You make decisions every day. Tall or Venti? White shirt or blue shirt? Burger King or McDonalds? As twenty first century Americans we are always on the go, multitasking and simultaneously running in five different directions. But sometimes it is imperative that you stop to take a breather and actually contemplate the decision you are about to make. When it comes to selecting a method for debt resolution, ‘meeny, meeny, miny, moe’ just isn’t going to cut it. After all, you don't want to be eating a Whooper while mulling over how much you would rather have a Big Mac.
To avoid 'buyers remorse' when choosing a solution to your debt negotiation , you must be realistic about your finances and your lifestyle. Depending on your situation, you may only need to cut back and make a budget, or perhaps you need a complete financial overhaul. It is wise to ask yourself three important questions. How much do I owe? Can I afford to make payments? How much time can I dedicate to debt resolution? Once you have determined these answers, it is time to research your options.
Bankruptcy, Debt Consolidation and
debt help are the main options for debt resolution for people who have a significant amount of unsecured debt. The laws regulating bankruptcy changed in 2005, making it more difficult for debtors to qualify. The two most common forms of bankruptcy are Chapter 7 and Chapter 13. Chapter 7 can wipe away all of your unsecured debts in a relatively short period of time. However, it is important to note that this will cost you over a grand to accomplish; that is, if indeed you qualify. If your income exceeds the maximum, you are rendered ineligible, even though you may be up to your ears in debt. Your only other option in terms of bankruptcy then would be to file Chapter 13. Chapter 13 is a repayment plan which can take five years to complete. If you are considering bankruptcy please consider the fact that it will remain on your credit report for up to ten years and on your public record forever.
It may be difficult to get that fresh start with the stain of bankruptcy on your record.
For those not willing to go to the extreme of filing for bankruptcy, there is the choice of debt relief. If you elect to solve your debt with debt consolidation, you will take out a loan to pay off all your other debts, thus combining all your bills into one payment. debt settlement loans usually have a lower interest rate, but they are also difficult for the average debtor to obtain. If you have poor credit or don’t own a home, you can pretty much eliminate this option. The biggest disadvantage to debt consolidation is that it doesn’t free you from your debt; it just reconfigures your debt.
Debt settlement is the best option for you to resolve your debts. You can learn more about our credit card debt settlement program by filling out our no obligation debt reduction form. When you enroll in our debt settlement program, you will stop paying multiple creditors, and pay one low monthly payment instead. Your personal debt settlement coach will handle all the contact with your creditors, and negotiate a lower balance which you will pay in full.
Other options for debt resolution are time consuming, expensive, ineffective or detrimental. Debt settlement is the best choice for debt resolution because you will have professionals handling your debt, allowing you to start the process of moving on with your life. Make the right decision today, by Fill out our free, no obligation debt settlement form. Let us help you become completely debt free in 12 to 36 months.