Credit card issuers may offer debt consolidation or interest holiday as debt relief.
Before you go in for the same, you have to check whether these relief options are popular and effective or not.
Just because a large number of individuals opt for this solution does not mean it is popular.
Its popularity will have to be judged from its effectiveness.
If a large number of individuals opt for this solution and end their debt problems, then and then only can this debt relief option be called a good one.
On the other hand, if people opt for bankruptcy even after they have gone in for these debt relief programs, then it is not a good one, is it? A lot is said about the flaws and fallacies of the success of settlement.
Critics point out that the success rate of debt settlement is very low.
Only 40% of those who opt for a settlement deal actually completed.
Needless to say, these are very startling and worrying figures.
However, if one analyzes the figures in detail, one realizes that the primary flog lies in the fact that people are not disciplined enough to completed settlement.
Repaying $100,000 in a span of 3 years may not be easy.
However, repaying $40,000 after getting a 60% discount in a span of 36 months is not easy as well.
Most of us forget that completing debt settlement deal can be very difficult.
What is more, the debt settlement expert becomes helpless here because nobody can teach you to be disciplined.
It is something that you will have to inculcate on your own.
If one removes this factor and if one focuses on all debt settlement instances where the borrower has been disciplined in making regular deposits into the escrow account, we realize that debt settlement and its success percentage rises drastically.
This means that those who put in real effort and try to overcome their debt problems using settlement get debt relief very quickly.
This is what makes debt settlement the best performing debt relief option in the market.
You can find statistics, information, criticism and analysis of the various debt relief options on the World Wide Web.
You just have to log on to the resources and make use of the same.
What is more, you can make use of networks and firms that will provide the right debt relief service suited to your requirements.
As long as you have an open mind and use your common sense, you will definitely land up at the most efficient and best performing debt relief option.