Options For Clearing Debt Golden CO

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

Bellco Credit Union
(303) 689-7545
12318 W. 64th Ave., Suite A-5
Arvada, CO
Key Bank
(303) 329-5393
333 South Allison Parkway
Lakewood, CO
Washington Mutual
(303) 650-0450
5215 West 80th Avenue
Arvada, CO
First National Bank
(720) 566-3306
8531 Church Ranch Blvd.
Westminster, CO
FirsTier Bank
(303) 625-2357
7180 W. 103rd Avenue
Westminster, CO
Wells Fargo Bank - Standley Lake
(303) 438-4020
10001 Wadsworth Pkwy.
Westminster, CO
Bank of The West
(303) 202-5545
9150 N. Sheridan Blvd.
Westminster, CO
Bellco Credit Union
(303) 689-8130
8851 Harlan St.
Westminster, CO
Community Financial Credit Union
(303) 469-5366
6855 W. 119th Avenue
Broomfield, CO
Vectra Bank -Westminster Branch
(720) 947-8309
3300 W. 72nd Ave
Westminster, CO

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

Bellco Credit Union

(303) 689-7545
12318 W. 64th Ave., Suite A-5
Arvada, CO


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 World History