Debt Consolidation v. Bankruptcy
Debt consolidation involves reorganzing all of your individual debt payments into one "manageable" payment. However, throughout my many years of experience as a bankruptcy attorney I have encountered several problems with debt consolidation. 1. Continued Contact from Creditors Proponents of debt consolidation often mention privacy as one of the biggest draws to entering into a debt consolidation. However, the price for privacy may be high. Depending on the type of debt con