Debt Consolidation USA Explains Chapter 13 Bankruptcy Filing

by Shelton on August 6th, 2014

filed under Debt Consolidation

>PRWEB.COM Newswire

Los Angeles-Long Beach, CA (PRWEB) July 31, 2014

Debt Consolidation USA recently shared in an article published last July 30, 2014 the steps a consumer has to take when filing for Chapter 13 bankruptcy. The article titled Step By Step Chapter 13 Bankruptcy Process aims to educate debtors who are way in over their heads with debt payment and are looking to seek debt relief by filing for bankruptcy.

The article starts off by explaining how bankruptcy can adversely affect a consumers credit score by as much as 200 points. And the bankruptcy will reflect on the credit report for years to come. Future creditors frown on borrowers asking for a loan who underwent bankruptcy. This is because of the possibility that the borrower might not be able to pay back the loan down the line because of a previous bankruptcy record.

Even though Chapter 13 bankruptcy filing fell from 355,081 to 329,256 from 2013 to 2014, it shows that there a lot of debtors seeking refuge under bankruptcy to discharge them of suffocating debts. As most would prefer Chapter 7 bankruptcy because it discharges most loans after liquidating assets, Chapter 13 bankruptcy is an option for debtors whose income is above the average median and are deemed able to pay a portion of their debts.

As Chapter 13 bankruptcy is basically a repayment process backed by the court, the article shares the steps that a debtor needs to know when undergoing bankruptcy filing. The first thing a debtor need to do is to set a meeting with the lawyer. Though it is possible to apply, file and undergo bankruptcy filing without an attorney, it is always best to have one to be guided more accordingly.

Taking a means test is also part of the process as this will determine if a Chapter 7 or a Chapter 13 is best suited for the current financial status of the debtor. There is also a credit counseling course that is required by the bankruptcy court. This can let the debtor know of other possible options to get out of debt outside bankruptcy.

The article explains that the next step is preparing the documents or known in the bankruptcy industry as schedules. The next steps would be to have the lawyer file the petition together with the schedules and payment plan. To read the rest of the article, click on this link: http://www.debtconsolidationusa.com/bankruptcy-2/step-step-chapter-13-bankruptcy-process.html.

Read the full story at http://www.prweb.com/releases/steps_for/Chapter_13_bankruptcy/prweb12062034.htm

Three Best Debt Consolidation Loan Companies for Residents of Wyoming …

by Shelton on August 6th, 2014

filed under Debt Consolidation

The top three debt consolidation companies for Wyoming residents shared by Best Debt Consolidation Loans.

Cheyenne, WY (PRWEB) July 22, 2014

Residents of Wyoming that are struggling with debt or even facing the bleak prospect of having to file for bankruptcy now have honest, trustworthy help available.

The company BestDebtConsolidationLoans.org recently analyzed the online debt consolidation loan companies available to residents of Wyoming. The goal of this study was to identify those online debt relief providers that could be trusted to provide good, cost-effective solutions. The study focused on six criteria as follows – debt solution alternatives, customer satisfaction, customer service, fees, financial standing and business ethics.

A spokesperson for BestDebtConsolidationLoans.org pointed out that there are numerous debt consolidation loan companies on the Internet but not all of them are honest and ethical. In fact, as he noted, “There are those that are downright swindlers. These are companies that charge huge upfront fees, fail to deliver on their promises and then close up, taking their customers money with them. Given this we felt it was important to determine which debt consolidation loan companies were honest and ethical and could be trusted to deliver on their promises. We did find that, in fact, there are such companies and that the three best are National Debt Relief, CuraDebt and American Debt Enders.”

Residents of Wyoming have a median household income of just $47,660. This compares – unfavorably – with the nations median household income of $51,017. In addition, Wyoming residents have an average credit card debt of $4789 per borrower. When you add this to the always-increasing costs of food, housing, fuel and health care, it becomes easy to see why many of the states residents are struggling with debt.

In analyzing online debt relief companies, BestDebtConsolidationLoans.org determined that the best option for debt-saddled Wyoming residents is National Debt Relief. It found that National Debt Relief is a very honest and ethical company. As an example of this, National Debt Relief has no upfront fees and, in fact, charges nothing until it has settled its customers’ debts to their satisfaction and they have signed off on their payment plans. National Debt Relief also scored well in customer satisfaction as most of its first-time customers reported that they were very satisfied with the company and its services.

The Better Business Bureau (BBB) awarded National Debt Relief an A rating due largely to the way it treats its customers. Membership in the BBB alone is an honor and not every business qualifies. Not only is National Debt Relief a member but maintains a rating with the BBB that is just one point below the Bureaus maximum rating.

National Debt Relief also scores highly in the area of debt solution alternatives because it does not offer a one-size-fits-all program. Instead, its debt counselors tailor their programs to fit the needs of their individual customers, most of whom owe $7500 or more. These counselors have strong relationships with all the major lenders, which enable them to typically save their customers thousands of dollars and help them become debt free in 24 to 48 months. For that matter, National Debt Relief has already helped more than 100,000 individuals and families achieve freedom from their debts.

BestDebtConsolidationLoans.org ranked the company CuraDebt as the second-best option for Wyoming residents facing big debt. The reason for this was largely because this companys debt counselors can help with credit negotiations, debt settlements and financial advice. They have excellent working relationships with the credit card companies and are almost always able to deliver on the promises they make to their customers. CuraDebt’s counselors can not only help customers with their credit card debts but also with medical debts, personal loans, tax debts and student loan debt consolidation.