Solutions for Indebtedness

If you cannot pay off your credit card debt, or if you cannot make the minimum monthly payments, you have three options:

1.  Bankruptcy

     Bankruptcy leaves a negative mark on your credit report for up to seven years

     Bankruptcy becomes a matter of public information

     A bankruptcy is conducted through the courts; you will need to pay attorney fees and court costs

     In bankruptcy you must still pay back in full anything you have charged in the last 90 days

     In bankruptcy you must still pay back a portion of your total credit card debt beyond the 90 days

2.  Settlement

     Settling your debt for a lesser amount with the banks still creates a negative mark on credit reports

     Banks settle for sometimes as little as 50 cents on the dollar of the total debt     

     You must pay the 50% of the total debt - for a total $10,000 debt you must still come up with $5000

     You will be charged income tax on the amount that is forgiven; it is considered income by the IRS!

     You will likely need to resort to borrowing money from friends and relatives

     Friends, relatives and acquaintances will know about your financial situation

3.  Barrons Debt Freedom Kit

     There will be a negative mark on your credit report until the report is corrected

     Barrons Debt Freedom Kit contains the means for credit correction, before the usual specified time

     Barrons Debt Freedom Kit shows you how - step-by-step - to become financially free again

     Barrons Debt Freedom Kit offers the purchase of optional technical support or turnkey system.*

*Additional charge