Share post
Share
Debt Consolidation Forums Debt Consolidation and Debt Settlement forums

How repay credit card debt fast

Date: Tue, 10/01/2019 23:23
member profile picture
Posts: 1
Credits: 0
[Donate]

How long will it take to complete a debt settlement program? Will it be faster if I opt for banktruptcy? But, I have heard that bankruptcy reduces score. So, what should I do.




Usually, the settlement company tries to settle your debts to the amount which you can afford and arrange a monthly payment plan for you. That's why they usually make an analysis of your financial condition before proceeding further. So, I can say that it solely depends on your financial condition and debt amount that whether you should opt for debt settlement or filing for bankruptcy!

Sub: #1 posted on Wed, 10/02/2019 - 00:55

Craigh.terry Craigh.terry

(Posts: 273 | Credits: )

If you file Chapter 7 bankruptcy, it will take 3-4 months to discharge debts. If you file Chapter 13 bankruptcy, then it will take 3-5 years to pay off your debts. If you choose a debt settlement program, then it will take 2-3 years to repay your debts.

Both debt settlement and bankruptcy drop credit score. But bankruptcy hits your credit score more drastically.

Sub: #2 posted on Wed, 10/02/2019 - 02:30

Nick Jonas Nick Jonas

(Posts: 425 | Credits: )

It depends on the amount you want to settle. However, usually, the settlement company gives a monthly payment plan to the debtor.

Sub: #3 posted on Mon, 10/14/2019 - 05:41

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )


DebtConsolidationCare (IAPDA member)
BBB (A+) logo for DebtCC
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2020 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 1.276 seconds.