How does debt consolidation and debt negotiation compare to bankruptcy?
Bankruptcy is an option that is generally treated as a last resort. It will remain on your credit report for 10 years and you can be denied employment, state licenses, insurance, and tenancy of an apartment. Most importantly, you can be denied virtually any type of credit with a bankruptcy on your record. In addition, since the bankruptcy laws have changed recently, it is even more difficult to qualify for Chapter 7, the method of liquidating assets to eliminate your debt. You will not be allowed to discharge alimony, child support, taxes, student loans, judgments, or any loan on the bankruptcy petition. Under Chapter 13 bankruptcy, your debt payments are simply restructured meaning you will still have to pay a percentage of your debts while you suffer the consequences of bankruptcy. Debt settlement is an attractive alternative to bankruptcy. It provides a convenient method to save money to help pay your debts in the near future. You’ll be able to resolve your debts and restore your credit much quicker through a settlement program.
Q: Who is qualified for a Debt Consolidation and Settlement Program?
Q: How soon will my accounts be settled?
Q: How does debt consolidation and negotiation compare to bankruptcy?
Q: Will debt settlement hurt my credit?
Q: What is the difference between debt settlement and consumer credit counseling?
Q: Do I have to include all my accounts in a debt consolidation and settlement program?
Q: What if my creditors won't settle?
Q: How long does a debt negotiation or debt settlement program take to complete?
Q: What kind of accounts qualify for a debt consolidation and settlement program?
Q: What are the possible tax consequences for a debt that has been settled?
Q: Will I continue to get calls and correspondence from debt collectors?
Q: Will interest and late charges accrue on my accounts while I am in debt settlement?
Q: Can I settle my accounts on my own?
Q: Is it a good idea to borrow from my 401k retirement plan to pay off my credit cards?
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| Our Program | Debt Consolidation Loan | Credit Counseling | Minimum Payments |
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| Total Unsecured Debt | $30,000 | $30,000 | $30,000 | $30,000 |
| Months To Pay Off | 46 | 60 | 60 | 433 |
| Interest Paid | None | 12% | Variable | 18.99% |
| Monthly Payment | $498 | $667 | $855 | $900 |
| Total Est. Cost | $22,950 | $40,040 | $51,300 | $80,619 |
* The above numbers are an example of past performance and are not intended to be a guarantee of any future settlement results.
