If you have just survived a foreclosure, you know that the emotional and financial stress can be crippling. From legal fees to moving expenses, the credit card debt after a foreclosure can pile up quickly. Once the whirlwind of emotions passes, many people find themselves staring at their credit card balances wondering how to get out of debt and how to get on with their life. There are numerous systems available online that promise to help you erase credit card debt after a foreclosure. I've seen them all, and I've reviewed the good and the bad. In this article, I'd like to go over some of the best advice these systems have given. While I recommend investing the money in the quality systems, the advice below should get you on your way to erasing your credit card debt after a foreclosure. Debt Consolidation vs. Debt Elimination As you start reviewing your options, it is important that you understand the difference between these two terms. Many companies offer systems to "get you out of debt" but fail to explain that their program simply gives you one big loan to pay off all of your current debts and financial obligations. While this may be the right option for some people, this "Debt Consolidation" does little more than regroup your debt and may only slightly reduce your interest fees and charges. I highly recommend that you look for a "Debt Elimination" service. These systems work with you to explain many of the insider tricks and secrets that legal professionals use to completely erase your credit card debt after foreclosure. All of the systems I recommend utilize some type of debt elimination system. What About My Credit Rating? Many people are always concerned with how erasing their credit card debt after a foreclosure will impact their credit rating. While many programs advise you to just stop paying your debts and issue cease and desist letters to your creditors, the programs I recommend give you step by step advise on making sure that your credit card debt is erased cleanly with out impacting your credit rating. Be very wary of any debt elimination system that tells you to simply stop paying your debts. Delinquencies, judgments and other credit issues can stay on your credit report for up to seven years. Do I Need To Pay a Lawyer to Write Letters to My Creditors? No!!! If any system tells you that you need to pay them attorneys fees for writing letters, look somewhere else. Most of the letters you will need can be found in the top systems already prewritten by lawyers and ready to send to your creditors. Simply fill in the blanks and send them off. Remember that while you don't need an lawyer to write a letter for you, it is vital that you don't write the letter yourself no matter how good a writter you are. The credit laws are very specific, and while a properly written letter can enable you to erase your credit card debt after a foreclosure, a poorly written letter can make your troubles far worse. If you're serious about erasing your credit card debt after a foreclosure, the best systems we've found cost less than $50 and can eliminate tens of thousands of dollars. Best Wishes!
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