Ads
that tell you... “You can get out of debt
with no payments and without filing bankruptcy”....
are a scam. They promise to get you out of
debt....but instead....they just steal your
hard-earned money....and leave you even deeper
in debt or...as they say...even more in the "red".
Present
The Promise
The Result
Interest
Debt
No
Debt
Even
More
Debt
Credit
Counseling Re-Payment Plans:
Credit counseling
organizations promise to get you out of debt,
.....but all they can do....at best.... is lower
your interest a little on credit cards....and then
only some credit cards.
Present
The Promise
The Result
No
Debt
Interest
Debt
Less
Interest
Debt
Bankruptcy:
Others
ads promise, but only bankruptcy delivers.
Only
bankruptcy can actually gets rid of debt.
Present
The Promise
The Result
Interest
Debt
No
Debt
No
Debt
Disclaimer:
Example concerns non-priority, unsecured
debts, like medical bills and credit cards.
Result shown assumes a Chapter 7 bankruptcy
filing, and no excess equity or excess income.
Want a more
in-depth comparison between credit
counseling and bankruptcy?
(Click
here.)
