subject: Legally Eliminate Your Credit Card Debt- the Best Solution to Pay Off All the Money You Owe [print this page] Legally Eliminate Your Credit Card Debt- the Best Solution to Pay Off All the Money You Owe
The difference between opting for bankruptcy and taking advantage of a debt relief program is that with bankruptcy you get a low credit score for as long as 10 years, thus losing your financial credibility in the process and cannot borrow or even rent in that time.
Creditors will not offer you any loan if your credit score does not improve. You will be stuck in this situation for a long period of time until your bankruptcy report will no longer show up in your financial report.
Although debt settlement can also ruin your your credit score to it it is for a shorter period of time and may only be a year or two. As soon as you pay off the agreed amount you are on your way to getting back a clean credit history and to legally eliminate credit card debt too.
When you fail to pay your bills and debts your creditors will notify the credit bureau. You can then seek the help of a debt relief settlement company whose negotiator will be the one to deal with things on your behalf.
If you are get a good debt relief company, you will benefit from a deal which is favorable to you. You can choose to pay your obligations in small monthly installments or in a lump sum. Either way, you and your creditor can both benefit from negotiations arising from debt relief settlement and you can legally eliminate your credit card debt.
You will be able to pay your obligations in the most affordable and convenient way for you while your creditors will usually get up to 50% of what you owe. This is a better scenario than bankruptcy and what opting for a debt settlement program can offer you.
You must hire a good debt relief settlement company. Some may charge higher than the rest but might also be the best in the field.
Although opting for debt relief and debt settlement can lower your credit score, it is the only and the best solution there is to your financial problems and as soon as you start paying back what you owe your credit report and your future will look a lot brighter.
Anyone in dent knows how bad it can be. Staying awake night after night wondering how to pay the bills off or if you are going to get a knock on the door or a phone call tomorrow. You can avoid all this by taking action and getting debt relief help through debt settlement to get rid of your debts and the stress for good and legally eliminate your credit card debt.
