The links below will help guide you toward the best way to fix your own personal debt problem. The brief information here as well as the extensive articles and pre-qualification questionnaires from a debtor attorney should educate you about debt consolidation loans, credit counseling, debt settlement and bankruptcy, it should not be considered legal advice or a replacement for finding your own attorney. The sections order corresponds to how damaging the method will be to your credit from least to worst. For even more information on debt visit or sites on Bankruptcy Alternatives, Bankruptcy Questions, Credit Card Debt or How To Stop Home Foreclosure. Good luck with your debt fix!

Debt Consolidation Loans:
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Debt consolidation loans allow people to consolidate many debts into one loan with one payment each month. Generally interest charged on debt consolidation loans falls far below the interest charged on most credit card debt allowing easier repayment of the debt. These loans, in most cases, rely on a debtor's home for security making them available only to homeowners. LendingTree offers secured debt consolidation for homeowners and some personal loan options for excellent credit debtor's who do not own property. Unsecured personal loans for people with good, fair or bad credit can be more difficult to attain and loan amounts may be smaller. To read more about debt consolidation loans including their dangers you may answer a pre-qualification questionaire or read an article, written in a frequently asked questions format, by a debtor's attorney on the risks and benefits of debt consolidation loans.

Credit Counseling Services:

Credit counseling organizations work with your creditors to reduce the interest payments on your debt, sometimes eliminating interest entirely. These programs allow debtors to use the period of interest reduction to pay down their debt. Repayment of the principal balance of the debt through credit counseling generally requires full dollar on a dollar payment without reduction or discount. Often these firms maintain non-profit status, but they are not government sanctioned or public service companies. To see if credit counseling might be the right solution to fix your debt you may wish to answer the pre-qualification questionnaire, read an article on credit counseling written in the FAQ format or follow links to several consumer credit counseling agencies.

Debt Settlement Services:

Debt settlement firms operate by contacting your creditors and negotiating settlements on each of your debts. Most of these debt settlement firms set their goal at reducing your debt down to 30-50 cents on the dollar through their efforts. Often debt settlement payments may strech out over a term of years. Anyone may use debt settlement firms regardless of their home ownership status or credit. Be aware, however, that if you still have good credit allowing your debt to settle in this way may save you money, but it leaves your credit score in very bad shape. To see if debt settlement might be the right solution to fix your debt problem you may wish to answer the pre-qualification questionnaire or read an article on debt settlement written in the FAQ format or call 800-351-3301.

Stop Foreclosure:

No matter if you just envision missing your first payment, your auction date awaits soon or you would just like to learn more about how to prevent a foreclosure, the more you know and the sooner you learn it the better off you will be. Almost every foreclosure can be avoided with the proper planning and allocation of even limited resources. Methods include refinancing the mortgage facing foreclosure, working things out with the bank yourself or having a professional help negotiate a foreclosure avoidance plan for you. When those choices don't work a Chapter 13 Bankruptcy can save the day. You may wish to use a special interactive tool to help suggest a foreclosure prevention choice for your own situation or just visit a site filled with articles and information about how to help stop a foreclosure on your home as well as information to better understand the foreclosure process. The banks may make you feel you have no choice but to lose your home, don't believe it, the sooner you start taking action the more choices you have save your home from foreclosure.

IRS Tax Settlement Services:
Settle IRS tax debt through an offer in compromise

Some say death and taxes remain item beyonds ones control. Yet in certain circumstances taxes may be negotiated and paid at a steep discount. When a taxpayer presents a plan for the IRS to take a lump sum of money as settlement of the entire tax obligation the IRS calls it an "Offer in Compromise". While anyone can put together an Offer in Compromise, your best bet for having the IRS approve such a plan would be having the assistance of an Offer in Compromise professional. Typically those who put together these plans once worked as agents for the IRS or practice law specializing in debt or taxes.

Student Loan Consolidation:
Reduce your student loan payments.

In most cases Student Loans may not be discharged in a bankruptcy. You may, however, reduce you payments by consolidating student loans. Under most consolidation plans interest rates can be lowered, multiple payments can be combined into one easy payment and sometimes terms can be extended. You may wish to read more about the how to address student loan debt in bankruptcy or working with student loan debt outside of a bankruptcy.

Bankruptcy lawyers, Total Bankruptcy

Bankruptcy represents both the most devastating debt solution for the debtor's credit while providing the most complete elimination of the debt. A chapter 7 personal bankruptcy can wipe out all of a person's debts, allow them to keep all of their possessions and get a fresh start again. Exactly who can qualify to have their debts discharged in a "no asset" case where they retain everything varies by state. In chapter 13 bankruptcy cases debtors reorganize their finances by paying a portion of what they owe as settlement in full of their debts. Chapter 13 mainly comes into play as a means to save a home from foreclosure. To find an attorney near you try Total Bankruptcy or AttorneyFind or call 877-219-3201. For more information on bankruptcy you may read some of the many pages at Debtor Links or use our interactive bankruptcy second opinion analysis tool, which will also aid in establishing how your situation fits within your own state's rules.

Debt Solutions For Certain Fixed Incomes:

Anyone can experience a financial hardship and struggling to pay bills is hard enough without being bothered and threatened. The law protects income from Social Security, disability, veterans` benefits, and certain pensions. If these are your or your loved one`s main source of income, they may be able to stop the calls and letters. In these situations, lawyers will explain to creditors and debt collectors that the law protects your income and possibly your assets. Usually, they will get them to leave you alone so that you can have peace of mind. Legal Advocates for Seniors and People with Disabilities (LASPD), helps provide seniors and people with disabilities the opportunity to live without constant harassment from creditors and debt collectors. For more information read the FAQ on dealing with debt for people on a fixed income in this way.

Credit Repair and Rebuilding:
Credit repair contact form for professional credit repair help.

A master strategy for dealing with debt should always include a plan for rebuilding one's credit. Time passing and making timely payments to all remaining creditors following a debt problem helps the situation from the start. To accelerate the process a debtor might obtain a regular unsecured credit card or a secured credit card and make very sure to pay at least the minimums by the due date every month. To find out what your credit looks like reports can be ordered online from the major credit reporting agencies such as Trans Union. In some cases the reports can be obtained for free, otherwise they may cost $8-$30 depending on the type of report ordered. Use the reports to know where you are starting from and to look for errors. You should take steps to have false items removed yourself or get a professional to make sure the agency corrects the issue. For more information you can read a complete article. Also, for even more great help you can go take a free online credit course that will help you start improving your credict score right away.

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For information on retaining or consulting with Attorney Brenner please visit the contact page.

Nothing contained herein should be construed to constitute advice for your personal circumstances. This is intended as a peripheral exposure to the various options available, but by no means is this a comprehensive or exhaustive analysis of the bankruptcy laws or their alternatives. Whether or not you should file a Chapter 7 bankruptcy, Chapter 13 bankruptcy, or any bankruptcy, will vary depending on your personal circumstances and should only be undertaken after careful consideration, analysis and after consultation with an attorney experienced with such matters. These pages may contain information and rules peculiar to the Commonwealth of Massachusetts.

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The most recent update of this page occured on 07/21/06.