You may believe that there are few methods to help yourself and eliminate credit card debt, and that filing for bankruptcy is likely your only option. However, we would like to inform you that you have another option that is significantly superior to the first.
Consider the available alternatives. Conduct a comprehensive investigation to determine how much money you have. Next, approach the creditor and attempt to negotiate the amount you must pay to settle your debt. Try to persuade him of your hardships and negotiate a payment amount that you can afford. If you are not confident in your communication skills, you can always contact a debt settlement company that handles these matters on a professional level.
Typically, these individuals examine your credit history and outstanding assets and properties, and then negotiate a discount with the lending institution. Now, if done properly, you may have to pay as little as 20% of the original amount, plus a portion of the amount you saved to the debt settlement firm that fought for you as their fees.
However, after making all the payments, you can still save a substantial amount and pay off your debts. Obviously, this will appear on your credit report and have a negative impact, but the impact will be significantly less severe than if you filed for bankruptcy.
You may even be required to pay income tax on a portion of the money you saved, as it will appear as a form of income on your balance sheet. However, in the end it is still a decent deal.
However, be cautious when selecting a debt settlement company, as there are numerous illicit companies on the market that are likely to take your money and vanish. Conduct appropriate research prior to investing.""
" - https://www.affordablecebu.com/
