Sometimes people lose control of their debt, but that does not mean they are financially irresponsible. In some cases, people are hit with unexpected expenses that they were not prepared for like medical bills, accidents, or a sudden death in the family. For some people, debt consolidation may be what they need to gain control over their finances again.
Have you or someone you know been hit with unexpected expenses? If so, our bankruptcy law attorneys can help you get your debt in control through debt consolidation. Contact a bankruptcy lawyer in your area today to get started.
Benefits of debt consolidation:
Debt consolidation is a method of taking your existing debt and combining them into one monthly payment. This eliminates the need to try to make minimum payments to multiple companies. You may also be able to get the late fees, the overdraft fees, and the mounting interest halted while you are repaying the debt under debt consolidation. For some people, this may be the only alternative to filing bankruptcy.
An added bonus to debt consolidation plans is that there is a foreseeable end to the debt. As long as you do not incur additional debt, once the debt consolidation plan is paid off, you are debt free. Debt consolidation may include credit cards, medical bills, back-owed taxes, and student loans. You may not be able to include a mortgage in debt consolidation. A bankruptcy law attorney may be able to help you through the debt consolidation process, which may be more feasible than a debt consolidation loan. For someone with financial problems, you may have trouble getting approved for a debt consolidation loan.
If you or someone you know has been struggle to keep up with a number of different creditors, our bankruptcy law attorneys can show you how a debt consolidation loan may help. Contact a bankruptcy lawyer in your area today to get started.
Did you know?
You may be able to eliminate interest rates by choosing a debt consolidation plan.
When you pursue debt consolidation, your bankruptcy law attorney will contact your creditors and negotiate with them the best situation possible.