How Can I Use Debt Reduction Consolidation Services? Whether it be for education, for our first house, or for repairs, we all incur a heavy debt load from loans at some point in our lives. This debt needs to be repaid and that’s when we collect information on the best possible deal, which will ultimately burden us the least. Debt reduction services provide detailed counseling on debt management and credit education. These services aim at teaching people how to attain and maintain a debt free life. This is done by suggesting which debt programs to go for or when and what is the smartest way to take a loan and what repayment structure a given consumer should follow. Bear in mind that people providing this help are not the sales department; they are financial professionals. Their debt reduction techniques are much more aggressive than any other and are completely different than debt consolidation strategies. Bankruptcy chapter 7 and debt settlement are two major ways to eliminate debts. This ensures debt reduction in overall amount as well as quick repayment. In bankruptcy, you plead to the judge to supervise the liquidation of your left over assets to repay creditors. Most of the times, the bankrupt party is left with nothing but exempt property, which leaves nothing for creditors to recover. Hence, the amount of payments, the date, and time is up to the judge. He will also dispense of the bankrupt party's belongings. However, it is important to note that chapter seven is only possible under strict conditions. There is a good chance you may be ineligible. If you are, you should consider debt settlement. Debt settlement on the other hand has been around for a while. The mission is to consolidate the debt amount altogether by 40% or more, reducing the principle amount by 40%, which means you pay only 60%. Consolidation services can save you up to 30%- 45% of what you owe, but it can’t exceed the three-year limit. Make it a top priority to eradicate your unsecured debt as well, when you opt for consumer credit counseling. Get rid of your debt today by signing with the right debt company.