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Debt Settlement Vs Bankruptcy In Richmond VA

If you are over your head in debt, you may be considering debt settlment or fiing for bankruptcy. This article will discuss the pros and cons of both.

The filing of bankrutpcy appears on your credit history for up to ten years after the discharge date and could negatively affect future applications for such things as employment, housing, and credit.

Because of its long-term negative impact, bankruptcy should be used only as a last resort!

Settling for debt is the best option for quickly and cost effectively eliminate all your credit card and unsecured debts, without filing for bankruptcy, debt consolidation or joining any credit counseling programs.

Our firm negotiates with creditors on your behalf to settle your debts – typically for up to 75% less than what you currently owe! This process saves you money not only on your debt principal, but also saves you money on burdensome interest payments!

Instantly stop creditor calls dead in their tracks, upon approval and joining to our Debt Settlement Program. You don’t have to worry much about Collectors calling you with our program. You don’t have to be afraid to pick up the phone again. It also helps you regain financial control now and be debt-free – typically within less than 24-36 months.

We work with any type of Unsecured Debts like:

-Credit Cards

-Unsecured Personal Loans

-Signature Loans

-Department Store Cards

-Collection Agencies

-Unsecured Business debts

This is how our Debt Settlement program Works:

1: Debt & Bankruptcy Network offers a free consultation to assess your financial situation and to determine whether or not you are a candidate for our Debt Settlement Program. Your first step towards eliminating debt through Debt Settlement begins with a financial assessment. One of our Debt Specialists will evaluate such things as your income, debt, and living expenses, and will determine whether your situation could be best served through Debt Settlement. To get this consultation, you may call us directly or complete our Quick Application. To ensure privacy, information provided online is transmitted through a secure server. ALL information is regarded as strictly confidential.

2: If a Debt Settlement Plan is determined to be appropriate for your situation, our Debt Specialists immediately begins working on your case to customize a Debt Settlement Plan customized to your specific circumstances. We also immediately notify your creditors that you are now being represented by Debt & Bankruptcy Solutions. While you participate in the Debt Settlement Plan, we act as your legal liaison with creditors; we not only negotiate on your behalf, but also protect your consumer rights.

3: If any of your creditors are aggressively collecting, correspondence will be sent to them requesting that they cease all communications with you. Any calls from your creditors should be directed to our Client Relations department and logged in your Creditor Call Log. This special log allows us to track any federal debt collection violations and could be useful in the settlement process.

4: Your assigned Debt Specialist will establish a monthly savings goal, so that you begin saving money in your savings account to eventually pay towards settling your debt. Our goal is to get you out of debt in less than 24-36 months. We work with you to decide what would be an acceptable amount to settle each debt. Once we have negotiated a settlement amount, you will receive a written Settlement Offer from the creditor for your approval. You can see an example of the bankruptcy debt settlement offer here

5: Once your savings account has enough money reserved to settle an account, we will send you a form to finalize the negotiating process that’s been going on since you became our client.

6: Our goal is to get you the best settlement possible. Once you are satisfied and have approved the settlement amount that our Debt Specialist has negotiated from your creditor, you will then disburse funds directly to the creditor. This process will be repeated with each of your debts, until ALL of your debts that you have asked as to negotiate have been eliminated!

7: Once you’re approved for our Debt Settlement program, you’ll have access to the staff that is directly working on your settlement case. Your assigned Debt Specialist will keep you informed about your case on a regular basis. Should you have questions during any part of the Debt Settlement process? Simply pick up the phone and call our Debt Specialist directly anytime.