Facing overwhelming debt and unsure which path to take? In this episode of The Debt Hotline, Hannah sits down with James Lambridis, founder and CEO of DebtMD, to break down three of the most popular debt relief strategies and help you choose the right one for your situation.James brings five years of hands-on experience talking to people struggling with debt—from $10,000 to over $100,000 in credit card balances. His insights reveal that most people are misinformed about their options and need clear guidance to move forward.Sued for debt? Visit https://www.solosuit.com/?utm=podcast to resolve it.In this week's episode of The Debt Hotline, you'll learn:The three main debt relief options: consolidation, credit counseling, and settlementHow to know which strategy fits your financial situationRed flags to avoid when choosing debt relief companiesTax implications of settled debt that companies often hideReal advice for listeners dealing with $9,000 to $40,000+ in debtKey takeaways from James Lambridis:Debt consolidation only makes sense if you get a lower interest rate than current debtsCredit counseling provides modest savings with nonprofit guidance and structured payoff plansDebt settlement requires defaulting but can dramatically reduce what you oweNever work with companies that charge upfront fees or guarantee specific resultsForgiven debt over $600 becomes taxable income, so you should plan for this at tax timeHannah and James tackle real listener questions, including advice for someone barely making minimums on $38,000 across five cards, a person worried about debt relief scams, and adult children helping retired parents navigate $40,000 in debt.The bottom line: There's no shame in owing money. The key is choosing the right strategy for your situation and working with legitimate professionals who charge fees only after delivering results.To connect with James and DebtMD, you can visit www.debtmd.com and use their Smart Debt Analyzer tool, which asks about your debt types, amounts, and goals to connect you with the right professionals for your unique situation.To submit a question to The Debt Hotline, you can:Call (801) 613-8181 and leave a voicemailFill out this form: https://forms.gle/28gd4XFsq6ybN4Qu8Send an email to [email protected]

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