Debt Settlement Is Better Than Bankruptcy

If you are considering options for getting out of debt, you might want to consider a debt settlement over a bankruptcy. Going bankrupt will set you back years not only in terms of paying off your debts, but in getting your credit back in line.

San Diego, CA (prHWY.com) January 17, 2012 - If you are considering options for getting out of debt, you might want to consider a debt settlement over a bankruptcy. Going bankrupt will set you back years not only in terms of paying off your debts, but in getting your credit back in line. A debt settlement will hurt, but not as badly.

Debt Settlement

A debt settlement is an option in which you can convince your creditors to cut your debts less than the full balance. If you owe 10,000 dollars, you should be able to get out of that debt for as little as 5,000 dollars. This could be a good approach when you want to consolidate credit cards. However, you should keep in mind that you have to pay that all in one lump sum.

Bankruptcy

Bankruptcy is an attempt to discharge your debts. You admit that you have no means to pay all of your bills, and other options have been exhausted. When you file, and once approved, your credit record will have that bankruptcy on file for as many as 10 years. Certainly, if you can find other ways to erase debts quickly, you should look into it. Finding loans and lenders to give you those loans at a reasonable rate is more or less impossible after a bankruptcy.

Other Advantages Of Debt Settlement

Once you have paid up with your creditors, the debts are listed as paid and your credit score remains intact. With bankruptcy, even if you are making payments and paying interest and penalties, it will not do you any good in terms of improving your credit score. Creditors will still be calling you and sending letters if there are debts to be paid. Once you settle your debts, you are off the hook for that debt and you are on your way.


For people who have a lot of debt, but don't have a lot of resources to pay, a debt settlement is going to be your best option. Pay off the debt with a single payment and make sure that your credit stays intact. You don't want to go to bankruptcy court because you never know how that can play out during the process. With a debt settlement, you come up with a number, and you settle your debt without having to worry anymore. Live with the security and peace of mind that your debts are gone.

Visit Us:Consolidate Credit Card Debt

###

Tag Words: consolidate credit cards

Categories: Finance

Press Release Contact
Rico
212-988-9292

Link To This Press Release:

URL HTML Code