With a debt resolution program your debts will be combined with one monthly program payment but your debts are negotiated for less than what you owe. The average settlement ranges between 40-60% debt reduction on completed settlements. In most cases, you may complete the program within 12 to 48 months. Once a settlement has been completed on your behalf, you will no longer owe the debt and your credit report will reflect a zero balance.
Bankruptcy should be your last resort. Depending on which type of Bankruptcy is filed, you may still have to repay your debt and a monthly payment may be established. Bankruptcy is public record and will appear on your credit report for a number of years. In some cases, Debt Resolution may be a better alternative than Bankruptcy!