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If you are on this page, it is quite
possible that you are overburdened with debt. Maybe you are also
facing a hard time making monthly payments.
So what are your options?
Do I need to file bankruptcy?
Can anything be done about it?
Well, we have answers to all these questions. Before we give you
the various options you have, let us tell you something.
Every individual is different; similarly everyone's financial
situation is also different. So, which option is best for
you?
Let us first give you available options, then we will guide you
how to select one of the options.
Debt
Settlement
Debt settlement is a process of debt elimination for
less than the amount actually owed to the creditors. In this
process, you stop paying monthly instalments to your creditors
and instead save the money. When you have saved at least 50% of
the total amount, you start negotiating with your creditors for a
settlement. This process is also known as Debt Arbitration or
Debt Negotiation and it can be a good bankruptcy
alternative.
If you would like to read more about Credit card Debt
Settlement, Please click
here.
You may also contact us  to know if Debt Settlement is the
correct option for you.
Credit Card Debt Consolidation
Bankruptcy
There are two primary types of personal bankruptcy: Chapter 13
and Chapter 7. Each must be filed in federal bankruptcy court. As
of April 2006, the filing fees run about $274 for Chapter 13 and
$299 for Chapter 7. Attorney fees are additional and can vary.
Note that personal bankruptcy usually does not erase child
support, alimony, fines, taxes, and some student loan
obligations. And unless you have an acceptable plan to catch up
on your debt under Chapter 13, bankruptcy usually does not allow
you to keep property when your creditor has an unpaid mortgage or
lien on it. We are extremely confident that we can assist you
avoid bankruptcy. All you need to do is, contact us.
Consumer Credit Counseling Service
If you are not disciplined enough to create a workable budget and
adhere to it, cannot work out a repayment plan with your
creditors, or cannot keep a track of your monthly bills, consider
contacting a credit card debt settlement counseling organization
for credit card debt settlement. Many credit counseling
organizations are non profit and work with you to solve your
financial problems. Your financial institution, local consumer
protection agency, friends and family also may be good sources to
gain information about a reputable CCC organization.
Consumer Credit Counseling allows you to pay back credit card
debts at lower interest rates but you still pay back the full
debts plus interest. CCC will also not save you money on
collections and other unsecured debts. CCC also often will not
accept credit card debt which is late more than 60 days
Read
More
Do nothing and be in debt for life
Unfortunately, this is the worst we can do to get out of debt and
this is what most of us do. NOTHING. It is estimated that
majority of us are in financial trouble and many will do whatever
they can to continue making minimum payments for the rest of
their lives and stay in debt for ever.
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