Bankruptcy Isn't Always the Only Option

No one wants to owe creditors and banks forever, and living a life free of debt is the objective of many consumers throughout the U.S. However, sometimes even the best of us face hardships, such as job loss or unexpected high medical bills, which may cause us to use a credit card or miss a payment on a different loan. Due to the current economy, record high numbers of Americans are facing extended periods without a job and are now confronted with high debt leaving many considering bankruptcy.

When a person files for bankruptcy, they are basically given a chance at starting over financially but it comes at a price. A bankruptcy lasts on a credit report for up to 10 years and can prevent you from getting a loan for a home or car in the future. Some employers may even require a credit check and deny you employment because of your bankruptcy. Although bankruptcy may be the only option for some, it isn't the choice most should turn to.

For those who are unable to financially free themselves from debt, but don't want to declare bankruptcy, they have the option of entering a credit counseling service. Through a credit counseling service, such as that offered by Calvary Portfolio Services, you are able to resolve your overdue accounts or collections or make easy and often reduced lump sum payments to reduce your debt. Many of these programs will even create a customized payment plan to make paying down your debt easier.

These programs also often offer online payment options and allow you to quickly track your account so that you can watch your debt reduce every month. Cavalry Portfolio Services in particular offers outstanding customer service allowing you to work one on one with a consultant so that all your needs are met.

Even if your debt seems overwhelming now, that doesn't mean that it has to haunt your life forever. There are affordable debt resolutions available, and Cavalry Portfolio Services is one of them. You don't have to declare bankruptcy. You can pay off your debts, and rebuild or maintain your credit all at the same time.

Before you decide of filing for bankruptcy, consider using a credit counseling service

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