Wednesday, August 20, 2008
When debtors fail to pay their enormous debts, many of them turn to declaring bankruptcy. However, almost every financial adviser will most likely agree that bankruptcy should be the absolute last solution to resort to. The truth is bankruptcy rarely should be the last resort. Even when the sky is falling down with massive debts, you can still turn to debt consolidation services.
Although you still have to pay through all the monthly debt payments, consolidating your debts will drastically lower the monthly interest rate, where as declaring bankruptcy will leave you with a 10-year bad credit record. By lowering the interest rates per month, the rate you have to pay per month significantly reduces to as low as 57%. This is equivalent to half the financial burden off your shoulder. This is a clearly much more comfortable standpoint than declaring bankruptcy and enduring 10 years of being turned down by insurance, jobs, and bank loans.
Check out what Bankruptcy Attorney Jamie Ryke has to say about avoiding Bankruptcy:
Whether it is credit card debts, bill debts or student loans, non-profit debt consolidation services can help you lift a considerably large financial baggage off your shoulder. Lower interest rates equal lower monthly debt payments, which all leads to a better financial standing. With such a good offer, it is undoubtedly unwise to declare bankruptcy when you still have a promising option ahead of you.
Tuesday, August 19, 2008
If you are in a huge debt and on the brink of declaring bankruptcy, think again. You may think that you are out of all possible solutions, but the truth is you are not! If you think there are no other options, then you must have overlooked debt consolidation. With non-profit debt consolidation you still have to pay your debts, but at a much lower interest rate, resulting up to 57% of the original rate per month in most cases. Some may think that declaring bankruptcy is the easy way out and an end to having to pay all the debts, but that is definitely not true. Declaring bankruptcy often entails forfeiting personal assets and ruins your credit report for at least ten years. Furthermore, you will be turned down by countless bank loans, mortgages, insurance, and even jobs. In short, you will no longer have control with your own financial life (and virtually your entire life) once you declare bankruptcy.
Clearly, avoiding bankruptcy would be the wisest decision. Consult debt consolidation organizations to cut down your monthly debt rates. Debt consolidation organizations will negotiate with your debtors and arrange for a much lower interest rate, relieving you from some financial trouble in the long run. Not only will you have to pay a lower amount each month, debt consolidation (especially non-profit consolidation services) can lower a 15% interest rate to as low as 2%. If you are truly suffering from fear of bankruptcy, get your debt consolidation quote today for a better financial tomorrow.