Options For Clearing Debt Baldwin NY

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

RapidTrade International
(718) 444-8722
1495 E. 96th Street
Canarsis, NY
IBM Metro Employees Federal Credit Union
(718) 361-1002
29-21 Queens Plaza North
Long Island City, NY
Debt Solution Services, Inc
347-312-2148
1300 Ave M
Brooklyn, NY
NY Pawnbrokers Inc
(718) 292-4686
301 E 149th St
New York, NY
Vespa Bankcard
(212) 868-1313
1838 2nd Avenue
New York, NY
Garden State Consumer Credit Counseling
(516) 766-5600
265 Sunrise Hwy Ste 24
Rockville Centre, NY
1 2 3 Credit and Debt Counseling Service
(718) 454-1679
Queens Village, NY
Aaron Hamilton & Brown
(716) 862-0708
1833 Kensington Ave
Buffalo, NY
Central Credit Bureau
(518) 877-8252
313 Usher Rd
Clifton Park, NY
Mason Credit Counseling Inc
(631) 863-1100
22 Lawrence Ave
Smithtown, NY

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

RapidTrade International

(718) 444-8722
1495 E. 96th Street
Canarsis, NY

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Related Articles
- Debt Settlement Baldwin NY
Debt settlement is a popular path to take for companies with lots of debt problems, and they can do this either through Chapter 11 bankruptcy or through other means such as hiring a debt management company to help it manage debt problems better.
- Debt Management Services Baldwin NY
- Debt Management Solution Baldwin NY
- Solving Debt Problem Baldwin NY
- Debt Management Program Enrollment Baldwin NY
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