Bankruptcy should always be a last resort. It has long term effects on your credit rating, your emotions, and may impact your chances of getting a new job, a promotion, a loan, or insurance.
There are a number of alternatives that you ought to consider before you decide to file for bankruptcy. Anyone considering bankruptcy should contact a bankruptcy attorney.
Maybe you just need to have a lower monthly program payment to help make things more affordable so you can avoid bankruptcy, or maybe you need some help managing creditor calls.
If you truly want to avoid bankruptcy and find a bankruptcy alternative, then perhaps you should consider:
Debt Settlement – DebtRX offers a debt settlement program. Debt settlement is the most popular, fastest, and most aggressive route to settle debts and is one option to bankruptcy.
Credit Counseling – Consumer Credit Counseling (CCC) Programs are a common alternative to bankruptcy. Under a CCC program, your creditors may be willing to reduce interest rates, may stop collection calls, and waive over-limit or late fees. You will still be required to repay the full balance and you will continue to pay interest. But is also an option to avoid filing bankruptcy.
Debt Consolidation Loans – It may be possible for you to take out a single, larger loan and use that money to repay some of your smaller debts. This allows you to consolidate your debt so that you and make one smaller payment. The problem with debt consolidation loans is that you need really good credit, they often carry high interest rates, and in order to take out a large loan, you may have to use your home as collateral, which means that if you aren’t able to make the payments you may lose your home. This is also an option to avoid bankruptcy.
If you would like to learn more about Bankruptcy and why you might want to avoid bankruptcy, click bankruptcy. *
If you would like to avoid bankruptcy and find a bankruptcy alternative, debt settlement is one option to bankruptcy. *
* Anyone considering bankruptcy should contact a bankruptcy attorney
Debt Settlement Debt Negotiation works by negotiating the balance owed on your unsecured debt so the amount paid is less than owed. We design an affordable monthly savings plan and your savings are used to obtain a deal from your creditors.
Most likely, yes. Any time you are behind, with or without a program, you will receive calls. However, many creditors are accommodating. Additionally, calls may reduce after the original creditor receives a detailed hardship letter from you.
Debt Settlement or Debt Negotiations effect on your credit score will depend on your current credit status before starting any settlement program. Very few people with debt problems have perfect credit and debt settlement is meant to be a hardship program.
We are the Debt Rx and are one of the longest operating Debt Settlement and Debt Negotiation firms in America. We are not the largest, because our focus has been more on personal attention and service of existing clients than that of enrolling new ones.