There are several options you have when it comes to evaluating your financial situation. You will find below some of the options that are available to you. You should understand their options completely in order to make an informed and well-educated decision based on your own individual situation.

Bankruptcy

While bankruptcy is a legitimate route to get out of debt, it can negatively affect your credit for as long as 10 years and can be a very unpleasant experience emotionally. You shouldn’t consider bankruptcy as a simple “quick fix” to all of your financial problems, but rather as one of the many available solutions you may have given your individual situation. In October 2005, new congressional legislation made filing for bankruptcy more difficult and burdensome. A Chapter 13 bankruptcy could result in higher monthly payments and may last longer than an alternative debt resolution program. If you have questions about bankruptcy or are considering it as an option, we advise you to speak directly to an experienced bankruptcy attorney licensed in your state.

Consumer Credit Counseling

Consumer Credit Counseling is an alternative for consumers experiencing financial difficulties and unable to make their minimum payments. These organizations act as an intermediary between you and your creditors. However, Consumer Credit Counseling organizations typically attempt to reduce interest rate and fees on your debts, not the balances themselves. Through the reduction of fees and interest, Credit Counseling will typically allow you to get out of debt in about five years (each individual circumstance is different). However, you will end up paying back 100% to 120%  of your balance plus interest, which will require a significantly higher monthly obligation than a typical debt settlement program.

With that being said, a CCC program may be a viable option for those with under $10,000 in unsecured debt, are able to afford higher monthly payment obligations, and are well disciplined to remain in the program.

Debt Consolidation Loan

This option may work financially if you have at least an above average or good credit rating and considerable equity in your home. If you have a very large debt balance and have been late on just one monthly payment, it is likely that your credit may be impaired. Also, with this option, you do not reduce or settle your debt to a lower amount than the original balance; you are only transforming it from unsecured debt to secured debt.

Debt Consolidation is right for some people - especially those that are not at risk of falling behind on their new consolidation loan and who have the discipline not to charge back up the credit cards that now have empty balances and available credit. However, if you are struggling to make your payments, you should consider debt reduction, not debt consolidation. This way you are dealing directly with the problem, not temporarily avoiding debt problems.

Continue Minimum Monthly Payments

Unfortunately, millions of Americans who are struggling with their debts continue to just barely make their monthly payments. This option could take over 30 years to pay back the debt you owe, costs thousands of dollars in interest alone, and could require you to potentially pay back over three-times what you now owe on these balances. This may be the least timely, most costly, and most economically disadvantageous way to get out of your unsecured debt. Keeping high balances on your credit cards may affect your credit in a negative way and could make it more difficult to obtain any other type of loan.

OR

DEBT SETTLEMENT

Debt Settlement (also known as Debt Negotiation) has proven to be the most cost-effective option to pay off your debts and relieve you of having to file bankruptcy. It is a proactive approach for people experiencing the stress of too much debt. We understand the stress and struggle of living with an overwhelming amount of debt, and our goal is to reduce and consolidate your debt so that you can begin living the lifestyle you`ve been dreaming about…being debt free! If you`re simply paying minimum monthly payments, then surely it feels like you are getting nowhere. Our program is individualized for each customer`s personal and financial situation and level of debt in order to make the process as quick and affordable as possible.

The negotiation process has been tested and developed over several years of experience by our team of the best professionals in the industry. Through the established relationships that we have with the creditors and financial institutions, we are able to successfully negotiate the debts of our customers at a substantial discount. Creditors are willing to negotiate a debt with The Debt Counseling Center, on behalf of our customers, with the understanding that the settled amount will be paid in a timely manner. Furthermore, creditors are always looking to avoid the ineffective and costly efforts of an outside collection company. Additionally we have relationships with the collection companies as well and are able to deal with them effectively as well. We are continually developing our network of creditor relationships which we then use to your advantage.

Debt settlement is a legitimate way of solving your problem without the need for bankruptcy. Our debt settlement specialists work each case individually to determine your eligibility and then, if you qualify, they will establish a program that allows repayment of the debt through affordable monthly payments. This approach reduces your debt vs. other consolidation options. Our approach assists you by reducing the time to repay the debt and by lowering the total amount you owe.

At this point you would have to ask yourself:

If I File Bankruptcy, would I want that on my credit for up to 12 years?
Between Debt Counseling and Debt Settlement, why would I want to pay back more than 100% of my debt at a higher monthly payment,
when I can pay a lower payment and only have to pay back a small portion of my balances?

                      The process is simple and hassle free. Simply call 
                               Beata at 888-443-3280 Ext 212  or simply