Bankruptcy
Alternatives
I'm
not a big fan of credit counseling services, and I'll tell you why.
Many of my clients end up coming to me for a bankruptcy after struggling
for months - or even years - to make monthly payments to a credit
counseling service.
For those
clients, that money could have stayed in their pockets after a
Chapter 7 filing, but for some reason they felt obligated to try
a debt consolidation plan outside of bankruptcy.
|
Ultimately,
Mastercard and Visa got much of my clients' hard-earned money while
my clients ended up with a bankruptcy anyway.
If you're a candidate for a good non-bankruptcy alternative, I promise
that I'll tell you. Even though I make my living filing bankruptcy
cases for clients, I don't want you as a client if you have better
options. But in 99% of delinquent accounts, your creditors such
as Mastercard and Visa aren't the least bit interested in negotiating
with you. |
They
won't lower your balance, and they usually won't waive finance charges
or lower your interest rate. And do you know those non-profit organizations
you've been hearing about on TV and radio lately? The ones who advertise
that they can help get you out of your mess? Guess who got together
and formed many of those organizations? The banks that issue credit
cards! Don't be suckered - pick the debt solution that has the best
long-term prospects for your full financial recovery. |
