subject: Federal Debt Relief Solutions - Why Credit Companies Will Make Debt Settlement Deals [print this page] Federal Debt Relief Solutions - Why Credit Companies Will Make Debt Settlement Deals
A lot of Credit companies are actually promoting their debtors to go for federal debt relief solutions if not actually offering it themselves. The government's concern to help individuals pick themselves up from their pool of debts resulted to federal debt relief solutions. These in turn made programs open for the common citizen to avail, especially Debt Settlement deals which were only open for huge corporate and companies before.
If you as a debtor think that filing for bankruptcy is the easiest and best solution you will have then you might want to think about it again. Yes, you do get a relief from your debts but it actually leaves a bad scar for your credit rating. When you go for broke your credit rating goes all time low and will take a long time before you can recover. If you see bankruptcy as a win-lose situation in favor of you, apparently it is actually a lose-lose situation for both sides in the long run.
Then enters the US government with their federal debt relief solutions which created a ground for both parties gain some advantage from this situation. Debt Settlement emancipate individuals from that scenario of declaring bankruptcy. This would free you from all the unsecured liabilities you have and denies your credit companies from having rights to claim from you. On the other hand, you are actually giving the bank access to all your properties and assets, meaning that they can actually do anything with your properties if given things go bad. That is why creditors would rather have not anyone declaring bankruptcy.
Now with federal debt relief solutions everything becomes clear and transparent. Debt settlement process is a more convenient way that offers a wide range of options. With this program, your credit ratings are not affected. By negotiating with your lenders, you get your debt relief within a smaller time frame and even lowering your payments; and in turn in cooperating after being convinced, your creditors can actually get back the money you owe them from spending credits. Although these will not be paid in its full actual amount, getting something is better than not getting anything at all.
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.
