Options For Clearing Debt Canton OH

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 Service
(330) 452-3115
2800 Market Ave N Ste 18
Canton, OH
Consumer Credit Counseling Service
(330) 452-3115
100 Central Plz S
Canton, OH
Confidential Credit Counselors Inc
(330) 723-6925
775 W Smith Rd
Medina, OH
Confidential Credit Counselors Inc
(440) 322-1999
28 Lake Ave
Elyria, OH
Consumer Credit Counseling Services of Columbiana County
(330) 426-3619
309 N Market St
East Palestine, OH
Consumer Credit Counseling Service
(330) 861-0980
2569 Romig Rd
Akron, OH
Heap-Housing Programs
(330) 424-4013
7880 Lincole Pl
Lisbon, OH
Lifespan Credit Counseling
(513) 868-3210
Hamilton Fairgrove
Hamilton, OH
Consumer Credit Counseling Services of Columbiana County
(330) 424-7991
966 N Market St
Lisbon, OH
Ammend Credit Counseling
(513) 271-1680
Madeira, OH

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

Er Credit Consulting

440-888-7991
5788 Ridge Rd
Cleveland, OH
http://www.ercredit.com

Related Local Event
2009 Community Development Policy Summit
Dates: 6/10/2009 - 6/10/2009
Location: Crowne Plaza Hotel
Cleveland, OH
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