Debt Settlement vs. Bankruptcy
Determine if debt settlement is best for you and what your options are.
Your guide to better understanding the different programs and options with getting out of debt. We provide you with the Pros/Cons of each and other considerations. If you have any questions we are always available to help.
Debt management can sometimes seem like an impossible situation to rectify. Many times people feel guilty for racking up so much debt. They can feel hopeless when trying to formulate a manageable repayment plan that doesn’t completely deplete their bank accounts while trying to make ends-meat.
There are a number of debt management options available to those wishing to make their debt worries a thing of the past. While bankruptcy offers what may seem like a quick fix, it certainly comes with its share of negative impacts on your finances and credibility. Debt consolidation creates a way to repay debt, however, it may end up prolonging the repayment process and needlessly delay the debt-free lifestyle you want.
UNDERSTANDING DEBT PROGRAMS & THEIR PURPOSE
With so many people teetering on the brink of bankruptcy, there is a dire need for a viable solution to this issue. Debt management programs help reduce the principal owed, offer a reasonable interest rate, and give people a new hope for living a debt-free life…
HOW A DEBT PROGRAM IS STRUCTURED
Debt management programs provide clients with feasible options for reducing debt, usually within a two to five-year time frame. The best part of debt management programs is that there are a number of them to choose from. Some options include but are not limited to bankruptcy, consumer credit counseling, and debt settlement.
BANKRUPTCY & THE CONSEQUENCES
Many people who find themselves under what seems like insurmountable debt look toward bankruptcy as a quick fix. What many people find, however, is that bankruptcy is no joke. It is not a quick fix, and it can hold serious consequences for your future financial situation.
DISCHARGING ALL UNSECURED DEBTS
A Chapter 7 bankruptcy plan leads to the discharging of all unsecured debts that formed part of the bankruptcy. In other words, you are not legally obligated to honor these debts. You therefore, must compile a full list of debts for the purposes of your bankruptcy. In the case that you discharge car or home loans, you are likely to lose these assets.
CONSUMER CREDIT COUNSELING, ANOTHER ALTERATIVE?
Consumer Credit Counseling Services (also known as CCCSs) employ the help of financial counselors who assist in developing a debt repayment plan that includes debt consolidation.They try to make your credit card debt easier to handle by allowing you to make one payment to them which they then distribute to your creditors at prearranged, lower interest rates.
MEETING & DISCUSSING YOUR OPTIONS
Our clients are our family. And, it’s important to us that as our extended family your enjoying life to the fullest extent. Imagine what life could be like with a few extra hundred dollars in your bank every month. Save money, reward yourself, plan for something wonderful for yourself. Get the opportunity to live again, smile, and enjoy life.
TO LEARN MORE SWIPE RIGHT OR SWIPE LEFT
Eighteen months ago I lost my job after 20 years at the same company. I went through complete shock as it only took 6 months for me to go through all the money I had saved while I looked for something else. I relied on the credit cards to help me get by. Then, it just spun out of control. I spoke with Dani over at JXD Financial because he was referred to me by a close friend. I never thought for one second about filing for bankruptcy. He assured me that I wouldn’t have to. I prayed and prayed on it. JXD was definitely the answer to those prayers. I am paying a whole heck of a lot less than before and I know one of these days even that payment will stop.
– Carla M.,