Can You Realistically Not Pay Your Credit Card Debt? A Legal Option to Avoid Paying Back Debt?

Can You Realistically Not Pay Your Credit Card Debt

? A Legal Option to Avoid Paying Back Debt?

It is correct to say that you have to fight for your rights. No one will give your rights easily. It is high time to fight against your credit card company as they have already made a lot of profit from the pocket of so many other individuals like you. It is really a dream for you to find out such legal options or ways which help you in avoid paying back your whole out standing amount of credit card. Many ways are easily available in the market and you can select any one of them in order to not to pay back your debts. Among all these methods bankruptcy and debt settlement; both are considered to be the legal option in this regard.

Bankruptcy is considered as the most traditional and old way. Filing for insolvency means you are not able to pay back the outstanding amount of debts any more. The process of bankruptcy is time taking plus much efforts are involved in it as you have to hire the services of legal advocate in this regard pass and go through many other legal documentation and tests. Court has the authority to declare you as bankrupted. This method of bankruptcy has got much more disadvantages as compared to advantages. One of the biggest disadvantages of this method is that it creates a very negative impression on your credit ranking and once you file for bankruptcy you will not be able to get any sort of financial help from any bank or financial institution for the next seven years. Apart from this bankruptcy method is also expensive as you have to bear the expenses of the lawyer fee as well.

On the other hand debt settlement is considered to be the best way for not paying the credit card debts. This method is more appropriate; that is why many other individuals like you are opting for this method. For the process of debt settlement you have to hire debt Settlement Company in this regard. Rest of the work will be done by the financial experts of debt Settlement Company. Settlement Company works for the betterment of both lender and borrower. Financial experts of these companies play the role of middle man between lender and borrower. These experts do negotiation with the lenders and make them realize about the worst financial condition from which the borrower is going through. Result of these negotiations is that you become able to get elimination in your amount easily and you get the opportunity of not paying the debt amount in full.

Debt settlement is the best alternative to bankruptcy and usually makes financial sense for consumers with over $10k in unsecured debt.

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