Remove Collateral Remove Debt Consolidation Remove Foreclosure Remove Repossession
article thumbnail

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. Equity loans put your home at risk as collateral.

article thumbnail

Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

The means test decides who can seek debt relief. Short foreclosure protection – When your home is faced with foreclosure, the automatic stay is not in effect indefinitely. Co-signing a loan carries a risk – Anyone who co-signs a loan may be obligated to repay the debt on your behalf. The Majority of Unsecured Debts.