Should I Consider Debt Settlement?
No two people are the same.
No two situations are the same.
And when it comes to debt, there is no one-size fits all solution.
If you are deep in debt and trying to get out there are numerous options but maybe only one or two proper solutions.
Bankruptcy, credit counseling, debt consolidation, find a new job, lower your monthly bills, debt settlement - which is right for you? If you are considering Debt Settlement, ask yourself these questions to determine if it may be right for you: 1) Do you have at least $7500 of unsecured debt such as credit card debt, medical bills, recourse payments from an auto repossession or home foreclosure, private student loans, etc.
2) Is your situation such that you can't or don't want to file for bankruptcy? 3) Have you recently passed through a hard-ship that is making it impossible or nearly impossible to continue to afford the minimum payments on your debt? 4) Is there very little chance you will be able to pay off your debt in the foreseeable future? 5) Are you willing to allow your credit score to be damaged by entering this type of program? If you answered yes to all of the questions above you may be a candidate for Debt Settlement.
It is important that before making any decision that you discuss the various options with your attorney as well as family and friends.
Debt settlement programs are not for the casual debtor but for the individual with few options left short of bankruptcy.
No two situations are the same.
And when it comes to debt, there is no one-size fits all solution.
If you are deep in debt and trying to get out there are numerous options but maybe only one or two proper solutions.
Bankruptcy, credit counseling, debt consolidation, find a new job, lower your monthly bills, debt settlement - which is right for you? If you are considering Debt Settlement, ask yourself these questions to determine if it may be right for you: 1) Do you have at least $7500 of unsecured debt such as credit card debt, medical bills, recourse payments from an auto repossession or home foreclosure, private student loans, etc.
2) Is your situation such that you can't or don't want to file for bankruptcy? 3) Have you recently passed through a hard-ship that is making it impossible or nearly impossible to continue to afford the minimum payments on your debt? 4) Is there very little chance you will be able to pay off your debt in the foreseeable future? 5) Are you willing to allow your credit score to be damaged by entering this type of program? If you answered yes to all of the questions above you may be a candidate for Debt Settlement.
It is important that before making any decision that you discuss the various options with your attorney as well as family and friends.
Debt settlement programs are not for the casual debtor but for the individual with few options left short of bankruptcy.