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Options For Clearing Debt Kentucky

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

Yewell Terry
859-276-0016
263 Malibu Drive
Lexington, KY

GoDebtRelief.com
859-402-2402
132 Southland Dr
Lexington, KY

Clark Law Office, Inc
859-219-1280
851 Corporate Dr #310
Lexington, KY

Smith Patrick T Atty
859-666-3328
2240 Executive Drive Suite 104
Lexington, KY

Lexington Credit Card Debt Consolidation
859- 317-2008
838 E High St
Lexington, KY

Kincheloe Laura PLLC
859-243-0078
167 W Main Street Ste 1300
Lexington, KY

Boyd & Boyd PLLC
859-252-0222
3131 Custer Drive Ste 5
Lexington, KY

Consumer Credit Counseling
859-623-0996
200 E Main St
Lexington, KY

Gary C Johnson
859-268-4300
316 West High Street
Lexington, KY

AAA Credit Counseling Corp
859-233-0002
151 N Martin Luther King Blvd
Lexington, KY

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

Yewell Terry

859-276-0016
263 Malibu Drive
Lexington, KY

Read more about Options For Clearing Debt

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Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
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Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History