subject: Non Profit Debt Settlement - Do You Dare to Risk? [print this page] Non Profit Debt Settlement - Do You Dare to Risk?
If you are up to your ears in debt and being slammed in interest, penalty and over the limit fees, it might be unreasonable to pay off one hundred percent of your debt.
That's where debt settlement can help make a big difference in your situation. One of the greatest benefits of debt settlement is that you have the chance to wipe out about half of your debt load in approximately three to five years. Your credit will take a hit but you can begin rebuilding your credit within a short amount of time.
Aurora Lillo Editor of the "Reputable Debt Settlement" website -- http://www.ReputableDebtSettlement.com -- pointed out;
"...The threat of wage garnishment and being sued by your creditors are the two greatest risks of the debt settlement process. This happens in some cases, but not all the time. Once you sign up for a debt settlement program with a nonprofit organization, you will usually be assigned a lawyer who is there to answer any questions you may have. Debt settlement companies have staff who specialize in the field and therefore tend to be familiar with a lot of creditors, how much of a payment they might settle for and how long it might take to get the company to settle. These are questions you can and should ask..."
The faster you can accumulate money into your escrow account, the faster your lawyer will be able to settle off your debts. If you are only making small payments to your escrow account and don't see any opportunities to increase the payment within the next year or two, then it will take longer to settle your account and you are more likely to be sued. Evaluate your financial situation and determine if it's plausible to make higher payments earlier on securing your chances of successfully wiping out your debt at a much lower cost. For example, you may plan to add some of your income tax refund to your escrow account.
"...Non Profit debt settlement is a risky venture but it has helped many people. It is up to you to decide if it's something that will be beneficial for your own unique situation. It is definitely a risk, but when taking risks, you take the chance at gaining something more. There are people who opt to try this method of debt reduction and others who do not. Make sure you educate yourself and look at your situation to determine if this is the right avenue for you to succeed financially..." added A. Lillo.
Further Information By Visiting; http://www.ReputableDebtSettlement.com
