Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.
If you've been met with financial difficulties, and you've decided to work with a debt consolidation company, you need to rethink that decision. While it might seem like debt consolidation is the way to go, it can actually cause you more stress and financial troubles in the long run. If you can't see any other way out of your debt, it's time to talk to an attorney about bankruptcy. Bankruptcy will erase your debts and leave you with a clean slate so you can begin to rebuild your financial stability.
No Creditor Agreements
When you work with a debt consolidation company, your consolidation counselor works to arrange lower payments or payoff amounts that are far less than the total amount owed. However, during the negotiation period, you stop making payments to your creditors and start sending payments to the debt consolidation company. Unfortunately, it's up to your creditors to decide whether they'll accept the lower payments or payoff amounts. If creditors don't agree to the new terms, you're left with the debt. However, when you file for bankruptcy, there are no creditor agreements to deal with. The bankruptcy court will take care of the details.
Faster Process Start to Finish
If you've decided to work with a debt consolidation company, you should know that the process can take quite while to finalize, especially if your creditors are difficult to negotiate with. First, the debt consolidation company begins taking your payments. Next, they negotiate with each individual creditor. Once one creditor is paid off, they enter into negotiations with the next creditor. During this time, your credit score continues to take a hit. However, once your bankruptcy case is approved by the courts, you can rebuilding your credit.
Your Income Can't be Garnished
One of the problems of going through a debt consolidation company, is that the debt collection process continues. That means, your debt collectors can continue with their attempts to collect on the money you owe – including going to court to obtain an order to garnish your wages. However, when you file for bankruptcy, all collection efforts must cease, which means no more harassing phone calls and no wage garnishments or law suits.
Receive Legal Assistance Through the Process
If you're going to work with a debt consolidation company, their first priority will be to make money off your financial burden. Unfortunately, you won't have anyone in your corner to help you through the process. However, when you file for bankruptcy, you'll have an attorney there to explain the process and make sure that your best interest is represented, every step of the way.
For more information, you will want to consult with a professional, such as Charles J Schneider PC.