Vortex Debt Group

Consumer Credit Counseling Services

Consumer Credit Counseling Services is another alternative to Bankruptcy. These programs help individuals who might be current with their bills but have very high interest rates. The goal of this program is to negotiate the interest down so that more money goes to paying down your principle instead of the interest. Vortex Debt Group knows that individuals who will complete this program will pay back 100% of the balance back to the creditors.

Bankruptcy

While this option might meet some individual needs, the credit
repercussions for some can be great. A bankruptcy can stay on your credit for up to 7-10 years and should only be looked at as a last option. Bankruptcy not only affects your credit but may even affect your ability to secure certain job promotions or positions. Filing for a bankruptcy also includes possible significant upfront costs for a lawyer to represent you in bankruptcy court and the program does not guarantee acceptance even after payment of your lawyer’s fees.

Debt Consolidation Loan

You may be able to lower your cost of credit by consolidating your debt through a second mortgage or a home equity line of credit. Remember that these loans require you to put up your home as collateral. If you can’t make the payments – or if your payments are late — you could lose your home. Plus, interest on that loan adds up and before you know it, you are paying more than the original debt that you once owed.

Nothing

When you are having a difficult time making your minimum monthly payments and those accounts are falling behind or if your accounts are turned over to
a collection agency, you must look at all of your options instead of doing nothing, choose Vortex Debt Group to help you get back on track and help
you eliminate your debt.