Debt problems

Hi!
Welcome to the forums! Bankruptcy is the legal process of getting out of debts. On the other hand, debt consolidation loan helps you combine all your existing debts into a single monthly payment. Bankruptcy is quite a costly affair. Moreover, it hurts your credit score by 200 points. So, it is better to not go for bankruptcy unless you have no other option left. You can get to know more about this from the following page:

http://www.debtconsolidationcare.com/personal-bankruptcy.html

Go through the link that Nelly has shown above. Also go through the following resource to know more about the debt consolidation program -
http://www.debtconsolidationcare.com/program.html
I'm sure you'll gain more knowledge on both this repayment processes.

Both bankruptcy and debt consolidation will help you in getting rid of your debts. However, financial advisers always suggest that bankruptcy should be the last option that one should consider in order to get rid of the debts. Bankruptcy helps the debtor to get rid of a part of his/her debts and may offer a repayment plan to pay back the debts under court supervision. The court puts an automatic stay on any legal actions taken by creditors for the non-payment of debt once you file bankruptcy.

A debt consolidation program, on the other hand, will help you manage and repay your debts. The consultant will handle creditor calls and negotiate with them on your behalf. You will have to send a monthly payment to the consolidation company and the company will distribute the payment amongst your borrowers. You should try out the option of debt consolidation before going for bankruptcy.

If you are able to come up with 25-30 percent of what you owe you could be out of debt within 6 months. I would call 866-833-6398 they can get you out of debt and stop the harassing phone calls.