Debt Settlement is quickly becoming the most preferred solution to alleviate your debt.  Before you make a decision concerning your financial future take some time to research and compare your options.

Debt Consolidation

Debt Consolidation typically refers to combining all of your debts into one monthly payment.  Debt Consolidation does not reduce your overall debt.  You will still pay back 100% of your balances plus interest.  In addition most Debt Consolidation programs will take from 5-7 years to get out of debt.

Credit Counseling

Consumer Credit Counseling Service (CCCS) was originally created by a major credit card company.  Credit Counseling is similar to Debt Consolidation.  CCCS will not reduce your overall debt.  You will still pay back 100% of your balances plus interest.  In addition your credit report may show that a third party is managing your debt. 

Bankruptcy

Congress recently passed legislation that limited an individual’s ability to qualify for bankruptcy.  Bankruptcy cases are filed in a Federal U.S. Bankruptcy Court.  Bankruptcy cases most often require hiring an attorney and a series of court dates and hearings.  Even with Bankruptcy you still may end up paying the majority of your debt.