Truth About Debt Consolidation Companies in Ohio | Law Offices of ...

If you are struggling to make minimum payments on your bills, you have probably thought about consolidating your debt so that you can make one payment each month that you can afford.? The only true debt consolidation is getting a personal loan from the bank to pay off all of your bills or by filing a Chapter 13 bankruptcy.? Filing a Chapter 13 bankruptcy will enable you to make a payment you can afford each month that is disbursed to your creditors to pay off your debt. Filing a Chapter 13 bankruptcy will give you protection under the Federal government unlike debt consolidation companies you hear about on television or the radio.? By filing a Chapter 13 bankruptcy, you may pay pennies on the dollar on your debts.? A Chapter 13 bankruptcy will stop a wage garnishment, foreclosure, sheriff sale, vehicle repossession, and utility disconnection.? You can even get your driver?s license back from suspension.

What you probably didn?t know is that the debt consolidation companies you see on television are not regulated.? Creditors don?t have to accept an offer made by a debt consolidation company and the creditor can file a lawsuit against you at any time to garnish your wages, seize funds from your bank accounts, and attach liens to property.? Some debt consolidation companies require you to make monthly payments to them while gathering your cash into a pool and calling the creditor to negotiate a lump sum settlement offer after stuffing their pockets with your monthly payments.? ?While this is going on, interest and late fees are accruing on your bills.? You could be getting ripped off each month and will never know it until you are served a lawsuit or wonder where your money has gone years later.? There are no guarantees unless you file a bankruptcy which would give you protection under Federal law.

An experienced Columbus Ohio Bankruptcy Attorney can determine your eligibility for filing bankruptcy and can help you explore other avenues if bankruptcy is not the best option for you. Legal counsel will ensure that your rights are protected and that someone is looking out for your best interest. The friendly Law Office of M. Sean Cydrus can help you craft a plan to rebuild your financial future. We understand the stress of financial worry. We use a personal approach to solving your financial challenges and are here to help you through this difficult time. We pride ourselves on the ability to provide our legal expertise with compassion and understanding. We can meet with you at our conveniently located offices in Columbus and Chillicothe. Call today for a free consultation. Help is one phone call away!

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