When faced with huge debts and the inability to repay them the best way out is to opt for a settlement program. Nowadays along withsettlement programs, many settlement companies offer credit counseling free of cost. They provide this free advice as a promotional tactic. Along with these companies, there are many networks which provide free settlement advice. If a debtor hires the professional services of a settlement company, he or she does not have to deal with the creditors any more. But if he or she simply takes the free advice offered by either settlement companies or networks, then he or she has to negotiate and settle with the creditors.
The benefit of taking free settlement advice is that it arms the debtor with important knowledge needed during the process of debt settlement. A debtor comes to know of his/her rights as a consumer. Moreover, this advice also guides the debtor on how to take the maximum benefit out of the settlement program. Due to this advice a debtor is armed against the unfair and at time unlawful tactics of some creditors.
The free guidance provided by debt settlement companies and non profit networks also helps the debtor to avoid debt in the future. The financial experts at the settlement company of relief network help the debtor to formulate a budget plan based on his her actual financial situation. They also guide the debtor on how to increase his or her income and savings. Information about these settlement companies and debt relief networks is available online. Most companies and networks offer credit counseling online, but some do so only on the phone or in person. By using this advise the debtor can get out of debt easily.