subject: Debt Relief Options - Why Debt Settlement Could Be The Least Expensive Now [print this page] Debt Relief Options - Why Debt Settlement Could Be The Least Expensive Now
Have you ever estimated the amount of money you will have to pay to declare yourself as a bankrupt? Well, it is not easy and not cheap. You will have to hire an attorney, pay him thousands of dollars to convince the court that you are not in a position to handle your debts. Besides, the newly reformed bankruptcy laws will not allow you to file a bankruptcy case easily. Under chapter 13 bankruptcy code, the debtor is made compulsory to follow a debt settlement program before they apply for a bankruptcy case. The purpose is to give your creditor to recover at least a few dollars you owe to them. Well, the purpose of this article is to insist you the advantages or the positive aspects of debt settlement programs which out do the negative aspects of bankruptcy.
Usually when you are faced with a money shortage, the natural tendency of you is to find a less expensive way to get rid of your liabilities. This perhaps can be one of the reasons for you to consider bankruptcy as a better option, though in reality it is not. Let me clarify things for you.
Debt settlement programs are not for profit organizations. They do not charge any upfront fee to give you financial advice. In case of bankruptcy, it is not. You will have to pay thousands of dollars for the each and every attorney advice. Though this industry was swamped with fraudulent companies who grabbed away the last few dollars of the debt ridden consumers in past, the new F.T.C legislation has successfully weeded out the fake companies from this field. Thus, you need not to worry about your last few dollars. 75% you are protected. What you should do is to avoid companies which demand upfront fees.
What do you feel if a considerable portion of your money is wiped out at once? Amazing! Is not it? Well, it is a dream you can realize through a debt settlement program. How? It is simple. Once you are connected to a debt clearance company, they will start negotiation sessions with your creditor to get a discount. They will convince the creditor that you are utterly desperate and do not have money. Depending on the negotiation skills of your negotiator you will receive discounts ranging from 40% to 60%. The interest will be cut off as the initial step.
Finding legitimate debt settlement companies is very important. Unfortunately there are predatory debt settlement companies on the market so consumers need to know how to find legitimate services. To locate the top performing debt settlement companies in your state check out the following link:
