1. Continue to Make Minimum Monthly Payments? This could take you more than 30 years, and cost you 2 to 3 times the orginial amount. Most of your hard earned money will go to interest charges. If you can, you should pay your obligations.. Debt Settlement and other solutions are for those who can't, or are having trouble making those payments.

2. What about Stopping My Payments and doing nothing? You would be hounded with debt collection phone calls and letters. Eventually you could possibly be sued thus receive a summon and/or arbitration notice and end up with court judgments. Depending on the state you live in, with a judgment they could garnish your wages, put liens on your home and other property.

3. What about Credit Card Debt Elimination companies? Sorry, "been there, done that, and bought the T-shirt" and received judgments to prove it. How do you think I got into this business? I got duped, but I learned. It all sounds great, i.e.: "the banks create the money by monetizing your signature", "dispute the debt with the credit card bank using Federal Law", etc., etc., etc. Don't fall for it. The credit card banks are all over it. Is there some basis for their claims, yes, but if you aren't disputing an actual transaction and trying to discharge all of your debt, you are going to usually have a problem. The larger banks will sue as soon as they see a dispute letter that doesn't deal with an actual transaction. 99% of the local judges will go along with the banks. Run, Run, Run. If it sounds too good to be true, guess what? For more information on this subject, click on "Credit Card Debt Elimination".

4. What about Debt Consolidation loans? A consolidation loan will increase your debt. Borrowing even more money could be dangerous to your debt situation and credit standing. Turning unsecured debt into secured debt is rarely a good idea. You are expected to pay back all your debt, in full, with interest. You could even put your home at risk by using equity to cover your debt. If you fail to make the payments, you can lose your home.

4. What about Credit Counseling services? These companies are generally funded by the credit card companies themselves, therefore they are not looking out for your best interest. You also pay 100% of what you owe over a longer period of time, increasing the interest and overall debt. They may claim it will take 5-7 years to complete their program, but there's no guarantee that at that point, you won't still owe more interest and late fees. Consolidation, credit counseling, and the majority of debt management companies promise to significantly reduce a consumer's debt or offer lower monthly payments, however the truth is that they are highly unsuccessful. In fact, in the vast majority of cases, consumers find out (the hard way) that most of the payments they have made to these companies do not go to the original creditor as they have been told, but instead remain with the company to cover their fees. Also, many do experience lower monthly payments, but this means that often times they will now be paying this amount for 30-40 years! The end result is that thousands of dollars in payments have in effect been wasted or are simply just covering the interest.

5. What about filing Bankruptcy? In October of 2005 the bankruptcy laws changed. For most, Chapter 7 is no longer an option (complete removal of debt). Chapter 13 is just a mandatory repayment plan over time, so why claim bankruptcy? Bankruptcy has a severe negative impact on your credit rating lasting for 7-10 years and can cost you thousands to file. In addition, bankruptcy carries a negative stigma, mental stress, stays on the public court record, and other legal entanglements.

6. What about Debt Negotiation/Settlement ? There are some good Debt Settlement Companies out there, and some not so good. They will charge you somewhere around 15-20% of your debt for settling your debt for you. They will talk to your creditors for you, so you really are at their mercy, since you will not really know what is going on with your creditors because you are out of the loop.

DO-IT-YOURSELF

7. What about doing Debt Negotiation/Settlement yourself? The Kingdom Debt Solutions debt negotiation/settlement educational package is a very viable option to all the options above, if you have debt other than government-backed, like student loans or back-taxes. This process will typically eliminate a large amount of your debt, over a 24-48 month period, by allowing you to negotiate a good settlement and allowing you to make payments you can afford within a reasonable "Debt Negotiation/Settlement" link above.

Why are we different? The ideal thing is to eliminate as much of your debt as possible, as soon as possible. Over the years we have come across what we believe to the best alternative available today. Our FREE educational package teaches you how to negotiate and settle your debts with your creditors yourself, saving you thousands in debt settlement company fees. You control the situation & your money. Do-it-yourself debt settlement is not for everyone, but it is for most. Depends on how modivated you are to take control and get debt free.
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