Posts Tagged ‘debt relief’

Debt Settlement vs Bankruptcy

Debt settlement  Why should you consider it before bankruptcy?

Debt is major concern for one and all given the present economic scenario. However, the pertinent question that remains is what the major steps that can be taken in the face of debt to erase it altogether are. This is amongst those financial considerations that need to be contemplated seriously while taking into consideration various other factors. Now, talking about erasing debt, you’re sure to be wondering whether or not it’s really possible to “erase debt”. Well, this is again a frequently debated question too. If you’re practically over your head in debt so much so that you’re unable to pay your bills and getting harassed by collection calls, then it’s definitely time that you took things seriously.

One Cure for Card Debt – Make More Money

Make more money.  Sometimes that is “easier said than done” but there are some methods that could generate some extra cash to use on paying down card debt, if you are willing to put in the time.

Sell unwanted items.  You can sell items on eBay, craigslist or pennysaver.  Most people that buy on eBay or penneysaver are looking for bargains so you may not get the high prices you want.  Garage and yard sales can also give you some extra cash.

Take on extra projects at work. This generally works best if you are paid on an hourly basis or get paid for overtime.

Debt Programs – Have They Worked For You?

 

There are pros and cons to enrolling in a debt reduction program.  That includes debt settlement, debt consolidation and credit counseling.

I want to know if you (or anyone you know) have ever signed up for any of these programs and if so did it help you get out of debt?

You can leave a comment to let us and everyone else know.


Debt Settlement Can Reduce Balances But…

Credit card debt is a major problem these days and medical debt is one of the major causes of personal bankruptcy. Many are at wits end, worrying about debt they cannot pay and many are looking at debt settlement as a solution to reducing that debt.

Debt settlement is a process where your outstanding debts are greatly reduced and you are required to pay only a portion of what you originally owed your lender. You could settle up to 40% – 50% of what is owed.

Debt settlement can have you debt free in a 12-36 months compared to years of paying high interest balances.

Debt Settlement Companies and The Better Internet Bureau. WHAT?

I have seen a few “Debt Settlement” web sites that display a “Better Internet Bureau” Icon.  What exactly is that?  Well if you click the icon nothing happens. After doing a little more digging I found that an internet marketing company seems to be the one that came up with the idea as a way of promoting web sites. 

The icon looks a lot like the Better Business Bureau icon.  Are these debt settlement sites trying to deceive potential clients?  At this point I don’t see any real value in this service. Correct me if I am wrong.