consolidated loan
Date: Thu, 05/20/2010 - 14:23
is getting a consolidated loan to pay off my debt considered filing bankruptcy?
Bankruptcy is a court proceeding whereby you either have your de
Bankruptcy is a court proceeding whereby you either have your debts "discharged" by the bankrupcty courts, meaning you owe nothing (Chapter 7) or a wage earner plan (Chapter 13) where you pay some or part of your debt back thru the courts.
A consolidation loan is borrowing money thru a financial institution to pay off existing debts. You make monthly payments and the courts are not involved.
