People who call or visit NDD offices to seek assistance have legitimate financial hardships, especially in regard to debt repayment using traditional debt management plans offered through Consumer Credit Counselling agencies and bankruptcy filing. The Consumer Credit Counselling agencies have become less desirable because they work for banks. Statistics indicate that about 50% of all consumers who use Consumer Credit Counselling service strategies fall by the wayside without completing the program.
As you may be well aware, filing for bankruptcy can greatly impact on your credit. For instance, under the Fair Credit Reporting Act, bankruptcy filing can remain stuck in your credit report for up to 10 years. The debt consolidation route, on the other hand, is preferred by many people, even though it is not a perfect solution for loan repayment if you consider the long term. The process works by allowing the lender to offer a loan at reduced rates compared to the one a you are currently paying. The services offered by Nationwide Debt Direct cover business debt, financial planning, counseling and debt management.