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Debt is a burden many people are currently facing, and it’s neither desirable nor pleasant to be in such a predicament. Fortunately, there are realistic and achievable solutions to help individuals eliminate their debt. If you’re finding it more and more di

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

fficult to pay your monthly bills and you’re bouncing checks or borrowing from one credit card to pay another, it’s time to take a serious look at these solutions.

Consumer Credit Counseling – Perhaps you’ve heard of,

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

or even considered consumer credit counseling in order to get your finances under control. Consumer credit counseling agencies are usually classified as “non-profit” firms, and assist debtors in planning budgets to repay their debts. A maj

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

r criticism of consumer credit counseling agencies is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Obviously, this leaves the average consumer

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

eft to wonder whether or not the agency they’ve chosen is actually working for them or their creditors. Nonetheless, consumer credit counseling may be a safe route for you if you can realistically commit to a long term re-payment schedule. If

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ou should decide you’d like to enroll in a consumer credit counseling program, it’s best to choose an agency about which you’ve heard good reviews. Don’t be afraid to ask friends and family if they may be able to refer you –

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

you’ll be surprised by how many people have found themselves in this same predicament.

Debt Consolidation – Debt consolidation involves obtaining a loan to combine several loans and credit card debts into one loan. Pu

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

another way, debt consolidation is the process of taking out a new loan to pay off a number of other debts. Most people who consolidate their debt are usually doing so to attain a lower interest rate, or the simplicity of a single loan. This is a common

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

solution for individuals with credit problems (maxed-out credit cards, car loans, student loans, etc.), who combine all their debts into one loan to create greater ease in repayment. In the case of credit card debt, this can often be advantageous si

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ce credit cards generally carry a high interest rate. Normally people seeking to consolidate their debt are required to have a sufficient amount of equity in their homes, which is used as collateral. Be very cautious when considering this option, as 85%

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

f individuals who have gone this route have once again maxed out their credit cards within 24 months of obtaining a debt consolidation loan, and now owe twice as much money as they did prior to consolidating their debt. Still, debt consolidation can

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

be very helpful to individuals who can follow through with their commitment to continuously make their monthly loan payments, and have demonstrated enough self control to not use credit cards for frivolous purchases.

Debt Settlem

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

nt – Debt settlement (debt negotiation) is a practice which involves negotiating with your creditors and ultimately reaching a mutually agreeable settlement, which is typically 50% or less of the total amount of debt you owe. In other word

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

, if you owe a creditor $10,000, you may be able to reach a settlement in the amount of $3,000 - $5,000, with no further balance owed to that particular creditor. Many creditors will agree to accept the agreed upon settlement amount over a period of

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

3-12 installments if sufficient funds aren’t available for a lump sum payment. In order to qualify for debt settlement, your accounts must be delinquent, and of course you must be able to forward the settlement funds to your creditor prior to the

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

deadline, otherwise the settlement agreement will become null and void. Debt settlement is a good option for people who simply can no longer afford their monthly payments, and prefer to eliminate their debt within 3-24 months.

Bankrup

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

cy – As you may know, bankruptcy is really the “last resort” for most people. This is due to the fact that individuals who file bankruptcy are faced with the bankruptcy filing being made a matter of public record, as well as a

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

egative credit rating for a period of 7-10 years. However, some people have no choice and must simply file for bankruptcy. If your bills are unmanageable and it’s impossible for you to commit to a long term payment arrangement, or even obtain suffi

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ient funds for debt settlement, this may be your only option. That’s okay, too – the bankruptcy law was originated for a reason; if you need it, use it. Fortunately, there are many attorneys who will offer you a free initial consultation to h

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

lp you determine if this is your best path.I highly recommend that you consider all of your options, and approach each of those with an open mind. What matters most is that you successfully eliminate your debt, and start living again. I wish you the best

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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