article thumbnail

Can I Settle My Credit Card Debt Myself?

Titan Consulting

Financial hardship could make it possible to negotiate debt balances and pay less than the full amount owed. Bankruptcy can wipe out unsecured bills, leaving creditors with no way to recover the debt. When Should You Consider a Debt Settlement Program ?

article thumbnail

SURVIVING FINANCIAL DISTRESS FROM COVID-19 IN THE RESTAURANT, BAR, AND SERVICE INDUSTRY

BN Lawyers

For an unsecured creditor to obtain a recovery, it would need to engage in a months-long legal process to obtain a judgment that could be halted at any point by a chapter 11 bankruptcy reorganization. Although minimum payments may result in accrued interest, that is better than a lockout or eviction.

article thumbnail

Seven Ways to Get Out of Debt in 2022

Better Credit Blog

You can transfer your high-interest rate debts to this card while the APR is suspended, and by the time your new card accrues interest, you’ll have paid off most of your debt. Debt consolidation loans. DMPs are used to pay off unsecured debts, such as medical or utility bills.