Freedom Debt Care, Debt Relief Options, Debt Elimination, Credit Card Debt Help, Unsecured Debt

Your Debt Elimination Options

When you're drowning in credit card debt or other unsecured debts, there are really only five debt elimination methods to choose from. Let's review each debt solution in detail so you have a better understanding of the options available to you:

• Ignore your debt problems & hope they get better
• Debt Consolidation
• Credit Counseling or Debt Management
• Bankruptcy
• Debt Settlement

Option 1 - Ignore your debt problems & hope they get better

The consequences of ignoring your creditors could completely surprise you. This is not usually a recommended strategy, but it’s one many people follow—at least for a while. It also may be your only option for nonessential debts that you can’t pay. If you ignore your creditors long enough, they will probably take legal action to try and get either the money you owe or the secured property you pledged to guarantee repayment. You may lose some property, including your bank accounts, your car, a portion of your wages—and possibly your house.

Wait long enough and your creditors may put a lien on your home or personal property. A lien is a notice attached to your property telling the world that a creditor claims you owe it some money. Liens on real property are a common way for creditors to collect what they are owed. Liens on personal property, such as motor vehicles, are less frequently used but can be an effective way for someone to collect. To sell or refinance property, you must have clear title. A lien on your house, mobile home, car, or other property makes your title unclear. To clear up the title, you must pay off the lien. Thus, creditors know that putting a lien on property is a cheap and almost guaranteed way of collecting what they are owed—sooner or later.

Jailing someone for not paying a debt is prohibited in most instances. In a few situations, however, you could land behind bars if:

• You fail to show up for a debtor’s examination. A debtor’s examination is a procedure where a judgment creditor, with court approval, orders you to come to court and answer questions about your property and finances.

• You live in a state that allows imprisonment for certain types of debts. Even so, the state law may allow debtors to avoid imprisonment if they can show that they really don’t have the money or other assets to pay the debt.

Option 2 - Debt Consolidation

Debt consolidation companies can be helpful if you choose the right company. A few companies will actually invest their funds to bring past due payments up to date. To preserve or enhance your credit, choose a company that invests its own money to help you get back on track.

When you contract with a debt consolidation company, the company can rapidly bring your accounts current by combining your payments and using its own funds. The term of the contract is determined at the outset, giving you a target date to be completely debt free and giving you the ability to set up a convenient, level payment program that will remain fixed until the end of your contract. There's only one major problem concerning debt consolidation; most companies, if not all debt consolidation companies require colleteral, such as your home or other valuable property. However, If your percentages aren't up to par, you may want to consider a debt consolidation plan, a program that incorporates all your current debts, into one loan. All your debt is rolled into one lump sum, and you need to make only one payment. Then again, you get the same service and low monthly payment with Freedom Debt Care, only we Do Not Require collateral. After all, it doesn't make sense to convert what was once unsecured debt into secured debt. Before you risk your home and essentials to a debt consolidation company, consider Freedom Debt Care. Our debt settlement program is a safe, proven alternative to debt consolidation and bankruptcy.

As far as debt consolidation loans go, you’re almost certainly better off steering clear. There’s a lot of consumer abuse, if not outright fraud, in this area. High, hidden fees are common, as are loans that just stretch out your obligation.

For a free no obligation consultation on how Freedom Debt Care can get you back on track with minimal damage to your credit, call and speak with one of our representatives or inquire online today!



Option 3: Credit Counseling or Debt Management Plans

The combination of high consumer debt and easy access to information (the Internet) has led to an explosion in the number of credit and debt counseling agencies ready to offer you help. Some provide limited services, such as budgeting and debt repayment, while others offer a range of services, from debt counseling to financial planning and education. Shop carefully. Some of these agencies were established primarily to sell you products and services and don’t provide good-quality counseling.

