Other Debt Relief Options

Debt Consolidation

A Debt Consolidation Loan is one of the most common solutions people think of when they fall into financial difficulties. This can be a problem for some, because some people who obtain a debt consolidation loan find themselves in much deeper financial trouble than they were in to begin with. A debt consolidation loan will not reduce the amount you owe. You will still have to pay back 100% of the loan plus interest. The interest rate may be lower than before, but this is because debt consolidation loans are secured loans, and this is a HUGE PROBLEM. Once you sign up for a debt consolidation loan, you have just gone from an unsecured debt to a secured debt and have put your personal assets at risk. Now if you can't pay your bills, your creditors can come and take your property away from you.

But guess what? Debt Consolidation can also be a blessing! The innovative professionals at BlueChip Debt Relief have come up with a solution that can put a debt consolidation loan into good use in settling your debt. Call us and ask about our Debt Consolidation Settlement program.

BlueChip Debt Relief is affiliated with mortgage professionals who understand our clients' needs and if you have 1. equity in your home and 2. have good enough credit, then call us at (888) 9 DEBT RELIEF (888-933-2873) so that we can custom tailor a debt reduction program to find the optimal solution to lower your monthly payments, help you deal with your creditors, and reduce your debts fast. Typically, we negotiate your balances down to about 50% LESS than what you owe. For example, through our debt reduction program, if you owe $40,000 to your creditors, we may be able to reduce your debts by over $20,000.

Consumer Credit Counseling (CCC)

The main problem with Consumer Credit Counseling organizations is that they are not working for you, they are WORKING FOR THE CREDIT CARD COMPANIES. This may seem unbelievable, but it is true. Most Consumer Credit Counseling agencies are alleged non-profit organizations that claim to be independent. But in fact, these non-profits are funded and supported by the very people you owe money to – the credit card companies! That is why Consumer Credit Counseling companies do not negotiate your debts down. They merely try to come up with a plan to make sure you keep paying your credit card bills.

And since you are repaying 100% of your balances plus interest charges (even after they are reduced by Consumer Credit Counseling), you could be in a Consumer Credit Counseling program for 5 years. Now compare that to 2-3 years in BlueChip Debt Relief's "Fresh Start Debt Relief" program and you'll see there really is no comparison.

In addition, many large Consumer Credit Counseling companies have been the subject of major lawsuits, and the IRS has recently stopped granting non-profit status to credit counseling firms. At BlueChip Debt Relief, we receive no payments from your creditors, so our incentives are perfectly aligned with yours – saving you the most money. This allows us to lower your monthly payments, put you on a shorter program and save you the maximum amount of money.

With BlueChip Debt Relief's "Fresh Start Debt Relief" program you can be out of debt twice as fast and for about 30-50% of what you'd be paying into a Credit Counseling Debt Management Program. Why not become debt free as soon as possible, as opposed to being stuck in a consumer credit counseling program for several more years? As soon as you learn about the alternatives, the decision becomes easy for you to choose BlueChip Debt Relief's "Fresh Start Debt Relief" program.

Continue to make minimum credit card payments

Sadly, this is the choice for millions of Americans who are struggling with their debts. Most of these people keep doing whatever they can to continue making minimum payments for the rest of their lives. This is a no win situation. If you are only meeting your minimum payments, you are paying almost entirely interest charges and not paying down your debts. And if you can't keep making their minimum payments, the creditors will start calling. If you ignore their calls, you can end up with judgments and garnished wages as well as liens against your property.

BlueChip Debt Relief is a consumer debt reduction service that uses debt negotiation and debt settlement to dramatically reduce your debt and let you move on with your life. We customize a debt settlement program for our clients with a monthly payment that fits within your budget. This monthly amount is frequently as low as half as much as your current monthly credit card payments. After enrolling in BlueChip Debt Relief's "Fresh Start Debt Relief" program, your life becomes very simple. All you have to do is set aside this affordable amount each month into a savings account we'll set up for you that you control.

Bankruptcy

Bankruptcy is a way to potentially get out of your debts. Unfortunately, it leaves a long lasting scar, and comes at a high price - financially, emotionally and socially. It can be a long and painful process and the repercussions can last for over a decade. The financial impact is severe; a bankruptcy will stay on your credit report for 10 years. Every time you apply for credit, whether it is a home, a car, a lease, or insurance, you could be impacted. The long-term effect of higher interest rates can greatly outweigh the shorter-term impact of filing bankruptcy. Additionally, most people do not realize that bankruptcy can stay on their court records for up to 20 years - which means it can follow someone for the rest of his/her life. If you apply for a job, a loan, rent an apartment, or even apply for insurance, your bankruptcy filing could be easily uncovered. What's more, with the new bankruptcy reform bill, it has become much more difficult to declare Chapter 7 bankruptcy. If you are seriously considering bankruptcy, you should think about contacting a lawyer to discuss this option.

At BlueChip Debt Relief, we believe bankruptcy should only be considered as a last resort. To potentially avoid bankruptcy, call us toll free at (888) 9 DEBT RELIEF (888-933-2873) to find out if you qualify for our "Fresh Start Debt Relief" program and exactly what your monthly payments will be. One of our professionals will review your financial situation and determine a solution that will fit into your budget and help you avoid bankruptcy.