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Options For Clearing Debt Alabama

A guide to the benefits and disadvantages of different ways one can get out of debt. It discusses consolidation, bankruptcy, and debt relief programs.

Local Companies

Consumer Credit Counseling
(256) 208-0732
9 Rotary St
Montgomery, AL

Consumer Credit Counseling
(334) 240-6517
702 N Union Cir
Montgomery, AL

Montgomery Credit Card Debt Consolidation
(334) 239-0990
135 Catoma St
Montgomery, AL

Colbert Ball Tax Service
(334) 819-7991
4017 Norman Bridge Rd
Montgomery, AL

The Perfect Choice
(334) 356-2303
215 Winton M Blount Loop
Montgomery, AL

Weston T David LLC
(334) 265-4477
7515 Halcyon Pointe Dr
Montgomery, AL

Consumer Credit Counseling
(256) 766-0825
Florence, AL

Consumer Credit Counseling
(251) 633-5039
Mobile, AL

Gateway
(205) 251-1572
Birmingham, AL

Consumer Credit Counseling
(205) 248-6264
Tuscaloosa, AL

Consolidation

1. Benefits

Lower monthly payments
No worry of paying multiple debt collectors every month, pay only one agency
Percentage of debt charged by consolidation company
Costs for Loan
Cost for counseling or negotiation

2. Negatives

Appears on your credit like bankruptcy
Requires you to get another loan
If you own a home loan will be tied to your equity
Takes between 5 and 10 years to pay off the loan
First few years no big change in debt reduction
Does not always prevent creditors from future legal collection action

Bankruptcy

1. Benefits

Costs between $700-$3000

2. Negatives

On credit report for ten years
Finances made public record
No assets are allowed with Chapter7
Creditors can file adversarial hearing that costs $3000
Credit severely damaged

Debt Relief Program

1. Benefits

Payments can stop as soon as the program starts
Credit Repair available after a short time
Good credit repair options available

3. Negatives

Usually only credit card debt and unsecured signature loan

About the Author:

Marcus Ware is the webmaster of www.waresbusiness.com and promotor of affiliate products.
waresbus@waresbusiness.com

Article Source: thePhantomWriters Article Submission Service

Featured Local Company

Consumer Credit Counseling

(256) 208-0732
9 Rotary St
Montgomery, AL

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Related Local Event

WBCNA Business Counseling
Dates: 11/18/2009 - 11/18/2009
Location: Chamber Boardroom
Athens, AL
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