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Genus Credit Management / American Financial Solutions (AFS) is a not-for-profit credit counseling organization that tenders hush-hush and qualified credit psychoanalysis, debt management and financial enlightening curriculum to consumers countrywide. Genus is devoted to providing counseling services that lend a hand to monetarily distraught families and individuals in point of fact manage their personal finances.

The genus debt Management Program is a gratis tune-up sustained by voluntary contributions from their clients and their creditors. They offer their services to consumers nationwide who are incident financial hardship. The plan suggests people a way to pay off unsecured debt by uniting their debts into one monthly payment. When a client registers formally in a debt management plan, most creditors proffer their clients benefits such as lower APRs and so on. These benefits repeatedly help subordinate monthly payments and put more of the payment toward paying off the standard.

Genus clients have had their programs supervised by American Financial Solutions (AFS) right from the year 2001. The AFS-Genus state-of-the-art infrastructure guarantees consumers fast, trustworthy, exact, and off the record service. On average, AFS-Genus clients are able to completely pay off their debts within 48 to 60 months. They counsel their clients on an on-going basis while they manage their clients bill payment.

The genus debt Company is uniquely to be found to help both the client and their creditors by allocating the twofold role of helping customers pay off their debts and supplementary creditors in being paid amounts owed. They are supported by voluntary contributions from their clients and their creditors. All contributions are charitable and all callers receive the same level of service not considering of whether they can or want to make a contribution.


Works straightforwardly with creditors to get hold of remuneration such as reduced interest and relinquish late fees, which could lower an individuals monthly payments by as much as 50 percent.

Administer the debt to guarantee the earliest promising payoff.

Consolidates monthly payments into one reasonably priced amount.

Equivalents timing of bill due dates with the individuals pay dates.

Commence evenness and obedience to the reimbursement plan using Genus exclusive Easy Pay system. This persuades creditors to return accounts into current status, thereby serving individuals renovate their own credit.

Circularizes monthly newsletters and other enlightening materials that help keep individuals alongside each other of personal financial and debt management topics

Is Bankruptcy a Solution

The Bankruptcy Act of 1978 is the foundation for the law as it at present stands, contribution a fresh start when necessary.

While bankruptcy laws carry on helping those who truly necessitate assistance, many individuals today erroneously view bankruptcy as a speedy fix to their financial troubles. For community who are behind on credit card payments, bankruptcy has become an all the time more common demand.

It is, on the other hand, the court of last alternative since individuals who say publicly bankruptcy face much complicatedness ahead of them. Consumers in credit card debt generally seek two forms of bankruptcy relief: Chapter 13 and Chapter 7.

Chapter 13 bankruptcies are debtor-rehabilitation procedures in which the court authorizes a reimbursement plan considered for the consumer to repay as much of the debt as possible.

Chapter 7 bankruptcies are straight bankruptcy plans considered to without delay close a business debtor's assets. All property, excluding that which a petitioner is permissible to keep, is turned over to a bankruptcy trustee who gives out the debtor's funds to creditors in an effort to reimburse part of the debts that are owed.

Because all permissible debts are discharged, many individuals prefer to file Chapter 7 when it become visible unlikely they will be able to pay off their debts. However, they are not off the hook from such debts as student loans, child support, alimony, income taxes, and fines. Petitioners of Chapter 7 bankruptcy cannot sleeve similarly for at least six years.

Effects of Bankruptcy

Is a serious blotch to a persons credit history and will shock a consumer's capability to take delivery of future credit Vestiges on an individual's credit report for10 full years, which can outcome in involvedness getting a job and housing, and loans and obtaining a car

Consequences in higher APRs and additional fees on most new credit

Does not emancipates or absolve debts such as some student loans; maintenance and child support; and local taxes; certain federal, state, or theft; fines and penalties debts from fraud, larceny, for any violations of the law; and debts not listed on bankruptcy papers luxury goods or services purchased within 60 days of filing;

Is a observe of public record that will possibly be seen by potential employers, indemnity companies, mortgage businesses, and other lenders

Alternatives to Bankruptcy

Several options continue living for individuals who are in debt and do not aspire to declare bankruptcy. These include:

Pronouncing additional income Diminishing expenses Earning extra income and declining expenses Obtaining a debt-consolidation loan and concluding all existing credit lines Working directly with creditors and assembling agreeable terms Initiating a debt management program with a credit counseling agency

Is Bankruptcy Right for you

Before making a choice concerning bankruptcy, it is intelligent to congregate all the facts. Explore all the above mentioned potentialities and understand the benefits and harms of each. A specialized nonprofit credit counseling organization can assist you get a clearer picture of your state of affairs by contributing a free financial assessment.

A credit counselor can offer you with the alternative of registering in a debt management plan, which makes available immediate respite and allows repayment of debts without the high fees and negative consequences of bankruptcy. Some credit counseling agencies offer the convenience and discretion of working with you right over the telephone--24 hours a day. This procedure allows you to get the particulars you need in order to make your mind up your situation as speedily as possible.

Contacting a trustworthy credit counseling association and getting a free financial evaluation is an important first step in making an informed decision about your finances. There is no obligation to register in a Debt Management Program. Similarly, be aware that you are under no commitment if you speak to a liquidation attorney regarding your financial situation.

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