Orlando Bankruptcy and Debt Counseling Attorneys
If you have debt due to loans, high credit card bills or missed payments, you may have considered debt consolidation or other bankruptcy alternatives.
Before you decide on a long-term, not-for-profit debt consolidation or a second mortgage, please call us for a free telephone consultation. Bankruptcy Law Group, P.A. will give you the facts you need to make an informed decision for yourself and for your family.
Call (800) 492-4352, Orlando Office (407) 347-6656, Tampa Office (813) 489-5109 or e-mail our office for straight answers to your debt consolidation and bankruptcy questions.
Why Debt Consolidation Doesn't Work
Debt consolidation organizations work for creditors, not those who owe money. Debt consolidation is unregulated, while bankruptcy is regulated. That means you are protected from your creditors once you file bankruptcy. Debt consolidators' jobs are to collect money for creditors — your creditors. They get a small percentage of each bill you pay as their payment.
Most debt reorganization companies only negotiate debt with creditors they have an arrangement with. Not all your debt may even be consolidated. If you miss one payment, you can end up in even deeper debt and lose what you had gained. This is the downside of debt consolidation.
Bankruptcy alternatives appeal to many people because there is a perceived stigma attached to bankruptcy. However, most people filing bankruptcy are wage earners who have accumulated a large debt.
We Make Bankruptcy Work for You
A Chapter 13 bankruptcy reorganizes debt just as a debt consolidation company does, with a few key differences. One of our experienced debt relief lawyers will carefully review your financial situation to discern how much you owe and how much you can pay, based on your income. We then help you develop a realistic plan for debt repayment that takes place over the course of three to five years.
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