The Truth About
First and most importantly Debt settlement is meant only for consumers or businesses who have a legitimate financial hardship. A financial hardship is simply when you have experienced an event such as a loss of income, loss of job, divorce, business failure, or medical issue which has made it impossible for you to make your monthly minimum payments without sacrificing your basic needs like, food, rent or transportation.
In these financial hardship situations, bankruptcy is the most common course of action. Unfortunately, unsecured creditors like credit card companies will likely not recover a cent of what is due to them in bankruptcy proceedings, and the consumer will ruin their credit worthiness for years. Remember that employers, renters and many services ask if you have EVER filed for bankruptcy Although it may not be reported after 10 years, it can impact your life for far longer.
So what’s it take?
Unsecured debts totaling over $10,000
Ability to pay at least 50% of current payments
These are some of the qualifications for debt settlement. We can help you figure out if it will work for you.
It’s An Alternative
Bright Credit offers a free, honest consultation to discuss your options.
Our team of experts have over 25 years of experience, and have helped thousands of consumers and businesses get free of debt including private student loans, medical bills, unsecured personal loans, credit card debt, and more.
We’re consumer advocates offering a free, confidential consultation to provide answers to any debt, private student loan, credit repair, or business credit questions you may have.