Debt consolidation may be the answer to your debt problems. While debt consolidation provides multiple benefits, it is important to first determine whether or not you qualify for it. In many scenarios, people have too much debt and cannot afford the monthly payments that come with debt consolidation.
Consider all the benefits and contact an experienced bankruptcy lawyer to assess whether or not you qualify for debt consolidation.
1. Protect your Reputation and Credit Rating
If you ever file for bankruptcy it will remain on public record. This information is can be easily viewed by anyone through PACER, an electronic subscription services, or any bankruptcy courthouse on a federal level. A bankruptcy lawyer will help you ensure your credit score does not lower very much, if at all.
2. Allow Access to Credit
As long as your debt consolidation agreement does not prohibit credit card access, debt consolidation means you can keep your credit cards in case there is ever an emergency. However, you will not benefit from debt consolidation if you continually use your credit card.
3. Make Debt Management Simple
Unlike bankruptcy, debt consolidation amalgamates the various payments you have to different creditors into one payment that is easy to budget.
4. Lower Interest Rate and Monthly Payments
Clients who want to consolidate their debt can receive one merged monthly payment of their bills. In addition, one monthly payment also means a lower interest rate, and in effect, more available money every month.
5. Learn How to Maintain your Budget
Debt consolidation is used for the purpose of helping clients eliminate their debt by reducing monthly payments and interest rates. Clients who do not learn to avoid use of their credit cards and accumulate new debt will not benefit from debt consolidation and should contact a professional to help them manage their budgets.
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Debt consolidation may not work for everyone and it is important to contact a professional bankruptcy attorney to help advise you on whether this is a viable option for you.
William D. Schroeder, Jr. Attorney at Law practices in debt negotiation, bankruptcy, mortgage modification, divorce, family law, DUI, wills, powers of attorney, estates, and criminal defense, providing legal services to individuals, families, and small businesses. Whether clients are looking for a bankruptcy attorney, a criminal defense attorney, or a family lawyer, William D. Schroeder is experienced in multiple legal areas. To learn about debt consolidation services, criminal defense services, or all the other legal services offered by William D. Schroeder, visit the website at https://www.jrlaw.org/ or contact:
William D. Schroeder, Jr. Attorney at Law
262A Bethlehem Pike, Suite 102
Colmar, PA, 18915
215.822.2728