41 Ways to compare and contrast major debt relief options

# Questions Interest Rate Arbitration Debt Management Debt Settlement Bankruptcy
1. Will you get free budget counseling?
2. Does principal amount get reduced?
3. Does interest rates get reduced?
4. Does it affect credit score negatively? ? ?
5. Does it help increase your credit score? ? ?
6. Will it help getting rid of creditor/collection calls? ?
7. Does it help repay unsecured debts?
8. Does it help repay secured debts?
9. Can you discharge unsecured debts?
10. Can you discharge secured debts?
11. Does it help repay tax debt?
12. Are creditors bound to accept it? ? ? ?
13. Does it kill your debts?
14. Do you have to pay any professional fee? ?
15. Do you need to pay upfront fee? ? ? ?
16. Can creditor come after you for remaining balance?  N/A  N/A
17. Do you need to pay any tax? ?
18. Can you preserve your privacy?
19. Will it help you obtain new loans in future? ? ? ? ?
20. Do you become debt free within few days?
21. Can you still be sued?
22. Can you incur debt again?
23. Do you need a collateral?
24. Can you repay debts with single monthly payments?
25. Can late fees get waived off?
26. Do you have to pay a penalty?
27. Is there any chance of wage garnishment?
28. Does it wipe out community debts?
29. Does it remove lien?
30. Does it stop foreclosure?
31. Do you need to save money in a trust account?  N/A  N/A  N/A
32. Do you need to appoint a lawyer?
33. Do you need to sign any agreement?
34. Does it provide legal protection?
35. Can creditors contact you?  N/A ? ?
36. Can you do it yourself?
37. Should you continue using your plastic cards?
38. Is it a legal solution?
39. Does it help you repay your payday loans?
40. Does it help repay student loan? ? ? ?
41. Does it help you pay off your medical bills?

Last Updated on: Sat, 24 Feb 2018