Debt settlement for consumers has become increasingly popular in the recent past after the US economy was hit recession. This method of debt relief has outpaced the method of bankruptcy. There are several reasons for this. These reasons explain why debt settlement for consumers should be your first choice debt decision. But what are those reasons? Let us find out!
Debt settlement is first of all the fastest method of debt elimination. It takes 1-3 years to complete a settlement deal. This is not the case with bankruptcy because, the method of bankruptcy is a highly time consuming method and takes years to complete (more than 3 years). Next reason why settlement should be your first debt choice is that settlement does not have any legal hassles. This means that you need to be in touch with the attorneys and you need not go to the court or any other legal places! This is something unavoidable in bankruptcy and legal proceedings are inevitable. The method of settlement does not require any credit counseling which is again a must in bankruptcy. The next reason is that once the settlement is over, you will retain your credit score and credibility. This means that once a settlement is over, you can immediately borrow further money from the creditors. Settlement never makes you a sub-prime consumer. This means that when you go for next loan after a settlement deal, you will get the loan at market rates of interest. You stay a prime consumer after settlement is complete. This is not the case in bankruptcy. Once you file or bankruptcy, you become a sub-prime consumer after 7-10 years. In these 7-10 years, you cannot get any loan at all! Finally, settlement has its very valid reasons to become your first choice. Settlement is backed by govt. policies. The policies like tax breaks for the creditors and the stimulus cash make the creditors open up for settlement deals. Settlement is a good option towards curbing recession!
South Dakota Bankruptcy Lawyer, Massachusetts Bankruptcy Lawyer, Bankruptcy Lawyers Denver,
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Bankruptcy Attorney Jobs
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment