Debt Settlement Vs. other options

Are you tired of trying to figure out the best way to get financial relief? What's the difference between Debt Settlement, Debt Consolidation, Consumer Credit Counseling, or Bankruptcy?

Debt Settlement - Helps people eliminate their financial burden in 24 to 36 months and save them as much as 70% or more. Requirements for a qualified lead are, correct contact information and you must live in the United States, and have at least $20,000 in unsecured debt. On the down side going with Debt Settlement the negative effect on your credit rating will take 1-3 years to pay off, with interest rates of 0% and it won’t affect your home equity. You will owe around 40 to 60% of the total debt.

Debt Consolidation - benefits for anyone who has found themselves with more monthly payments than they can afford to budget. These types of loans are very flexible and can be used for all types of debt relief. You will still continue to be able to buy homes and refinance homes, even if rates continue to rise. It will not hurt your credit rating and will take 10 years and up to payoff, and you will still owe 100% of your debt.

Consumer Credit Counseling - works for thousands of people every year to identify their personal needs, by providing confidential counseling and education sessions. It usually covers such topics as budgeting and the proper use of credit, tips on buying a home, reviewing credit reports and even identity theft. It takes a great deal of determination to get you out of debt through credit counseling. You should consider this avenue if you owe $5000.00 dollars or less.

Bankruptcy - Really should be your last option but, if you owe more than $50.000.00 then you should also be looking at various bankruptcy options that may be available. The choice as to which solution fits your own personal situation will be best decided after you have examined all bankruptcy and non-bankruptcy options. Bankruptcy will require a law firm and will cost you more money to file and to recover your credit rating can take up to 10 years.