There are several alternatives available for people who have debt problems. Primo Debt Consulting strongly believes that Freedom Debt Relief's (FDR) DEBT REDUCTION PROGRAM is the BEST OPTION AVAILABLE for any consumer who cannot pay his or her debts. But we will provide an overview of your alternatives to let you decide:
DEBT CONSOLIDATION
Unfortunately, a Debt Consolidation Loan is one of the most common solutions people think of when they fall into financial difficulties. This is a problem because most people who obtain a debt consolidation loan find themselves in much deeper financial trouble than they were in to begin with. A debt consolidation loan will not reduce the amount you owe. You will still have to pay back 100% of the loan plus interest. The interest rate may be lower than before, but this is because debt consolidation loans are secured loans, and this is a HUGE PROBLEM. Once you sign up for a consolidation loan, you have just gone from an unsecured debt to a secured debt and have put your personal assets (e.g. your car or home) at risk. Now if you can’t pay your bills, your creditors can come and take your property away from you.
CONSUMER CREDIT COUNSELING (CCC)
The main problem with CCC organizations is that they are not working for you, they are WORKING FOR THE CREDIT CARD COMPANIES. This may seem unbelievable, but it is true. Most CCC agencies are alleged non-profit organizations that claim to be independent. But in fact, these non-profits are funded and supported by the very people you owe money to – the credit card companies! That is why CCC companies do not negotiate your debts down. They merely try to come up with a plan to make sure you keep paying your credit card bills. In addition, many large CCC companies have been the subject of major lawsuits, and the IRS has recently stopped granting non-profit status to credit counseling firms. At FDR, they receive no payments from your creditors, so their incentives are perfectly aligned with yours - saving you the most money. This allows them to (i) lower your monthly payments; (ii) put you on a shorter program; and (iii) save you the maximum amount of money.
BANKRUPTCY
Bankruptcy is a way to potentially get out of your debts. Unfortunately, it leaves a long lasting scar, and comes at a high price - financially, emotionally, and socially. It can be a long and painful process and the repercussions can last for over a decade. The financial impact is severe; a bankruptcy will stay on your credit report for 10 years. Every time you apply for credit, whether it is a home, a car, a lease, or insurance, you could be impacted. The long-term effect of higher rates can greatly outweigh the shorter-term impact of filing bankruptcy. Additionally, most people do not realize that bankruptcy can stay on their court records for up to 20 years - which means it can follow someone for the rest of his/her life. If you apply for a job, a loan, rent an apartment, or even insurance, your bankruptcy filing could be easily uncovered. What's more, with the new bankruptcy reform bill, it has become much more difficult to declare Chapter 7 bankruptcy. If you are considering bankruptcy, you should think about contacting a lawyer to discuss this option.
DO NOTHING
Sadly, this is the choice for millions of Americans who are struggling with their debts. Most of these people keep doing whatever they can to continue making minimum payments for the rest of their lives. This is a no win situation. If you keep making your minimum payments, you will be paying mostly interest and will remain in debt for as long as 20-30 years. And if you can’t keep making the payments, the creditors will start calling. If you continue to ignore their calls, you can end up with judgments and garnished wages as well as liens against your property.
DEBT REDUCTION (DEBT SETTLEMENT)
FDR's "Debt Reduction Program" is custom tailored to find the optimal solution to lower your monthly payments, help you deal with your creditors, and reduce your debts fast. Typically, they negotiate your balances down to about 50% LESS than what you owe. For example, through their debt reduction program, if you owe $30,000 to your creditors, they may be able to reduce your debts by over $15,000. Sound too good to be true? Call us to find out if you can qualify, and exactly what your savings estimate is at 888-480-7870.
Even better than simply saving money is the fact that your accounts will be settled in full....meaning you no longer have any of your original debt outstanding. If being debt free in as little as 2.5 years (or faster in some cases) for less than half ofwhat you owe -- with a monthly payment that fits your budget -- sounds good to you, give one of our debt consultants a call to discuss your specific situation.
COMPARISON CHART
The following chart compares what you could potentially pay and how long it could take you to become debt-free, depending on which option you choose. This chart represents the results for a typical client with $30,000 in debt. Actual results may vary depending on your specific situation.
