When we get into trouble financially we automatically think of filling bankruptcy too easily solve the problem. I have thought about filing for bankruptcy so many of times myself. I have gotten credit cards in the past and have gotten into some trouble. When we apply for these cards we are not thinking of the long term affects of it. Things in our life at the time could be very secure but that can always change super fast. I wish that I had the knowledge back then that i do now things would have been different. Whether you are purchasing something that you really want or even need on a store credit card or just a credit card that can be used any where you it does not really seem to make a difference. The end result is usually the same in my eyes as far as the way most companies seem to betaking advantage of you. When you get your statement in the mail you notice that they are charging things such high interest fees and outrageous late fees not to mention any of the hidden fees in small print you may have missed. Getting into trouble seems to be an easy task to achieve but the real question is how to solve it without making things worse for yourself.
There are a few different alternative that you have and I have heard that a new company that is going to be called Trout Associates opening soon. They can help find the best route to take besides filing bankruptcy which is an easy way out. But what some people simply just seem to forget is that filing bankruptcy will in some way or other haunt you and the effects from it can also be damaging to your decisions. When some companies see that you have filed bankruptcy they will think twice about partnering up with you thinking you may be of high risk.
Some of the things that you might want to check into is transferring your debt to a zero percent balance transfer credit card. Their are a lot of companies that offer this and the time frame could even be for up to 12 – 18 months. So as long as you pay the greater amount that you transfer within the allotted time they give you that could save you a lot of money in the end.
Another way to go is by doing a debt consolidation loan with you are simply combining your debt into one and you just make one monthly payment. this has its advantages as well as disadvantages. some of these advantages can be that you only have one payment to send out every month and the other is that all of the unwanted collection creditors will stop calling you. But the other side of that is that for the most part you may have a lower monthly payment but the term of the loan may be extended out for a longer period of time than the original debt that you have.
When you figure out the route you want to take to obtain some peace in your life I would keep an ear out for Trout Associates they will be able to help you on your journey.