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All across the U.S., people are in staggering amounts of debt. Whether it’s mortgages, student loans, car loans or personal loans, most Americans have some combination of these debts. According to a CNBC article, the average American currently has $38,000 in personal debt alone, not including mortgages. These are shocking debt statistics which hold true across all age groups. For example, here is the average amount owed, be age, according to the same article:
- Young Millennials and Gen Z (18-24): $22,000 (student loans are highest source of debt)
- Older Millennials (25-34): $42,000 (credit cards are the highest source of debt)
- Gen X (35-49): $39,000 (mortgages are the highest source of debt)
- Baby Boomers (50+): $36,000 (mortgages are the highest source of debt).
The fact of the matter is that most Americans are in some form of debt. With creditors calling and paperwork piling up, it can seem like there’s no end to the debt cycle. It can be scary and confusing once bills start slipping or get higher and higher. It can seem like you’re alone and that no one can help you stop all of the stress. That’s where Debt Genius — a debt relief and resettlement agency from New York — comes in. Debt Genius can partner with you against the creditors to help you find debt relief.
Debt Genius Review: How Does it Work?
Basically, Debt Genius calculates your debt and then renegotiates it with the help of the company’s partners. Some of its tax relief specific services include: payroll tag negotiation and IRS tax debt reduction.
Good to Know
There are a few things to know about how Debt Genius works to get you debt relief. This is a quick Debt Genius review of their process, so you can better understand how the company operates.
Your Financial History
The first step to debt relief is to contact Debt Genius. You will need to discuss what type of debt you have, essentially updating Debt Genius on your money-related past. This could include: money history, lending history and also paid and outstanding bills. The goal of this is so that Debt Genius can find the right solution for your situation.
Once Debt Genius has your financial history, then they can work on finding you savings. They will provide you with a free savings estimate. This is an important number to consider when weighing whether to sign up with Debt Genius or not.
First, click the “Get Started” button on the Debt Genius website. Then enter your personal information so that Debt Genius can get a better idea of the type of help you need. Make sure to include the kinds of debt you have, along with any other pertinent details involving money that you owe. The more that you include, the better Debt Genius can help you. Once you’ve enrolled with Debt Genius, then they can help you with negotiate creditor settlements until the debt is gone. It’s as easy as that.
Debt Genius Pros
No Debt Genius review would be complete without discussing some of the pros and cons associated with the company and their services. Here are a few things to consider:
1. Partners with You Against Creditors
Dealing with creditors can be a really scary experience. Not to mention the paperwork might be quite extensive and convoluted. Technical terms can be difficult to understand for someone who hasn’t been involved with financial business before. That’s where Debt Genius shines. Debt Genius becomes your partner, helping you to negotiate debt against creditors. Don’t go through this process alone — there’s no need to when Debt Genius exists.
2. Quick Startup
Many people don’t know where to start, or don’t want to start clearing debt if it is just going to take ages, with stress piling up over weeks, months, and years of trying to get rid of the debt. Instead, Debt Genius helps you get started quickly, with some customers beginning their path to debt relief in just a few days. That’s great news for those looking to get clear of debt faster.
3. Free Savings Estimate
Debt Genius offers a free savings estimate so those interested can better understand their current financial situation and their potential future situation with Debt Genius. It’s also a great motivator to know that there is a way to get help and put a savings number toward any debt relief goal.
4. No Upfront Fees and No Obligation
Debt Genius does not charge upfront fees. They also do not charge for their savings estimate of your financial situation. There’s no obligation to sign with the company after hearing the estimate. This means that there’s nothing to lose by contacting them.
Debt Genius Cons
No Debt Genius review would be complete without also exploring the cons of the company. Here is the only one we found:
Not Much Information
There is not much information available about Debt Genius, beyond what we’ve found here. To find out more information about the company or their services, you must enter your email. That could be a huge con to those looking for information without giving out personal details.
Debt Genius may be an excellent solution for anyone stuck in a debt spiral. If you don’t know who to turn to or need help to understand your situation and visualize a way out of debt, then Debt Genius may be a great choice. Without any upfront fees or obligation after their free savings estimator, you don’t have anything to lose by trying them out.
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