How to choose

Look at your debt relief options in terms of qualification:
Debt consolidation is the most benign way to seek debt relief when suffering a financial crisis. If you can afford the monthly debt consolidation payment and know that you cannot get out of debt making minimum payments at high interest rates, you must select debt consolidation. Read more about debt consolidation.

A Debt consolidation / management program is not a loan. A debt consolidation loan requires good credit to qualify. A debt consolidation / management program does not require good credit. In fact, we don’t require a credit check at all. Trying to obtain a loan is probably not advantageous to you since you may be overextended to begin with. Selecting a debt consolidation loan option is usually for very disciplined debtors with good credit who will cut up their credit cards, close their accounts and not get into further debt until the loan is paid off.

Equity lines of credit take your unsecured debt and secure it with your home as collateral. Although you can write the interest off as an itemized tax deduction, this is a risky option should you become unable to make the monthly payment. Instead of bad credit, you would be facing a foreclosure. Can you really afford to gamble with your home? If you still feel that this is your option, we can help.

Debt settlement is for those individuals who are behind in their monthly payments, cannot afford the monthly minimums and cannot afford the debt consolidation payment. We only recommend debt settlement if you cannot afford a debt consolidation program payment.

Bankruptcy is an option for debtors who simply cannot afford debt consolidation or debt settlement and do not mind having their non exempt assets liquidated by a trustee to satisfy their debts. These non exempt assets include real estate, boats and automobiles. In many cases, bankruptcy may be preferable to debt settlement. For legal advice, please consult a bankruptcy attorney in your area or contact us to show you how to find one in your area.