Unsecured debt & bankruptcy in the United States

Written By Minh Tong
Apr 20, 2018
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Unsecured debt has a direct correlation to bankruptcy and debt anxiety in the United States. Just this year alone the total amount of unsecured debt has increased to 1 trillion collectively (credit card debt increasing 2022). According to HuffingtonPost, some of the most common factors that cause bankruptcy are medical bills, job loss, student loans and divorce.

With the amount of debt increasing, consumers should start considering budgeting expenses and freeing up cash flow. However, for some it might be too late to take precautionary measures that should have been taken years ago. Once a person becomes completely dependent on credit cards to buy everyday things like groceries, gas or even bills, trying to put an effective plan in place can seem more like a fantasy than a reality.

In fact, according to research done by creditcards.com, “Credit card defaults, after a lengthy decline, are starting to tick up slightly.” Credit card delinquencies and defaults on the rise can foreshadow consumers considering bankruptcy in the United States. 

Bankruptcy has a long-term effect on your public record, between 7 to 10 years showing, which can cause problems for renting a piece of property, getting an auto loan, or even finding a job in some cases. If a person were to receive an inheritance, that could be seized as well. According to TheBankruptcySite, “If you receive an inheritance after filing for bankruptcy, it might become part of your bankruptcy estate.” Though bankruptcy may seem like the worst option, it is not the end of the world. Many people have needed a fresh start to continue their financial journey with more peace. Read on about debt relief for first responders.

We need to break the silence on the topic of debt and bankruptcy, debt collectors, and debt relief strategies, which most people feel embarrassed to ask about. If you have a large burden of debt and are considering bankruptcy, seek out a debt settlement attorney or an expert at Americor to guide you through this process and through debt relief options. Our caring staff will help you find your best option and walk with you every step of the way.

See our article on how to live a debt free lifestyle.

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Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

Americor Funding, LLC (18200 Von Karman Ave, 6th Floor Irvine, CA 92612) is fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). CA Department of Financial Protection and Innovation (DFPI) License # 603K913.

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