|  OPTIONS
DEBT
SETTLEMENT
Debt
settlement is a legal process to negotiate an agreed settlement on a reduced balance. Our
debt relief option is an effective approach to pay off your current debt as well
as avoiding the negative effects of a personal bankruptcy. The
Attorney Network works diligently on your behalf to reduce your current unsecured
debt balances down to zero.
DEBT
CONSOLIDATION - Need
to qualify first.
- Requires
ownership of Real Estate, property or a pledge of collateral.
- Home
equity loan may reduce the future equity available in your property.
- Eliminates
your credit card balances.
- Payback
can be up to 20 years depending on debt balances and ability to pay back the loan.
- You will pay
back the full amount of debt.
- Your
unsecured debts become secured debts.
CREDIT
COUNSELING - These
companies are generally funded by the credit card companies themselves.
- They
will consolidate your bills into one monthly payment and lower interest rates.
- Your balance
will often take up to 7 years to pay down depending on the amount of debt you
have.
- Paying
over 25% of principal balance in interest fees over the first three years.
- You
end up paying back your full balance plus interest in addition to the monthly
“donation”.
- Negative
marks may remain on your credit report for up to 7 years.
- May
be viewed by lending institutions as Chapter 13 Bankruptcy.
- The
average completion rate of consumer credit counseling is approximately 26%
BANKRUPTCY
CHAPTER 7 or 13 - Both
represent a severe negative impact on your credit rating for 7-10 years.
- Fees
may cost up to $2,500 to file.
- May
have a negative impact on your employment status or future employment.
- In
a Chapter 13, you may end up paying 75 – 100% of your debts back.
- In
a Chapter 7, will eliminate all of your unsecured debt.
- May
result in higher interest rates on future loans.
- Truly
a “last resort”. If possible, bankruptcy should be avoided.
- Chapter
13 completion rates average 32%.
MINIMUM
PAYMENTS
Below
is a chart to show you the number of years it may take you to pay off a credit
card balance based on 19% interest and paying the minimum monthly of the outstanding
balance. *Usually
credit cards require a minimum monthly payment between 2.0% and 2.5% of the outstanding
balance. 
CALCULATE
YOUR OPTIONS
Visit
back soon to us our custom calculator! DISCUSS
YOUR OPTIONS Call
to speak with us Today! 877-288-9638 Find
out how many months it can take you to become debt free | 
