Would You Trade a Lower Credit Score to Eliminate 60% of Your Unsecured Debt? -
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You are here: DIME Home > Business > Would You Trade a Lower Credit Score to Eliminate 60% of Your Unsecured Debt?
This is a question that many individuals face if they have a large amount of debt. Each day you hear about companies offering to help settle your debt or that a new economic stimulus package is going to help. Before answering, the question above it is important to consider what you would be trading your lower credit score for.
Author: Erik Stump
Date: Jan 26, 2010 - 11:18:35 PM
This
is a question that many individuals face if they have a large amount of
debt. Each day you hear about companies offering to help settle your
debt or that a new economic stimulus package is going to help. Before
answering, the question above it is important to consider what you
would be trading your lower credit score for. Other
economic stimulus packages gave taxpayers a direct rebate check. Most
individuals used this money to forward it to creditors in order to get
rid of their debt. This means that previous attempts to stimulate the
economy simply went into the pockets of banks and credit card
companies. The new stimulus plan offered by Obama doesn't have any
provision for sending rebates directly to individuals and as a result,
many individuals are facing a rise in debt balance. You
can use a debt elimination program for you secured debts like
mortgages, auto loans, student loans and medical bills. However, even
with a lower credit score you would be getting rid of your credit card
payments so you could apply that extra money to pay for these other
obligations. Debt
elimination isn't for everyone and it is important that you take the
time to understand just how and why you can get rid of unsecured debt.
Elimination of your debt is different from bankruptcy, consolidation or
a refinance. When you understand the basic premise of these elimination
programs, you will be able to get rid of the fears associated with
choosing the elimination method of debt relief. You
don't have to be into the law to understand the process on how all this
works. However, you are going to need to prepare yourself to learn some
unfamiliar information. This can be a good use of your time since you
will be saving thousands of dollars. You don't have to pay for this
knowledge, it's just a little hard to find. If
you want to find the top performing debt settlement companies then
here's some very important advice. Do not go directly to a particular
debt settlement company but instead go to a debt relief network that is
affiliated with several established debt settlement companies. In order
to be in the debt relief network, the debt settlement companies must
prove a track record of successfully negotiating and eliminating debt.
They must also pass an ethical standards test. Going through a debt
relief network will ensure that the debt company you are provided with
is a legitimate and respected company. FreeDebtSettlementAdvice.com
is one of the largest and most respected debt relief networks on the
marketplace today. To find a debt settlement company through
FreeDebtSettlementAdvice.com check out the following link:
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