DEBT CONSOLIDATION
Unfortunately, a Debt Consolidation Loan is one of the most common solutions people think of when they fall into financial difficulties. This is a problem because most people who obtain a debt consolidation loan find themselves in much deeper financial trouble than they were in to begin with. A debt consolidation loan will not reduce the amount you owe. You will still have to pay back 100% of the loan plus interest. The interest rate may be lower than before, but this is because debt consolidation loans are secured loans, and this is a HUGE PROBLEM. Once you sign up for a consolidation loan, you have just gone from an unsecured debt to a secured debt and have put your personal assets (e.g. your car or home) at risk. Now if you can’t pay your bills, your creditors can come and take your property away from you.
CONSUMER CREDIT COUNSELING (CCC)
The main problem with CCC organizations is that they are not working for you, they are WORKING FOR THE CREDIT CARD COMPANIES. This may seem unbelievable, but it is true. Most CCC agencies are alleged non-profit organizations that claim to be independent. But in fact, these non-profits are funded and supported by the very people you owe money to – the credit card companies! That is why CCC companies do not negotiate your debts down. They merely try to come up with a plan to make sure you keep paying your credit card bills. In addition, many large CCC companies have been the subject of major lawsuits, and the IRS has recently stopped granting non-profit status to credit counseling firms. At FDR, they receive no payments from your creditors, so their incentives are perfectly aligned with yours - saving you the most money. This allows them to (i) lower your monthly payments; (ii) put you on a shorter program; and (iii) save you the maximum amount of money.
BANKRUPTCY
Bankruptcy is a way to potentially get out of your debts. Unfortunately, it leaves a long lasting scar, and comes at a high price - financially, emotionally, and socially. It can be a long and painful process and the repercussions can last for over a decade. The financial impact is severe; a bankruptcy will stay on your credit report for 10 years. Every time you apply for credit, whether it is a home, a car, a lease, or insurance, you could be impacted. The long-term effect of higher rates can greatly outweigh the shorter-term impact of filing bankruptcy. Additionally, most people do not realize that bankruptcy can stay on their court records for up to 20 years - which means it can follow someone for the rest of his/her life. If you apply for a job, a loan, rent an apartment, or even insurance, your bankruptcy filing could be easily uncovered. What's more, with the new bankruptcy reform bill, it has become much more difficult to declare Chapter 7 bankruptcy. If you are considering bankruptcy, you should think about contacting a lawyer to discuss this option.
DO NOTHING
Sadly, this is the choice for millions of Americans who are struggling with their debts. Most of these people keep doing whatever they can to continue making minimum payments for the rest of their lives. This is a no win situation. If you keep making your minimum payments, you will be paying mostly interest and will remain in debt for as long as 20-30 years. And if you can’t keep making the payments, the creditors will start calling. If you continue to ignore their calls, you can end up with judgments and garnished wages as well as liens against your property.
DEBT REDUCTION (DEBT SETTLEMENT)
FDR's "Debt Reduction Program" is custom tailored to find the optimal solution to lower your monthly payments, help you deal with your creditors, and reduce your debts fast. Typically, they negotiate your balances down to about 50% LESS than what you owe. For example, through their debt reduction program, if you owe $30,000 to your creditors, they may be able to reduce your debts by over $15,000. Sound too good to be true? Call us to find out if you can qualify, and exactly what your savings estimate is at 888-480-7870.
Even better than simply saving money is the fact that your accounts will be settled in full....meaning you no longer have any of your original debt outstanding. If being debt free in as little as 2.5 years (or faster in some cases) for less than half ofwhat you owe -- with a monthly payment that fits your budget -- sounds good to you, give one of our debt consultants a call to discuss your specific situation.
COMPARISON CHART
The following chart compares what you could potentially pay and how long it could take you to become debt-free, depending on which option you choose. This chart represents the results for a typical client with $30,000 in debt. Actual results may vary depending on your specific situation.
If you would like to receive a free confidential debt consultation, please do not hesitate to call and one of our experienced debt consultants would be happy to assist you. (888) 480-7870 or visit our website to fill out an application today!
