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Bankruptcy FAQ

Be wary of debt consolidation scams

On Behalf of | Nov 10, 2017 | Personal Bankruptcy

Carrying debt will do funny things to your mind. People who would normally make calm, rational decisions starting making rash choices in an effort to eliminate the debt from their lives. Many people are like this, and they don’t deserve ridicule for it because debt truly is a powerful, stressful force on a person’s life. It is why you see so many television ads and hear so many radio ads by payday loan companies and debt consolidation businesses. These companies prey on the anxiety of people who are in debt.

They sell them a quick fix, one that on the surface may seem like a good deal at the time, but as time goes on that deal gets worse and worse. Eventually, it isn’t a fix at all. The money they were loaned or the debt they somehow consolidated explodes into even worse debt.

Debt consolidation scams and schemes are out there in great numbers, and for those that are struggling with serious debt, you should resist the urge to utilize these methods. Instead, a far better strategy is to discuss your specific case with an experienced attorney to make sure that you are going about your financial recovery in a proper way.

The lawyers at McBride Law Firm can help you better manage your debt by explaining the bankruptcy process to you and helping you along the way. Don’t let the empty promises of debt consolidation companies ruin you. Talk with an experienced bankruptcy attorney to ensure your situation is progressing in an acceptable manner.