Start your life now….or five years from now?

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Start your life now….or five years from now?

I would like you to think about that for a moment.

“Will you marry me….five years from now?”

“We would like to hire you in our company….five years from now”

“You can pay your debt and rebuild your credit….five years from now.”


So, what do I mean by that? Almost all debt settlement programs are based on sixty (60) months. The company you use will devise a plan whereby you will make equal monthly payments over five years. At the end of that five year period the debt included in the program will be settled and you may begin to rebuild your credit.

Did you miss it?

You are done with the settlement process after five years.

You may begin to rebuild your credit after five years.

Ask yourself, what were you doing five years ago? Did you think you would be in this position five years ago?

My point, we really don’t know what life is going to hand us after five years.


So, maybe the best plan would be to manage our debt today and start rebuilding your credit in 90 days.


No, that was not a mistake. If you file a Chapter 7 bankruptcy today you can be finished in ninety (90) days and begin rebuilding your credit immediately thereafter. Exceptions always exist and we will discuss all possible outcomes.


As always, you may not qualify for a Chapter 7 bankruptcy and all of your debt may not be dischargeable. That is something we can discuss together. I will say that if your debt cannot be discharged in a bankruptcy you probably cannot get rid of it in a debt settlement program.


All things being equal, if you can file for a Chapter 7, but decide to use a debt settlement company you will have to wait approximately five (5) years before you can rebuild credit. In addition, many lenders will not give credit while you are in a debt settlement program. This applies to mortgages. Lastly, if you are completely convinced that debt consolidation is the method you need, why wouldn’t you use the system that is backed up by the federal government? A Chapter 13 bankruptcy is a debt consolidation program. Except all the creditors are forced to deal with the United States. Something else to consider.


So, when it comes to your life, your family and your financial future, do you want to make the best decision possible?

Or do you want to wait five years?