Do Nothing at All

So you've explored your options and decided there may not be an appropriate solution for you.  While doing nothing is an option, it is not a practical one. However, a significant number of consumers do just that.

Did you know 95% of clients who enroll into settlement programs exhaust all of their credit limits, this means that they max out every credit card, and they deplete all their cash resources in their checking and savings accounts, and then they go "Uh oh!  I don't have any money left over!"Lets say you have $30,000 in debt with $3,000 in monthly income, $2,500 in monthly expenses, and $500 left over to make $900 in monthly minimum payments.  Once you get to that point, there's not much you can do.  All you can do is make payments on some of your accounts, but not the others.

So what options do you have in that situation?  Either A, you're going to fall delinquent and encumber high interest rates, added finance charges, costly late fees, and harassing creditors.  Once you fall delinquent on $30,000 in revolving debt, you can expect to watch your debt increase by $5,000 to $10,000 in as little as four to six months.  It's amazing how fast these charges can accrue. Or B, you can structure a program to pay your creditors based upon your financial capabilities.

If you wish to improve your financial situation, it is imperative to take action. We have experienced clients who unfortunately didn't heed our advice.  They have called back months later and it was too late for us to help them. If your financial obligations far outweigh your financial capabilities and you are ready to do something about it, have an analyst contact you.