Credit Card Debt - Bankruptcy - How Can Debt Settlement Help You Avoid Financial Disaster?
Why is bankruptcy considered a disaster as far as ones finances are concerned? Well, the credit history and the credit report takes a huge hit and lenders will simply refuse loans or will charge very high interest rates for a person who has file for bankruptcy in the past.
Secondly, it is a blot that shall remain on your head for your entire life.
You will have to confess every time you are asked whether you have opted for bankruptcy in the past or not.
Thirdly, it is not a very pleasant transaction.
The creditors will have complete knowledge about all your assets and other property that you have purchased till date.
Everything will be sold off except for exempt assets and you will have to start all over again.
The search for alternatives for bankruptcy has been a very long one.
However, it was only recently that people finally discovered a solution that will help them overcome the complication.
The solution is known as debt settlement.
You just have to get in touch with your lender, explain your position and request 50% to 60% discount on the total amount owed.
If this sounds too high, always keep in mind that the lender will lose 90% to 95% of the total debts owed when bankruptcy is filed.
That means the creditor will lose a lot of money on the total amount loaned.
The property purchased with the help of secured loans will be utilized to repay the secured debts.
The unsecured lenders usually suffer the most.
By getting a settlement of from their side, the individual cannot only reduce the unsecured debt but also end up with more cash in hand to repay the other debts in a prompt manner.
Debt settlement can be done without any public disclosure of your finances.
You just have to get in touch with the lender and carry out negotiations.
If you want, you can go through a professional debt settlement company.
Not only will this help you get expert advice, it will also put you in a position where you have to sit back and enjoy the benefits without suffering any stress.
You can even divert your debt collection calls to the debt settlement company.
It all depends on the amount of fees that you are prepared to pay.
Considering the benefits involved, it is obvious that debt settlement is a fantastic alternative to the problem of bankruptcy and other financial issues.
Secondly, it is a blot that shall remain on your head for your entire life.
You will have to confess every time you are asked whether you have opted for bankruptcy in the past or not.
Thirdly, it is not a very pleasant transaction.
The creditors will have complete knowledge about all your assets and other property that you have purchased till date.
Everything will be sold off except for exempt assets and you will have to start all over again.
The search for alternatives for bankruptcy has been a very long one.
However, it was only recently that people finally discovered a solution that will help them overcome the complication.
The solution is known as debt settlement.
You just have to get in touch with your lender, explain your position and request 50% to 60% discount on the total amount owed.
If this sounds too high, always keep in mind that the lender will lose 90% to 95% of the total debts owed when bankruptcy is filed.
That means the creditor will lose a lot of money on the total amount loaned.
The property purchased with the help of secured loans will be utilized to repay the secured debts.
The unsecured lenders usually suffer the most.
By getting a settlement of from their side, the individual cannot only reduce the unsecured debt but also end up with more cash in hand to repay the other debts in a prompt manner.
Debt settlement can be done without any public disclosure of your finances.
You just have to get in touch with the lender and carry out negotiations.
If you want, you can go through a professional debt settlement company.
Not only will this help you get expert advice, it will also put you in a position where you have to sit back and enjoy the benefits without suffering any stress.
You can even divert your debt collection calls to the debt settlement company.
It all depends on the amount of fees that you are prepared to pay.
Considering the benefits involved, it is obvious that debt settlement is a fantastic alternative to the problem of bankruptcy and other financial issues.
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