OPTIONS LEARNING CENTER

> You only have a few options:
  1. Credit Counseling – best for your credit, can you afford it?
  2. Get a loan – Behind or over-extended, can't do it.
  3. Bankruptcy – Rather have a 13 or Settlement?
  4. Pay creditors directly – If your pay forever plan was working, you wouldn't be looking for help.
  5. Debt Settlement Group
Debt Relief   |  Debt Settlement   |  Debt Consolidation   |  Credit Counseling

Bankruptcy   |  Bankruptcy Alternatives   |  Do-It-Yourself Debt Settlement

Debt Settlement Scams   |  Shopping Debt Settlement   |  Bad Credit

Bankruptcy Alternatives

Bankruptcy should always be a last resort. It has long term effects on your credit rating, can be emotionally stressful, and may impact your chances of getting a new job in the future. There are a number of bankruptcy alternatives that you ought to consider before you decide to file for bankruptcy.

Debt Settlement – DebtRX offers a debt settlement program that can reduce your total unsecured debt by negotiating with your creditors to agree on a smaller settlement payment that can be paid off in one lump sum as opposed to your higher debt paid off in monthly increments. Our program allows most clients to pay off their debts within 12-48 months. Debt settlement is the fastest and most aggressive route to settle debts.

Debt Consolidation Loans – It may be possible for you to take out a single, larger loan and use that money to repay all of your smaller debts. This allows you to consolidate all of your debt so that you are only making one larger payment a month instead of having to keep track of many smaller payments. The problem with debt consolidation loans is that they often carry high interest rates, and in order to take out such a large loan, you may have to use your home as collateral, which means that if you aren’t able to make the payments you may lose your home.

Credit Counseling – Consumer Credit Counseling (CCC) Programs are a common alternative to bankruptcy. Under a CCC program, your creditors may be willing to reduce interest rates and waive over-limit or late fees. You will still be required to repay the full balance and you will continue to pay interest. Generally these programs will take you five years to complete, although many people who use these programs end up having to file for bankruptcy anyway.