debt settlement

debt settlement is for those who cannot pay directly to their creditors or cannot afford the monthly payments set in the consolidation plan. Basically, people in real financial stress and thinking ahead of filing bankruptcy consider this program.

Your present income will determine which program is the best for you. First figure out whether you can pay your creditors on your own. You can negotiate with them to lower down the interest rate. If they are willing to work out a plan suitable to you, stick with them.

If this doesn't work, look into a consolidation program and see if you can afford the payments there. It will be lower than what you are paying at present.

If you cannot pay that also, debt settlement39 is the option or else bankruptcy at the last. Go through your income and expenses and review your financial situation. You will know the best move in your case.

You are having the right thoughts about being worried of your credit for the future. When you are thinking this way, you also need to consider paying your debts. And for this, you have to pick one plan. Even bankruptcy is not bad if it's eliminating the debts at the present situation and keeping in mind that creditors may take the case to the court because of the defaults or send it to collections.

Please research the debt settlement company thoroughly with the BBB, FTC, and your state's AG's office to see what kind of history or complaints that they have. It will hurt your credit while you are in the program but I'm not sure what company that you are thinking about going with. I know some claim to help to restore your credit after the program ends. Have you checked into credit counseling services in your area?