logo

Thursday 19th of October 2017

Are Debt Consolidation Loans An Alternative To Bankruptcy? PDF Print Email
Finance - Debt Consolidation
Written by: Andrew   
Saturday, 23 May 2009 14:08
When you think about debt consolidation, what do you think of first? Which aspects of debt consolidation are important, which are essential, and which ones can you take or leave? You be the judge.


When you think about debt consolidation, what do you think of first? Which aspects of debt consolidation are important, which are essential, and which ones can you take or leave? You be the judge.

Debt collection agencies are hired to do one thing - collect debt. Often, they receive a commission or purchase your account at a lesser value than you owe. Debt collection is somewhat of an art form, and not every employee may be up to the task.

If you can not handle monthly payments anymore, and want to get a fresh start for your financial life, then nothing could be better than opting for debt consolidation loans. More and more individuals are now looking at different alternatives for managing debts. Large number of debt consolidation options are coming up to get consumers free from the excessive burden of payment. The solution providers help debtors in assessing their individual situation and recommend them on how to get out of these unfavorable circumstances.

Accounts are easily reviewed and updated. Accounts receivables that have been delinquent for a substantial amount of time, 180 days or more, are often purchased by collection agencies, in which case, the agency keeps any cash that it recovers.

How can you put a limit on learning more? The next section may contain that one little bit of wisdom that changes everything.

Laws in other states may vary. Overall, our fact sheets are applicable to consumers nationwide. Lawyers don't take cases on retainer unless they can make money. If you find a qualified lawyer to handle your case, a lawsuit will take months, even years to settle.

Consumers also complain that debt collectors speak to them in a hostile, insulting or degrading manner, or make various improper threats. It is unlawful for debt collectors to threaten that failure to pay a debt may result in arrest or other criminal sanctions. Consumer complaints may be filed online .

Creditors cannot use "self-help" like an automobile lender, or foreclose like a mortgage lender. In a worst case scenario, a credit card lender has to file a lawsuit against you, win a judgment, and turn that judgment into a wage garnishment or bank account levy - a process that takes time and money.

Sometimes it's tough to sort out all the details related to this subject, but I'm positive you'll have no trouble making sense of the information presented above.

About the Author:

 
SEO by Artio

Watch In Your Language

English French German Italian Portuguese Russian Spanish

Who's Online

We have 80 guests online

Powered by Joomla!. Designed by: Free Joomla Theme, YourSite review. Valid XHTML and CSS.