subject: Personal bankruptcy tips - how to find legitimate debt relief programs online [print this page] Personal bankruptcy tips - how to find legitimate debt relief programs online
Looking for some personal bankruptcy tips? Want to know why not to select bankruptcy? Are you looking for ways to find reliable debt relief programs online? If yes, this article intends to explain these facts to you in the simplest possible way and help you in recovering from the debt that you have.
Personal bankruptcy tips- why not bankruptcy:
Personal bankruptcy will certainly ensure that the debt that you have will be wiped out completely. However, there are several problems which are associated with personal bankruptcy. These problems are the reasons which explains why you must avoid bankruptcy and go for alternatives.
This method of debt elimination is the longest method of all. It takes a very long time to successfully file for bankruptcy.
With new bankruptcy laws in place, filing for bankruptcy has become really difficult and people are now required to qualify for the same.
After bankruptcy filing, consumers suffer from loss of credit score. They fail to get new credit for 7-10 years after bankruptcy filing. This happens because the report of bankruptcy filing shows up on the credit history of the consumers for that time phase.
After the period of 7-10 years is over, the consumers qualify for new credit bu the interest rate charged to them is higher than that charged to those who did not file for bankruptcy.
It is because of these reasons that the consumers are advised not to go for personal bankruptcy but instead, they must look for other alternatives. But the question is, how do you find reliable debt relief programs online? Here is the solution that you are looking for:
There are a few easy methods that can help you locate reliable debt relief programs online. The methods include searching Google, looking for debt relief networks, help from family and friends and polling websites.
Google search is the simplest thing that you can do. Results which are returned by Google search are trusted all over the world and hence, you can also trust the same. The top four or five companies which show up in Google search are the best companies in the market. They are professional and they know their job. They have license and registration to operate in the market and they are also registered with Better Business Bureau.
The next best thing to do is too search for debt relief networks. These relief networks have a very comprehensive list of the most popular and reliable companies. The companies which are listed on the network are registered with Better Business Bureau and have passed the tests of ethical standards which is required for the nature of service they provide. The have a very modest fee structure which is within the budget of every individual.
If any of your friends or family members have used this type of service, you can ask for their advice. Even this can be a helpful source. Finally, there are polling websites where the consumers rate the performance of the companies. You can select a company from that list as well. This definitely is a reliable source.
Debt settlement is a viable option to filing bankruptcy and is becoming increasingly popular amongst Americans with over $10k in unsecured debt. Creditors are ready to negotiate. You can literally eliminate 50% of your unsecured debt with a settlement.
