Consolidation Versus Bankruptcy
Are You Trying to Choose Between Debt Consolidation and Bankruptcy?
Debt consolidation, despite having been widely criticized for rarely providing the kind of service and results they so frequently advertise, is still a big business that promises to help people pay less per month and lower their interest rates. While it is a regulated industry in Texas, it is also subsidized by the credit card industry and rarely provides a long term solution.
At the Houston bankruptcy law office of Acosta Law, we have helped countless people in Harris County who were promised one result from a debt consolidation company only to receive something far less effective. With more than 15,000 clients served since 1996, we are focused on providing real solutions to help you take back control of your financial future and get out from under overwhelming financial problems.
Get the Information on All Your Options
Our founding attorney understands the financial struggles that face consumers from all walks of life in a tough economy, and we know that the decision to talk to a bankruptcy lawyer can be a difficult one. The reality is that the credit card companies that support debt consolidation organizations don't want you talking to bankruptcy law firms either, because they know that often an experienced lawyer can do far more than consolidation.
Before you commit yourself to debt consolidation, it is important to know the potential downsides, such as:
- Hidden fees
- Creditors are not required to negotiate lower rates or payments.
- Consolidation may not be able to negotiate the best solution.
- There are consolidation scams that may do far more harm than good.
- Consolidation plans are not enforced by federal law.
At best, you may end up with a single payment at a slightly lower interest rate through debt consolidation, and even then that may be a temporary solution. By considering your options through Chapter 7 or Chapter 13 bankruptcy, you work with a professional whose legal obligation is to get the best deal possible for you. We can address a full range of financial challenges, including credit card debt, medical debt, garnishments, creditor harassment, taxes and foreclosures.
At the end of the process, when you work with our Houston law firm, your plan is protected and enforced by the power of federal law and the bankruptcy courts.
Putting Control Over the Future Back in Your Hands
In many ways, even through debt consolidation your payments, your debt and your future are still controlled by creditors. Bankruptcy protection allows you to take charge of your financial situation and in many cases eliminate large portions of debt.
It costs you nothing to talk to our professionals and find out all your options. Contact Acosta Law online or by phone at 713-980-9014.