Debt Consolidation vs. Bankruptcy – Which Is Better?
Debt consolidation and bankruptcy are both options for people who are struggling with debt. But which one is better?
There are pros and cons to both debt consolidation and bankruptcy. With debt consolidation, you can avoid bankruptcy and its negative effects on your credit score. But debt consolidation will not get rid of all your debt. And if you can't make the payments on your consolidated loan, you could end up in foreclosure.
Bankruptcy will stay on your credit report for seven to 10 years, but it will allow you to get rid of most or all of your debt. And if you have a low income, you may qualify for a Chapter 7 bankruptcy, which can be completed in as little as four months.
So, which is better? It depends on your individual situation.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling on the number 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706