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Options For Clearing Debt Virginia

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
(757) 531-2227
710 E Little Creek RD
Norfolk, VA
Law Office Of Joseph Lindsey
(757) 623-6522
500 E. Plume Street
Norfolk, VA
Clearpoint Financial Solutions
757-548-9406
1417 Battlefield Blvd N
Chesapeake, VA
Sargent Edward J PC
757-523-9553
860 Greenbrier Cir
Chesapeake, VA
Davis Law Group
757-420-7722
516 Baylor Ct
Chesapeake, VA
Arlington Credit Card Debt Consolidation
703-574-2478
3118 Washington Blvd
Arlington, VA
Kleger Jeffrey A
703-527-1125
3444 Fairfax Dr
Arlington, VA
Ana M Cuitino's Law Office PC
703-243-4600
2300 Clarendon Blvd
Arlington, VA
Bell Harold E
(757) 622-1800
603 Town Point Ctr
Norfolk, VA
Consumer Credit Counseling
757-473-2227
522 S Independence Blvd
Virginia Beach, VA

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

Consumer Credit Counseling

(757) 531-2227
710 E Little Creek RD
Norfolk, VA
Read more about Options For Clearing Debt

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- Options For Clearing Debt Virginia Beach VA
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Related Local Event
Portsmouth Chamber Connect - November 17, 2009
Dates: 11/17/2009 - 11/17/2009
Location: Portsmouth Partnership Briefing Center
Portsmouth, VA
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