If you read the success stories of people who have been able to reduce their debts by half through debt settlement, you feel motivated to use this option to come out of your debts. The good news is that if you have at least ten thousand dollars in your unsecured debts then you can avail this option.However, one has to keep in mind that the debt settlement offer depends on various factors. The common factors which will count during...more
While credit cards can be a source of comfort, they can also be the root cause of many problems. Many times a customer ends up paying more in fees and interest rates than the actual purchase. Most of the times, it is best to do away with your credit cards than deal with so much debt.You must first start by checking what the exact problem with your credit card is. Are you being charged a very high interest rate or a late fees or...more
The credit card's major problem is that its debt goes unnoticed and unplanned. The interest rate on the credit card debt is very high as it is unsecured in nature. If you do not pay on time then you are suppose to pay the penalty on the outstanding amount. Every time you miss your due date the credit score is affected adversely. If you have credit card debt and you are not able to clear the loan due to personal and financial reasons and on top of it creditor is troubling you then you should seek help you debt relief firms that will surely provide you credit card relief.The firms are professional in this field and they are use to handle these kind of credit card relief process. You can legally get many of the relief process which are introduced by the firms namely the consolidation, reduction etc. In consolidation all you account will be merged into single account which will make it easy for you to handle it. The reduction process will get some amount reduced in your debt. By debt reduction you have to pay only the reduced debt. The reduction process demands that you should have good communication skills backed with the knowledge of the financial and legal system of...more
Debt settlement has been found the most feasible way to get rebate in the debt. How to eliminate debt and avoid a creditor lawsuit has been a very common question of discussion among the debtors. As they get a very relaxing amount to pay after a successful debt settlement. In the process of debt settlement, one has to put the entire...more
In order to get your bank credit discharged or forgiven, you would need to file for Bankruptcy under Chapter 7 or Chapter 13. You would need to contact a bankruptcy attorney who would be able to guide you through the bankruptcy process and also help you to get the debt forgiven.There are few basic questions that commonly arise in the...more
Two fastest ways of eliminating debt are bankruptcy and debt settlement. Most debtors prefer to keep bankruptcy as their last option because it has a major negative impact on the credit rating. It stays on the credit report for the next 10 years. Settlement also impacts the credit rating negatively but not as much as bankruptcy. With the recent change in the bankruptcy laws it is no longer easy to qualify under chapter 7. If you qualify for only bankruptcy under chapter 13 then you might have to repay all your unsecured debts through easy payment plan. Hence settlement is a better option.In this method the debtor and creditor agree on a reduced amount as a full balance. The debtor needs to pay the new balance amount in a single down payment; the remaining debt is legally eliminated. Most creditor agree to settle the account which is about to be sold to a collection agency or if the debtor is on the verge of filing for bankruptcy. In either of the above scenarios the creditors cannot recover a major part of the loan amount.A debtor trying to get his debt eliminated must stop making payments on his account. Creditors are willing to settle accounts which are at least 90...more
Most of the cases where debt settlement happens is when the delinquent account has already been sold to a collection agency or when the creditor has already written off the debt as bad debt. Most debtors try to settle such accounts...more
On an average, today an adult is carrying at least nine thousand dollars in unsecured debt. Most of us carry multiple cards and hence it is difficult for us to keep a tab on how much has been spent on each card. It is easy to build up...more
For those who are not being able to pay off their debt and also who want to avoid bankruptcy, debt settlement is one of the best debt relief methods. This method helps them get rid of their debt by paying much less than what they owe...more
You do not know when you will have to face unexpected expenses. They come without informing you. In such a situation you first opt to go for friends and relatives. Now without hesitation, you can apply for payday loans no credit check. They are a...more
Getting out of debt can be a challenge if you have maxed out all your credit cards. This is a condition when just meeting the minimum payments on each card becomes a burden. However, you would be surprised on how easily you can pay off...more
Debt settlement is a process which enables a debtor to pay only a percentage of his debt amount as the final settlement amount. The settlement amount which the creditors agree to may vary on various factors. Some of the common factors...more