Best Debt Settlement - The Easiest Ways to Get You Out of Debt!

There are many ways that I could suggest that you use to get yourself out of debt, but there are only a few that actually work and help people achieve a debt free life. You could consolidate everything into one payment by refinancing your mortgage, but that leads to disaster when you run the bills up once again. You could also try to do this yourself, but that will be very difficult and more will fail than will succeed. Here are the best debt settlement options that actually work for those that follow the plans.

1. Bankruptcy

This is not one of my favorites and it is mainly geared towards those that are very desperate. If you have tried everything else and you have more than twice your annual income in debt, then this is probably an option for you. You will have to hire a lawyer and you will have to go to court to get your bankruptcy discharged. This is quick and easy, but will stick with you for many years into the future. It is not the best option, but if you are desperate, then you may want to look into filing for bankruptcy.

2. Credit Counseling

Even though this option is also not my best debt settlement option it is a great option. With credit counseling you will have one monthly payment and you will learn how to get out of debt on the income you currently have. They may ask you to sell things that are not necessities and look into creative ways to get some money out of your belongings. They may also ask you to get a second job or if your wife is not working they will want her to start working to help boost the income. They will look for the best ways to increase income and decrease spending to help you get out of debt.

3. A Consolidation Alternative

The best debt settlement option is known as a consolidation alternative because it is not a loan, bankruptcy, or credit counseling. This type of option is only for those with at least $10,00 in unsecured debt, like credit cards. This will help you get out of debt with one monthly payment, a free consultations, and you will not have to worry about bankruptcy. This is my favorite option and if you follow the plan you can be living a debt free life in less than 3 years.

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