Options

When burdened with uncontrollable debt, several options are available to you.

• Bankruptcy
• Debt Consolidation Loan
• Counseling Service
• Debt Settlement

1. Bankruptcy
While bankruptcy may appear to be the easiest solution to eliminate your outstanding debt, it also carries with it the most severe ramifications. It is a life altering event, and recent changes in the bankruptcy laws have made it more difficult to eliminate your debts through bankruptcy. Most people end up paying their creditors through bankruptcy reorganization and suffer the stigma that bankruptcy brings. Bankruptcy should be used only as a last resort!

2. Debt Consolidation Loan
This is not a way of eliminating debts, but merely a way of borrowing additional funds to pay off your existing creditors. It assumes you have the ability to secure a loan through a financial institution. While a consolidation loan might have a lower interest rate than the rates you are currently being charged by your current creditors, very often consumers find themselves in worse financial shape than they were in. Often, debt consolidation loans are secured with property and you ultimately could find yourself facing the possibility of losing your home. Consolidation is in no manner similar to debt settlement!

3. Counseling Service
While many counseling services disguise themselves as non-profit, they do charge you for their services! The vast majority of people that sign on with counseling services never become debt free. These companies do not settle debt, but rather make payments to your existing creditors through funds which you furnish them. In order to complete the program, your creditors need to be paid in full. No accounts are settled, no savings are realized, and the program tends to run longer than is usually planned. The worst part is that these companies work for, and are compensated by the creditors, so they do not have your best interest at heart.

4. Debt Settlement
Debt settlement is the quickest and most effective way to become debt free and regain financial freedom once again, improving your quality of life! With the excessive interest rates being charged by most financial institutions, you will be paying your existing creditors for many years to come. Through National Debt Resolution, you become debt free in 12 to 36 months, reducing the amount of debt you owe and avoiding years of hardship. Your creditors are happy because your accounts are resolved, and more importantly, you and your family are happy because you can get on enjoying your lives once again. It's a win-win situation!!