subject: Debt Settlement Or Bankruptcy? - Advice From a Debt Relief Specialist [print this page] Debt Settlement Or Bankruptcy? - Advice From a Debt Relief Specialist
If you're looking for advice to help you work out a debt relief solution for your financial state of affairs, it's not necessarily a good idea to look to a lawyer. Lawyers aren't financial wizards or they'd be bankers. You wouldn't contact your banker for legal advice so why would you contact a lawyer for financial advice? Bankruptcy as a debt relief solution is a drastic measure and as a debt relief solution, it's in the wrong hands. You need a debt relief specialist and they won't recommend bankruptcy. Bankruptcy will ruin your credit for life, it will label you a financial risk forever, and anyone working in settlement would steer you away from bankruptcy. So if you're looking for a specialist in financial matters, consider a settlement company. Here's why:
Financial savvy - debt settlement and debt relief is what settlement companies do. They use their expertise to help you solve your credit card debt by negotiating with credit card companies to settle your account. In these days of too much emphasis on the instant gratification of bankruptcy, credit card companies are well aware that they could end up holding an empty bag. So they, too, are willing to negotiate. You could try negotiations yourself, but you may be too involved and perhaps not have the training and experience of a professional specialist.
Proven track record - Legitimate debt settlement companies have done this before. They know the ropes and can listen to your situation, evaluate the possibilities in how to reduce your debt, and then get the process started for you. They will give you advice on how to manage the debt after settlements are reached and can provide you assistance in a payback schedule.
Legal and sound. Debt settlement is totally legit. Going this route can give you peace of mind about how you handled your debt. It's a responsible and accepted method, and puts into motion a sensible approach to getting yourself out of debt.
So seek advice before you seek a lawyer. Bankruptcy isn't the answer. Check out debt settlement.
Debt settlement is a viable alternative to filing bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt while avoiding many of the negative consequences with filing bankruptcy. If you are over $10k in unsecured debt you will be eligible for debt settlement.
