Is working with a Debt Consolidation company the way to go?

"I’ve been thinking of working with a debt consolidation company to clean up my credit card debts."

STOP! As a former consumer bankruptcy attorney I can’t tell you how many clients I worked with who tried this route first. For the most part, debt consolidation companies are all hype and little success. What they do is collect money from you each month, take their fees off the top and your debts are hopefully given the rest. All the while, your debts continue to rise, your credit score continues to dwindle, and you are no better off than you were before you called the debt consolidation company in the first place.

A better alternative is to settle your debts one at a time either directly working with the creditor or working through an attorney who specializes in debt settlement. Now generally, these settlements are quicker and less costly to you as there is a lump sum offer made to the credit card companies.  A lawyer with debt settlement experience can work with the credit card companies to lower the original amount of the debt, lower the interest rate and get you out of the debt quickly, without resorting to bankruptcy or other solutions. People with one or two or even three high balances are better off settling those debts then going through the bankruptcy process, which can take more time and have longer lingering effects on your credit.

For more information about fighting a debt settlements in the greater Atlanta area, visit our website.

To schedule a FREE CONSULTATION with the Law Offices of Brandon Rosenbloom, call us at 678-609-8724 or contact us online today.