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Fast Track Debt Relief, Inc.
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My experience with this company has been nothing short of fantastic. I would like to point out especially the excellent customer serve by ***. She was always available, cheerful and worked hard t...
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My experience has been excellent. Everyone that I came in contact with has been very good.
Fast Track Debt Relief, Inc.
Sunday, June 25, 20175eKomi
Something unbelievable but true this program really helped me a lot so far
Fast Track Debt Relief, Inc.
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Fast Track Debt Relief, Inc.
Wednesday, May 3, 20175eKomi
I had been so over whelmed with being in debt and truly saw no way out. And with the help of *** and *** I am officially DEBT FREE. I cant begin to tell you how good this feels. And for some time...
Fast Track Debt Relief, Inc.
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My experience has been both beneficial and it has relieved all of my stressors in regard to my dealings with my creditors. Everyone has been really helpful.
Fast Track Debt Relief, Inc.
Saturday, June 10, 20175eKomi
What can I say!! Fast Track Debt Relief was a Blessing in Disguise and Life Saver for me and my family. With over $60,000+ in debt, we turned to Fast Track Debt Relief for assistance. They set up...
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Saturday, August 19, 20175eKomi
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Fast Track Debt Relief, Inc.
Friday, July 28, 20175eKomi
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Fast Track Debt Relief, Inc.
Wednesday, August 9, 20175eKomi
I had a very courteous, polite and extremely well knowledgeable about the information I received. All my questions were answered. We need more customer service like this young man.
FAST TRACK DEBT RELIEF ADVICE BLOG
NOV 08, 2017, WEDNESDAY
File-for-Bankruptcy--Fast-Track Should I File for Bankruptcy or a Debt Settlement?

Many people in debt find themselves weighing two options: Is it better to work with a debt settlement company or file for bankruptcy? Both come with trade-offs, and there can be an undeserved social stigma. Remember this: you deserve help. Don’t feel “less than” for seeking and accepting it.

 

How Long Do They Take?

 

Debts in a Chapter 7 bankruptcy (the common individual bankruptcy method) must be discharged within 90 days of filing. Debt settlement is based on a more personalized plan; lump sum settlements can go much more quickly or a little more slowly depending on your situation.

 

Interest & Fees

 

While a debt settlement is negotiated, it is still exposed to interest and fees. That means until you make the decision and go through with it, these are assessed as normal. Interest and fees will be stopped in a bankruptcy as soon as you discharge your Chapter 7. Essentially, when the paperwork goes through on either, interest and fees stop.

 

New Credit

 

Whether you work with a debt settlement company or file for bankruptcy, you'll typically have to wait 24 months before new unsecured credit is offered to you.

 

Your Things

 

Debt settlement allows you to retain a greater level of control. Essentially, you're settling for a certain amount of money to be paid for your creditors to settle the larger debt. You don't risk anything being forfeited.

 

Bankruptcy can result in forfeiture of property, especially in situations where a lien has been implemented. This can put fundamental items (e.g. cars, houses) at risk, and this lack of control is one of the biggest reasons debt settlement is often viewed as a more favorable option.

 

Other Impacts

 

Debt settlement doesn't carry the long-term impact that bankruptcy often does. It will stay on your credit report for seven years. Bankruptcy will stay on it for 10 years. Furthermore, renters and employers will often react more understandingly when it comes to seeing a debt settlement on your background report. Bankruptcy still holds a stigma and in many ways impacts you more heavily than debt settlement. That's not necessarily deserved, but it is the reality, and one of the biggest reasons why debt settlement is often preferred.

 

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