Relief Options

Debt Management

This program follows a pre-agreed payment plan to your creditors and works to reduce the interest rates owed on your cards. Under this relief option, the principle balance is owed and only works as long as the interest rates can be lower than what you're currently paying.

Debt Consolidation Loan

Generally a person will seek a consolidation loan in an attempt to pay off their credit cards and transition to just one monthly payment to one creditor. This option can generally cost more to the consumer because they've paid their current debt in full and have opted for a high interest rate loan for very little gain.

Debt Settlement

This relief option typically benefits individuals and families that are making their minimum monthly payments yet not seeing their balances go down. Under this program, clients do not pay the full principal balance of debt and save to pay a reduced, negotiated balance of their accounts.

Bankruptcy

Consumers have the option to file different chapters of bankruptcy depending on their financial situation. If approved by the federal government, it could be an option to explore but sometimes it could be difficult to qualify. We recommend exploring other debt relief options listed above and seeking the advice of a bankruptcy attorney as a last resort if you are not eligible for other relief programs.

Copyright © 2022 Stonebrook Financial - All Rights Reserved. Disclaimers: The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the web-site is accurate and complete at the date first published, however you should recognize that information contained on this web-site may become out of date over time. We do not provide debt relief services. We match you, the consumer, with qualified and professional services such as attorneys, law firms, document preparation services and consultants which we may receive compensation from. Please visit our advertising disclosures for additional information. The hiring of a debt relief service is an important decision and should not be based solely on advertisements. The retention of a client is subject to review and qualification by the debt relief service. By submitting your info you agree to be contacted by our partner service providers via phone and / or email. Each partner will provide a proposal for their services & may charge a fee. Initial review is at no charge. Results vary based on ability to save funds, complete all program terms & willingness of creditors to renegotiate. Our partners do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. It is your sole responsibility to read and understand all program agreements & disclosures provided directly by our partners prior to accepting. Not available in all states.

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