| |
Bankruptcy is often viewed as the easy way out of debt, but there can be severe emotional and long-term financial consequences. Our debt settlement program is designed to reduce both the emotional and financial stress that you face by, in most instances, negotiating the amount you owe down by 40 to 60%. Most people can complete our program in about 36 months.
Is It Time For You To Seek An Alternative To Bankruptcy?
If 5 or more of the following situations are true for you then you should seek an alternative to bankruptcy. Every case needs to be treated differently, on an individual basis, so please contact one of our debt consultants to discuss your options:
| |
• You have depleted your savings or had none to start with. |
| |
• Worrying about money and debt keeps you awake at night. |
| |
• You just about manage to make the minimum monthly payments on your credit cards. |
| |
• You receive debt collection calls. |
| |
• You do not open statements because you're afraid to read them. |
| |
• You don't know how much you owe. |
| |
• You rely on credit cards for everyday purchases of groceries, gas, etc... |
| |
• You spend more than 20% of your income on credit card payments. |
| |
• You have more than 3 credit cards.
|
| |
• You lie to your family about debt. |
| |
• You hide statements from family members. |
| |
• You make your monthly credit card payment and then spend that amount or more. |
| |
• You're maxed out, or nearly maxed out, on all of your credit cards. |
| |
• You use your credit cards for cash advances. |
| |
• Checks have bounced. |
| |
• You've been turned down for credit. |
| |
• Credit cards are your sole method of paying bills. |
Bankruptcy Alternatives
Bankruptcy should be treated as a last resort. It has long term effects on your credit rating, can be emotionally stressful and may impact your chances of getting a new job in the future. A number of bankruptcy alternatives exist that should be thoroughly explored before filing a bankruptcy case with the court.
Bankruptcy Alternatives – Debt Settlement
We offer a debt settlement program so that you can avoid bankruptcy. The objective is for our negotiators to arrange lump sum settlements for each of your individual debts. As an alternative to bankruptcy, our services are available to tenants and homeowners. Our program often is the fastest and most aggressive route to settle debts.
Bankruptcy Alternatives – Credit Counseling
Many consumers looking for an alternative to bankruptcy first consider credit counseling services. In a consumer credit counseling program you will be required to repay the full principal balance and continue to pay interest. These programs generally take five years. The interest rate reduction offered by most credit counseling services is minimal and many consumers still file bankruptcy after using this service.
Bankruptcy Alternatives – Refinancing Your Home
Refinancing your mortgage can use the equity in your property to pay your debts. If you have equity and can afford a higher mortgage payment this is a great option. Unfortunately for many Americans they have seen the value of their home drop at the same time while qualifying for mortgages.
Bankruptcy Alternatives – Debt Consolidation Loans
These unsecured debts typically carry high interest rates. The terms of a debt consolidation loan are often much longer than a debt settlement program. |
