Debt Elimination
Bankruptcy
Quick Property Sale
How We Help

Bankruptcy vs. Debt Elimination

Having the responsibility of paying all your debts on time will surely take its toll on you and your family. Some homeowners consider bankruptcy as a solution to all their debt troubles. However, there are some reasons why debt elimination works better as a solution than bankruptcy. Here are some of these reasons.

1. Faster Results:

choosing to eliminate debt rather than file for bankruptcy could provide you with faster results. A bankruptcy proceeding means attending several court hearings and weeks of preparation. You will never be sure of the outcome of the bankruptcy proceedings since all negotiations will still be tackled during this time.

2. Short term consequences on credit history:

if you decide to eliminate your debt rather than file for bankruptcy, your credit history will suffer very little. Credit ratings are considered very important and with a bankruptcy record, you might have difficulties establishing your financial credibility. On the other hand, a debt elimination will leave you with a credit report that reflects only missed payments and/or unpaid balances.

3. Flexibility:

when you choose bankruptcy over debt elimination, you will not experience much flexibility on the payment terms. Basically, you will have to compromise with the different creditors on the terms and conditions of the payment schedule.

4. Protection of Assets:

filing for bankruptcy increases the risk of having to give up all your precious assets to pay off your creditors. You will have to consider moving out of your home, giving up your job and even transferring your children to another school. Such inconveniences will be avoidable if you choose to consolidate and eliminate your debts.

5. Cost Effective:

compared to a bankruptcy, debt elimination will not mean added cost like fees for lawyers or insolvency practitioners. This particular feature of debt elimination is very beneficial for homeowners looking to cut expenses while trying to work out ways to effectively manage debt.

Through Rent Back Direct’s sell and rent back plan, we can provide you with a clear-cut solution to address your debt elimination requirements. You take control of your financial situation and with our expertise, come up with a plan to effectively manage your debt without the hassles and worries of a bankruptcy proceeding.

If you are interested in our service, you can call or visit us anytime. Our friendly associates are always ready to answer any of your questions and provide you with quick and straightforward response at the soonest possible time.