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Debt Relief
Priorities |
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Call Today: (877) 274-1260 |
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If you
successfully complete our program, it’s possible
that you’ll enjoy these benefits: |
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Settle your debts for less than you owe |
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(read here for full details about how much you can expect to save) |
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Resolve your unsecured debts in 18 to 60 months |
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(read here for full details on how
long our program lasts) |
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No Up Front Fees - Don't Pay Till You See Results! |
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| How To Prioritize Your
Balances for Debt Relief |
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The first step in order to provide oneself adequate debt relief
is to organize your credit and debt situation. List your debts and
organize them by the total balances, interest rates charged, and
monthly payments. By cataloging your outstanding debt, managing it
becomes much easier. Once the debt is organized, categorize each
debt according to the importance of staying current with them.
Most Important – housing, utilities, insurance, vehicle loans, child
support, federal student loans (assuming they cannot be deferred or
put in forbearance), taxes, and medical bills with a provider you
will definitely need to use in the future. These should be
considered the most important debts to pay because defaulting will
result in foreclosure, repossession, imprisonment (in the case of
child support or tax evasion), or some other immediate and
significantly damaging action. In the case of the medical bills with
an essential provider, by defaulting your payments you may be
refused their services.
Somewhat Important – loans with trivial collateral (stereos,
televisions, etc), furniture store accounts, private student loans.
In the event that a consumer is overextended to the point where
defaulting is inevitable, these debts should be prioritized
moderately. Private student loans cannot be discharged in a
bankruptcy, but they do not have the same strong legal remedies
afforded to federal student loans.
Mildly Important – credit card, pay day cash advances, personal
loans with high interest default rates. The reason why these are
mildly important is because they are unsecured and not afforded any
of the legal advantages of other debts, notably student loans.
However, the high interest rates charged in the event of non-payment
make these important to pay because late fees and interest charges
can accrue rapidly and dramatically, thus increasing the balance
owed.
Least Important – medical bills with a provider you will not need to
use in the foreseeable future, deficiency balances from
repossessions. These receive the lowest priority because they are
both unsecured and the creditor normally cannot increase the balance
by charging excessive interest or late fees.
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