Options
There are 4 options which are listed below. Although none of them are easy choices to make, our knowledgeable program advisors can and will help educate you about the option that is best for you.
Option 1 – File Bankruptcy
There are two main options offered by the U.S. Bankruptcy code. For some, filing chapter 7 bankruptcy offers the opportunity to discharge unsecured debts. For others, filing chapter 13 bankruptcy offers the chance to repay secured debts like their mortgage over time. In order to make the best decision for your situation and financial future, you need to educate yourself about all your options for filing bankruptcy.
A bankruptcy may remain on your credit record for 7-10 years and may seriously affect your ability to rebuild your credit. Even after a bankruptcy has been removed from your record you may still be required to disclose it on forms and applications, even applications for employment. This is not a decision to be taken lightly. Only a licensed attorney can properly advise you on bankruptcy and whether it is right for you. Debt settlement companies give you some limited, general information, but you should always discuss this option with your attorney.
Option 2 – Do Nothing
While doing nothing is an option, it is not a practical one. However, a significant number of consumers do just that, which only complicates your particular financial situation.
Option 3 – Credit Counseling
With Credit Counseling you make a single monthly payment to a credit counseling agency. That agency then distributes the money to the creditors on your behalf, ideally at lower interest rates. There are numerous problems with this approach and in recent years Credit Counseling has come under heavy criticism from impartial consumer groups and government regulators. One of the most misleading aspects of Credit Counseling is the “non-profit” status of most agencies. Just because an organization says it is “non profit,” there is no guarantee that the services provided are free, affordable or even legitimate.
Option 4 – Debt Settlement
In today’s economy consumers are demanding the most effective means to resolve outstanding unsecured debt. Debt Settlement offers you an honorable solution. If you are having trouble with or cannot afford your current monthly payments, debt settlement may be your best option.
Fill in the Request Information form at the left to request a call from one of our professionally trained staff to get started settling your debt today!