Options For Clearing Debt Brewster 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

Debt Reduction Services of New York
(631) 727-4540
Riverhead, NY
Shaw Eden
(212) 687-0463
230 Park Ave
New York, NY
Greenpath Debt Solutions
(631) 863-0190
700 Veterans Hwy
Hauppauge, NY
Sze Consulting Inc
(212) 941-8883
87 Chrystie St
New York, NY
My Credit Now
(631) 509-5259
405 Broadway
Port Jefferson Station, NY
Cambridge Brighton Budget Planning Corp
(631) 650-1600
3001 Expressway Dr S
Hauppauge, NY
Credit Success Consultants Inc
(718) 596-8100
41 Schermerhorn St
Brooklyn, NY
Cushner & Garvey Llp
(914) 524-9400
155 White Plains Rd
Tarrytown, 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

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

Riverside Bank

(845) 454-5511
11 Garden Street
Poughkeepsie, NY
http://www.riversidebankhv.com

Related Local Event
BIO CEO & INVESTOR CONFERENCE
Dates: 2/1/2010 - 2/1/2010
Location: Waldorf Astoria
New York, NY
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