Risk of Making Things Worse

Even a small mistake made by you in your debt resolution process can give creditors more collection time and increase the total owed amount. Debt relief professionals are equipped with tried and tested methods to deal with such cases and are more than capable of protecting against unforgivable mistakes.

4. Not All Debts Are Verifiable

Some debts, like those already under a court judgment, cannot be verified. Having the knowledge of which debts are worth verifying and which are not is very important, and this is where experience and expertise come in. Triumph Debt Relief can find out which debts can be contested and appropriately manage the verification process.

How Debt Resolution Saves You Money?

Now that you have learned why leaving debt resolution to experts is the right thing let’s find out how this process can save you money:

1. Eliminating Fraudulent or Unverified Debts

One of the best advantages of debt resolution is that it can prevent collectors from chasing debts they cannot legally verify. If a creditor fails to provide the necessary documents, the debt may be invalid. It means the debt can be wiped out completely, and you should avoid paying even a single penny. That’s why debt resolution is so powerful – it forces creditors to prove that you truly owe the money.

Real Life Example

Martha, one of our clients, came to us with a $15,000 debt. She swore that she did not recognize this debt. After starting with the debt resolution process, we found that this was a case of identity theft. The creditor failed to provide sufficient proof that Martha had borrowed the money. This helped us eliminate the whole debt, and she was able to save thousands of dollars.

2. Reducing Debts Through Negotiation

In case the debt is valid, the debt resolution process offers a chance to negotiate. When creditors fail to verify the debt on time, it can be negotiated that pursuing the whole amount can be more trouble than it is worth. This can result in significant reductions in the total amount owed.

Real Life Example

Chris, our other client, had a verified debt of $10,000. After sending the verification request, the creditor failed to meet the deadlines for proper proof. In negotiating on behalf of our client, we were able to settle the debt for just $4,000 – a savings of 60%.

3. Avoiding Collection Fees and Penalties

When a debt is successfully challenged through verification, creditors are less likely to tack on additional collection fees, penalties, or interest charges. This can save you hundreds or even thousands of dollars over time. With proper debt resolution processes, we make sure that you are not overpaying.

Leave the Debt Resolution Process to the Experts

Debt resolution is a powerful tool, but it can also backfire if not handled properly. If you make one mistake, you could end up paying much more than expected. Debt relief experts at Triumph Debt Relief ensure debt resolution works for you, not against you.