may be right for you if you are dependent on your credit cards
to help offset your monthly household expenses or if
you have just
fell behind and can no longer afford to pay a regular monthly
payment to your creditors. If you are behind to the point that
you are now dealing with a third party collection agency, or law
firm settling your bills may also be an option. Anytime your
livelihood is at stake and bankruptcy is not an option than
settling your bills may be appropriate.
Below are some
pros and cons of a Debt Settlement program:
The Pros of Debt Settlement:
set-aside amount may be much more affordable.
to bankruptcy, which is more difficult with bankruptcy reform in
things by giving one simple payment each month, and a timeline
to have your bills paid off.
professional representation during a critical financial period
in your life. (Not legal advice or representation)
The Cons of Debt Settlement:
You might have
to experience normal creditor collection activity with
delinquency. No company will have the legal authority to prevent
all creditor calls.
refuse to settle debts. Every situation is different and no
company can guarantee that all creditors will agree to negotiate
If you do not
make required minimum payments to your creditor you may be
breaking the terms of your agreement with them and your actions
will probably be reported to consumer reporting agencies as
late, delinquent, charged-off or past due balances.
What kind of loan are you looking for?
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