(PRWEB) March 6, 2005
Due to the present economic situation in the last five years, people have been struggling just to survive. Many of us have been displaced from work and are now in jobs that pay barely enough to sustain a decent living. Furthermore, as the prices of goods rise many find themselves shuffling between jobs; but even that does not seem to be enough. As a consequence people find it hard to cope with daily needs, as well as, their obligations to their creditors. Many time people just want to give up and do not know where to turn. Truly, there are several alternatives you can consider to eliminate your debts without bankruptcy. Debt Free Settlement, owners of http://www.debtfreesettlement.com, is gaining attention nationwide for providing information and alternative solutions to the consumers how to eliminate your debts without bankruptcy.
There are several programs to choose from to consolidate or eliminate your debts without bankruptcy. Debt consolidators can provide debt help in the form of debt settlement, a debt consolidation loan or a structured settlement. You can eliminate your debt through a debt settlement program, it can reduce your debt by approximately 35% to 65% (on average); by means of working out an amicable negotiate an agreed-to pay back to your creditors. You can eliminate your debt through a consumer credit counselor service is similar to the debt settlement program. They generally work on reducing the overall interest rate of your debt and thus may reduce your current monthly payments. Depending on the amount of your debt, it may take even as long as 5 to 7 years to complete.
You can eliminate your debt without bankruptcy using a debt consolidation loan. These programs generally apply to individuals with collateral, such as a house. The equity of the house can be used to pay off other debt, such as credit card & bill. Those who are facing a foreclosure can find comfort in the fact that they can refinance their home, and stop the bank from repossessing it, so long as a loan for at least 70% of the houseÂs value is enough to pay off their current loan and take out a new one, even with bad credit.
You can eliminate all or part of your student loan debt without bankruptcy. Students who have taken a student loan can significantly lower their monthly payment by lengthening the term of your loan, with no prepayment penalties! There is no penalty for prepaying your student loan consolidation or student loan debt consolidation at any time. In fact, every penny you pay over the amount owed each month is automatically applied towards the principal, NOT interest.
Another specialized service to eliminate your debt without bankruptcy is a company that works with individuals that were involved in an accident. After legal proceedings people are awarded a legal payment stream called a structured settlement. This annuity payment stream can be converted to ÂLump Sum Cash Â paid to the original payee by selling the policy to a third party. All the complexities of the transaction such as benefits and legal restrictions will be disclosed to the original payee.
Debt Free Settlement is a One-Stop financial resource for people who need debt help, and save them from a lot of frustration, time and money. With years of experience in the business, they know what it takes to provide valuable service. The company headquarters is located in McAllen, TX. Visit their Web site at http://www.debtfreesettlement.com.