Many people don’t realize the impact debt can have on their lives until it’s too late. At the time, falling a month behind on your bills might not seem so bad but one month, turns into two, and then two months turns into many. Every month that goes by, the burden of your debt continues to grow as interest and fees begin to pile up, driving you deeper and deeper into a financial hole. What seemed like a little problem can then feel like the biggest burden in your life. You may feel like bankruptcy is your only option (it certainly isn’t) and you may feel like there’s nobody that can help you. This is when turning to a licensed and bonded debt relief program can be your best option.
In fact, America is so in debt that many are having hard time understanding how they are going to get out of debt. This led many Americans to look for different types of debt consolidation programs that can help them get out of the debt trap that they have gotten themselves into. In fact there are many different ways that Americans can get into debt. You to get out. Often times, the process is very laborious and it can end up robbing you of a lot of joy because you to cut back on spending that you might have grown accustomed to. This is why debt relief programs have become so popular, because they give Americans the chance to be able to breed wall date or on the right road to debt that does not end in bankruptcy.
Their are many dangers to getting caught up in overwhelming debt. Your debt lowers your credit score and limits how likely future creditors are going to offer you any type of loans. You won’t be able to get a new credit card, you might not be able to open a checking account. You may even miss a job opportunity after a potential employer checks your credit report and deems you a risky person to hire based on your financial problems. You’ll also be subjected to all the harassing calls and mailings from collection agencies, and if you’ve ever received a call from a collector you know these are not fun.
So, if you’ve found yourself facing these debt challenges what can you do? Yes, you can file bankruptcy, but there is a far better way to get yourself out of this pit and back on track, and that’s through the assistance of a licensed & bonded debt relief program. Filing bankruptcy will put a black mark on your credit report for 10 years or more. Any creditor reviewing your credit report after you’ve filed bankruptcy will see it and most likely you will be denied credit or receive very high rates. You definitely do not want a bankruptcy on your record.
Once you’ve filed for bankruptcy you will lose all your credit cards too. So even if you are up to date on your bills with one account or credit card, it will be closed. This is something a licensed and bonded debt relief program can prevent. You’ll also won’t be able to file for bankruptcy again for six years (not that you’d want to file anyway) but still, losing your options is never a good thing. Some of your debt may not even be elligible to be discharged in your bankruptcy filing either, so you even after going through your bankruptcy you may still have debt and a ruined credit report.
A licensed & bonded debt relief program is a great alternative to bankruptcy. These programs are licensed and regulated by the Federal Trade Commission and in place to help you reduce those debts that you just can’t seem to pay. They will help you to avoid filing for that nasty and credit damaging bankruptcy. You’re much better off avoiding bankruptcy if you can, and that is a certainty.
These programs can help by consolidating all your debts into one manageable monthly payment, with a lower interest rate than your currently struggling with. A bonded debt relief program can work with your creditors and arrange debt settlement agreements in which the amount you owe is reduced, sometimes to just pennies on the dollar. This alone can be enough to help you get your head above water but there is even more these programs can offer you.
All of the harassing phone calls and letters can be stopped and you’ll be getting personal assistance from people that understand your situation and want to help. They will assist you in managing your finances to get to the underlying problems with your financial picture and keep you from falling back into debt once they’ve helped you get out of it. This alone may be the greatest benefit of working with a licensed and bonded debt relief program.
When it feels like your debts are too great and that bankruptcy is your only alternative, seek out a licensed and bonded debt relief program. There you will find licensed professionals with one goal in mind, and that is to get you out of debt in the best possible and way.
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