Today’s recent college graduates are in an incredibly vulnerable state. In the current economic climate, it can be stressful and intimidating to think about getting a job and moving out into the world to start a completely independent life. Add to that a mountain of debt from school, and it gets even more stressful.
Most Americans who have attended a 4-year college will graduate with more debt than they can handle. That’s why United Debt Counselors (“UDC”) wants to help get each graduate back on track with a personalized program with the goal of squashing credit card debt before it becomes a giant problem. Here’s what college graduates can do with UDC to work towards settling mounting and unaffordable debt:
Meet with a UDC Representative
For a lot of recent college grads, it can be hard to know who to trust. There are so many scams out there promising ‘loan forgiveness’ and preying on vulnerable young adults who will do anything to escape their debt.
UDC is here to help. Not only do representatives explain the company’s debt relief program over the telephone, but also prior to a consumer enrolling, a representative meets with the individual to explain the material terms and risks associated with the program. Everything is discussed up front so there are no hidden fees or surprise charges for service.
Figure out how to save
After an initial consultation, a UDC representative will work with clients to figure out how to start saving money to put toward debt repayment. It doesn’t have to be a lot at first, just enough to start building up each month. By the time there’s enough money saved up toward settling a particular debt, a new negotiation will be underway.
Repay the first loan
After enough money has been saved up, a UDC representative can approach the first creditor and offer either a lump sum payment or settlement terms. Then, once the first debt has been settled, the process begins again. It’s that easy. UDC doesn’t offer any magical plan to wipe away debt; what it offers is much more valuable. For college students just entering the working world, saving can seem like an impossible thing. It’s hard enough to keep track of loans, work a job, and pay the rent at the same time. UDC works with you to devise a plan for your financial future while keeping your debt under control.
UDC’s debt relief program is designed to create saving habits for clients where they learn to set aside funds for future expenses. The system of setting aside funds to apply toward loan repayment, settlement and UDC’s program fees should hopefully continue forward in helping the individuals reach other financial goals in life, such as saving up for a down payment on a house, a car, or continuing education.
Disclaimer: INDIVIDUAL RESULTS MAY VARY BASED ON ABILITY TO SAVE FUNDS AND COMPLETION OF ALL PROGRAM TERMS. PROGRAM DOES NOT ASSUME OR PAY ANY DEBTS, NOR PROVIDE TAX OR LEGAL ADVICE. CONSULT WITH YOUR PROFESSIONAL ADVISORS AS NECESSARY. PROGRAM NOT AVAILABLE IN ALL STATES, PLEASE REQUEST, READ AND UNDERSTAND ALL PROGRAM TERMS PRIOR TO ENROLLMENT. IMPORTANTLY, EACH PROGRAM OPTION HAS ITS OWN PROS AND CONS. DEBT SETTLEMENT PROGRAMS LIKE BANKRUTCY WILL NEGATIVELY IMPACT CREDIT SCORE. CREDIT COUNSELING PROGRAMS ARE OFTEN LESS AGGRESSIVE AND FOCUS ON FULL PRINCIPAL REPAYMENT IN CONJUNCTION WITH CREDITOR AGREEMENTS. FAILURE TO TIMELY PAY DEBT MAY RESULT IN A DECREASE IN CREDITWORTHINESS AND INCREASE IN DEBT OWED DUE TO INTEREST AND FEES.
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