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Slash Your Debts Using Bad Credit Debt Consolidation Loans

If you are like many today, you fought hard to keep your finances above water, falling behind on payments and even default while you scrambled to come up with the money you need. Meanwhile, your credit score was diving as you fought to do the right thing, and now you may find that your bad credit prevents you from qualifying for some of the bankruptcy alternatives you have explored. The good news is that there are debt consolidation programs that specialize in offering

people

with

bad

credit

a

second

chance.

These

services

http://www.cashdebtloans.com/bad-credit.html offer you debt restructuring options that can dramatically reduce your monthly payments and provide instant relief...

Debt Solutions

There are traditionally five ways you can eliminate your debt.

1. Debt Management

A debt management program involves working with a professional debt consultant to help you pay down your debts and create a workable monthly budget to keep you on track for financial success. Benefits Include:



Reduced Interest

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Late Fee Forgiveness In Some Cases

Create Solid Financial Plan & Budget

2. Interest Rate Arbitration

This option is pursued by contracting a third party to negotiate on your behalf with your lenders to lower interest rates based on your financial hardship. Your contracted debt professional uses the leverage of loan consolidation to persuade your lenders to forgive a percentage of your debt. Benefits Include:

Lowered Monthly Bills

One Easy To Manage Monthly Payment

Improves Credit Score

3. Debt Settlement

Debt settlement is achieved when your creditors agree to lower your amount owed by as much as 70%. This is possible because the lenders, in most cases, will accept a smaller payoff in lieu of your outright default on your debt through bankruptcy. Benefits Include:

Reduced Interest Rates

Reduced Debt Balances

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4. Chapter 13 Bankruptcy

Filing chapter 13 bankruptcy involves the court system to create and monitor a manageable debt repayment plan. Benefits Include:

Dramatically Improves Interest Rates and Terms on Debt Owed

Principle Debt Balance Owed Reduced

Assets Protected From Seizure

Credit Score Impacted Negatively

5. Chapter 7 Bankruptcy

Filing for chapter 7 involves forfeiting your assets to a court appointed trustee for liquidation in which your creditors are paid off from the proceeds. Some assets can be protected in a Chapter 7 bankruptcy, but we recommend you speak with an attorney to address your unique situation. Benefits Include:

Your Debt Obligations Can Be Eliminated

Second Chance Fresh Start

Credit Score Impacted Dramatically - Long Term Consequences

Dealing With Court System Can Have Unexpected Results

Bad Credit Debt Consolidation

Debt consolidation loans for people with bad credit provides the ideal 3


alternative to dealing with the court system and all the involved legal fees for those looking to find relief to their debt situation. Reputable debt lenders offer bad credit programs and fight with your lenders to settle for pennies on the dollar. Your high interest obligations are rolled into a longer term lower interest loan, and in some cases, up to 70% of what you owed can be forgiven outright through settlement!

To continue reading the rest of the article and find out our recommendations, please click here: http://www.cashdebtloans.com

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Bad credit debt loans