Your Choices
Bankruptcy
Ch. 7 will remove all your debt and leave you debt free just like our debt settlement process. However, a Bankruptcy will be a PERMANENT fixture on your public record. All your private information becomes PUBLIC as you must submit all documents to the JUDGE. A bankruptcy can affect you even when applying for employment. Bankruptcy will also last on your credit report for 7-10 years and make obtaining new credit during that time frame almost impossible. Our process is designed so you are debt free in 3 years in the worst case scenario, your credit will start to improve as your debts are settled and the balances become zero. We will settle your debts throughout the program so that you begin to see improvements in your first 12 months.
Ch. 13 Bankruptcy will have you pay back a portion of your debts. You submit your information to the COURT just like in the Ch. 7, but you have to pay back a percentage of your debt that matches how much income and assets that you have available. The JUDGE chooses your monthly payment and you forced to follow his decision. The process takes 3-5 years on average, marking up your credit the entire time. It still lingers on your credit for 7 years after the repayment period is up. This choice can have some consumers paying back more then our program while having the terrible affects of a bankruptcy on your credit.
Credit Counseling
You MUST understand that credit counselors get paid by YOUR CREDITORS. This immediately creates a conflict of interest that doesn’t end up with you being the winner. Many believe credit counseling to be collection agents in disguise. They attempt to make you pay back 100% of your debt plus interest. They simply get your rates reduced from the ridiculous 20-30% rates down to a 5-10% range. This process takes TWICE as long as debt settlement on average. Your creditors will report that you are in credit counseling and your credit score with reflect that someone else is paying your bills. Bottom line, your credit does suffer and the process is 3-5 years like a Ch. 13 bankruptcy.
Do Nothing
The graph below shows how doing nothing will add thousands of dollars and many years to your debt problems. The graph shows the reality of the ridiculous fees and rates you will face while having debt with creditors who can adjust your rates at any time. The average credit card lasts over 20 years if you don’t take action.
Do It Yourself
Creditors/ Collection Agents/ Loss Mitigation Departments are not staffed by the same people that work at Disney. These people are trained to intimidate and disrupt your life. This process doesn’t eliminate your debt overnight and no one wants to go to bed thinking about the next day’s call from the creditors. Expert Psychologist’s agree that debt problems will lead to problems with health, jobs, and relationships if there is no solution in sight. So making the decision to go into the UNKNOWN battlefield of debt settlements may cause undue stress and by no means guarantees a total savings greater then hiring experts to do the work for you. Unless you are a business owner who has settled your own debts before or is familiar with contract law, we suggest you utilize a PROFESSIONAL. Our technology, experience, and database of past settlements will make this process simple so you can think about the more enjoyable things in life.
