The best way to do this is to take out a loan to
clear all debts completely in one go.
The advantage of consolidation loans for military personnel is that is allows them to
clear their debts completely, without prompting the negative effects that come with bankruptcy.
And for homeowners, equity is usually enough to secure a substantial loan with which to
clear debts completely.
The goal is to arrive at a settlement amount that will
clear the debt completely for an amount that is less than the dollar figure owed on the account.
The credit score is dependent on meeting repayments on time, and
clearing a debt completely results in the score being increased.
Not exact matches
However,
clearing existing
debts in one go makes a hugely positive impact on it — though it is important to realize that consolidation results in the
debt being replaced rather than removed
completely.
The monthly payments made in favor of the new credit card goes
completely in
clearing of the
debt amount, which makes it easy to
clear it sooner.
For homeowners, the value can be enough to secure a very large loan, perhaps even $ 150,000, making it possible to
clear existing
debts completely.
Clear Title: The title or deed to a particular property that is
completely free of all
debts, liens, and encumbrances.
Some of us, like myself, want to get
completely cleared from
debt so that we can 1) survive in todays economy, 2) have some kind of hope for retirement and 3) we don't make enough money nor have a down payment for a bigger mortgage.
In my opinion, if an employer is worried about your
debt and how that might affect your job performance (or possibly your willingness to steal), the fact that you filed bankruptcy helps or
completely clears up the situation to be worried about in the first place.
The
debt service will be paid by the renters and therefore I hold the property
completely free and
clear after 5 years and enjoy very large rental returns.