subject: Avoid Bankruptcy and Eliminate Debt - How to Never Pay Back Credit Card Debt in Full [print this page] Avoid Bankruptcy and Eliminate Debt - How to Never Pay Back Credit Card Debt in Full
The first advice that you are most likely to get if you are debt ridden is avoid bankruptcy and eliminate debt. It is a given that nobody will ever recommend you to file bankruptcy. There are a number of valid reasons for such aversion towards it. The general feeling might be that bankruptcy frees you from the overbearing hazard of credit card debt altogether and you do not have to pay a single penny of the total amount of dues but the reality is quite different. The troubles that come with it are endless. First and foremost, you have the arduous task of finding the right chapter that tally with your condition and filing bankruptcy accordingly. However, the process of zeroing in on the appropriate chapter is not that simple and you might not be able to do it alone. A professional might be required for the purpose. Then again, bankruptcy does not embrace all kinds of unsecured debts and there may be some dues that remain unattended even after the completion of the process. Other concerns include lowering of the credit score and the risk of losing some particular assets.
Why do you even need to consider the aspect of filing bankruptcy when you have the easy option of settlement programs? The scoring point of a conciliation program is that if you go for them, you would not have to pay the credit card debt in full. When you are getting such an opportunity with the help of which you can eliminate almost 60% of the net amount, it does not make sense to adopt any other means which does not even guarantee that.
A settlement program does the whole job on your behalf which also includes the tough task of bringing the creditors on a common ground where they can seriously consider the prospect of going for a settlement deal with you. Not only that, they strive really hard to earn a bigger waiver for you so that you benefit most from the deal and also do not find it that difficult to repay the leftover amount. You cannot expect such benefits in bankruptcy and therefore, should stay away from it for your own good.
Debt settlement companies are widely available in just about every state however some are just flat out more experienced than others in debt negotiation. That's why it's so important for consumers to use debt relief networks. These networks qualify and only accept the best performing debt settlement companies.
