| When you are crushed with the weight of debt and | | | | monthly income. If you get a balance then that is you're |
| are desperate to get rid of it, then the first thing that | | | | paying down capacity. If the balance is negative or |
| comes to your mind is to get the debt settled. Nobody | | | | zero then you need a financial help. |
| says that settlement is the only way to bail you out of | | | | If your income exceeds your monthly expenses and |
| financial crisis then the financial crunch you are facing | | | | you are can pay your debt you just need a negotiation |
| needs to be redressed. | | | | to reduce your balance amount. Look for a reputed |
| The two probable solutions to the problem are to a | | | | settlement company and get your debt settled by |
| start anew financial life. For this you need get your | | | | them. They not only determine your qualification for |
| debt settled or file bankruptcy. It is very important to | | | | debt settlement but also negotiate for least payments. |
| know the pros and cons of both options before you | | | | The other way to solve the financial crisis is to file |
| choose any of them. | | | | bankruptcy. Both ways you hit your credit card score. |
| Make a list all your monthly income, bonus and | | | | In bankruptcy credit card score is hit for next ten |
| investments. Next make a list out all your mandatory | | | | years.In debt settlement credit records it for next |
| monthly expenses. This includes expenses towards | | | | seven years. You may be hurting your credit score but |
| housing, transportation, insurance, doctor visit, utilities | | | | at the same time you know you are taking your debt |
| etc. Do not include payments toward your credit card. | | | | problem seriously. |
| Now subtract your total living expenses from the total | | | | |