Credit Card Debt Relief Help - Should I Borrow Money From My Family Or Go to Debt Settlement?
This may seem like a straightforward question but it is not as simple as it looks.
Anyone who is in deep debt is going to want to get out of it as quickly as possible.
If your credit rating has gone through the floor and you owe over five figures on credit card debt you can be sure if you do not pay it off the next thing you know is the debt collectors will be after you.
Why should you go to debt settlement rather than go to your family who can pay all the money off? The answer is this.
First of all you may have to pay off whoever you borrowed the money from in full.
Even if you do not they are still paying back the full amount and it is possible to avoid doing this.
If you are unable to pay your credit card debts yourself for any reason such as a job loss or a drop in household income there are other avenues you can take to eliminate this debt legally.
How can you get rid of this debt? One solution is through debt settlement.
This works by approaching a debt settlement company.
They will then examine your debt and negotiate with your lenders to help you cut it.
It is possible to cut this by up to half.
They will then arrange payments to pay off the remaining amount of the debt at a rate you can afford.
You then have a choice of either borrowing that money from the brother or sister or relative who offered it and you will only have to borrow half as much, or you can make the payments yourself if you can afford to do so.
Once you find yourself in need of credit card debt relief your credit score has probably already taken a hit.
Debt settlement will get your credit score back up eventually after you pay off the outstanding amount and this will usually take a year or two.
It is better than having a bad credit record for seven years or ten with bankruptcy.
If you are in debt like this and need help debt settlement is a possible solution for you.
Whatever you do get advice first and do not wait until the debt collectors are closing in.
You may be able to pay off all your debts quicker than you think and in full as well.
Anyone who is in deep debt is going to want to get out of it as quickly as possible.
If your credit rating has gone through the floor and you owe over five figures on credit card debt you can be sure if you do not pay it off the next thing you know is the debt collectors will be after you.
Why should you go to debt settlement rather than go to your family who can pay all the money off? The answer is this.
First of all you may have to pay off whoever you borrowed the money from in full.
Even if you do not they are still paying back the full amount and it is possible to avoid doing this.
If you are unable to pay your credit card debts yourself for any reason such as a job loss or a drop in household income there are other avenues you can take to eliminate this debt legally.
How can you get rid of this debt? One solution is through debt settlement.
This works by approaching a debt settlement company.
They will then examine your debt and negotiate with your lenders to help you cut it.
It is possible to cut this by up to half.
They will then arrange payments to pay off the remaining amount of the debt at a rate you can afford.
You then have a choice of either borrowing that money from the brother or sister or relative who offered it and you will only have to borrow half as much, or you can make the payments yourself if you can afford to do so.
Once you find yourself in need of credit card debt relief your credit score has probably already taken a hit.
Debt settlement will get your credit score back up eventually after you pay off the outstanding amount and this will usually take a year or two.
It is better than having a bad credit record for seven years or ten with bankruptcy.
If you are in debt like this and need help debt settlement is a possible solution for you.
Whatever you do get advice first and do not wait until the debt collectors are closing in.
You may be able to pay off all your debts quicker than you think and in full as well.
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