Debt Consolidation

Debt consolidation is an alternative to bankruptcy that may work for some people. Through this process, all of your debts are brought together into one consolidated monthly payment, often at a lower interest rate than you are paying on some of your individual debts. A consolidation frees you from the hassle and harassment of dealing with multiple creditors and bill collectors. And only having one single, manageable payment can help you get your finances back on track and stick to a realistic household budget. We can negotiate on your behalf with your creditors to accept a reasonable consolidation plan that works to everybody's benefit and avoids a bankruptcy filing.

A debt consolidation should only be entered into after a full discussion of your options with your attorney. Be careful about trading in unsecured debt for secured debt, or debts that don't charge interest for a debt that does, or making decisions which could impair your ability to later file for bankruptcy should you need to. Although bankruptcy may have some temporary negative effects on your credit score, it may still be the best option overall.

The Right Help at the Right Time

One thing you can be sure of when you contact our office is that we will discuss all of your options with you and help you decide which choice is best for you, whether it be bankruptcy, debt consolidation, or some other form of debt settlement or debt relief. Let us help you find the best solution for your financial needs. Contact Kathryn T. Bergeron, Attorney & Counselor at Law, for a free consultation.