Why Debt Settlement is a Better Option Than Bankruptcy - Legally Eliminate Debt

You might find many articles and discussion threads claiming that settlement process is lot better than filing for bankruptcy. But, are these claims worth enough to believe? Yes, it is true and has been proved many a times. You can find lot of lively examples of people still struggling with debts even after bankruptcy.

When you think to legally eliminate debt, you should not hurry. Rather be patient and analyse each and every method that you can come across. Here are some contrasting facts that can brief out the difference and prove the above statement.

When you undergo bankruptcy, it is not mandatory that you will get relieved off all your credits. There are many unsecured debts that cannot be considered a part of bankruptcy. Even after you file for bankruptcy, there are still some debts that you have to payback separately. On the contrary, in debt settlement, you can virtually eliminate all debts you have. Any form of debt can be wiped out by settlement process.

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Settlement process is considered lot safer than bankruptcy since there are settlement companies serving the role of interface between the customer and credit providers. These companies bolster the customers and propose the case that would go in favour of the consumer. However, in bankruptcy, there are risks of losing personal assets.



The credit scores suffer badly in case of bankruptcy process since they earn really big negative points. While in settlement process, the scores remain unmoved and offer a big benefit to the customer. Imagine, you getting out of debt with healthy credit scores. What else can be better!

There is a constraint in bankruptcy process that most of the people tend to overlook. One who adopts this process is not eligible to take this service again for the next 5-6 years. This closes many more options for the customer inviting further problems. Whereas in case of settlements, there is no such limitation. You can undergo such process multiple times since they are not recorded.

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Any experienced and expert financial expert would advice to go with settlement process when you want to legally eliminate debt.

Finding legitimate debt settlement companies is not that difficult but consumers must know where to look. It would be wise to utilize a debt relief network that will qualify the companies for you and ensure that they are legitimate and have proven themselves. To locate the top performing debt settlement companies in your state check out the following link: [http://www.freedebtsettlementadvice.com]Debt Relief Help

Article Source: [http://EzineArticles.com/?Why-Debt-Settlement-is-a-Better-Option-Than-Bankruptcy---Legally-Eliminate-Debt-&id=3878719] Why Debt Settlement is a Better Option Than Bankruptcy - Legally Eliminate Debt