A recent study found that the number of Americans filing bankruptcy is on the rise as credit card companies are raising interest rates and consumers are finding it impossible to keep up. Bankruptcy filings in the US now exceed 6,000 filings per day!! Reputable debt settlement companies, such as SYD Financial, can help consumers to avoid becoming part of that statistic. One reason for that is credit card companies are willing to negotiate and settle off a portion of the total debt owed instead of getting nothing if the consumer files bankruptcy.
Debt settlement provides consumers with a two to three-year plan to get out of debt without the 10-year plus stain of bankruptcy on their credit report. Bankruptcy also is time-intensive and can be difficult to apply for, if a consumer even qualifies.
To illustrate debt settlement as a growing choice over bankruptcy, the industry returned more than $2.2 billion in consumer debt last year. In addition, more than $500 million in settlement funds saved by consumers are available to credit card companies today.
Give SYD Financial a call at 866 364-9161 today!
Tags: alternative to bankruptcy, Bankruptcy, Banks, Credit Card Debt, SYD Financial