Reduce Your Unsecured Debt by 60% - Take a Lower Credit Score - Is it a Fair Trade?
Reducing your unsecured debt is a serious issue.
Apart from the fact that you must be stressed out even while reading this article, you also have to be torn apart between decisions.
Many articles describe the stress involved with any debt relief activity, but frankly, there are more important parts that need to be taken into consideration.
One of these is taking the right decision.
In mathematics, there is a discipline called decision theory, and a small part of it describes precisely how to take a rational decision in times of crisis, just like this one.
Moving out of debt is your main goal - and what you need to decide upon, is your strategy.
You might not be sufficiently prepared to hold this battle on your own, however, there are always options - you can always choose the perfect solution for you.
And this is precisely what you need to do - you need to learn of your decision and pick the one that is most appropriate for your case.
Not to mention the fact that if you want to diminish your debt with 60% all you have to do is follow one of the solutions described below:) There are two options for moving out of debt.
The first one is to declare bankruptcy.
With this option you will be sure to get rid of your debt.
But it comes along with a lot of strings attached.
The other option is to go in for a debt settlement.
Let us examine both the options and see which one is better.
What is bankruptcy? It is a legal procedure to declare you bankrupt.
The court will appoint an official to take charge of all your assets.
The assets will be put up for auction.
With the money collected from the auctions all your liabilities and unsecured debt will be cleared.
However the procedure will leave you gasping for the rest of your life.
It will damage your credit score for as long as a decade.
It will be almost 10 years till such time you become eligible for a loan.
In case of a debt settlement you need to negotiate with the credit card company.
They are willing to reduce your unsecured debt by 60% if professionals negotiate with them.
After the waiver your balance amount can be paid in easy installments in two to three years.
The credit card company will reduce your unsecured debt by 60% since you will be making a lump sum payment for the balance amount.
By going in for a debt settlement you will also keep your credit score relatively good.
Apart from the fact that you must be stressed out even while reading this article, you also have to be torn apart between decisions.
Many articles describe the stress involved with any debt relief activity, but frankly, there are more important parts that need to be taken into consideration.
One of these is taking the right decision.
In mathematics, there is a discipline called decision theory, and a small part of it describes precisely how to take a rational decision in times of crisis, just like this one.
Moving out of debt is your main goal - and what you need to decide upon, is your strategy.
You might not be sufficiently prepared to hold this battle on your own, however, there are always options - you can always choose the perfect solution for you.
And this is precisely what you need to do - you need to learn of your decision and pick the one that is most appropriate for your case.
Not to mention the fact that if you want to diminish your debt with 60% all you have to do is follow one of the solutions described below:) There are two options for moving out of debt.
The first one is to declare bankruptcy.
With this option you will be sure to get rid of your debt.
But it comes along with a lot of strings attached.
The other option is to go in for a debt settlement.
Let us examine both the options and see which one is better.
What is bankruptcy? It is a legal procedure to declare you bankrupt.
The court will appoint an official to take charge of all your assets.
The assets will be put up for auction.
With the money collected from the auctions all your liabilities and unsecured debt will be cleared.
However the procedure will leave you gasping for the rest of your life.
It will damage your credit score for as long as a decade.
It will be almost 10 years till such time you become eligible for a loan.
In case of a debt settlement you need to negotiate with the credit card company.
They are willing to reduce your unsecured debt by 60% if professionals negotiate with them.
After the waiver your balance amount can be paid in easy installments in two to three years.
The credit card company will reduce your unsecured debt by 60% since you will be making a lump sum payment for the balance amount.
By going in for a debt settlement you will also keep your credit score relatively good.
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