Is Debt Settlement Right for Me?
North Texas Debt Relief Attorneys
At your free initial consultation, we will review all of your non-bankruptcy and bankruptcy options. That way you can decide which avenue is best for your family. Many people struggling financially consider a debt settlement plan. High promising debt consolidation companies often give the impression that a settlement or consolidation plan is an easy way out. However, many of the extremely negative consequences of persuing that avenue are not adequately explained to you.
By all means, in appropriate cases we do assist clients in an accommodation (better known as 'debt settlement'). However, we do not do so without informing our client of the negative consequences of taking that course of action (such as the impact on your credit and income tax liability).
Should I Work With a Debt Consolidation Company?
People who choose to work with debt consolidation companies to try to work out repayment plans often end up paying high costs for these services rather than putting their money towards paying off their debt. When an individual is in a vulnerable financial situation already, it could be risky for him or her to negotiate with a company that may or may not have his or her best interests in mind. If you hire us, there are no murky waters: You are our client.....not the banks.
The benefit of consulting with us is you will get experienced advice by a reputable financial attorney on all of your bankruptcy and non-bankruptcy options. That means you will be advised of all the credit, income tax, and financial repercussions of your decisions. In other words, it is pointless not to schedule a consultation with one of our attorneys. Contact us for a free meeting with a lawyer.
Is Bankruptcy a Better Option?
Unlike debt settlement plans where creditors have more strength, bankruptcy protects debtors. In Chapter 13 bankruptcy, the court will force your unsecured creditors to accept the bankruptcy plan even if you are paying them a small percentage or making absolutely no payments toward their actual claim. A private service has no such power.
For a free consultation to discuss your options for eliminating credit card debt, medical bills, and other debts, contact our law offices.
