What Can You Save?

It is very refreshing to do business with a company that lives up to it's promise. Having a lot of debt that you can no longer pay back is very scary and stressful to say the least. In my time of need you came through for me with great results and compassionate service. I would highly recommend Debt Regret to anyone facing debt challenges. The bottom line is Debt Regret will help you get the results and closure you want Mike S. - TX

Eliminate Credit Card Debt

If you are one of the millions of people who need to eliminate credit card debt, it can often seem like an uphill battle. In order to get rid of credit card debt, many people seek the services of a professional debt settlement company. If you are in financial despair and want to get rid of credit card debt, you have four options. However after evaluating the choices, most people choose debt settlement.

Option 1 - Consumer Credit Counseling

Consumer Credit Counseling companies were originally established to help credit card companies recover revenue from clients that were falling behind on their bills. Choosing to use a Consumer Credit Counseling service can have negative effects on your credit that last up to 10 years. These services are also considered Chapter 13 Bankruptcy by most lending institutions. The bottom line is that Consumer Credit Counseling companies work for the creditors and banks.

By using their services, you will end up paying back your full debt, plus interest. As consumers often find out, these companies do not always provide financial relief.
 

Option 2 - Debt Consolidation Loan

Borrowing from Peter to pay Paul is no way to get out of debt. It is however, the premise behind debt consolidation programs. Debt consolidation programs require that financial institutions provide consumer loans based on items of equity. For example, a home equity loan is used to "combine" your debts into a single monthly payment, which can often take 10 to 20 years to repay depending your on your financial situation. This may seem like a viable solution in the short term, but missing payments on a secured loan could cause you to lose your home or the collateral you pledged. Many people who decide to go the debt consolidation route find themselves worse off than they originally were. It is not a good idea to exchange your unsecured debts for secured debts.

Option 3 - File Bankruptcy

While bankruptcy may seem to be the most expedient method for removing your unsecured debt, it is not, by any means, the best answer. A bankruptcy will remain on your credit record for 7-10 years and seriously affect your ability to rebuild your credit. Even after a bankruptcy has been removed from your record, you are still required to disclose it on forms and applications; even applications for employment. If you fail to answer this question truthfully it can be considered a crime. Additionally, certain types of bankruptcy can require a court-appointed trustee to control and oversee all aspects of your personal estate. Bankruptcy can have an adverse affect on your credit rating and lifestyle long after the legal matters are over. This is not a decision to be taken lightly. Bankruptcy is an option that should only be explored as an absolute last resort to solving your financial problems.

Option 4 - Debt Negotiation and Settlement Programs

Debt settlement programs provide their customers with a viable solution to an otherwise complex problem. By helping eliminate your current debt, Debt Settlement programs allows you to regain control over your financial affairs and allow you to become debt free within a reasonable time frame. Debt settlement is fast becoming the only true option to help with debt reduction outside of bankruptcy! However, you must realize that if you don't pay your bills on time, your credit score to suffer.

Debt settlement is not a Consumer Credit Counseling Service or a consolidation loan. Debt settlement is a legitimate and legal way of solving your debt and credit problems without the need for bankruptcy. Traditionally, this is accomplished by negotiating reduced payoff amounts with your creditors. A Debt Settlement program can typically be completed within 36 months or less and reduce most, if not all, of your unsecured current debts.

Alan Barnes
IAPDA Certified Debt Arbitrator and
President and CEO of Debt Regret
http://www.debtregret.com

Article Source: http://EzineArticles.com/

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Program Benefits

Debt Relief 12-36 Months Avoid Bankruptcy Low Monthly Payment Proven Debt Reduction Minimize Creditor Harassment Regain Control of Your Life Understand Your Options