Critics of credit and debt counseling agencies point out that they get most of their funding from creditors. Consumer Credit (the majority are) reached an agreement with the Federal Trade Commission to disclose the following to consumers:

• that creditors fund a large portion of the cost of their operations

• that the agency must balance the ability of the debtor to make payments with the requirements of the creditors that fund the office

• a reliable estimate of how long it will take a debtor to repay his or her debts under a debt management program.

Many unscrupulous credit and debt counseling companies have nonprofit status. These companies often try get you to pay “voluntary contributions” up front or pay other fees. At a minimum, always ask about fees and get a quote in writing before agreeing to give your business to a particular counselor.



Option 4: Bankruptcy

American Bankruptcy Institute reports that bankruptcies in the United States have risen steadily over the last 20 years. It also estimates that more than 97 percent of bankruptcies are filed by individuals rather than businesses. The connection between the ease with which credit can be obtained these days and the escalating bankruptcy rate is obvious. Therefore, the blame must be shared by both the credit card companies and the consumers. The goal of Freedom Debt Care is to detail the bankruptcy laws in a clear and concise fashion, allowing the average person to understand how the system works and how it can be used to your advantage or cause severe damage. It is also intended to help people survive bankruptcy and establish a secure financial future. Solutions to long-term, sizeable problems usually come about through education and increased awareness. Hopefully, this article has provided you with both.

Many feel a Bankruptcy is a stigma on their character. A Bankruptcy stays on your credit history for up to 10 years. A Bankruptcy on your credit history could have a damaging impact on future employment, rental or credit applications.

Chapter 13 Bankruptcy is when someone files for bankruptcy under Chapter 13 of the Bankruptcy Code, their aim is to have the opportunity to repay some or all the debts in their name, in better terms, i.e. lower or no interest.

Unlike Chapter 7 which involves liquidation of assets, this process allows the debtor to use whatever income they may have in the future to pay off the creditors. Needless to say, filing Chapter 13 Bankruptcy is applicable for a debtor who does have a regular income, and thus can afford to request for such adjustments, or reductions.

The United States Bankruptcy Code gives the debtor a ceiling of 5 years, within which the creditors must be paid back. The entire process is carried out under the supervision of the courts. In the long run, bankruptcy could cost you more in lost opportunities and should generally be your last resort.

Avoid Bankruptcy today by filling out your No Obligationdebt settlement quote today, and our experienced staff will guide you to a rational decision that works for you and your family!

Option 5: Debt Settlement with Freedom Debt Care

FDC Cares, Our Debt Counselors Work for You, If you are unable to settle your own debts through a consolidation loan or negotiations with your creditors, there are a number of organizations and individuals that you can go to for help, however by choosing Freedom Debt Care your surpassing the middle men and dealing with real attorneys who manage your account and deal directly with your creditors.

The best time for Freedom Debt Care to contact your creditors and talk about settlements or payment plans is before you fall too far behind and have been turned over to collection. Unfortunately, most people do not follow that timeline. They keep thinking that things will get better and that they will be able to catch up on the delinquent bills. Once your accounts have been turned over to collection, your creditors may refuse to talk to you directly thats where our debt negotiation attorneys step in. At this point, you may be thinking that bankruptcy is the only option you have left, but you still have another choice.

Freedom Debt Cares Professional debt counselors can serve as a buffer between you and your creditors. They can often strike deals and reach settlements with creditors that you could not accomplish on your own. The main reason a debt counselor can accomplish more than you can on your own is because the very fact that you have gone to a counselor for help demonstrates to the creditor your willingness to work out a debt repayment plan. Freedom Debt Care offers confidential information and guidance. Once you’ve met with a counselor, you will be advised of the fees charged for the service. These fees are usually nominal because many services are partially funded by contributions.

To see if you qualify for FDC Financial's Debt Settlement program, please take a moment to fill out our online inquiry form, or pick up the phone and call one of our professional representatives toll-free at 1(888) 577-5623. During your FREE, no-obligation consultation, we'll analyze your situation and help you determine the best approach for your circumstances. We're here to help!