Tuesday, August 19, 2008
Debt Consolidation: Saving you from Bankruptcy
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.