Stop Debt 123

Information may not be reliable

Debt settlement, also known as Debt Negotiation, is one of the most viable approaches to resolving overwhelming debt.
Generally, debt settlement is both the fastest and least expensive option for a person to pursue.
At StopDebt 123, we understand the stress and struggle associated with handling an overwhelming amount of debt, and our goal is to reduce your debt so that you can get on the path to financial freedom, and live a debt free life! If you're simply paying minimum monthly payments, or are already behind, then surely it feels like you are just treading water or, getting nowhere.
Our program, through negotiation, will reduce your debt down to a fraction of what you currently owe. So, you only end up paying back a fraction of the debt to the creditor! Our program is custom-tailored for each individuals current financial situation in order to make the process as quick and affordable as possible.
Most settlement and negotiation programs work with individuals who have qualifying hardships. Qualifying hardships could include; loss of a job, drop in income, divorce, disability, personal injury, serious illness, inability to meet monthly minimums, and more. Unfortunately, these are all conditions which plague many Americans in their daily lives.
Settlements allow for the creditors to quickly recoup that money, as well as a good percentage of interest and fees, therefore oftentimes it is in their best interest, especially when a consumer has a qualifying hardship and little or no ability to pay the debt back under normal conditions.
For more information, complete our online form, or contact us via telephone or email for a free financial evaluation. There is no obligation or cost. Call Today! 1-866-987-3328

BANKRUPTCY

The last option for someone in financial trouble is Bankruptcy. Options such as Debt Settlement and Credit Counseling should be attempted first. The two types of bankruptcy for individuals are Chapter 7 and Chapter13. All bankruptcies must be handled by an attorney.
Some debts are not dischargeable through bankruptcy. Among these are taxes, student loans, child support, and criminal fines. A bankruptcy attorney will be able to help the consumer sort through what is eligible.
Chapter 7 bankruptcy absolves the consumer from any debt filed under it. Meaning that once the bankruptcy is discharged, the client no longer owes the debts listed. All unsecured debts can be discharged this way, but the debtor may lose property not exempt by law. Items such as homes and vehicles can be retained, an attorney will help inform the consumer what can be kept and what cannot. A chapter 7 bankruptcy will remain on a credit report for ten years.
Chapter 13 bankruptcy involves the reorganization of debts rather than discharge. Again, A bankruptcy attorney will be able to help the consumer to decide the best path.

DEBT MANAGEMENT

Debt Management works for clients are able to make their minimum monthly payment, but high annual percentage rates essentially negate these payments as soon as they are applied. It works well for people who are on time with payments. It works because creditors offer debt management programs to help committed clients pay off their debts. Seeking counseling demonstrates the clients commitment toward that end. Debt Management agencies also help the client meet the same due date each month.
Paying off the debt is accomplished by helping clients enroll with their creditors debt management programs. The primary benefit of these programs is a reduction in interest rates, which enable clients' minimum payments to actually lower the balance each month rather than maintain it in perpetuity. The common Debt Management program is designed to have clients pay off their debts within five to seven years.
Every participating creditor has a specific set of criteria for admission into their debt management programs. In most cases, the minimum monthly payment must be at least 2% of the balance. It is usually advisable to propose slightly more than that to reduce the possibility of rejection. There is no way around these criteria, no way to pay less than the creditors demand.
In addition, the creditor demands that this payment arrive by a specific date each month. Credit Counseling is of no help if the program repeatedly drops due to late payments.