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eliminate credit card debt legally – get rid of any debt quickly

Article by Mark Philips

Comparing the speed racing skills of the average Joe with a racing driver is a total insult to the racing driver. A comparison between debt settlement and filling for bankruptcy is a similar type of comparison. Debt settlement will win every time. This can be understood by looking at the disadvantages of filing for bankruptcy to eliminate credit card debt legally.To file for bankruptcy the help of a professional attorney is a necessity. These services cannot be obtained without spending at least a minimum of thousand dollars. But debt settlement can be done without any professional guidance.Since the debt settlement process is influenced by the outlook of the lenders the use of professional advice can be avoided. Provided that the lender is interested in settling and provided that you have the basic skills in negotiation, discussions on a settlement can be started straight away.Bankruptcy options may go either way based on the decision of the court. The decision between chapter thirteen bankruptcy and chapter eleven bankruptcy would be the difference between a five year debt management program and a debt relief option.In debt settlement the whole process is between you and the lender with no external parties who are not sympathetic towards problems. Therefore if the negotiations are not going according to your wishes you can cancel the negotiations and that is the last thing your lender wants.Debt settlement also provides you with a learning opportunity to learn about managing your finances. However with bankruptcy you are only pardoned from your mistakes.The bankruptcy tag will be placed on your public record for a period of ten years, however the debt settlement option does not carry such a black mark and will help you to eliminate credit card debt legally.Therefore it is always better to select the settlement option without opting for bankruptcy when you are given the chance to select. The bankruptcy option should be your last resort.It is also a good decision to reach a debt settlement company when the conditions are favoring you, especially if you have over ,000 of unsecured debt, because it may be possible for them to eliminate a large part of it.If all your income is being swallowed up by debt get help now and do not wait until you all your wages are gone on bills, before you even see a cent. Getting out of debt does not need to be hard and you can eliminate credit card debt legally.

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