If you have a lot of credit card debts and you are struggling to make the payments each month, you probably wish that you could just snap your fingers and make it disappear. The idea of eliminating debts without paying any money sounds great, but it’s not realistic, is it? Well actually, you may be able to clear your debt without paying the full amount and, in some cases, you might not have to pay anything at all. So, how do you eliminate debt without paying anything?
Should You Just Stop Paying?
If you think that it might be a good idea to just stop paying, that is going to backfire on you. If you don’t meet your payments, you will get late charges and your debt will build up further. Then the collections agency will get involved and you may even be taken to court. If that happens, you don’t have much chance of winning if you haven’t been paying your debts on time. Eventually, you could even lose your house, so don’t just ignore the payments.
Debt Discharge Services
In some cases, there are legal workarounds which mean that you can free yourself from all of your debts and your creditors can no longer come after you for the money. The Debt to Success System offers debt discharge services to help you achieve this. They will use their legal knowledge and expertise to find ways to eliminate your debt without having to pay a penny. This is a much safer option than avoiding the payments because the creditors have no legal avenues to pursue you. Unfortunately, many people don’t even realize that this is an option and they end up paying huge debts that they could easily have avoided if they used a debt discharge service.
In the United States, by law, no fees may be charged for debt relief services until debts are successfully reduced or resolved. Be sure you understand the laws governing your state and locality.
Bankruptcy
If debt discharge services are not an option for you and you still can’t afford to pay your debts, you need to look into your other options. Bankruptcy is often the best way to clear debts that you cannot afford, but unfortunately, you will have to pay some of the money back. You will make an agreement with your creditors to pay what you can afford, and then the rest will be written off. However, you will lose a lot of your assets and this will have a big impact on your credit score, which makes life a lot more difficult in the future. If you can use a debt discharge service, this is a much better option than bankruptcy.
If you are struggling with your debts and you are looking into debt discharge services or bankruptcy, you should first consider whether things are as bad as you think they are. In a lot of cases, you may be able to handle your debts on your own if you rewrite your budget and make some big cutbacks. You should also look into debt consolidation loans because they can reduce the amount of interest that you pay. Whatever you do, make sure that you don’t just stop paying your debts because this will lead to more trouble.
