Debt Solutions - Better Opportunities For Getting Out of Debt Than Bankruptcy
Why debt settlement is considered a better option as compared to bankruptcy? There are many points involved.
Just read ahead and know more and understand why you too stand to gain a lot if you rely on this debt relief option instead of directly filing for bankruptcy.
For the pessimists, the fact that you can go in for bankruptcy even after you have filed for debt settlement is a big relief.
This means that if you are still insisting that bankruptcy is the best way to proceed, you are most welcome to file for the same and get rid of your debts.
Hence, settlement, in no way, makes it difficult for you to go in for bankruptcy.
Of course, the bankruptcy court may always take your settlement into consideration and insist that you go in for chapter thirteen bankruptcy.
However, you certainly will get freedom from all the stress and pressure put buy the creditors and credit card companies.
That is probably the only benefit that you will obtain out of your decision to go in for a bankruptcy.
Secondly, debt settlement helps you retain all your assets.
If you own a house or vacation property in a very good location, then you will be forced to sell it off to repay your debts.
This may sound like a very good deal.
However, you cannot even dream of buying another house or property in the same location.
This is because you will be classified as a high risk customer for the next 10 years and you will be offered high interest loans only.
Hence, you will have to start the process of asset accumulation all over again.
Do not underestimate the difficulty involved in this task.
People spend a lifetime building their own house or accumulating property.
Everything can be lost in a jiffy just because you file for bankruptcy.
On the other hand, debt settlement gives you a fighting chance of retaining control over your assets.
As long as you have sufficient cash to pay the house mortgage, you can manage the credit card debts by bringing it down by more than50%.
This should be enough to help you overcome the problem very quickly.
Thirdly, debt settlement gives you a chance to improve your credit score on your own terms.
If you want, you can wait for 7-8 years for the credit report to improve on its own.
Or you can employ professional debt settlement services to find the right relief and remedy.
Just read ahead and know more and understand why you too stand to gain a lot if you rely on this debt relief option instead of directly filing for bankruptcy.
For the pessimists, the fact that you can go in for bankruptcy even after you have filed for debt settlement is a big relief.
This means that if you are still insisting that bankruptcy is the best way to proceed, you are most welcome to file for the same and get rid of your debts.
Hence, settlement, in no way, makes it difficult for you to go in for bankruptcy.
Of course, the bankruptcy court may always take your settlement into consideration and insist that you go in for chapter thirteen bankruptcy.
However, you certainly will get freedom from all the stress and pressure put buy the creditors and credit card companies.
That is probably the only benefit that you will obtain out of your decision to go in for a bankruptcy.
Secondly, debt settlement helps you retain all your assets.
If you own a house or vacation property in a very good location, then you will be forced to sell it off to repay your debts.
This may sound like a very good deal.
However, you cannot even dream of buying another house or property in the same location.
This is because you will be classified as a high risk customer for the next 10 years and you will be offered high interest loans only.
Hence, you will have to start the process of asset accumulation all over again.
Do not underestimate the difficulty involved in this task.
People spend a lifetime building their own house or accumulating property.
Everything can be lost in a jiffy just because you file for bankruptcy.
On the other hand, debt settlement gives you a fighting chance of retaining control over your assets.
As long as you have sufficient cash to pay the house mortgage, you can manage the credit card debts by bringing it down by more than50%.
This should be enough to help you overcome the problem very quickly.
Thirdly, debt settlement gives you a chance to improve your credit score on your own terms.
If you want, you can wait for 7-8 years for the credit report to improve on its own.
Or you can employ professional debt settlement services to find the right relief and remedy.
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