The Best Bankruptcy Alternatives - Debt Settlement Vs Credit Counseling


Filing bankruptcy is not a better solution to credit card debts. There are many other best bankruptcy alternatives that can help people in regaining the financial freedom without hurting the credit scores. Debt settlement and credit counseling are the two best bankruptcy alternatives. A person can make comparison between these two debt relief options. Anyone who does know how to do that should take assistance of the professional debt relief advisor or a well seasoned attorney. He will help you selecting the right option.

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Debt settlement process is totally authentic and legitimate. Although creditors don't inform their customers about these programs but they are legal. The Government of United States is taking keen interest in the settlement process. This is the only option that can provide relief to parties, the borrowers and the lenders. For getting a successful deal with more reduction, a person should look for hiring professional attorneys or good settlement companies. These people deal with such cases on daily basis so they have much more experience as compared to the normal people. Always try to find legal companies. For this purpose, you can search the official websites of Better Business Bureau or The Association of Settlement Companies. Through a settlement, a person can get his debts eliminated up to 50% or more. For this reason, this is most beneficial option to opt for among all other methods.

Training and education about credit management is provided in credit counseling. This option does not provide any reduction in debts as settlement does. A person who wants to save his credit history and wants to pay his debts without any elimination and reduction should try this best bankruptcy alternative. In this program, different workshops and lectures are offered to people. Mostly these counseling programs are run by the government and non-government agencies. Military agencies are also providing counseling services. As millions of people are buried under the stacks of debt, many organizations offer counseling free of cost. This is because if all these people will go for filing bankruptcy then credit card business will ruined in a few years. There were millions of bankruptcy filings that were filed in the year 2010. This number is increasing day by day.


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