Credit Card Debt Bankruptcy - Avoid Bankruptcy and Still Legally Eliminate Debt With a Settlement
Get in touch with any old timer and you will be told that the only way to escape your creditors is to opt for bankruptcy.
All other solutions will only delay the inevitable.
Sooner or later, your creditors will land on your door and demand full repayment of your debt.
Depending upon the size of the debt, they may be prepared to give you one or two percent discount in exchange of prompt payment.
Today, there is a financial tool that helps you escape your debts without declaring bankruptcy.
That tool is called debt settlement.
The tool is not a new one.
It has been around since the onset of credit and debt came into existence.
The only point here is that the average individual was carefully kept away from this concept known as settlement.
Financial institutions and nations often settled debts with each other.
However, the average individual was indoctrinated that he or she had no option but to repay their debts in full.
The latest recession to hit the economy changed the established order.
Lenders were compelled to seek assistance of the government, which was offered in the form of the stimulus package.
Once this happened, it was very difficult for the lender to lecture on the importance of settling debts properly.
Individual borrowers too started demanding debt settlements.
In the past, one or two bankruptcies were considered par for the course.
Lenders were prepared to tolerate a few hundred bankruptcies if it meant teaching a lesson to the borrowers.
However, the system was just not prepared for the sheer number of bankruptcies that hit the economy after the recession took place.
The melt down of the employment market combined with the collapse of the housing boom meant that individuals had very little money left in their hands.
Lenders soon realized that the only way to solve the problem was to offer settlements.
If you are worrying about the legality of this option, then keep in mind that lenders sign on the dotted line and the waiver is formalized as a written agreement.
Once that happens, it would be as if the original debt was never included the amount that now has to be repaid.
Avoid solutions like bankruptcy that cause more harm than good.
These fall in the category of last ditch efforts to escape debt problems.
Instead, opt for a practical and goal oriented solution and tool like settlement.
All other solutions will only delay the inevitable.
Sooner or later, your creditors will land on your door and demand full repayment of your debt.
Depending upon the size of the debt, they may be prepared to give you one or two percent discount in exchange of prompt payment.
Today, there is a financial tool that helps you escape your debts without declaring bankruptcy.
That tool is called debt settlement.
The tool is not a new one.
It has been around since the onset of credit and debt came into existence.
The only point here is that the average individual was carefully kept away from this concept known as settlement.
Financial institutions and nations often settled debts with each other.
However, the average individual was indoctrinated that he or she had no option but to repay their debts in full.
The latest recession to hit the economy changed the established order.
Lenders were compelled to seek assistance of the government, which was offered in the form of the stimulus package.
Once this happened, it was very difficult for the lender to lecture on the importance of settling debts properly.
Individual borrowers too started demanding debt settlements.
In the past, one or two bankruptcies were considered par for the course.
Lenders were prepared to tolerate a few hundred bankruptcies if it meant teaching a lesson to the borrowers.
However, the system was just not prepared for the sheer number of bankruptcies that hit the economy after the recession took place.
The melt down of the employment market combined with the collapse of the housing boom meant that individuals had very little money left in their hands.
Lenders soon realized that the only way to solve the problem was to offer settlements.
If you are worrying about the legality of this option, then keep in mind that lenders sign on the dotted line and the waiver is formalized as a written agreement.
Once that happens, it would be as if the original debt was never included the amount that now has to be repaid.
Avoid solutions like bankruptcy that cause more harm than good.
These fall in the category of last ditch efforts to escape debt problems.
Instead, opt for a practical and goal oriented solution and tool like settlement.
