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. Many consumers do not qualify to completely disolve their debt and are forced to repay their creditors through bankruptcy reorganization (Chapter 13 bankruptcy). Bankruptcy should be used only as a last resort! If you are seriously considering bankruptcy, you should contact a bankruptcy attorney who can advise you of your bankruptcy options.
2. Debt Consolidation Loan
This is not a way to eliminate debt, but merely a way of borrowing additional funds to pay off your existing creditors. In other words, you are going to take old debt and make it new again, assuming that 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, very often consumers find themselves in worse financial shape later down the road. More often than not, debt consolidation loans are secured with property and you ultimately could find yourself facing the loss of your home. You can't compare this option with debt relief options that help alleviate the actual debt itself. A debt consolidation loan is just another way to shift your debt.
3. Consumer Credit 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 may 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 can become financially free of your enrolled unsecured debt in as liuttle as 18 to 36 months, giving you a much brighter financial future.. It's a win-win situation!!
...Then We'll Eliminate More Stressfull Bills and Annoying Debt Faster Than Any Other Company... I Guarantee!