Did You Know?
You can cut your debt in half, lower your monthly payments, and be debt free in 3 to 5 years?
Avoid Bankruptcy!
Lower monthly payments!
Free Consultation!
You can cut your debt in half, lower your monthly payments, and be debt free in 3 to 5 years?
Avoid Bankruptcy!
Lower monthly payments!
Free Consultation!
Debt Settlement or Bankruptcy?
With the changes in the bankruptcy laws it is much more difficult to discharge your unsecured debts. The first thing the bankruptcy court looks at is your income and if it is above the “mean” income for your area, you'll likely have to file a Chapter 13 Bankruptcy rather than a Chapter 7.
In a Chapter 13 Bankruptcy, they look at your disposable income. They decide what expenses are necessary, then they determine the amount you must repay your creditors over a five your program. They are likely to have you eliminate expenses you think are necessary, but they think are unnecessary. The amount you are given to live on is not much. The amount you must repay is often much more than you would have had to pay in a debt settlement program, and you end up with a bankruptcy on your credit report.
A Chapter 13 is good for someone who is behind in house payments, and needs some time to catch up back payments to avoid foreclosure, but for unsecured debts like credit cards, personal loans, medical bills, etc., debt settlement is usually a better option.
Our “Qualified Debt Settlement Program” is one of the best programs for those who are considering bankruptcy. We make sure you have enough to pay all of your living expenses and other secured debts before we begin the calculations to determine the amount you will repay your creditors. If your financial situation changes during the program we will adjust your payments to make sure they are always affordable.
One of the criticisms of debt settlement is that it hurts your credit rating, but if you are buried in debt, getting new credit is almost impossible and will only lead to more problems. Getting out of debt with an affordable program is more of a common sense solution for this situation. Once your accounts are paid your credit begins to improve almost immediately. Approximately 30% of your credit rating is based on debt to income ratios. After a year or so of completing the program your credit rating is usually back in a normal range.
For a free evaluation regarding your debt settlement, please fill out our request form to be contacted by one of our friendly counselors. You are under NO obligation and any information you provide is held in the strictest confidence.
