If all costumers would know that they can reduce their debt to almost 70% off the amount they own, the creditors would go crazy. The bad thing is that most costumers don’t inform themselves about different options they have and most of them choose the simplest one, which is bankruptcy. This option is not good at all because it can really damage your credit score and make it hard for you to recover in the future. You won’t be able to get any other loans, you won’t manage to heal your credit score, and your reputation will definitely go bad. The worst thing about bankruptcy is the fact that you risk losing your assets, because what most people don’t know is the fact that they can actually lose some of the assets on their name because the court wants to pay their debt somehow. People usually believe that by choosing bankruptcy they can liquidate their debt without any risk, but they are wrong and you can see how many disadvantages there are.A good alternative to bankruptcy is debt settlement, which reduces your debt and helps you pay it back without any stress or disadvantage. It works for people with big debt too, actually you have to be over ten thousand dollars of debt to be eligible for it. Another condition is the fact that the debt you own must be a personal loan, credit card debt or any other unsecured debt because it only works with that kind of debt. A few other requirements are: you have to hire a debt settlement company or any other legal representative, you need to meet with your creditor regularly for negotiations, and you need to decide how you are going to pay for the rest of the debt. It’s a pretty simple process and it doesn’t require a lot of stress and emotional trauma like bankruptcy.People who choose debt settlement are the people who make the right decisions for their future. They are the ones who really care about their debt and their financial future, and if you care too, you have to choose debt settlement. It’s not only the most popular option, but it’s also an excellent opportunity for anyone.