Remove Chapter 13 bankruptcy Remove Consolidate Debt Remove Garnishment Remove Student Loans
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Debt Consolidation vs Bankruptcy: Which is Better?

Sawin & Shea

If you are uncertain about your options, speaking with a financial advisor or an experienced bankruptcy attorney can help. Understanding Debt Consolidation Debt consolidation is the process of taking out a brand-new loan and using the money to pay off other loans or debts.

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Is It Better To Declare Bankruptcy or Debt Consolidation?

Sawin & Shea

The remaining qualifying debts are discharged, meaning you are no longer responsible for paying them back. Chapter 13 bankruptcy sets up a 3-5 year repayment plan to pay back a portion of what you owe. At the end of the plan, any unpaid balances on the qualifying debts are discharged.