I wanted to know how to avoid chapter 13 bankruptcy in Texas because I did not like the possibility of suffering bad credit for as long as ten years. Initially, I liked chapter 13 because it would let me keep my house. I have been fortunate enough to keep my job and even keep up on house payments. However, I was not able to avoid getting deep into debt while trying to survive this economic crisis.
Debt Options
I looked at a lot of options to help me get out of debt. It seemed to me that many other people were declaring bankruptcy. There are various types of bankruptcy, even those kinds that let you keep most or all of your possessions. That is what happens with chapter 13 bankruptcy.
There are solutions to debt that avoid bankruptcy entirely. Debt consolidation loans offer borrowers the chance to combine all of their debts into a single obligation. Other debt advisement agencies help people to lower their rates or diminish the total amount owed. These methods were interesting but I really wanted to find a way to eliminate my debt entirely and in a short period of time. I was also eager to avoid damaging my credit record for so many years.
Debt Settlement
Then I discovered how to avoid chapter 13 bankruptcy in Texas and repair my credit rating as soon as possible. We can help to lower your monthly payments, reduce your debt and restore your credit score in four years or less. They do all this without putting you further into debt or risking the loss of your possessions.
How to Avoid Chapter 13 Bankruptcy in Texas with Debt Settlement
If you are interested in debt settlement opportunities, do what I did and begin by contacting us. You should be ready to share information about all of your debts. Not all of them will necessarily qualify for settlement but your debt adviser will let you know which ones are good candidates for settlement.
If you agree to the conditions and your debt consolidator accepts your debts into a settlement plan, then you can enjoy the benefits of debt settlement immediately. The first thing that you do is call us and start making your payments into your settlement fund. This payment should amount to less than the total payments that you were regularly making to your creditors.
The fun begins after that. You can stop paying your creditors. In fact, you should not even communicate with them. During the months and years that follow, your creditors may get very aggressive about trying to communicate with you. However, you should pass on all these communications to your debt consolidator, who will now represent you in these matters.
A small part of each monthly payment will serve as the fee for this service. The rest will begin to accumulate in an account. Your debt consolidator will use this growing fund to negotiate with your creditors. Usually, they approach the creditor to whom you owe the smallest amount first. Your debt consolidator will offer them a sum that is less than what you owe but is still a considerable amount of money. As each creditor accepts, they close your account. Your debt is essentially forgotten at that point. This also stops appearing as a negative mark on your credit record.
Most people can get all of the qualified debts erased in two to four years. During that time, your credit rating will suffer. In comparison to bankruptcy, however, this disadvantage is minimal. When the last of the debts are eliminated, your credit rating will reset. This may only take four years or less.
Which Debts Qualify for This Type of Settlement?
You can only include unsecured debts in this settlement plan. Secured debts are unsuited to this procedure because the creditors may have the right to seize your property in order to satisfy your debt. As an example, consider how the bank will take your home if you do not make payments. This method of debt settlement, however, is very successful with most credit cards and with medical bills.
Do not hesitate to contact us if these terms seem good to you. You can be debt-free in much less time than a bankruptcy will allow. Act now to begin your first day of freedom from debt.