- Bankruptcy can help to avoid foreclosure. No other program can do this. Hypothetically
speaking if a consumer joins on a program such as debt negotiation or consumer credit
counseling, consumers will have an increase in their monthly cash flow, helping them to pay
their mortgage and avoid foreclosure. Credit card relief programs can help consumers with avoiding foreclosure in that way.
However with Chapter 13 Bankruptcy, a person would pay off the “arrearage” (late unpaid payments) over the length of
a repayment plan proposed, which is usually five years and that can help a person
to avoid foreclosure.
- Bankruptcy can help to avoid foreclosure. No other program can do this.
- Bankruptcy can help to avoid wage garnishment.
- Creditor’s harassment should stop after filing for bankruptcy, where with
creditor harassment will not stop right away.
- Certain debts will be discharged with bankruptcy and this will not occur with other programs such as
consumer credit counseling or debt negotiation.
- Chapter 7 bankruptcy could lead to the possible loss of nonexempt property.
- Bankruptcy can ruin a person’s credit for 7-10 years.
- Attorney fees can be high, plus court fees, plus pre-bankruptcy credit counseling fees and possibly more fees
for the credit education course required after filing.
- Chapter 13 bankruptcy payment plans can last for 5 years and a consumer’s payment will typically be higher
than what it would be on a debt settlement plan.
- Credit Card Relief Programs including debt settlement and debt management are much better options for consumers
needing debt relief if they can qualify. However sometimes consumers will not qualify for
these programs and bankruptcy is their only option.
- It is important for consumers to read and get educated for free, before joining on any program.
Reputable debt settlement
Reputable debt settlement or non profit consumer credit counseling companies have debt counselors available to assist consumers with free information regarding all credit card relief programs. Education is also included on how to hopefully stay current and avoid having to join any program.
Simply CALL 866-376-9846 to see what Credit Card Relief Program you could qualify for!
Bill A. Kentucky
A satisfied client that used Golden Financial Services for credit card relief.
Credit Card Relief Program
Written by: Bill A. - Saved $8,900
Date Published: 11/18/2013
5 / 5 stars