Legal debt relief allows you to resolve your debts responsibly. By resolving your debts legally you can avoid unscrupulous credit repair firms and others who may try to convince you that there is an easy way to make your financial problems disappear.
Types
Legal ways to resolve your debts include debt management plans, which allow you to pay off or greatly reduce your debts over about four years; debt settlement, which allows you to pay off your debt for less than the full amount owed; and bankruptcy. You can also simply choose to pay off your debts normally.
Misconceptions
There are not any government grants for getting out of debt. So-called government bail-out programs may offer loans for banks or other large institutions, but as of August 2010, there is no taxpayer money available for resolving personal debt.
Benefits
Finding a legal way to resolve your debt can add to your quality of life. Knowing that you have finally taken control of your finances may allow you to sleep better at night, feel better overall and look to the future with excitement.
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