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Debt Consolidation vs Bankruptcy: Which is Better?

Sawin & Shea

Being overwhelmed by debt is a stressful situation that can make it challenging to decide on the best path forward. Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debt consolidation. The issue with these programs is that they are voluntary.

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Managing Bankruptcy and Medical Debt Relief in Broomfield, CO

Debt Free Colorado

Learn to Eliminate Medical Debts Through Bankruptcy Bankruptcy and medical debt relief have become buzzwords for those with financial problems due to unexpected health issues. It’s important to understand that having medical debt does not reflect personal failure. Bankruptcy can discharge medical bills.

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

Chapter 13 bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter 13 bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter 13 Bankruptcy Filing?

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Is It Better To Declare Bankruptcy or Debt Consolidation?

Sawin & Shea

When you are overwhelmed by debt, you may start to wonder if declaring bankruptcy or pursuing debt consolidation is the better option. Understanding the key aspects of each can help you determine what is better, bankruptcy or debt consolidation, for your situation.

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How to Get Out of Debt: 13 Expert-Backed Steps for Success

Credit Corp

Consider Bankruptcy as a Last Resort. The thought of filing for bankruptcy might seem scary. If your debt load is so large that you cannot make a dent in it, even after aggressive budgeting, then bankruptcy may provide a way for you to eliminate it and get a fresh start,” said bankruptcy attorney Thomas C.

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Debt Consolidation vs. Bankruptcy

Credit Corp

Debt consolidation combines multiple debts into one and can help your credit score. Bankruptcy can reduce your total debt at the cost of ruining your credit. Debt consolidation and bankruptcy are two options for debt relief that have distinct advantages and drawbacks. What Is Bankruptcy?

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Credit Card Debt Forgiveness: What You Need to Know

Credit Corp

Debt relief may not be the best approach if you want to preserve your credit scores , but if you’re already behind on your credit cards, there’s no additional penalty for signing up. File for Bankruptcy Bankruptcy is a legal process that allows you to eliminate some or all of your debts.