Is debt consolidation legal?

Date: Thu, 08/03/2017 - 06:06

Submitted by Harry Williams on Thu, 08/03/2017 - 06:06

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I have multiple debts to pay off. I’ve heard that consolidation can be a suitable option. However, is it a legal option to repay debts? Can a debt consolidation program help if a creditor has filed a lawsuit?

Total Replies: 4

Ofcourse debt consolidation

Ofcourse debt consolidation is a legal option.
And about your second query - It'll depend on the creditor or the debt collector. if your credit counseling agency negotiate well with them, they might withdraw the lawsuit.

Submitted by Barbara Delinsky on Thu, 08/03/2017 - 07:15

Barbara Delinsky

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Yes. It's a legal debt relief

Yes. It's a legal debt relief option. Only bankruptcy can help you in this situation since it imposes automatic stay. How much debt do you have?

Submitted by ditchdebt on Fri, 08/04/2017 - 00:45

ditchdebt

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It is a legal debt relief

It is a legal debt relief option provided you follow the right steps.

Submitted by Mabelle Page on Fri, 08/04/2017 - 05:27

Mabelle Page

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Yes, debt consolidation is

Yes, debt consolidation is legal. If the creditors agree to consolidate the debts out of court, they may cancel the lawsuit against you. If they don't agree, you can't consolidate your debts. The debt will be paid through the wage garnishment or lien.

Submitted by Sanders Patricia on Fri, 08/04/2017 - 05:02

Sanders Patricia

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