If you do not fit into this category, then neither debt settlement nor Bankruptcy is suitable for you. Do not be in a hurry to opt for either option. There's no doubt that both these options offer fantastic benefits. However, these benefits will be enjoyed only if you make use of this option when you really need it. If you are simply facing the problem of high interest payments, then you should get in touch with your lender and negotiate a reduction in the interest rate for a short period of time. You can even enter into contract in writing that you permit the company to charge higher rate at a later date. Do not believe anybody who says that this cannot be done. Your loan owed lender is nothing but a contract between you and the lender.
If you and your lender agree, the entire debt can be settled without repayment of even a single cent. On the other hand, if you and your lender agree, the monthly repayment can be brought down to a very small amount and repayment tenure can be extended for years at a stretch. The only thing important here is that you and your lender both should agree to the deal.
This information will be very beneficial when you're dealing with a fraudulent settlement company. You can make use of different ideas and innovative approaches to find out whether the settlement company is prepared to negotiate. If the settlement company refuses to change its strategy or even consider a change and insist on sticking to it's tried and tested method, such inflexibility and rigidity should be viewed with suspicion. You should be given a simple but easy to understand explanation why your suggestions cannot be used.
Combine all the information you get on the web along with the list of service providers you can obtain from debt relief networks and forums to identify the right settlement company. Always keep in mind that finding the right company is not difficult provided you rely on the right sources.
If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called "Free Debt Relief Networks" that are a great place to start in locating legitimate debt settlement companies in your region. They provide free debt help and know where to locate the top performing debt settlement firms. To get free debt help check out the link below: Free Debt Advice
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