Bankruptcy or Debt Settlement?

When you feel like you’re drowning in debt and your phone is ringing off of the hook with debt collector calls, you may start weighing your financial options. While many people rush to declare bankruptcy, ready for the pain associated with their irresponsible spending to be over as soon as possible, others are considering debt settlement.
Depending on your personal financial situation, there are positives to each. However, if you don’t choose the right one for you it could leave you with years of bad credit and the struggle of rebuilding your financial future, one step at a time.

When you file a bankruptcy, the process may seem incredibly simple. You file the forms and then the debt which can be discharged, is discharged. With debt settlement, you or a professional you work with (professionals on debt settlement are available at www.FeldmanLawCenter.com will negotiate with creditors and agree to payment terms. The amount agreed upon is a compromised amount, which can consist of a reduced total amount due or a reduction (or elimination in many cases) of interest rates.

By reducing or eliminating interest rates the consumer can pay off the debt in a much faster time. Often creditors agree to these terms because the account will be paid off in an average of three to four years, instead of twenty to thirty years most people need to pay off a normal credit card with a high-interest rate. Thus, the creditor is happy they are being paid and the consumer can move on with their financial future without the debt on their brain.
Those who desperately want to reduce their unsecured debt, figure out how to gain one affordable monthly payment and talk with someone who is one your side, should visit www.usadebtsettlement.org for more information.
There are many tax implications associated with debt settlement and bankruptcy. Thus, if you don’t go through the processes properly you could end up with a terrible credit score for up to seven years and with tax problems. So, talking to an expert is vital when you’re considering either bankruptcy or debt settlement. If you’re behind on your mortgage and want to consider loan modification, visit www.loanmodificationhelpcenter.org for more information. The free site offers homeowners the opportunity to learn foreclosure alternatives.

It’s vital to talk with a debt settlement professional or a financial lawyer to ensure you’re making the best choice for your personal financial situation. Because everyone’s financial situation is different, not every choice will be ideal for every consumer. These professionals can help you evaluate your debt, your income, your spending, help you create a budget, negotiate with creditors for you, take creditor calls, file appropriate papers for you and assist you in getting back on positive financial track for the future. Taking the time to seek advice before making a major financial decision is the best thing you can do for your financial future. One wrong move and you could find yourself in a worse situation than you already are in.
Login to post comments

The debt settlement experts at USA debt settlement.org have years of experience helping average people overcome their problems with debt.  Debt settlement is a way to create a plan to pay off your debt while negotiating with the lenders you owe money to.  Lenders may include credit card companies, banks, collections agencies, utility companies and more.  We can help you with your debt problems, including:


•    Credit Card Debt
•    Medical/Hospital Bills
•    Department Store Credit Cards
•    Oil/Gas Credit Cards
•    Personal Loans (unsecured)
•    Overdue Rent
•    Autos (Repos)s
•    Local Merchants
•    Past Due Utility Bills
•    And more!

How USA debt settlement.org Can Help


We are your advocate, helping you, informing and guiding you through the debt settlement process.  With our assistance, you can:


•    Reduce your unsecured debt
•    Have an advocate deal with your creditors
•    Arrange one affordable monthly payment
•    Complete the program in 12-26 months


With our help, countless people have gotten completely free from their unsecured debt and managed to change the way they live their lives.  No longer fearful of collection agency phone calls or terrified of bills piling up, people are able to enjoy a high credit rating and financial freedom.

USA Debt Settlement Resource Center


We don’t just guide you through the process; we supply accurate, in-depth information so that you understand what it is you’re doing and the benefits.  Articles, blogs, news stories and information sources are all available at USAdebtsettlement.org.  We are your partner throughout the program, and we invest our time, knowledge, experience and resources into you so that you can become a debt free individual.

The debt settlement experts at USAdebtsettlement.org have worked with countless people all across the country, walking them through our comprehensive debt settlement plan.
You can take advantage of the information, knowledge and debt settlement professionals at USAdebtsettlement.org by simply calling filling out our contact form today!