For many years, all a person had to do to make their lives more comfortable, in terms of dealing with their debt, was to simply send a cease a desist letter to their creditors. The thing is though, there are more and more lawsuits from creditors coming forth because of such letters. After all, a lawsuit is now the only way to get the attention of people with such letters sent.
What is a cease and desist letter? Do cease and desist letters work anymore?
Simply put, this type of letter stops the creditor from calling you at home, work or calling your family and neighbors. Yes, in a sense, the letters work if your main goal is to avoid phone calls. However, if your goal is to reduce your debt and stay out of court, then no, the cease and desist letters do not really benefit you.
You might have found yourself thinking that bankruptcy might work for you. After all, if you file bankruptcy, you not only will reduce the amount of phone calls you will receive, but you will protect yourself from a lawsuit. This is all very true, but the negative impact bankruptcy will have on your life is simply not worth it.
When you file bankruptcy, you will have damaged your credit for the next ten years. There are employers that may throw your application in the trash simply because you have a bankruptcy on record. More and more employers are seeing the filing of a personal bankruptcy as a sign of instability and financial irresponsibility. Your job options will be limited for the next ten years for filing a bankruptcy of any kind. Therefore, this is something that you want to avoid doing at all costs.
A Better Way To Get Credit Card Debt Relief
So what is left? What can you do to get those credit cards, personal loans and medical bills under control? Whether you have $5,000 or $50,000 in debt, you can get help. You can get the amount of money you owe reduced by a significant amount. Of course, you are not going to be able to do this alone.
To get started, you need to gather all of your bills from the unsecured debt you have. Unsecured debts include business debts, collections, medical bills, repossessions, lines of credit, credit cards and personal loans such as cash advance or payday loans. Make sure that you have accurate information for all of your unsecured debt. The more organized you are from the start, the easier it will be to get your debts reduced.
With all of this information on hand, you are going to consult with a recommended debt consolidation company. By making use of their debt settlement programs, you are going to be able to see a savings of up to 50 percent or more on your bills. The best thing is that this settlement program is not going to cost you anything upfront. This means that you will not have to pay out anything until you see that you are actually getting the results you need and deserve.
The entire length of the program will range anywhere from 24 to 48 months. Even though this may seem like a long time, it is nothing compared to the amount of time that you would spend trying to pay off all of your unsecured debt on your own.
Many people find themselves worried about whether or not the debt settlement program will affect their credit score in a negative way. To be honest, it will affect your credit score slightly, but only for a little bit. In time, you will be able to rebuild your credit thanks to having a better debt to income ratio. If you were to file bankruptcy or simply spend the next 20 years paying the bare minimum, your credit would suffer a lot more.
Achieve Financial Responsibility
When you take advantage of a debt settlement program, you will prove to yourself, along with creditors, that you take your financial responsibility seriously and that you are doing all that you can in order to make things right.
Of course, once you are done with the debt settlement program, you are going to find yourself with a lot of extra money each month. You are going to want to make sure that you are doing something beneficial with that money. The last thing you would want to do is to buy more things or open up more lines of credit. The credit offers will roll in, but you have to do your best to ignore them. This way, you will never have to find yourself asking, “Do cease and desist letters work?”, while you dodge collection agency calls.
So, before you do anything else today, you are going to want to your free debt consultation now. The sooner you get started, the better you will feel and the faster you will get out of debt.