Filing Bankruptcy - How To Avoid Bankruptcy Filing And Settle Your Unsecured Debt?

Sept. 15, 2010 - PRLog -- If you are an American credit card debtor with enormous amount of unsecured debt without having the ability to repay it, then still don't worry because now, there are several debts relief options available for you.

Through these programs, you can easily come out from your loans without filing for bankruptcy. You must keep in mind that bankruptcy is the most devastating step which can destroy your whole life whether social or financial, it will affect both with same intensity.

Not only you but your family will also suffer from its intensely bitter consequences. You must avoid such situation because other feasible and highly beneficial options are available for you. You can exercise these alternative options in your best interest without declaring yourself default.

These options are generally known as debt relief programs which include debt settlement, debt consolidation, credit counseling and several other programs. These programs enable you to avoid the threats and harassments of your creditors and repay your massive debt as per your own terms.

You can avail any program which best suits your need but is in your best interest. Before taking final decision, you must know about two of them because they are widely used and most beneficial programs.

Let us first discuss about the debt consolidation. In this program, as its name suggests, you can get a consolidated loan based on the collateral over its back. This asset backed loan will be offered to you to wipe out all of your existing unsecured liabilities at once and repay this loan with lower interest rates. This loan is offered with fixed and lowered rates for shorter period of repayment time i.e. you can easily get rid of it in just four or five years very easily and affordably.

Whereas, in the debt settlement program, you can entitle yourself for reductions in your debt by even more than half by realizing and negotiating with your creditors that you are unable to repay your loan. Through this, your massive liability amount reaches at a very affordable level, which you can easily and instantly repay in lump sum.

Debt settlement is the best alternative to bankruptcy and usually makes financial sense for consumers with over $10k in unsecured debt. Consumers can expect to eliminate 50% of their unsecured debt on average.
Free Debt Advice
(http://www.OfficialDebtSettlement.com)

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If you are on the verge of filing bankruptcy it would be wise to look into a debt settlement program. Debt settlement allows consumers to avoid bankruptcy and still eliminate 50% of their unsecured debt. While your credit score will take a hit it will not be nearly as bad as bankruptcy. To locate legitimate debt settlement companies in your area for a free debt consultation check out the following link:
Free Debt Advice
(http://www.OfficialDebtSettlement.com)

Or Call - 877-853-6466