Looks like a puzzle, but actually it's true. What if you are neck deep in debts? You have to make a choice between settlement and bankruptcy. Let's approach the simplest method, take a pen and paper and on one sheet tabulate the debts you owe, make a complete list of it. And then on another sheet make a list of your expenses and income.
Now evaluate them, does your financial capability allow you to manage both expenditure and debt payment? If yes, then there is no confusion, but if expenses are more and debt payment is deferred for infinite period, you may land up in bankruptcy . There is another option, you want to settle on debts at a reduced amount either by
-doing it yourself , but that needs a lot of effort, research, analysis, power to negotiate effectively with the creditors
-else refer a settlement company to eliminate or reduce debt
The settlement advisor offers advice and consultation on lowering the debt burden from you from 25% to 65%, they charge some fee for this and help ward off the whopping amount. This however provokes me to think, the amount you are saving on debt is actually going to the debt settlement, a deferred bankruptcy.
This can however be avoided if we look for legitimate agencies, which provide free counseling to settle debts. A settlement company can be found through a relief network which falls somewhere between the above mesh and make your life lot easier on handling debt settlement.
If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt. FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link:Free Debt Advice