Let me be as clear and concise as feasible. Regardless of how you look at it, both a credit card settlement and a bankruptcy will negatively impact your credit report. It is unrealistic to believe that your credit score will remain intact if you fail to repay your debt in full. In recent television commercials, debt settlement has been portrayed as the responsible and intelligent course of action, which is the primary distinction. This is false!
There is nothing intelligent or responsible about employing these firms. If you are facing dire circumstances and your finances are in shambles, you should seek the protection of the law and file for bankruptcy. Thus, you are entirely protected from all creditors' lawsuits, wage garnishments, and other legal actions. Your debts will be eliminated, and you will be given a clear slate and a new beginning.
A debt settlement program may appear to be more responsible on the surface, but this is not the case. These types of programs will not provide you with any protection if you are sued by your creditors and no laws protect you. They never inform you that if, after attempting to resolve on your behalf, the creditor refuses, you are still obligated to repay the debt in full.
If you are scarcely making ends meet, you should seek the assistance of a bankruptcy attorney. The majority of firms offer complimentary consultations where you can learn more about bankruptcy and make an informed decision.""
" - https://www.affordablecebu.com/