More Americans are swimming in debt than ever before because of the struggling economy and a high national unemployment rate. Because of the increase in financial problems, there is also an increase in the demand for debt consolidation loans and the services of debt consolidation companies. The question is: should you be turning to these companies for help or is debt consolidation something you can tackle on your own?
Tag: debt consolidation loans
You don’t need to hire a lawyer to file bankruptcy, but keep in mind that just because you file for bankruptcy protection doesn’t guarantee that a judge will ultimately accept your request. Following these essential steps can help prevent a bankruptcy judge from rejecting your case.
Chapter 7 bankruptcy can help end your financial nightmare, but also can bring new problems of its own once a judge finalizes your request. Learn how to start rebuilding your credit score right away so you don’t have to spend the next 10 years simply waiting for that dreaded bankruptcy notation to fall off of your credit reports.
Many consumers lose control of their finances. Some are able to get themselves out of debt and regain control. Others turn to professional help in the form of credit counseling. But credit counseling isn’t always the appropriate choice. If you’re having trouble with debt, it’s time to uncover the myths and truths about working with a credit counseling agency to see if it’s the right solution for you.
If you’ve made the decision to get control of (and possibly get rid of) your debt, congratulations! Taking an honest look at your debt obligations isn’t easy. Neither is it easy to develop an effective repayment plan. Over the last several years, two types of companies have emerged – both aimed at helping consumers manage and eliminate debt. Many people assume that “debt consolidation” and “credit counseling” are essentially one and the same, but they offer very different services and may not be right for everyone.
The economic and housing downturns have left many families without savings and home equity, and some even without jobs. If you’ve fallen behind on payments or simply want to get out of debt fast, you may be considering debt consolidation. It can be a good solution, but it isn’t for everyone. When researching the debt consolidation option, consider the following.