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
Consumer Credit Counseling
(330) 376-9351
Akron, OH
Credit Counseling Centers of America Inc
(330) 773-4111
Akron, OH
Creekside Title Agency
(614) 428-7477
153 Mill St
Gahanna, OH
Cincinnati Credit Counseling Service Corp
(513) 621-1737
8228 Winton Rd
Cincinnati, OH
Ammend Credit Counseling
(513) 271-1680
Madeira, OH
Trinity Credit Counseling Inc
(513) 769-0621
11229 Reading Rd
Cincinnati, OH
Lifespan Counseling & Credit Counseling
(513) 424-6888
2 N Main St
Middletown, OH
Ctgy
(614) 761-0187
5165 Emerald Pkwy
Dublin, OH

Options For Clearing Debt

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 Events
2009 Community Development Policy Summit
Dates: 6/10/2009 - 6/10/2009
Location: Crowne Plaza Hotel
Cleveland, OH
View Details

Panel Discussion
Dates: 5/19/2009 - 5/19/2009
Location: The Genesis Bldg (Amphitheater-Lower Level)
Seven Hills, OH
View Details
Rate Article
     
Articles Insider

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets