Options for dealing with credit card debt:

Debt Settlement and Negotiation
Debt Consolidation
Debt Counseling
Bankruptcy
Do Nothing 

Debt Settlement and Negotiation

• Rapidly becoming the top method for consumers to resolve their debt problems
• Not a loan, so qualification is not necessary
• Negotiation is based on your principal balance, saving you thousands of dollars in interest and finance charges that you would have paid over the next 30+ years on your own
• Done by independent companies, such as Private Debt Solutions, representing consumers, and not affiliated or supported financially by your creditors
• Offers affordable, realistic monthly payments to eliminate the debt
• The debt is usually paid off in 12- 36 months depending on the payment plan you choose
• You control the money and the payments to creditors
• Lowers your debt to income ratio more quickly than Consumer Credit Counseling, a significant factor in your ability to quality for future credit your overall credit score
• Perfect for those who do not want to take out a loan and continue paying interest for a long period of time

We do debt settlement to help you in your path to becoming debt-free! To explore your options and a customized solution based on your personal circumstances, please contact one of our debt specialists to learn more. Our program will enable you to be become debt-free within 12-36 months while eliminating 40-60% of your total debt. 

Debt Consolidation Loans

• You must qualify
• Requires ownership of real estate property or a pledge of collateral
• A Home Equity loan reduces future equity available in your property
• Missing payments could cause you to lose your home or the collateral you pledged
• A transaction fee is usually required upon closing or built into the interest rates
• It can take 10-20 years to pay back the full amount, depending on debt balance and your ability to make payments
• You will pay back the full amount of your debts including interest

Bottom line: With debt consolidation loans, you are exchanging your unsecured debts for a secured debt - a big risk.

Consumer Credit Counseling

(Sometimes thought to be Debt Consolidation)

• These companies are generally funded by the creditors themselves and are just another form of a collection agency representing the creditors
• Your principal balance will often take 5-10 years to pay down 
• You will pay over 25% of your principal balance in interest fees over the first three years
• You will end up paying back your full balance plus interest, plus the fee to the credit counseling company
• These companies still charge a monthly 'donation', typically $20-$60 per month for the entire length of the program, amounting to thousands of dollars to have the company pay your debt in full, plus interest
• Negative marks can remain on your credit report for up to seven years
• This is viewed by lending institutions as Chapter 13 Bankruptcy since another company is controlling your money and paying your creditors for you

Bankruptcy

• Represents a severe negative impact on your credit rating for 7-10 years
• Can cost $1,000 or more to file
• May have a negative impact on your current or future employment status, as bankruptcy is part of public record forever
• In a Chapter 13, you may end up paying 25-75% of your debts back through the court system
• May result in higher interest rates on future loans
• Carries a negative stigma, mental stress, and other burdens
• Should truly a 'last resort' and avoided if at all possible 

Do Nothing, hoping that something changes

• Interest rates usually average over 18% and can increase at anytime
• You'll pay nearly 50% of your original balance in interest alone over the first three years and it will not make a dent in your principal balance
• If your rates are 25% or higher it is virtually impossible to pay off your debt by making minimum payments
• It will take 20 to 40 years to become debt-free with little room for obtaining additional credit
• If you've already fallen behind your credit report is negatively affected and you still have the debt to pay off

We are financial turnaround specialists with unique offerings to address nearly every debt problem. Through debt settlement we help you get caught up more quickly than you ever thought possible.

Debt relief through debt settlement is achieved by negotiating a settlement amount of the total debt. Debt settlements are negotiated based on the principal balance, which saves thousands of dollars in interest and finance charges that would generally be paid over several years. Debt settlement will help you get out of debt sooner than any other programs that aid in providing debt relief. Becoming debt-free in 12-36 months also lowers your debt-to-income ratio sooner. This is significant since a lower ratio is a large factor in a client's ability to qualify for future credit. The ideal option for those who do not want receive a loan and continue paying interest indefinitely, debt settlement also allows the client to control their money and the payments to creditors.

Private Debt Solutions (PDS) specializes in debt relief by providing quality debt settlement programs. In addition, we keep your information protected and private, allowing you to feel completely confident during your debt settlement program. We are proud to provide quality debt settlement programs for the millions of people struggling to regain control of their finances and their lives.

Call us at 1.866.998.3328 or fill out our quick quote form online. The sooner you get started the sooner you will be able to enjoy more of your hard earned money.