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Nationwide Financial Services

Your Debt Management Options

You have many choices when it comes to debt management. Below you will find a description of the most popular options and a breakdown of the benefits and risks associated with each.


Credit counseling involves assisting financially distressed individuals with managing their debt through education programs and budgeting tools. Enrollees are often placed into Debt Management Plans managed by credit counseling agencies which distribute payments on the debtor's behalf. Many of these programs are free however there may be fees depending on the services provided.


  • Consolidates payment
  • Can lower interest rate


  • Does not reduce debt
  • Loss of credit cards


Debt consolidation programs combine the balances of several loans into one new loan with a new lender at a single interest rate. Qualifying for a consolidation loan can require higher borrower credit scores and oftentimes lenders will ask for loan collateral, such as your home or personal possessions, in exchange for taking on the risk. If no collateral is available a borrower may not qualify or may take on a higher interest rate.


  • Single monthly payment
  • May lower interest rate
  • Reduced credit impact


  • Does not reduce debt
  • Credit/collateral requirement
  • Not great for large debts


Debt settlement is one of the most popular debt relief strategies available today, and is what we specialize in at Alleviate. In a debt settlement program an enrollee makes monthly deposits into a trust account. As these funds accumulate the debt settlement firm negotiates settlements with your creditors which are often significantly less than the balance owed. Each debt is systematically targeted until the client is debt free.


  • Affordable monthly payment
  • Significant long-term savings
  • Faster than minimum payment


  • Some accounts may not qualify
  • Must be in financial hardship
  • Creditor lawsuits and calls


Bankruptcy is arguably the most drastic of all the debt relief strategies available to consumers. The United States bankruptcy process effectively allows debtors to get a "fresh start" by legally declaring themselves unable to repay outstanding debts and liquidating some assets to satisfy creditors. Chapter 7 and 13 are the most common types of bankruptcy used by individuals, however any form of bankruptcy will have a long lasting derogatory effect on creditworthiness.


  • Fastest strategy available
  • Limits creditor actions
  • Most debts can be discharged


  • Long-lasting credit damage
  • Loss of credit cards
  • Liquidation of assets


Minimum payments is the most conservative option available to modern debtors. When making minimum payments on debt a borrower is maximizing the profits paid to the creditor. A minimum payment strategy is only recommended as temporary measure to get through a tough financial stretch as the total debt is reduced at the slowest possible rate. Debtors who routinely find themselves making minimum payments should seek another debt relief option.


  • No creditor calls
  • Lower credit impact
  • No late fees


  • Long payoff time
  • High interest payments
  • No loan value reduction

Our mailing address is: Nationwide Financial Services, 1808 Aston Lane, Carlsbad, CA 92008

DISCLAIMER: Read and understand the program before enrollment. Our program is unavailable in all states and fees may vary from state-to-state. We do not guarantee your debts will be resolved within a specific time or for a particular amount or percentage. Not all clients are able to finish their program for various reasons, including an inability to save enough funds. Estimates are based on actual prior results, which will always vary depending on your specific circumstance, including your enrolled creditors and program terms. Using debt settlement services will likely adversely affect your credit, may subject you to collections or lawsuits by creditors or collectors, and may increase the overall balances of your enrolled accounts due to accrued interest and fees. We do not assume your debts or make monthly payments to your creditors. We do not provide tax, bankruptcy, accounting, legal advice or credit repair services. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution.

*These results may vary on an individual basis.

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