Why is it that all those who advise about debt relief and debt management always speak about the past? Why is it that individuals are told that they s...
Why is it that all those who advise about debt relief and debt management always speak about the past? Why is it that individuals are told that they should identify debt problems early only after they have a completely missed the problem and are at the brink of bankruptcy?
Debt relief and debt assistance are often portrayed in such a manner that the individual has just two choices- either the person must be disciplined from the very beginning or the person must declare bankruptcy and start all over again. That is definitely not the case.
Today, if your debt is less than eight thousand dollars, then you can easily find other alternatives that will help you bring your debt under control. You can resort to counseling, consolidation, interest holiday or even sale of secured asset to bring your debts under control. Once it is done, you should manage your income and expenses in such a manner that the debt problem never rises again.
If you owe more than eight thousand dollars or if you are finding it very difficult to make regular repayments, you can opt for debt settlement. There are many critics who indicate that debt settlement is as bad as bankruptcy because the credit score of the individual takes a huge hit.
That is definitely true. The credit score does get negatively affected. However, those who are really need of debt relief and debt assistance will never consider it as a serious problem. As far as they are concerned, credit score is not a more important as compared to bankruptcy and its harmful effects.
The point whether the credit scores will be affected or not will be considered only by those who have a score worth speaking of. If your score is very low, then you obviously would not be concerned about this point. This is another point where criticism against debt settlement becomes unrealistic and irrational. It is almost as if people want to find faults with debt settlement.
In any case, you can find all this information about various aspects and facets of debt settlement from the World Wide Web. You can check out other sources to either verify or counter the info you get on the web. You can visit web sites of Federal Trade Commission, The Association of Settlement Companies, Better Business Bureau and the others such reputed sources to know more about debt settlement.
Once you have the information in your hand, it is time to proceed further and get real debt relief and not just theoretical mumbo jumbo.
If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called "Free Debt Relief Networks" that are a great place to start in locating legitimate debt settlement companies in your region. They provide free debt help and know where to locate the top performing debt settlement firms. To get free debt help check out the link below:
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