Opt For Debt Relief Or Credit Card Consolidation To Avoid Bankruptcy September 29, 2007
Posted by Vedis in : Credit Cards, Loans , trackbackI was at ClearDebtSolution.com a few months ago and tried to answer some questions posted there. You may test yourself to see if you are in serious financial troubles.
1. Are your monthly expenses exceeding your earned income?
2. Are you using your credit cards to get by so you can afford to live?
3. Are you considering Bankruptcy as an option?
4. Are your credit cards reaching the limit?
5. Are you receiving collection letters or phone calls from creditors?
6. Have you used all of your available resources to keep up with payments?
7. Are your minimum payments becoming a struggle?
8. Has a recent event caused you to go into default?
All my answers were ‘Yes’ at that time. If your answers are mostly- “Yes” – then, you are like me …;D loaded with credit credit debts or loans.
We used to think that we may have to opt for bankruptcy. Fortunately, after doing much research and getting the help of Debt Relief program online, we found that there are options that we could consider to avoid bankruptcy.
So far, we have tried balance transfers and personal loans to help lower monthly payments. We manage to pay off some of our credit card debts. Credit Card Consolidation will only be our last resort should we fail to keep up with our payments again.
For your information, credit card consolidation can reduce total debt between 40 and 60%, and will help you become debt free in less than 36 months.
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