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Virginia Byrd

Resumen biográfico Why Think of Filing for Bankruptcy When You Can Get a Debt Settlement?

When do people think about going in for bankruptcy? The primary reason why people consider this option is because of the excessive pressure put forth by the credit card issuers and debt collection agents. When this becomes intolerable, people decide to go in for a bankruptcy to finish the problem forever.

However, things never work as well as planned. Even after filing bankruptcy, you will still have to tackle the problem of secured debts. Further, getting any unsecured loan or even a lease of your automobile will become very difficult once you have a bankruptcy on your credit report. Considering all this, you should check out alternatives before you go in for the solution.

The best alternative available in the market is debt settlement. This alternative is so effective that there are many persons who wonder why bankruptcy even continues to exist when settlement is around. A 50% reduction in the debt combined with an installment facility to encourage the individual to repay the debt-is there any better way of overcoming debt problems?

Bankruptcy is going to result in 95% loss for the unsecured lender. This is definitely worse than a 50% loss. Further, the individual who files for bankruptcy does not learn the lesson of proper management of debt. In such a scenario, there is no incentive for the credit card issuer to be lenient towards the customer. However, things are different as far as debt settlement is concerned.

The amount will have to be repaid, if not in full, at least in part. Further, qualifying for a debt settlement is not very difficult. You can easily go in for this solution and manage your finances better. Bankruptcy is a life changing affair. Debt settlement can be carried out with a very little fuss. You just have to get in touch with the debt settlement expert and wait for the expert to get you the best deal.

When settlement is easier to get, more productive, more profitable and more useful for the economy, the individual, the credit card issuer, and the country in the long run, why should even think of going in for bankruptcy? The lack of generosity on the part of credit card issuers is no longer a problem because people are enjoying the benefits of the stimulus package. Considering installment loans no credit check direct lenders only, it is advisable to utilizing the options in hand rather than searching for a solution that actually causes more harm than good.

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: Free Debt Help http://www.freedebtreductionhelp.com.