Payment Help

There are four major options in dealing with your debt

1. Pay off your debts

Sometimes painful but always rewarding at the end.  Click here to find out how many of us at did it.

2. Consolidate your debts

Debt consolidation helps you to get one big loan to pay off your several other late and defaulting debts. This way you become current with all your loans, have one payment to deal with and often a lower interest rate. Debt consolidation allows you to manage your debt. Your various debts will be paid in full and your credit will not suffer anymore.
Contact debt settlement companies for help.

3. Settle your debts

Debt settlement lowers your total debt amount and allows you to pay off your debt at a lower principal than what you owed. Usually, only unsecured debt, such as credit cards and medical bills, is eligible for settlement. This can be done with the assistance of a debt settlement company or individual may try to do this own their own although it is often hard.  Debt settlement also allows you to have one payment since the one company has settled all of your debts and you are paying them.

4. File for bankruptcy

This should be your last option as bankruptcy stays on your credit for 7 years. There is also cost involved filing bankruptcy. For example in Illinois it costs $306 to file for bankruptcy under chapter 7 and $281 to file for bankruptcy under chapter 13, whether for one person or a married couple. The court may allow you to pay this filing fee in installments if you cannot pay all at once.