Bankruptcy will stay on a credit report for up to ten years. Because of this, more and more individuals are opting to two other popular options. These options include debt settlement and debt consolidation.
(prHWY.com) January 19, 2012 - Miami, FL -- It is not always easy to know when to seek
debt relief. HamiltonDebtRelief.com is helping consumers know if it is the best time to seek help and what the individual's best options are. Large debt in any form can be stressful and frustrating. Large mortgages, car notes, credit card debt, or other forms of debt coupled together can be overwhelming. If it is the best time, HamiltonDebtRelief.com can help determine options other than bankruptcy.
Bankruptcy will stay on a credit report for up to ten years. Because of this, more and more individuals are opting to two other popular options. These options include debt settlement and debt consolidation. Either one of these options will look more favorable on a credit history report.
Debt settlement is eliminating part of the debt. By negotiating with creditors, part of the debt can be forgiven. For a successful settlement, a consumer can pay only pennies on the dollar. These settlements are usually negotiated by a professional settlement company rather than the individual.
Debt consolidation is combining all the debts into one manageable payment a month. This is not reducing the debt; it is stretching the payments out over a longer term. Having a longer term makes the payments less expensive per month. Interest rates on the individual loans can change, as all the loans have essentially been rolled over into one large loan. This, like debt settlement, is done by a professional debt consolidation company.
As more and more Americans find themselves in over their heads with debt, it is imperative to find the right time to receive
debt relief. While the monthly payments do need to be taken care of, the underlying problem needs to be addressed also. Many people put off seeking help until debt is piled up as far as the eye can see. As the general rule is an individual owes more or less $10,000.00 in debt or is unable to afford the monthly minimum payments, it is time to seek assistance. For those who can afford the monthly payments, the credit score stays high and there will be no collection agency calling. However, with a load of debt it is nearly impossible to not feel some degree of stress.
Whether it is debt settlement or debt consolidation, HamiltonDebtRelief.com will take the time to determine the right time and way to handle the debt. With manageable monthly payments, it is a load off the shoulders. Contact HamiltonDebtRelief.com to schedule a no obligation consultation today.
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