Even if you are overwhelmed by debt bankruptcy doesn't have to be your only option.

There are many choices when it comes to debt. It is important that you understand your choices, and realize the impact each choice may have.

Debt Settlement

Debt Settlement is a reasonable and sensible choice for debtors. Settlement involves negotiating with your creditors so they accept less than the full amount of the debt owed to them. Contractually at Power Solution, we can help settle your total outstanding credit balances substantially. In most cases, negotiating the total balances rather than just reducing interest payments is the best choice for regaining control of your financial condition.

Do Nothing

Bankruptcy

There was a time when bankruptcy was the only choice for people so mired hopelessly in debt. Pressure from collection agencies and others often forced debtors to succumb to bankruptcy. The stark reality and ultimate awakening is that bankruptcy can stay on your credit report for up 10 years. Your bankruptcy discharge can also appear in public court records for much longer potentially affecting future plans such as purchasing a home or vehicle.  And to make matters worse, depending on the type of bankruptcy you file, the insanity is that most courts may force you to pay your creditors, in full.  In most cases, you should only consider bankruptcy only as a last resort. Anyone considering bankruptcy should consult a bankruptcy attorney.

Debt Consolidation Loans

Debt Consolidation loans do not reduce your debt; this kind of loan simply combines all of your debt and attaches a lower interest rate. Bottom line, all you are doing is exchanging one debt for another at a lower interest rate which solves nothing for the debtor.. A risk to consider is that when applying for a debt consolidation loan you most likely will be asked to secure the loan against some form of collateral, usually a house or car. The problem is that this transfers your unsecured debt to a secured loan, which puts your personal possessions at risk if you fail to make payments. All of which leads to the same conclusion:  You have solved nothing. These loans also extend the period of time it will take to get out of debt which only serves to worsen your financial condition, not improve it.  This is not an ideal solution, and provides no solution for your financial recovery.

Credit Counseling

Many people not aware of other alternatives turn to credit counseling when they become overwhelmed and burdened by their debt. Credit counseling consolidates all of your debt and lumps it into one payment, but usually lowers the interest rate only 1-2 percent. These programs typically take 8-10 years to eliminate debt, and usually do not significantly lower your monthly payment which solves nothing.  It is imperative to take note of the fact that credit counseling programs achieve only about a 20% completion rate, on average.
Of all the Services mentioned herein, Debt Settlement provides the shortest time for resolution. Settling your debt and restarting your life with a fresh start, can begin today - right now.

Regain your financial freedom and call now 1-877-860-SETTLE (7388)
Power Solution does not provide legal, tax or investment advice. If you need legal advice, legal expertise or court filings, you must seek the advice of a licensed attorney.