So, What Are My Debt Relief Options?

Listed below are the 5 different options to eliminate your Debt. The best method we suggest for Debt Relief is option #5 below: "Debt Settlement".

1) Bankruptcy: This is your last option for Debt Relief and also considered the worst. There are two options to file for bankruptcy; Chapter 7 or Chapter 13. Chapter 7 Bankruptcy allows you to pay off your debts by selling off your current assets which may or may not include your home. Chapter 13 Bankruptcy allows you to pay off your debts through a payment plan that is approved by a court-appointed trustee. We suggest that you avoid Bankruptcy and contact a Debt Settlement Consultant for free advice first. Or, simply starting to learn about Debt by subscribing to our
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2) The Do it Yourself Repayment Plan: This option is not for the un-disciplined. You will not use the advice or counsel of a debt professional. This Repayment Debt Relief Plan does work. All you have to do is budget and schedule your plan to pay off your debt slowly but surely.

3) Debt Management: This is where you lower your interest and waive off certain fees and even reduce the payoff time period. You would do this with the help of a credit counseling agency.

4) Debt Consolidation Loans: This is simply a consolidated single loan that replaces your multiple debts (credit cards, unsecured loans, and medical bills) and puts it into a manageble single payment. You will then only have to make a single payment to the new debt consolidation loan. The benefit of a debt consolidation loan is that you put yourself into a simple action plan to pay off all your debts with one payment.

5) Debt Settlement: With the assistance of your own appointed Debt Consutant, your debt is cut down to 40-60% of the current debt you owe. This benefit of this program is that you pay off your debt faster while saving money at the same time. The credit card companies then usually file a "settled debt" record with the credit report agencies which is much better than having a "bankruptcy" filed with the credit report agencies.