While the debt settlement strategy approach
is not suitable for everyone, its flexible nature makes it applicable
to a wide range of financial circumstances. For individuals and
families seeking an alternative to bankruptcy,
there is simply no better option to get out of debt.
Here are a few guidelines to help you determine whether or not
debt settlement is something you should consider:
- Do you have a legitimate financial hardship condition?
Most debt problems are caused by loss of income, medical issues,
or divorce/separation. These are legitimate
financial hardships that can happen to anyone through no fault of their own,
and any one of these situations can wreak havoc on a household
budget. The important point here is that the debt
settlement system is not a "free lunch" for
people who don't feel like paying their bills. If you are
over your head due to a hardship circumstance, and you'd
prefer to work things out with your creditors rather than declare
bankruptcy, then
debt settlement can provide an honest and ethical debt
relief alternative.
- Are you committed to avoiding bankruptcy?
Debt settlement is best viewed as a bankruptcy
alternative,
one that allows you to keep control over the process and
maintain privacy while working through your financial difficulties.
As with most things in life, success is determined by your
level of commitment to staying the course, even when the
road gets a little bumpy. If you are likely to give up at
the first rough spot, then debt settlement is probably not
the best choice for you. But if you are determined to avoid
bankruptcy, debt settlement will likely be the most attractive
debt solution for you.
- Do you owe more than $10,000 in unsecured debt?
We are the first to admit that debt settlement
is strong medicine,
and it should be reserved for serious
debt problems. While
everyone's budget is different, most people can work their
way out of smaller debt obligations. If
you only owe $5,000, for example, unless you are really in
dire straits you can probably deal with that obligation the
old-fashioned way - by paying off the debt in full,
over time. In other words,
smaller debt loads are more of a budgeting
problem than a
serious financial hardship. At National
Debt Settlement,
we use the benchmark of $10,000 for evaluating whether or
not a prospective client qualifies for our program.
Note:
Exceptions are sometimes made based on hardship circumstances,
so the $10,000 figure should be used as a rule of thumb or
guideline. If you aren't sure whether you meet the requirement,
please call one of our knowledgeable representatives at (800)
995-0616 for a free, no-obligation debt settlement
consultation.
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