In today's day and age it is extremely difficult to decide which option is best for you. Debt Settlement is the process of getting creditors to take less than the full balance owed. Debt settlement programs aren't right for everyone. This is not the only solution, and it may not even be the right fit for you depending on your specific situation. For example, some people may have so many debts and so few assets that filling for bankruptcy is their best option. Please feel free to give us a call at (866)326–7119 for a free consultation to see if Debt Settlement might be the right choice for you. Below we've also provided a basic overview of programs such as Consumer Credit Counseling, Bankruptcy, Debt Consolidation Loan, as well as doing it yourself. As always, when seriously reviewing different options, be sure to speak with a specialist in each given industry to get the most accurate information.
Consumer Credit CounselingCompanies that work as a liaison between customers and their creditors to negotiate and administer a monthly payment plan (often called a "debt management plan") that makes it more manageable for a customer to repay the debt - for example, by lowering interest rates or forgiving late fees.
BankruptcyNationwide DSG is not a law firm, nor can we provide legal advice or any other type of legal advocacy. There are many different factors that determine if Bankruptcy is right for you, as well as what type of Bankruptcy that may be. For bankruptcy related questions concerning your situation, you must contact a licensed attorney in your state.
Consolidation LoanConsolidation loans help consumers to replace multiple loans with one single loan. These can be offered in the form of secured/ or unsecured loans. The interest rate, the amount you qualify for, as well as the term is all dependent on the individual client. Contact a specialist in this particular industry if you are interested in seeing if a consolidation loan is something you qualify for.
Doing it on your ownConsumers should also be aware that settling your debts on your own is an option. Calling the creditors directly and trying to negotiate a settlement is something many consumers consider. When considering this as an option you should definitely think about whether or not you have the time, funds, as well as the contacts to accomplish this. If this is something you choose just be sure to research the necessary steps needed to accomplish your end goal.
