Court Debt Recovery – If you are in over your head in unsecured debt such as credit cards and even medical bills, you may want to try using a credit debt consolidation program. These programs are not loans, but they can help you get your monthly payments reduced and roll your debt into one easy monthly payment. It helps you avoid bankruptcy and can rebuild your credit within a couple of years.
A debt consolidation program helps you avoid damage that bankruptcy can do to your credit and credit score. Filing for bankruptcy may mean that your debts will be wiped out, but your credit score will be negative for years. It means that you will be not eligible for loans. Banks consider you as a kind of risk and will treat you as such for 7-10 years, which is how long a bankruptcy will stay on your credit report. Your life is in a standstill, all because you chose to file bankruptcy which is not good. This should always be a last resort. An independent court will review your case and make a decision.
With a debt consolidation program, many of your problems will be solved. Once the counselor works out a deal with each individual company, they will set up a payment plan for you. As a rule you pay a certain fee to such a company. As a rule this is certain percentage from your debt amount. It is certainly better to pay less and hire a professional advisor for a credit debt relief who will make sure you case is reviewed by an independent court system.