How Does Debt Settlement And Consolidation Work?

Many American citizens continue to find themselves falling deeper and deeper into debt. A reduced income due to a lost job or other cause forces many people to live off of credit cards just to make ends meet. Although this quick fix may work for awhile, eventually making just the minimum payment each month leads to a growing balance that seems impossible to conquer. Debt computer

The temptation exists to turn to debt settlement and debt consolidation companies who promise relief options that seem too good to be true. Therein lies the problem. Statements made by these companies are, in fact, too good to be true. They prey on the vulnerability of those struggling to survive, padding their corporate pockets with hefty prepaid fees when they may or may not be able to reduce a consumer's debt.

Call me for a free consultation to get your questions answered at 215-322-2745.

A Lawyer Who Understands

I am bankruptcy and debt consolidation attorney Joshua Z. Goldblum. For more than 30 years, I have worked with people in Pennsylvania who have fallen victim to the false promises of debt settlement companies. Many of the people who come to me after dealing with a debt settlement program are in worse financial shape than they would have been had they foregone debt consolidation and moved directly toward filing for bankruptcy.

If your trust has been violated by a debt settlement company and you have found yourself deeper in debt than ever before, do not be embarrassed. I am here to help. I recognize how easy it is to believe someone has the "be-all, end-all" answer to your financial problems.

Although I will not promise you a miracle debt relief solution, I will guarantee you nonjudgmental representation of your interests should you decide filing for bankruptcy is now your best option. Contact me to discuss how you can move beyond the mistakes of the past and create a fresh financial start.

Eliminating Or Repaying Debt Is Possible Through Bankruptcy

Based on your particular situation, bankruptcy can allow you to eliminate or repay your debts. Liberal bankruptcy exemption provisions will allow you to retain your house and other valuable assets.

Chapter 13 bankruptcy is different from Chapter 7. Under Chapter 13, you will work to establish a court-approved payment plan to repay a portion of your debts during a three-to-five-year period. Chapter 13 bankruptcy provides a mechanism to cure any default you may have in your mortgage. Once you have successfully completed your payment plan, most of your remaining debts will be discharged.

How Bankruptcy Affects Your Credit Score

Many people shy away from the idea of filing bankruptcy because they believe it will ruin their credit rating. In most cases, those with overwhelming debt already have problems with their credit score. Filing for bankruptcy can offer an opportunity for rebuilding a solid financial future.

Make Your Appointment Now

Contact Joshua Z. Goldblum, Attorney at Law, today to discuss whether bankruptcy is the right option for you. Call my Feasterville office at 215-322-2745. You can also email me to schedule your free initial consultation. For more information about unfair debt settlement practices, please read the article "The New Poor: Peddling Relief, Firms Put Debtors in Deeper Hole."

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code in Philadelphia as well as the surrounding counties.