• Bankruptcy

• Debt Consolidation Loans

• Credit Counseling (CCC)

• Paying The Credit Card's Minimum Due

• Debt Negotiation

1. Bankruptcy

Bankruptcy should be your absolute last resort. Bankruptcy not only stays on your credit report for up to ten years, it also becomes a public record. This can make it extremely difficult to obtain a loan, mortgage, and even a job. Also, the court fees and the cost of a lawyer can be very expensive.

When should bankruptcy be an option?

Filing for bankruptcy is a very personal decision. There are many circumstances involved in making a move towards bankruptcy. The American Bankruptcy Institute has established a checklist with the following guidelines:

• Your wages have been garnished or your bank account has been attached
• Most of your debts are unsecured debts like credit card bills, hospital or doctor’s bills, etc.
• Your total debt, not including your car or house loan, is more than you could pay, even over five or more years
• Collection agencies are calling you at home and/or at work
• Your payments are more than 30 days behind on more than one bill
• There are lawsuits pending against you
• You have high medical bills not covered by insurance
• You owe income taxes that you are unable to currently pay
• You have few assets
• You have little or no savings
• You have had property repossessed (such as a vehicle)

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2. Debt Consolidation Loans

The Risks of Debt Consolidation Loans
The philosophy is simple: It is impossible to borrow your way out of debt!

Debt consolidation loans do not reduce the amount you owe; instead, you end up paying back 100% of the loan plus interest. You are simply exchanging one debt for another at a lower interest rate.

When applying for a debt consolidation loan, you will be asked to secure the loan against some form of asset (collateral); usually a house or car. But this transfers your unsecured debt to a "secured" loan, which puts your assets at risk! Numerous loans are consolidated into a home equity loan that is stretched out for up to a 30-year period!

Those who enter a debt consolidation loan program often neglect to cancel their credit cards. Armed with an open credit line, most people rack up credit card charges again and find themselves in even deeper debt! In the end, not only will the consolidation loan need to be repaid, but the credit cards for a second time as well! What would you do without your home or car if you had unforeseen financial difficulties and were unable to make your debt consolidation loan payments?

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3. Credit Counseling

The benefits you can expect to receive through credit counseling are that they have prearranged figures with creditors to reduce your interest rate and minimum payments.

However, some creditors will not go below 20% interest rate, and some refuse to participate in these programs. All of your credit cards will also be cancelled and you will need to pay 100% of the full debt amount, including interest!

But there's more. Did you know that your new monthly payment through credit counseling is generally higher than the original minimum payment on your accounts? How can you handle paying a HIGHER monthly payment when you are already struggling to make ends meet? These programs can take about 4 to 7 years to pay off your creditors.*

*Source: ADMO

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4. Paying The Credit Card's Minimum Due

Paying only the minimum amount due on a credit card almost guarantees your debt will not be paid off for at least a decade. In most cases if you only pay the minimum due, you may never pay off your debt. The minimum payment due is a calculated percentage of your current balance which is usually in the range of 1% to 4%. By only paying the minimum amount due each month, approximately half of that minimum payment goes to pay interest. Although your minimum payment reduces as your current balance decreases, this process takes an extremely long amount of time due to compound interest. Compound interest is paid on the original principal and on the accumulated past interest. Debt settlement gets rid of your debt for a reduced amount.

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5. Debt Negotiation

Finally, a more sensible approach that can affordably, safely, and quickly reduce your debt load! It's called debt negotiation, and Time2Settle.com offers you a superior solution: The Debt Negotiation Program.

The Debt Negotiation is a sensible approach to significantly reducing your debt. The debt settlement process allows you to reduce the amount owed on an unsecured debt and completely negotiate the original balance. Our debt reduction program is one of the most effective alternatives to debt consolidation and bankruptcy, and is tailored according to your financial needs. We help you reduce your monthly payment into one affordable and easy to track payment.

We specialize in helping individuals and businesses gain a second chance at managing their finances. Our professional debt negotiation specialists have established excellent business relationships with creditors around the country, allowing them to negotiate the best terms for the amount you owe. Our negotiators can resolve the conflict between you and your creditors by negotiating a fair financial settlement. A negotiator will personally ensure that you get the best deal possible, within your budget.

We take the time to explain the differences between all of your debt management alternatives, including credit counseling, consolidation and negotiation, and inform you about their impact on your budget, the length of the programs, and their effect on your credit history.

Benefits of a Debt Reduction Program

• Avoid the embarrassment of bankruptcy and long term debt consolidation loans.

• Reduce your personal, business and medical debt.

• Our clients have saved thousands of dollars with our debt negotiation program.

• One of the quickest and most sensible ways to reduce unsecured debt compared to other debt management options.

• Helps to reduce annoying collection calls.

• Credit Report review.

Why call us today?

• We offer a complimentary assessment session over the phone

• We suggest the most suitable option and the program for you.

• We help you lower your debt on average 50%*

• We educate you about how to better handle creditor calls

• We provide you with friendly and helpful customer service

You may qualify for Debt Negotiation if you:

• Have credit card debt or other unsecured debt of $7,500 or more

• Are delinquent on your credit card payments

• Are going through a legitimate financial hardship

• Are finding it difficult to make minimum payments

LET US GUIDE YOU IN HOW TO GET STARTED!

Call us now toll-free at 1-888-355-9808 and talk with one of our debt negotiation professionals for a complimentary review of your credit report. We will keep your monthly budget in mind. We are here to answer your questions.

Your privacy is important, your personal information is kept confidential.

*These percentages are a reflection of savings at the time of settlement and illustrate the average amount saved on settled accounts only; savings vary on an individual basis and do not include any service fees. Time2Settle.com cannot guarantee that a creditor will accept a settlement offer. Time period based on individual circumstances. Results may vary. Restrictions Apply.

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