It depends on the amount you in your debt. If your debt is a large sum and figure, the best and most ideal thing would be to declare bankruptcy. If not debt settlement would be much easier.
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
A bankruptcy will be listed and hold your credit score down for 10 years, while the delinquent payments incurred while enrolled a Debt Settlement program will be there for only 7 years (and in some instance, even less). So at a minimum, your credit report will be cleared at least three years earlier when using Debt Settlement company as opposed to bankruptcy. Another important factor to remember is that a typical debt settlement program ultimately resolves your debts for much less than other debt relief options. And, unlike bankruptcy, you won't have to sell your house or other assets in order to free yourself of your liabilities. Also remember that there are several other debt help options out there besides Debt Settlement and Bankruptcy, such as Credit Counseling and Debt Consolidation Loans, and that each has their own upsides and downsides, so it is important to evaluate each carefully and examine how they fit into your overall needs and goals.
Debt settlement will have some bad effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.
The company/bank may be willing to negotiate a settlement to avoid the consumer filing bankruptcy. Or perhaps to avoid pursuing legal remedies to collect the debt. They will not consider a settlement if the consumer is simply asking to pay less than the full amount. For obvious reasons.
Answer:Debt settlement will have a larger effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.I took help of Freedom Debt Relief to settle my credit card debts, its been more than a year that I enrolled into their program and now I am almost debt free.
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
A bankruptcy will be listed and hold your credit score down for 10 years, while the delinquent payments incurred while enrolled a Debt Settlement program will be there for only 7 years (and in some instance, even less). So at a minimum, your credit report will be cleared at least three years earlier when using Debt Settlement company as opposed to bankruptcy. Another important factor to remember is that a typical debt settlement program ultimately resolves your debts for much less than other debt relief options. And, unlike bankruptcy, you won't have to sell your house or other assets in order to free yourself of your liabilities. Also remember that there are several other debt help options out there besides Debt Settlement and Bankruptcy, such as Credit Counseling and Debt Consolidation Loans, and that each has their own upsides and downsides, so it is important to evaluate each carefully and examine how they fit into your overall needs and goals.
DebtBusters has been in the business of Debt Settlement for more than 20 years. They provide real solutions to real people about bankruptcy and other debt problems.
Debt settlement will have some bad effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.
The company/bank may be willing to negotiate a settlement to avoid the consumer filing bankruptcy. Or perhaps to avoid pursuing legal remedies to collect the debt. They will not consider a settlement if the consumer is simply asking to pay less than the full amount. For obvious reasons.
Answer:Debt settlement will have a larger effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.I took help of Freedom Debt Relief to settle my credit card debts, its been more than a year that I enrolled into their program and now I am almost debt free.
you cant put a debt in your bankruptcy that is less than 6 months old.
Yes, it does... Debt Consolidation hurts less than Debt Settlement.
UK. Bankruptcy £15,000 or more. If you have less than £15,000 worth of debt, sustainable under 15k for the duration of one year and meet certain criteria, you may qualify for a debt relief order, which is, in effect, a mini bankruptcy.
More than they can pay
ALL of these are false: A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy
A collection agency debt settlement means when someone is in debt and a company offers a settlement amount to the creditors owed. Payment arrangements are discussed and made, sometimes the amount is way less than the actual bill.