Are you stuck in mounting credit card debt or insurmountable medical bills? If so, you may be able to pursue debt consolidation as an alternative to bankruptcy. This option may allow you to regain control over your debt through a more affordable loan. Though not for everyone, debt consolidation can be a valuable path to financial freedom.
No matter the type or extent of financial struggle you are facing, it is critical to consult with an experienced debt relief attorney about the details of your situation.
I am attorney Christopher P. Walker, an experienced bankruptcy attorney in Anaheim, California. If you are buried in debt, it is important to know that you have options. I can walk you through all available debt relief options and provide tailored legal counsel to help you achieve financial stability. Contact me today for a free initial consultation.
Debt consolidation is a type of loan typically provided by a consumer credit service. Instead of struggling to make payments to your credit card or original lender, when you pursue debt consolidation, the credit service will negotiate with your lenders and pay off the debt you owe. You, in turn, will make monthly payments to the credit service.
Generally, debt consolidation results in a more favorable interest rate and more affordable monthly payments. In some cases, you may even be able to obtain a reduction on the total amount you owe.
For some people, debt consolidation is a better option than consumer bankruptcy. It can allow you to regain control over your debt in a single, manageable monthly payment. Although debt consolidation can still affect your credit score, the impact will be far less detrimental than filing bankruptcy.
Debt consolidation can have downsides. As with debt settlement, you will owe taxes on the amount of any debt that is forgiven. For some, the tax burden alone can be prohibitive.
To learn more about debt consolidation versus bankruptcy, call the Law Office of Christopher P. Walker, P.C., at 714-639-1990. I offer affordable fees as well as evening appointments.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.