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Options For Clearing Debt Connecticut

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

Connex Credit Union
203 603-5792
849 Boston Post Road
Guilford, CT
Guilford Savings Bank
203 453-2721
P.O. 369/1 Park Street
Guilford, CT
NewAlliance Bank
203 453-7529
1021 Boston Post Road
Guilford, CT
Webster Bank
203-458-5320
1069 Boston Post Road
Guilford, CT
Rigoglioso ESQ Joseph P
(203) 922-8100
375 Coram Ave
Shelton, CT
Credit Management Corp
(860) 399-5531
1551 Boston Post Rd
Westbrook, CT
Money Management International
(860) 293-1336
Hartford, CT
Debt Consolidation
(203) 331-8686
Bridgeport, CT
Consumer Credit Counseling
(203) 394-6006
Bridgeport, CT
Northeastern Credit Services Inc
(860) 684-1404
180 Stafford St
Stafford Springs, CT

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

Connex Credit Union

203 603-5792
849 Boston Post Road
Guilford, CT
http://www.connexcu.org
Read more about Options For Clearing Debt

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